CryptoPartner Content

Which platform or app is safe for trading in cryptocurrency?

0
Which platform or app is safe for trading in cryptocurrency? - Gadgets Africa

Overview

You can frequently discover dishonest or fraudulent brokers looking to steal customers’ money online. Be cautious when registering with any online service. Users can purchase, transfer, or exchange cryptocurrencies thanks to cryptocurrency brokers. One cannot exchange cryptocurrencies like Ethereum in the absence of a broker. To prevent fraud, a reputable broker is essential when exchanging Ethereum or other cryptocurrencies. Today, there are a lot of fraudulent websites, which is why a trader must only use a trusted platform like bitcodes-ai.

Coinbase

Coinbase is the most reliable and secure platform for buying and selling cryptocurrencies. You must have probably heard of Coinbase if you want to trade in cryptocurrencies or utilize them as a payment method. It is one of the most widely used bitcoin exchanges available on the internet, with millions of customers. Additionally, it is among the most straightforward approaches for obtaining cryptocurrencies, which has added to its sudden rise to fame. There are over one hundred twenty distinct kinds of cryptocurrencies on Coinbase, albeit not all of them are recognized. The most common varieties of cryptocurrency can be traded on Coinbase, making it useful for most uses.

wt lighthouse

How to open an account on Coinbase?

To open an account on Coinbase, you must meet the following requirements:

  • Must be eighteen years of age
  • You must have a government-issued identification document
  • You must possess a smartphone or laptop having an internet connection
  • Your cellular network must be active to receive a verification message
  • The internet browser on your device must have all the latest plugins downloaded and installed

After completing the requirements above, begin the signup process and enter your login credentials. Your password must be strong and unique to keep your account secure. In the final step, add a payment method to help you purchase and trade money in your Coinbase account. Once you are done, you may start trading cryptocurrencies. 

Is Coinbase secure?

Although two-factor verification and other security features make Coinbase a safe platform, it is not immune to hacking attempts. Online claims of Coinbase consumers having their funds stolen overnight may be found with a basic search. One can take steps to make it more challenging for external attackers, like using a so-called non-custodial wallet. Another choice is the hardware wallet.

These many wallets were designed to enable you to keep your money independently of Coinbase. These allow you to save your cryptocurrency utilizing hardware, software, or application. The wallet in which your cryptocurrency is held will not be accessible even if somebody gets hold of your Coinbase account.

98% of user funds are kept offline by Coinbase in cold storage, which consists of hard disks and paper backups. They then distribute these within vaults and secure deposit boxes across the globe. Coinbase also keeps customer data off databases and away from the internet to make it harder for cybercriminals. The data is then divided and encrypted, saved to hard disks and paper backups, and distributed, like the user’s money, to safe deposit boxes and vaults worldwide.

How to buy Bitcoin on Coinbase?

Since we are discussing Coinbase here, let us look at how users can buy Bitcoin using Coinbase:

  1. You must be logged in to your Coinbase account
  2. Check whether you have added the correct payment method
  3. Select buy & sell on the website
  4. From the buy panel, search for Bitcoin using the search bar
  5. Input the correct amount of Bitcoin you wish to purchase
  6. Click on the preview to see your details before confirming your order
  7. Click on Buy now, and your order will be processed

Final words

For inexperienced individuals with cryptocurrencies, using Coinbase is a simple way to begin. With just a few taps, users may purchase and trade cryptocurrency thanks to its simple layout. There are several more options for purchasing cryptocurrencies like Bitcoin if you do not want to deal with Coinbase’s exorbitant costs and protracted processing delays. Although Coinbase fees can be a little confusing, they are determined by the kind of account you have, the volume of the transaction, and the financing source. The final price you pay may vary depending on your country or region, mode of payment, and the item.

 

Cover photo by PiggyBank on Unsplash 

DISCLAIMER: This article is sponsored and does not substitute for professional advice or help. Any action you take upon the information presented in this article is strictly at your own risk and responsibility.

OPPO Reno8 Full Review – Is This The Perfect Upgrade?

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *