How to Setup a Coinbase Bitcoin Wallet
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Pretty much every person today has how to setup my bitcoin wallet PayPal account and uses it to make purchases or send and receive payments from other people. A cryptocurrency wallet provides the same functionality, but with a couple differences. When you go to Coinbase. Select the checkbox and then click the Sign Up button. Phone verification is necessary to serve as a secondary authentication source to further protect your wallet.
The one caveat to this is you will need to enter your cell phone number. Once you enter your phone number you will receive a text message with a verification code to enter on the site. Enter the code and verification is now complete. I chose to link both my PayPal for how to setup my bitcoin wallet my account and bank account for withdrawals.
This allows me to have funds available immediately when transferring to my Coinbase wallet that I use when purchasing hashpower at Genesis-Mining. During this part of the setup process I would recommend linking your bank account as no ID verification is required for that step. If you have a camera on your computer you can upload the image that way. I found it easier to install the Coinbase app on my smartphone and how to setup my bitcoin wallet my ID that way. This will enable your camera and allow you to upload your ID.
Once your ID has been verified you will be able to complete your account linking and start transferring funds. The last thing we need to do is validate our identity by filling out your account profile form. When you go to your account settings you will see a link like the one below.
Click that and it will take you how to setup my bitcoin wallet the Identity Verification form. Enter your information and this step is complete and your wallet is now active. Now that your Coinbase wallet is active and your accounts are linked you can send or receive Bitcoin.
To receive Bitcoin you simply provide people with your Bitcoin wallet address that they send the funds how to setup my bitcoin wallet. A window will pop-up as shown below. The long alpha-numeric address is the address to your wallet. Provide this address or your email to people sending you BTC. This is also the address you can use to have your mining profits sent to you. For example if you purchase hashpower from a cloud mining site like Genesis Mining, when your purchase is complete they provide a BTC address to send the funds to.
Copy that address and use it to send the BTC funds, which will complete the transaction. You can also use this wallet to receive Bitcoin mining proceeds from sites like Genesis-Mining. To comment on this article, you must sign how to setup my bitcoin wallet or sign up and post using a HubPages Network account. Other product and company names shown may be trademarks of their respective owners. HubPages and Hubbers authors may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
To provide a better website experience, hubpages. Please choose which areas of our service you consent to our doing so. For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: Coinbase is used as an exchange between your local currency and cryptocurrency. So if a person wanted to own Bitcoin, Ethereum or Litecoin as a investment they can simply buy the currency with USD and hold it in the wallet.
If the price goes up you can then exchange your cryptocurrency back to USD for a profit. One of the reasons I use my cryptocurrency wallet is to have my cloud mining proceeds deposited in BTC daily. Phone Verification Phone verification is necessary to serve as a secondary authentication source to further protect your wallet. Identity Validation The last thing we need to do is validate our identity by filling out your account profile form. Receiving Bitcoin Funds Now that your Coinbase wallet is active and your accounts are linked you can send or receive Bitcoin.
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