How to set up your Coinbase account
Note: Participation in the HYPEES NFT drop requires users to send funds from an exchange, such as Coinbase, to a crypto wallet, such as MetaMask.
We know many of you out there are seasoned crypto-veterans. However, OVRT is a community that aims to introduce crypto to the masses and that’s why, in the upcoming series of articles, we’ll be explaining how to do everything from setting up a Coinbase wallet to participating in the HYPEES NFT mint.
In this article, we’re going to explain how to set up a Coinbase account and buy your first crypto.
Ready? Let’s go.
How to set up your Coinbase account
Step 1 | Open your browser and head over to Coinbase.
If you use the link above, you’ll get $10 in free Bitcoin when you buy or sell $100 or more in crypto.
Step 2 | Enter the required information, then click ‘Create Account’.
Please note the password you choose must be 8-characters long and include numbers, capitals, small letters, and symbols. Try and avoid using anything that may be easy-to-guess.
Step 3 | Verify your email.
Coinbase will send a verification message to the email address you provided. Click the link inside the email to get started.
Step 4 | Set up two-step verification.
Security is critical at Coinbase. To help keep your account safe, they will text you a verification code when you sign in on a new device.
Step 5 | Select your citizenship.
Coinbase is legally required to collect this information. If you’re a citizen of more than one country, please pick one.
Step 6 | Verify your identity.
Financial regulations require Coinbase to verify your identity. Once complete, you can buy, sell or transfer cryptocurrency.
Step 7 | Upload a valid photo ID.
You have three options: Webcam, Mobile Camera, or File Upload. We recommend using the mobile camera option as Coinbase will send you a link to your mobile phone to upload photos of your ID.
Please note, your ID may require additional verification. Coinbase will email you once verification has been completed.
Step 8 | Once your identity has been verified, it’s time to fund your account! Click the ‘Add payment method’ on your Coinbase dashboard.
Step 9 | Choose the source of the funds.
You have a few options: Bank Account, PayPal, Debit Card, Wire transfers or Gift Card. We recommend using a bank account to buy crypto and deposit or withdraw cash so we will be continuing these instructions using this as our preferred method.
Step 10| Select your bank and login.
Note: Coinbase uses Plaid to securely connect your financial accounts in seconds. Once connected, Coinbase will ask you to confirm the primary bank account you wish to use when interacting with the platform.
Step 11| It’s time to buy your first crypto! Click the ‘Buy/Sell’ button at the top-right of your Coinbase dashboard.
Step 12 | Select the crypto and amount you wish to buy, then click ‘Buy now’!
Please note, to participate in the HYPEES NFT mint, you will need to purchase Ethereum (ETH). Be sure to select this in the highlighted field above.
Congratulations! You have now set up your Coinbase account and purchased your first crypto!
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DISCLAIMER: Coinbase is not endorsed by OVRT. There are many other exchanges out there which you may prefer to use — please make sure to your own due diligence and research.
Additionally, this is not financial advice. Investing in cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the loss of all invested digital assets. I advise you to do your due diligence before making any cryptocurrency investment.