Buy Verified Coinbase Account

What is coinbase

Coinbase is a digital currency exchange company. It was founded in 2012 by Brian Armstrong and Fred Ehrsam

Coinbase was created to give users an easy way to buy and sell the two most popular cryptocurrencies, Bitcoin and Ethereum. Coinbase serves as a digital wallet where you can securely store your coins, and as an exchange for trading fiat currency (dollars) and other cryptocurrencies for bitcoin. Currently, they only support three currencies: USD, EUR, and GBP.

Coinbase is available in 32 countries and has earned more than $200 million in revenue in 2016 alone.

What is a verified coinbase account?

A verified account is a feature offered by Coinbase.com. It allows people to have the advantage of increased limits and quicker withdrawals from their accounts. Untrusted accounts require approvals before being able to withdraw money, whereas trusted accounts do not need this type of approval.

You can be approved for a verified account by providing ID, verifying your phone number, and connecting an associated bank account to your Coinbase account. For automatic approval you would need to provide or upload a government-issued ID from one of the following countries:

Alabama, Arizona, Arkansas, California, Colorado, District of Columbia (Washington DC), Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Mississippi Missouri Montana Nebraska Nevada New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont, Virginia Washington West Virginia Wisconsin Wyoming

Please note that you can not be approved for a Coinbase verified account if you are located in the state of New York.

How to verify your coinbase account with an ID or driving license

1) Open your Coinbase account,  select ‘Settings‘ on the top right corner.

2) Click “Verification” under “Account Security” on the left side menu bar.

3) Click “+Add New ID“, you will be prompted to upload

• A clear photo of an official document stating your full name and address, such as a passport or driver’s license.
• A photo of you holding your ID document.

4) Once your ID has been verified, you will be able to withdraw from Coinbase without being required to get every transaction approved by the support staff. To verify a bank account: click on “Add a bank account” under “Linked Accounts” in the left side menu bar.

5) Click “Verify a new bank account“, you will be prompted to enter your name and bank account information

6) After you have added your bank account, Coinbase will initiate two small deposits into your linked account. Once these transactions have been confirmed via email or SMS, you can click on “Complete and Verify” under “Linked Accounts” in the left side menu bar to finish verifying your account.

 

How does Coinbase work?

Coinbase is the largest digital currency exchange platform and most popular way to buy and sell Bitcoin, Ethereum, and Litecoin; it operates exchanges between these three currencies in several countries and is used to price goods and services in Bitcoin for some retailers.

That means Coinbase acts as a “bank” of sorts: you deposit money (fiat currency: USD, EUR, and GBP) which you can then exchange with cryptocurrencies. The coins are kept in your account just like at any other bank. You can transfer coins by sending them to other wallets or buy and sell coins through the platform.

Coinbase charges 1% fees for every transaction made through the platform but offers an option to reduce it to 0.99% if you are a High Volume trader by verifying yourself as one.

How secure is Coinbase? As secure as any bank account?

Coinbase is quite safe, but only if you don’t do anything stupid like sharing your password or 2-factor authentication (2FA) with anybody. Remember that email Coinbase sent you when you signed up? 

It contains a link to click in order to set up a 2FA security feature which will help secure the account even more by adding an additional code which is required every time you log in to your account.

Is Coinbase regulated? Do they comply with laws?

Yes, Coinbase complies with all state and federal laws of the countries it operates in. It also holds licenses for money transmission in many US states.

Coinbase also provides tools to comply with KYC/AML (Know Your Customer/ Anti Money Laundering) regulations in accordance with US law.

How do I sign up for Coinbase? Is it safe? How is their support?

Signing up isn’t hard, but there are some steps you need to complete before you can start buying coins; the process is explained here. It is recommended to choose the Basic option during signup and then upgrade if you want access to all features, including 2FA.

Coinbase has 24/7 customer support which you can contact by email or through a dedicated Contact Us form. They also have an extensive Help Center where you can find answers to most of your questions.

What are the advantages of using Coinbase?

