Coinbase Account Registration
Confirming Your Identity on Coinbase
Coinbase will give you the option to confirm your identity via several methods during the account creation process and afterward in the Settings > Security options in your Coinbase Dashboard. You can access these options at any time. Address: You will be asked to fill in your residential address after confirming your phone number in the initial account setup or in Settings > My Profile section of the Dashboard after logging in. As with other account information, it’s important to be truthful here. The Country field, in particular, is very important as it will determine which financial services you can use on Coinbase and how much you can buy or sell. Document Verification: After the address section in the initial account setup, you’ll be asked to confirm your identity by sharing copies of government-approved ID such as a passport, proof of age card, or driver’s license. The requested documents will vary depending on which country you’re based in. If you skipped this option initially, you will be reminded to submit this information in your Coinbase Dashboard after logging in. You can also find the option to submit your documents via Settings > Limits.
Coinbase Payment Options
Coinbase users in the U.S. can use PayPal to redeem cryptocurrency for cash, wire transfers for withdrawing and depositing funds, and credit and debit cards for buying cryptocoins. The best option by far though is to link a bank account to your Coinbase account as this payment method can be used for buying and selling crypto as well as depositing and withdrawing funds. You’ll be asked to add a payment option after verifying your identity in the initial account setup. If you chose to skip that option, you can add a payment method from within your account by clicking on the Buy / Sell link in the top menu and choosing Add a new account under Payment Method. Adding your debit or credit card information usually allows for the immediate buying of Bitcoin, Litecoin, Ethereum, and Bitcoin Cash on Coinbase. Adding PayPal is also instant. When submitting your bank account information though, there is usually a two-day (or more) waiting period before it can be used to buy or sell with. Confirming your identity on Coinbase can help increase your buy limit (the amount of cryptocurrency you can purchase on a weekly basis) and can also improve your account’s security. Here’s what you’ll be asked for either from the link in the account confirmation email you would have been sent after creating your Coinbase account or in your Dashboard security settings. Phone Number: Confirming your phone number is a very simple process. You’ll be asked to select which country your number is registered in and for the number itself. After submitting this information, Coinbase will load a second webpage and will send an SMS to your mobile with a code. Enter this code in the verification field on the new page and click the blue Verify Phone Number button.
Increasing Coinbase Buy Limit
Coinbase usually limits new accounts with a $300 buy limit. This is done to prevent money laundering and other illegal activities. Limits can be increased by doing each of the following.
How to Get US$10 of Free Bitcoin With Coinbase
Anyone can join Coinbase for free from the Coinbase website but if you know someone else who is already a member, it’s worth asking them to invite you first. If you sign up for Coinbase via someone’s invitation, not only will that person’s account be credited with US$10 worth of Bitcoin but so will yours whenever you spend over $100. Furthermore, once you’ve created your account, you can refer your own friends to earn another US$10 of Bitcoin.
