Greetings! This article analyze the crypto-wallet Coinbase. Let’s go step by step registration, carry out setting of the wallet, and discuss its pros and cons.
In Coinbase available to us for storage such currencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin. It should be noted the incredible popularity of this platform in the world. For example, Coinbase mobile app was the most downloaded in the App Store, ahead of the popularity of YouTube, Facebook Messenger and Instagram. A platform Profit for 2017 exceeded the mark of $ 1 billion
- The main advantage of the purse are instantaneous, and last but not least, free transfers within Coinbase system. This is especially convenient in the HYIP industry. For example, we can pay you refback without loss on the board, and you get the full amount, not “minus commission” as in transfers to Payeer.
- Affiliate program. You can earn money just by spreading your referral link to the service.
- Also there is the opportunity to buy directly on cryptocurrency Coinbase Exchange by using a bank card. And no need to look for proven exchangers and to complicate his life.
- It should be noted in Bitcoin speed transfer network which is considerably higher than the same Blockchain.info. Koinbeys main competitor.
- The service does not allow us to restore your account in case of password loss. No backup passphrase, as implemented in Blockchain, not here.
- Coinbase does not provide access to the private key of the purse, which means that in the case of a closed system, you will not have access to your funds.
- The anonymity of the service is poor. In 2017, the US tax requested data about users whose turnover exceeds $ 20 000, the data were provided. Certainly not right away, through the courts, but … draw your own conclusions.
- And of course do not forget that this purse, “warm” storage. That is, the money is from a third party and not you personally.
Separately made and analyze a feature of the purse as a fixed transfer fee.We look at an example of BTC. Transfer fee of any amount of Bitcoins is 0.00043162 BTC. Below, in the image below, we can see it clearly.
Is it good or bad? Depending on the situation: the derivation of a small amount, of course bad, while displaying a large – good. And of course do not forget that the translation system inside Coinbase no commission at all.
Coinbase account registration
Go to www.coinbase.com. The first thing we’ll do once on the site of service – a click on the button “Sign Up” in the top right corner. We open the registration form. Data is entered in Latin letters, as indicated on the image below and click on “Create Account“.
Automatically provided when registering e-mail comes the letter that you want to open and confirm by clicking on the “Verify Email Address“. Again opens the form in which you must enter the actual phone number. Select the country, enter the number and click the button. “Next” On our specified number has been sent to the code, which we are introducing in the appropriate field and click “Verify Phone Number“.
The main stages we passed verified email. mail, phone number and have access to a personal account in Coinbase. Clicking on the “Accounts” on the left, we see our wallets, and on the right button. “Buy …” After selecting the desired currency and by clicking on this button, we can buy coins with a credit card.
Next, click the button “Tools”.Here we can create an address for any of your purses: Bitcoin, Bitcoin Cash, Ethereum or Litecoin. In the drop-down menu on the left choose the right purse and click “Create New Address“.We got the address to which we can already receive our currency.
Click on three points, then on “Rename Account“,enter the desired name and click the green checkmark. Voila, we have renamed the purse.
Setting Coinbase Account
Hit button “Settings”. We offer to your account settings page. Load profile picture, this is not necessary, but in the case of solutions of any issues with the Help Desk profile photo will play in your favor. Here you can change the password and change the e-mail and account name.
Below we can see personal data, namely your name, surname, date of birth, country and city of residence. These fields are not all are required, but still recommended to fill them all.
Then click on “Preferences”,in the window that opens, find the currency settings, which will display your account balance, and time zone settings. Set up under him and move on.
Click on the menu. “Security” Here we connect the two factor authentication via SMS text messages. To do this, click on “Enable Authenticator” in the dialog box input received on the phone code.
Further, in paragraph “Require verification code to send (Require a verification code to send)”, note the top a radio “Any amount of digital currency (Any amount of digital currency).”
At this Coinbase account setup is complete.
In conclusion, I would like to say that keeping the funds in Coinbase is no different from the storage means on the stock exchange. And as we know, all of the crypto-portfolio on the stock exchange can not be stored. We need to diversify their wallets.
Our opinion – crypto-purse Coinbase comfortable in the world of HYIP. Where is it and should be used, but in any case not for long-term storage cryptocurrency.
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