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You are here: Home / Finance / How to Buy Bitcoin on Coinbase in 2021
How to Buy Bitcoin on Coinbase in 2021

How to Buy Bitcoin on Coinbase in 2021

May 4, 2020 By Cade Hildreth Leave a Comment

Bitcoin is and always has been a big deal. But, how do you buy bitcoin on Coinbase or other crypto exchanges if you’ve never done it before?

At the time of writing this article, the value of single bitcoin is equal to $36,752.60.

While the coronavirus pandemic sent the price of Bitcoin skyrocketing, it is now down over 40%  from its April 13th high of 63,588.

Buying Bitcoin on Coinbase

If you’ve looking to bag some Bitcoin, then you’ve probably heard of Coinbase by now. I mean, who hasn’t?

If you aren’t familiar with Coinbase, it is a secure platform that makes it easy to buy, sell, and store cryptocurrencies like Bitcoin.

Based in the USA, Coinbase is available to people in over 30 countries worldwide. It allows you to instantly purchase Bitcoin, Litecoin, Etherium, USDC, BAT, DAI, Tezos, and other popular cryptocurrencies.

If you’re interested in how to buy bitcoin on Coinbase, I will show you how quick and simple it really can be.

How to Buy Bitcoin on Coinbase

Coinbase is wonderful for purchasing Bitcoin on the fly. However, there is one barrier to entry—you have to verify your identity.

Since it is a reputable service, it wants to make sure that you are reputable and not someone who wants to game the system.

Coinbase Account Setup

With over 32 million users, Coinbase is one of the world’s largest Bitcoin exchanges.

Let’s dive into the actions steps required to purchase your first Bitcoin:

  1. Go to Coinbase + Create your free account
  2. Verify your email address. Open your email inbox, click the link in the verification email. Now that you’re verified – you can log-in, and you will see the dashboard of the current UI.
  3. Before you start with transactions, you should complete your profile. If not prompted to do so, hit the profile button in the top right and click settings.
  4. The most important feature to setup is 2-factor authentication. This will greatly improve your account security to prevent coin loss.
  5. Return to the bitcoin dashboard.

At this point, you can click “Buy/Sell”, but you will be prompted to verify your identity. You can do this by uploading a scanned copy of your picture ID.

The ones you can use are your passport, driver’s license, and any other government-approved ID.

After a short while, if not instantly, your ID will be verified automatically. Netverify, created by Jumio, provides this verification service.

Next, select the type of ID and follow the instructions to upload the file.

When your verification goes through, then congrats! You can start to buy and sell a wide range of digital currencies.

If Declined: In some cases, an account verification process can be declined. Reasons for this can be a duplicate account, a stolen identity, lying about your country, fake ID, or being banned in the past.

If you have been declined for any other reason, then it is best to contact Coinbase support because it might have been a system error. By doing so, you can determine the cause, identify the solution, and if required, provide additional documents to prove you are who you really say you are.

If you have been declined but still want to pursue low-entry investment options, check out my guide on how to invest when broke.

Bitcoin Purchases

Alright, onto the exciting part.

To purchase Bitcoin (BTC), scroll to the top of the main Coinbase dashboard and click “Buy/Sell”.

A screen will pop-up with the type of currency, payment method, and quantity. You can specify a $ amount for Bitcoin, and it will convert and present the BTC amount that you will receive on your account.

For every purchase, Coinbase takes a variable transaction fee. So keep that in mind, if you’re looking to purchase a specific amount of Bitcoin for any other online transaction.

Now that you’ve selected a quantity, BTC currency, and verified the price, you can click “Confirm Buy.” If everything is fine, a green check-mark will show up indicating a successful transaction.

You can now return the dashboard, and you will have a summary example of the account and its activity. It should include your BTC quantity and the listed price of the transaction.

If you are in the US, Europe, UK, or Singapore, then you can buy Bitcoin instantly with a credit card.

If you’re not, then it can take a little while to verify your purchase, but it shouldn’t take longer than half an hour.

Recurring Bitcoin Purchases

If you’re interested in playing around with digital currency, setting up a recurring purchase can be quite appealing. Bitcoin has a fluctuating price, so you can try to dollar cost average into it. Dollar-cost averaging is when you buy a certain amount every single month to average your entire cost range.

It works well for entry-investors who want to buy stocks or crypto on a fixed monthly budget.

If this sounds like you, Coinbase can be used to set up a recurring transaction from your dashboard.

You can simply choose the previous transaction, click “Repeat” this buy, and select an appropriate purchasing frequency (weekly, bi-weekly, monthly, daily).

Buy Bitcoin, Get in the Game

Now that you know how to buy Bitcoin on Coinbase, you are well on your way to playing around and experimenting with your first cryptocurrency investments.

The sky is the limit with crypto, because you can spend hours and hours of learning, researching, and tinkering with various methods, techniques, and softwares.

Just remember, anytime you use, trade or sell cryptocurrency, you’re going to owe taxes to the IRS.

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“As an LGBTQ+ entrepreneur, real estate investor, former USA Rugby Player, and fitness fanatic, I’ll teach you what your parents and teachers should’ve taught you, but didn’t know themselves.” -Cade Hildreth

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Or, listen to Cade’s articles on the go as a Podcast.

Because it’s the New Year, let’s talk about ch Because it’s the New Year, let’s talk about change...

