Download Coinbase, the online platform that acts as a digital wallet on the one hand, which means you can use it to store all your cryptocurrencies in one place. In this aspect, you can think of it as the application of your bank, where you can see the amount of cryptocurrencies you have and the evolution of its value.
In addition to this, as a digital wallet, you will also have a unique address with which other people can send you cryptocurrencies, allowing you to receive or make payments with them without having to go through other services.
On the other hand, it is also a cryptocurrency trading service, known as a cryptocurrency exchange. This means that you can link your credit card to the service and use your real money to buy different types of cryptocurrencies, then at any time you can resell them.
With this you have a service that can work in a very similar way to others such as PayPal or your bank’s app when paying and obtaining cryptocurrencies. You can also manage them as if it were a stock market application, only instead of speculating on the stock market, you can do it with the cryptocurrency market. Of course, you should keep in mind that the value of cryptocurrencies is quite volatile, so be careful not to take too much risk.
The platform is based in San Francisco, California and was founded in 2012 by Brian Armstrong and Fred Ehrsam. One of its main investors has been BBVA with its BBVA Ventures program, and in July 2019 it claimed to have 30 million users on its platform.
As we told you, Coinbase will charge you commissions when you buy or sell cryptocurrencies. When you go to buy cryptocurrencies, the commission will be 1.49%, while when you go to sell them to exchange cryptocurrencies for real money, the commission will be 1%. What has no commission is the transfer of assets to other virtual wallets.
Signing up for this service is very simple. All you need to do is be over 18 years of age and provide the service with your first name, last name, email, and the password you want to use on your account. Then, to buy cryptocurrencies, you will need to link a payment method which can be a PayPal account, your bank account, or a credit or debit card.
How Coinbase Works
You can use Coinbase both on your mobile and through its website. In them, the first page you will see is the home page, where you will have all the information you need. For example, you can see the real money value of your assets, as well as the evolution of the value of the main cryptocurrencies and decide which ones you want to be shown, and see a summary of the most important news in the sector.
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