In Nigeria, potential cryptocurrency traders have been trying to find a suitable exchange (platform) to carry out transactions especially since the ban.
Coinbase is one of the online platforms secure for investments, trading, transferring as well as storage of digital currencies.
This platform has been in existence since 2011, it is one of the most popular and most used platforms in Nigeria.
Coinbase obtains crypto assets like Bitcoin, Litecoin, and Ethereum through mining or exchanges.
However, this platform runs in about 32 other countries with Nigeria included and said to be in four basic lines of trading and these are;
- GDAX
- Custody
- Toshi
- Coinbase
How to open a Coinbase account
Coinbase account is opened either through the website or by downloading the Coinbase app. However, to open through the website requires you to do the following:
- Log on to the Coinbase platform
- Click ‘START’
- Enter full name
- Enter your email address
- Enter preferred password
- Enter your state/ location
- Ensure to read the terms and conditions and privacy policy
- Click ‘create account’ or ‘sign up’
- Coinbase will send a verification code, check your email
- Click verify email address, then return back to the initial website page
- Now you are required to sign in with the new password
- Enter your phone number as prompted
- Choose your country
- Then enter a mobile number
- Click continue
- Enter the 7 digit pin sent to as a text message
- Click continue
You will need to complete the following before your account is created:
- Enter your first and last name
- Enter your date of birth
- Enter your address
NB: All this information listed above must be the same as you have it on your presented government ID like NIN, international or national passport.
Now get ready to answer the following questions:
- Your source of fund
- Occupation
- Current employer
- The purpose of the account
- Then select “continue”
Lastly, sign in to your account and verify identity as well as choose Nigeria as your country and means of payment’
Mission of Coinbase
- To provide adequate security and support
- To bring ease to every cryptocurrency trader
- To initiate a wide-open economic system for the globe even Nigeria
- To be a leader in the conversion of digital currency exchange
- To offer even a wallet to wallet, exchange, and tools within an interface
NB: Immediately you make a deposit or you purchase a currency it reflects in your Coinbase account as soon as the transaction is received.
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