For a long time, I’ve thought about top surgery. I remember when I was 6 or 7 years old when I wanted to run around outside on a hot, sunny day with my shirt off…and I first saw my parents… hesitate. Ughh. 

It wasn’t their fault but I still remember that heart wrenching feeling. To their credit, they ultimately said, “Ok, go do it!” While I did “do it”, I remember the feeling of shame that crept in.

Over the years, being in affirming sporting/rugby circles helped suppress the urge to get top surgery, but it never quite “stayed down.”

So last summer I got keyhole #topsurgery. I’ll talk about recovery in another post because it was definitely weird to not strength train for months.

But in THIS post, I want to share two things:

1. I am SO grateful to my wife Erin for being the supportive and growth oriented partner that she is. 🥰🙏❤️ 

She is now following her call to get a divinity degree and she’s already working in ministry as a Pastor in Training at an incredible, inclusive Presbyterian church here in Virginia. I am grateful to her for supporting me as I become more and more of who I am—and I’m enjoying watching her do the same! Love you, babe!

2. Second, I’m grateful to get to share who I am with my family. This summer we took a trip to Madden’s resort in MN to celebrate my parent’s 50th wedding anniversary. (It was actually their 52nd, because we had to postpone it twice due to Covid.)

I was nervous to be in the pools and lakes around them, but I could feel it was my only choice because I knew I wanted them to “know me”. And, how could that happen if I “hid me”?

Ultimately, I have to tell you…it was freeing to be me, as I am, who I am. 

I had the BEST time splashing around and biking and goofing around with my wife, niece, nephew, & sister. 🌊🏖🐟

So, I suppose, this is a gratitude post to thank those who have supported me over the years as I become more and more of who I am. 

Top of that list is my wife, Erin, but there are countless others. ❤️

If you’re reading this, thank YOU for being one of those people in my life too. I am deeply grateful. 🥹
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#lgbtqfamily #nonbinary
How to set a boundary? 🤔 . . . . #lgbtqia #lgb How to set a boundary? 🤔 
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#lgbtqia #lgbtqcommunity #emotionalhealth
What do you do if you’re telling a past story ab What do you do if you’re telling a past story about someone who has transitioned? 🤔 Share a 💯 if you agree ➡️🏳️‍⚧️🏳️‍🌈
7 things I got clarity on in 2022: 1. Good and b 7 things I got clarity on in 2022: 

1. Good and bad are labels. All things are experiences. 

2. Maturity is taking full responsibility for oneself. 

3. Having a loving, conscious relationship with myself is a core value. 

4. Emotions do not mean that anything has to be done. 

5. When I am in congruence with what I want, I have it. 

6. I have permission from myself to stop doing anything that doesn’t lead to my peace and empowerment. 

7. Stepping toward emotions and being able to feel them is a superpower. It determines the quality of my life. 

(Are there any above that you’d like me to further explain?)
 
Most importantly, which # above resonates with you? ⬆️

Happy New Year, y’all! 🎊🥳
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#lgbtqcommunity #lgbtqiaplus #lgbtsupport #nonbinary #trans #selfgrowth
Interview with Jenny Nguyen, Founder of the Sports Interview with Jenny Nguyen, Founder of the Sports Bra—The World's 1st Bar to Only Play Women's Sports - shorturl.at/doGHZ

I'm excited to introduce you to today's #podcast guest, Jenny Nguyen, who is a professional chef, elite athlete, and entrepreneur.

I invited Jenny onto the podcast because she has done something extraordinary that is long overdue: She has opened up a sports bar that exclusively plays women's sports!

Despite extensive research, Jenny hasn't found another sports bar worldwide that ONLY plays women’s sports.

Given that it's nearly 2023, this is mind-blowing. As a lifelong athlete, I find her vision compelling and inspiring.

Aptly called the "The Sports Bra", the venue is putting Jenny's culinary skills on display alongside women's sports worldwide.

The Sports Bar has taken its mission a even further by partnering with and elevating other local, women-owned businesses.

Specifically, it:

1. Sources its grass-fed beef from @CarmanRanch, an ranch run by Cory Carman, a third gen rancher out of Wallowa, Oregon).

2. Sources its alcohol from Freeland Spirits, an all-women owned and operated distillery out of NW Portland.

3. Has furniture built by @girlsbuild_org, a non-profit organization headed by @ktmhughes in Portland, OR, that teaches carpentry and construction skills to young girls as a path to empowerment.

Since opening the Sports Bra this April, people have come from ALL over the U.S. and the world to experience it—including many professional female athletes.

To learn more about Jenny as she makes history, features women's sports, and elevates women-run businesses, listen to the episode here:

shorturl.at/doGHZ

Or, you can check out the Sports Bra at:

@thesportsbrapdx
TheSportsBraPDX.com/

Have you heard of the Sports Bra or been out to experience it in person?

#lgbtqiaplus #womenownedbusiness #lgbgtqia #lgbtqcommunity #womenssports #womeninsport
Over this recent holiday stretch, we… - enjoye Over this recent holiday stretch, we… 

- enjoyed some quiet time at home
- got a sauna delivered (but not yet installed)
- decorated for the holidays
- baked a bunch
- visited our favorite farm
- did some sight seeing
- and perhaps, most importantly, survived the cold snap along with our feather friends (who lived in the garage for a few days so we could heat them with a space heater) 🥶🐔

How have the holidays treated you…and did you get hit by the winter storms? ❤️🎁☃️❄️
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