Over the past couple of years, cryptocurrencies have revolutionized the way we think of online markets and an open financial system. Today, there are many digital platforms that allow you to sell, buy, or transfer different digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, and many others.
The main idea of Coinbase is to offer an online space where people will be able to exchange cryptocurrencies into local currencies in just a couple of clicks. This, as well as the fact that doing business on Coinbase may offer passive income, is one of the reasons it has been among the top cryptocurrency platforms.
Next, we will take a look at what type of profit you are able to make, as well as the intuitive security features that it is highlighted by. Let’s get to it!
What Is Coinbase?
As we have mentioned above, this is a cryptocurrency trading platform that offers much more than just buying/selling Bitcoin and other popular digital currencies. One of the coolest things is that it is built using API, and it serves as a one-stop-shop. This means that you can store, buy, sell, and trade all in the same place.
Most importantly, you have nothing to worry about in terms of backup and security features, as Coinbase offers fantastic encryption.
Additionally, unlike some other platforms, trading with your friends and family members, as well as other cryptocurrency enthusiasts, is completely free.
Keep in mind that this is if you decide to go for the Coinbase Pro option, which offers many advantages. However, it could also be a little too much in terms of monthly maintenance for new traders.
Pros Of Coinbase
There are a couple of different advantages that you will reap from being a Coinbase (Pro) user. Firstly, compared to other trading platforms, it is incredibly versatile and has more than 25 different altcoins available for buying/selling/staking at any given point.
This, as well as the fact that it is highlighted by high liquidity, means that you have complete freedom in trading, and the risk of huge price slippages is almost eliminated.
Coinbase features a user-friendly interface that will not require more than a couple of minutes of research to get comfortable with. One of the newest features is the cryptocurrency guide.
You get an opportunity to be paid for going through it, and you will learn more about how alt-currencies work.
Earning Passive Income With Coinbase
While mining has been one of the most effective methods to earn passive income on cryptocurrency trading platforms, it isn’t as good of a solution today.
In our personal opinion, staking is probably your best option when it comes to the amount of time and money invested compared to the final result that you will be getting.
It comes down to keeping your digital currencies in a wallet, such as Coinbase, and getting certain tasks done, such as validating transactions or adding further funds to the staking pool. You should know that not all staking projects are legit, and in some cases, the return rate is inflated.
For this reason, you will want to investigate the token models/algorithm before deciding that staking will be your way of earning passive income.
How To Register With Coinbase
The registration process itself is simple and consists of only a couple of steps. The first thing that you should do is log onto the official Coinbase website and go to “open an account”. Here, you will need to submit some info, such as your email address, password, and name.
Once you receive a verification email, the next step is to prove your identity (much like with any bank). After you get approved, you should be able to connect your bank account, credit card, or debit card to Coinbase.
From there, this trading platform is available 24/7 for you to sell, buy, stake, and transfer cryptocurrencies.
If you would like to learn the steps to register for a coins.ph account, look here.
Coinbase is one of the best digital currency platforms, especially for new users who are looking to get educated on how it all works. While you will be charged a maintenance fee for the Coinbase Pro option, the many benefits make it a worthy choice!