Introduction:
Cryptocurrency is a digital currency that uses cryptography for security and operates independently of any central bank. It is becoming increasingly popular among people as an alternative investment option, but getting started with cryptocurrencies can be confusing and intimidating. This article aims to guide you on how to obtain complimentary cryptocurrency on Coinbase, the most popular cryptocurrency exchange platform in the world.
How to Sign Up for a Coinbase Account:
Before you can start trading cryptocurrencies on Coinbase, you need to sign up for an account. To do this, visit the Coinbase website and click on the “Sign Up” button. You will be prompted to enter your personal information, including your name, email address, and phone number. Once you have filled out the form, you will need to verify your identity by entering a verification code that will be sent to your phone or email address.
How to Verify Your Identity:
Verifying your identity is an essential step in setting up a Coinbase account. This step ensures that only legitimate users are allowed to trade on the platform and helps prevent fraud and money laundering activities. To verify your identity, follow these steps:
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Click on the “Verify Identity” button in the “Settings” section of your Coinbase account.
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Select the verification method that you prefer. You can choose to verify your identity using your phone number or email address.
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Enter the verification code that will be sent to your phone or email address.
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Click on the “Verify” button to complete the process.
How to Get Complimentary Cryptocurrency:
Coinbase offers a variety of ways for users to obtain complimentary cryptocurrency. Here are some of the most popular methods:
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Signing Up Referral Bonus: Coinbase offers a sign-up referral bonus that allows you to earn free cryptocurrency when you invite friends to join the platform. To qualify for the referral bonus, you need to have a verified Coinbase account and invite at least three new users. You will receive 10% of the trading fees paid by your referrals in the form of complimentary cryptocurrency.
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Crypto Cashback Rewards: Coinbase offers crypto cashback rewards for purchases made with the Coinbase debit card. When you make a purchase using the Coinbase debit card, you can earn up to 1% in free cryptocurrency. The cashback is automatically added to your Coinbase account balance.
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Staking Rewards: Coinbase offers staking rewards for users who lock up their cryptocurrencies in a staking pool. When you stake your cryptocurrency, you can earn up to 8% in annual interest, which is paid out in the form of complimentary cryptocurrency.
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Earn Interest on Crypto: Coinbase also offers an interest-earning feature that allows users to earn up to 5% in annual interest on their cryptocurrency holdings. The interest is automatically added to your Coinbase account balance, and you can withdraw it at any time.
How to Trade Cryptocurrencies on Coinbase:
Once you have obtained some complimentary cryptocurrency, you can start trading on the Coinbase platform. Here are some of the most popular methods for buying and selling cryptocurrencies on Coinbase:
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Buying with Fiat Currency: Coinbase allows users to buy cryptocurrencies with fiat currency, such as US dollars or euros. To do this, you need to have a verified Coinbase account and add your bank account information. Once your bank account is linked, you can use it to purchase cryptocurrencies on the platform.
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Buying with Cryptocurrency: Coinbase also allows users to buy cryptocurrencies with other cryptocurrencies. This method is known as trading pairs, and it offers more flexibility than buying with fiat currency. To trade using cryptocurrency, you need to have a verified Coinbase account and add your cryptocurrency wallets.
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Selling: Once you have purchased cryptocurrencies on the Coinbase platform, you can sell them for profit. To do this, you need to have a verified Coinbase account and add your bank account information. Once your bank account is linked, you can sell your cryptocurrencies for fiat currency and withdraw it to your bank account.