Today there are many more options when you are trying to get started in Bitcoin and cryptocurrency than there were just a few years back.
But probably the way most people today get started is with the cryptocurrency exchange Coinbase.
I would be lying if I told you it was easy to set up an account with Coinbase. To be honest, it can test your patients in many ways, and you might just ask yourself why am I doing this. But you have to think long-term. Nobody who cussed their way thru the process a year ago, or four years ago, regrets the insane returns they have made in the crypto space. Just do it, and get started. If you’re a Millennial, you might be wondering what all the fuss is about as far as setting up an account, but if you’re a Babyboomer, try to find a trustworthy millennial that can help you.
Let’s get started. First off I tried joining Coinbase five years ago, I didn’t own a cell phone let alone a smartphone and they wanted to send me codes, SMS codes I think it was, I had never heard of an SMS code, and even if I had my landline wouldn’t accept codes, I was mad as hell, I thought do all these computer tech type people think everybody’s got a smartphone, but to be honest, I rarely see homeless people nowadays that don’t have a cell phone at least where I live.
After the first day of yelling and cussing, I decided to bring in my nephew, well versed in the ways of smartphones and computers, he had a smartphone and he knew how to use it, he could take pictures of my driver’s license, upload, download, and email, he could do it all. So this is where it starts you need a smartphone and somebody young enough who knows how to use it. If you have an I phone you can just call Apple and they can walk you thru anything you’re trying to do.
Next, there’s something called (KYC) or Know Your Customer, this is something the U.S. Government requires all exchanges in the United States to use. (KYC) requires proof of identity with a photograph and a proof of address. So if you don’t currently have an address you will have to use a friend or family member’s address, Coinbase asks that you don’t use a P.O. Box address.
Next, there going to want your name, then your email, then the state you reside in, and that you are at least 18 years old.
After that, they will send you an email with a code, type in the code. Now the fun part, this is all the government BS, or as stated above the KYC or Know Your Customer info that you must give to get started. Now don’t blow your top, just understand that today the government puts pressure on exchanges to do this, so you just have to jump thru the hoops. Ok. you’ve already given your name but now they want your legal first and legal last names, next you must give your date of birth, then, the last four of your social security number.
Now they’re going to want your residential address, and after that, some questions about why you want to join, just click the boxes that best apply.
Now it’s going to ask you to select ID type, either Passport, Drivers Licence, or National ID Card.
Most people use their Drivers license, you will need a picture of the front and the back, now upload it as a file onto your computer.
Now, you will click and drag the photo files into the two dotted square areas one for the front of your Drivers license and one for the back of your Drivers license click continue.
Now, they say that they must verify your identity and that they will get back to you within the next 24hours.
Now, once approved typically within 24hours you will be ready to link a bank account or a credit union account to your Coinbase account to fund it.
Now, after selecting the bank that you want to link to your Coinbase account it will ask you to enter your credentials, this looks exactly like when you login to your bank account with a box for your User ID and a box for your Password you log in with the same user name and password that you use with your bank.
After entering your bank User ID and Password, Coinbase will want to verify your identity, you will see a message pop up that will ask you “Where would you like to receive your security code? Here you will be given the choice of a text or a phone security code, once you receive the code type it in the box, and that’s it.
Your bank account will now be linked and you can fund your account and buy Bitcoin and other cryptocurrencies.
One more thing to consider before opening up a Coinbase or other cryptocurrency account is your Email Service provider.
I was using Microsofts Outlook Email Service when I got started and found it to be the most confusing difficult Email service out there, then somebody told me about Gmail and I was amazed at how easy it was to use, all of a sudden I could now email, the only problem was that it was Google and Google is well known for sharing all your personal data and everything about you with everyone, maybe not the best Email Service for cryptocurrency, after researching I found out that people in the cryptocurrency space typically use an Email service called ProtonMail for all their cryptocurrency-related accounts ProtonMail has the same easy to use format as Gmail but use something called END-TO-END ENCRYPTION, basically
END-TO-END ENCRYPTION just adds another layer of security to your account and the best part is ProtonMail offers paid plans and free accounts. Now, it’s not necessary to have a separate Email Account used only for your crypto, but I would highly recommend it. I hope this helped you and good luck,
Raymond Fletcher