• Coinbase is fully compliant with governments and laws, which means your coins are safe. 
• You can buy coins with credit cards (Visa / MasterCard) or link your bank account to your Coinbase account for fast deposits. Other options include sending a wire transfer (if you already have an established relationship with a bank) or sending cash through the mail. 
• Coinbase is very easy to use and has a great interface, beginner-friendly. The company also offers a so-called “Vault” for the long-term storage of coins that you want to keep safe for a longer period of time. 
• Most transactions are fast, although cryptocurrencies can sometimes experience big delays when buying or selling some coins. 
• Coinbase has a good reputation among the crypto community, offering quick support and some basic features for newbies. 
• You can use some apps to check balances on your account or execute transactions while on the go. 
• Instant buy/sell option is available through Coinbase’s sister company GDAX (Global Digital Asset Exchange). 
• Coinbase currently supports only three cryptocurrencies: Bitcoin, Ethereum, and Litecoin; however, there’s a daily limit for each currency which you can upgrade by verifying your account as a High Volume trader. 
• Coinbase is not available in all countries, but the company keeps on expanding its service every month.

What are the disadvantages of using Coinbase?

• There are some fees for buying and selling cryptocurrencies through Coinbase. Even though the fee is only 1% it can quickly add up if you want to buy/sell larger amounts of coins. 
• Fees for transferring money between Coinbase accounts are quite high (over $10) which makes this option useless unless you already have some coins credited to your account. 
• Storing coins on Coinbase is free, but if you want/need to withdraw them it can be expensive (the same as storing coins). It’s best to transfer your coins to another wallet before withdrawing them. 
• Your purchase limits are based on how much information you provide during the signup process (which is the only time you need to enter personal data to use Coinbase). Verification requires submitting your ID or driver’s license, but it can take up to a few weeks before you get approved. 
• The app doesn’t let you sell coins (like the Binance app does), but you can buy and hold while waiting for the price to go up. 
• Coinbase’s fees can be very high if you trade large amounts of coins that aren’t available on their platform (GDAX). 
• You can’t trade with USDT or other currencies on their platform; it has to be done through GDAX.

Buy verified coinbase account

The Buy verified coinbase account is a great way to make a purchase in a simple and secure way. It does not charge any setup fees, and the app is free to download from the Apple Store. Buy coinbase verified accounts have been ranked among the best in terms of safety and security.

Buy verified coinbase account is the only Bitcoin company that has been licensed by New York’s Department of Financial Services to sell Bitcoin in New York State. The Coinbase verified account also provides 24/7 customer support which can be reached through email or phone number. A verified Coinbase account offers some of its services for free such as Bitcoin exchanges and making Bitcoin purchases with your credit card.

Frequently Asked Questions

How secure are Coinbase accounts? Are there any reports about Coinbase being hacked?

Coinbase, as well as all cryptocurrency exchanges, stores most of the coins offline in a cold wallet. They have one of the best security measures among exchange platforms and have never been hacked since their inception. Keep in mind that if you’re storing your coins on an Exchange (for example Coinbase) and they get hacked, there is a good chance that you will lose all of your money. Your best option is to store your coins in a secure wallet where you have full control over your private keys.

How long does it take for a purchase to complete on Coinbase?

The time it takes for a transaction to complete varies depending on the cryptocurrency and network congestion. Usually, it takes about 10-20 minutes to receive funds, but it can be faster or slower (for cryptocurrencies like Bitcoin and Litecoin).

Is Coinbase available for iOS?

Yes, Coinbase has an iOS app which you can download in the App Store. There’s also an Android version of the app.

What fees does Coinbase charge?

The fees for buying and selling coins in Coinbase depend on the selected cryptocurrency. Fees for buying/selling cryptocurrencies are usually lower when using GDAX (Coinbase’s sister company). The price of the fee is different depending on your location, but around 1-2% will be added to your bill when paying with credit or debit cards. The fees for transferring money between Coinbase accounts is $10 and there’s no fee if you transfer money to or from your bank account.

Is it possible to recover my wallet if I lose all of my coins? Can Coinbase refund me?

No, Coinbase can’t refund you in the case where you lose all of your coins due to a hack or you accidentally delete your account. Coinbase is a web wallet and doesn’t store any of the coins on their servers, so they can’t help you if something happens with your private keys. The best way to protect your money is to backup your private keys and remember that storing cryptocurrency on an Exchange (Coinbase) is not a safe way to store them. The safest way to store your coins is by using a hardware wallet or a secure desktop/mobile wallet.

Can I use my Coinbase account in other countries?

Coinbase’s services are available in many countries around the world, but there could be some limitations based on what payment methods you can use and how much money you have deposited.

Does Coinbase have a phone number?

