Coinbase is a mobile application that allows users to buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Founded in 2012, Coinbase has quickly become one of the most popular cryptocurrency exchange platforms in the world, with over 56 million verified users as of September 2021. In this article, we will discuss the features of the Coinbase app and how it works.
Features of the Coinbase App
- Buy and sell cryptocurrencies: The Coinbase app allows users to buy and sell cryptocurrencies with ease. Users can choose from a range of digital assets, including Bitcoin, Ethereum, Litecoin, and more. The app offers several payment options, including bank transfers, credit/debit cards, and PayPal.
- Wallet: The Coinbase app provides users with a secure digital wallet to store their cryptocurrencies. Users can transfer their digital assets to the wallet and access them anytime. The app uses advanced security features, including two-factor authentication and biometric authentication, to ensure the safety of the wallet.
- Price alerts: The Coinbase app also provides users with real-time price alerts for their preferred cryptocurrencies. Users can set custom alerts to get notified when the price of a specific cryptocurrency reaches a certain level.
- Trading: The app also offers a trading platform for users to trade cryptocurrencies. Users can trade cryptocurrencies against other digital assets or fiat currencies. The trading platform is designed for both beginners and experienced traders.
How the Coinbase App Works
To use the Coinbase app, users need to create an account on the platform. The account creation process is straightforward and requires users to provide basic personal information and a valid email address. Once the account is created, users can start buying, selling, and trading cryptocurrencies.
To buy cryptocurrencies, users need to link their bank account or credit/debit card to the Coinbase app. The app supports several payment options, including wire transfers, ACH transfers, credit/debit cards, and PayPal. Once the payment is verified, the purchased cryptocurrency is deposited in the user’s digital wallet.
To sell cryptocurrencies, users can select the cryptocurrency they want to sell and enter the amount they want to sell. The app will display the current market price for the selected cryptocurrency and the estimated value of the sale. Once the sale is completed, the proceeds will be deposited in the user’s linked bank account.
The trading platform on the Coinbase app allows users to trade cryptocurrencies against other digital assets or fiat currencies. Users can place buy or sell orders for a specific cryptocurrency, and the app will match the order with a buyer or seller.
Conclusion
The Coinbase app has made buying, selling, and trading cryptocurrencies accessible to everyone. The app’s user-friendly interface, advanced security features, and real-time price alerts make it an ideal platform for both beginners and experienced traders. With the growing popularity of cryptocurrencies, the Coinbase app is likely to become even more popular in the coming years.
