Coinbase is a cryptocurrency exchange. It’s one of the most popular ones because it’s easy to use and you can buy a lot of different cryptocurrencies on it.
One of those and maybe the most famous cryptocurrencies is Bitcoin, which is a digital asset and a payment system.
In this article, the author gonna explain how long does it takes to buy bitcoin on Coinbase and tips how to do that easy as well, for those who are looking forward in crypto-world.
How long does it take to buy bitcoin on Coinbase
It’s important to note that the time it takes to buy Bitcoin on Coinbase can vary depending on a few factors. For example, if you’re using a credit card, the transaction may take a bit longer to process.
Additionally, traffic on the platform can also affect how long it takes to buy Bitcoin.
Buying Bitcoin on Coinbase usually takes around 10 minutes, but this can vary depending on the payment method and how experienced the buyer is.
Assuming the buyer has some previous experience, the payment method used is a credit card, it would take approximately 10 minutes to buy Bitcoin on Coinbase.
For unexperienced once, here are some tips before buy Bitcoin
Set your ID ready
Create an account
Creating an account on Coinbase is easy and only takes a few minutes. Serach for Coinbase web site and go sign up.
Verify your identity.
In order to verify your identity, you will need to provide some personal information, such as your name, address, and date of birth. You may also be asked to provide a photo ID.
Add payment method
In order to buy Bitcoin on Coinbase, you will need to add a payment method. You can do this by linking a bank account or credit card to your Coinbase account. Once you have added a payment method, you will be able to buy Bitcoin on Coinbase.
Bank account – A bank account is a type of savings account that allows you to deposit money and withdraw it whenever you want. This is the best option if you want to buy bitcoin with a debit card, as it allows you to make transfers quickly and easily.
Debit card – A debit card is linked directly with your bank account and allows you to spend money by drawing on your funds. This is the best way to buy bitcoin if you don’t have a bank account, as it doesn’t require any extra steps like transferring money into an online wallet.
2. Credit card – A credit card is a type of loan that allows you to borrow money up to a certain limit in order to purchase items or withdraw cash. This option can be expensive in the long run, so it’s not recommended for buying bitcoin.
3. Debit card – A debit card is linked directly with your bank account and allows you to spend money by drawing on your funds. This is the best way to buy bitcoin if you don’t have a bank account, as it doesn’t require any extra steps like transferring money into an online wallet.
Once you’re logged in, you can add a payment method. You can then buy Bitcoin by selecting the “Buy/Sell” tab and clicking on “Bitcoin.”
Enter the amount you want to buy, and it,s done.
What are Gas fees for Bitcoin
Gas fees are what you pay to miners in order to have your transaction processed on the Bitcoin network.
The higher the gas price, the faster your transaction will be processed. However, it’s important to note that you don’t want to overpay for gas, as this can be costly. You can use an online gas calculator to estimate the cost of a transaction.