Coinbase doesn’t have a customer service phone line, but they do provide an email address where customers can send their queries. You can contact them at support@coinbase.com.

What are Coinbase’s fees based on?

Fees are based on the payment method you use when you’re buying or selling cryptocurrency. Different payment methods have different fees. The fee will be added to the price before you pay, so you won’t see it in advance.

Is Coinbase available in my country?

Coinbase’s services are available in many countries around the world, but there could be some limitations based on what payment methods you can use and how much money you have deposited.

What is Coinbase’s phone number?

Coinbase doesn’t provide a customer service phone line, but they do provide an email address where customers can send their queries. You can contact them at support@coinbase.com.

Is Coinbase safe to use? Can I trust them with my money?

Coinbase is one of the most trusted and secure cryptocurrency platforms out there. They have never been hacked since their inception in 2012.

They claim that since they don’t store your private keys, you’re the only one with access to your funds – which leads me to believe that you’re in total control of your funds (apart from when you use Coinbase’s hosted wallets ). Check out  Why it makes sense to use a web wallet for more information about the safety of your coins in an Exchange.

Can I leave my bitcoins on Coinbase after purchasing?

Yes, whenever you buy or sell cryptocurrency on Coinbase, your funds are available for spending immediately unless they require additional verifications.

Why does Coinbase need so much information from me?

Coinbase needs to know your identity in order to comply with federal and state laws and regulations. They also need the information you’ve submitted for verifying your account and buying/selling coins on their platform. This helps them fight fraud and further secure their website. The more information you submit, the more coins you’ll be able to buy.

How long does it take for Coinbase to verify my account?

It usually takes a couple of days to verify your bank account if everything goes well, but there have been cases where it could take up to a week. You can always contact their customer support and ask about your verification status. You can find more information about submitting documents on Coinbase’s support page.

Are there limits to how much I can buy/sell?

Whenever you make a deposit, purchase, or sale of cryptocurrency on Coinbase, your transaction will be subject to limits based on the payment method you use.

Some simple math tells us that if we deposit $100.00 and make a 4% profit on it, we need to multiply the value of 100 x (1 + 0.04) to know how much we have at the end:

$100 * 1.04 = $104 = 104 USD

This is not the case with Coinbase, since your limits will depend on how much money you deposit. If you deposit $100, you will only be able to withdraw $100 at any given time since Coinbase needs to keep some of your funds in their accounts for security reasons.

Their support page says that they are required by law to hold the relevant amount of funds that corresponds to what they know belongs to you based on government regulations. If you wish to withdraw more than the limit imposed on you, you’ll need to complete their identity verification process.

Can I buy other cryptocurrencies apart from Bitcoin?

Yes, if your country is supported by Coinbase, you can purchase Litecoin, Ethereum, or Bitcoin Cash. The currencies available for buying and selling may also vary depending on your country.

How long does it take for Coinbase to process my transaction?

Coinbase usually processes transactions instantly unless the payment method you’re using is not supported or if they are experiencing technical issues. Their support page claims that most of their customers don’t experience any delays, but if you do encounter one, contact them immediately so they can investigate the matter and resolve it as soon as possible.

Can I use my Credit Card to buy cryptocurrencies?

Coinbase cannot submit purchases made with Credit Cards, but they can allow you to add your credit cards (for future use) in case you change your mind regarding buying coins with them. They support instant bank transfers for verified users, but they also support debit cards that are usually associated with your bank account (for example, if you have a Wells Fargo account, your card will be under ‘Wells Fargo’ and not ‘US Bank’).

Are there any extra fees for using Coinbase?

Coinbase does not charge any fees except the ones imposed by their payment method of choice.

What are the downsides of buying/selling on Coinbase?

Coinbase requires more personal information than other exchanges since they are required to follow federal regulations, but if you already have an account on their website and fully verified it, you only need to submit your ID for any new purchase or sale that you wish to make.

Conclusion

Coinbase is a great place to buy and sell Bitcoin, Ethereum, Litecoin, or Bitcoin Cash. One of the best things about Coinbase is that they don’t charge any fees (except for those imposed by their payment method). The downsides are that it can take up to 7 days for your account verification to be completed and you need more personal information than other exchanges. If these pieces of information do not bother you then go ahead and use this platform!

More Best Accounts:  Verified Adwords Account, Verified Skrill Account