Which cryptocurrency exchange you use can have a big impact on how quickly and easily you can buy and sell digital coins. For example, if you’re just getting started with investing in virtual currencies, it might be best to choose an exchange that makes it easy to fund your account using a credit card or bank account. Other exchanges might not support these funding methods, which would make things a little more difficult for you. In this article, we’ll take a look at both of these factors when considering the pros and cons of various cryptocurrency exchanges. We’ll also explain why each of these features is important when choosing an exchange, as well as offer some advice on how to add money to Coinbase fast and easily.
How To Add Money To Coinbase
1. Credit/Debit Card
Coinbase offers two funding options for buying cryptocurrency: bank transfer and credit/debit card. If you’re looking to buy your first bitcoin or ether, we recommend using a credit or debit card. This is because it’s much faster and easier than the bank transfer method. With a credit or debit card, you can link your account directly to your bank account and make a purchase in seconds. Then, once the transaction is complete, you can use the funds to buy bitcoin. One thing to keep in mind when buying digital currency via Coinbase with a credit card is that there are fees associated with each transaction. In fact, Coinbase charges one of the highest fees for its services among all U.S.-based exchanges. However, if you’re just trying to get your feet wet in the crypto market, this might not be too big of an issue for you since most people won’t be trading with huge amounts of money.
2. Bank Transfer
If you don’t have or don’t want to use a credit card, Coinbase also allows you to add funds directly from your bank account. This is a little slower than using a credit card, but it’s still faster than many other exchanges (for example, Gemini and GDAX can take several days). It also has the added benefit of being free since there are no fees associated with bank transfers. Another perk of this option is that it allows you to buy digital currency in larger amounts than what you can purchase via debit or credit card. For example, the maximum amount that you can use a debit or credit card to purchase is $25,000 per week (or $250 per day) while bank transfers allow for up to $100,000 at one time.
3. Coinbase
Coinbase is one of the most popular cryptocurrency exchanges in the United States. It offers users the ability to buy and sell Bitcoin, Ethereum, Litecoin, and more. Coinbase is also one of the easiest exchanges to use for beginners. It’s a great option for people who want to try their hand at cryptocurrency trading but don’t want to deal with complicated user interfaces or other advanced features that might be intimidating.
4. Binance
Binance is a newer cryptocurrency exchange, but it’s quickly gained popularity because of its advanced features and low fees. It’s also one of the most user-friendly exchanges out there. While it doesn’t support fiat currencies, meaning you can’t use U.S. dollars to buy cryptocurrencies through Binance, it does make it easy to deposit and withdraw digital coins.
5. Gemini
Gemini is another popular cryptocurrency exchange that’s great for beginners because of its user-friendly interface and easy-to-follow steps for funding an account. The downside is that Gemini doesn’t offer access to as many different coins as some other exchanges do. Still, it offers support for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Zcash (ZEC), Bitcoin Cash (BCH), and more, making it a good option for people who want to buy cryptocurrencies with fiat currency), and Bitcoin Cash (BCH).
Why Would You Want To Add Money To Coinbase?
- Coinbase is one of the most popular cryptocurrency exchanges in the world. It’s also one of the largest and most trusted. In fact, Coinbase is a so-called “unicorn” company, valued at over $1 billion.
- Coinbase makes it easy to buy and sell cryptocurrencies using your bank account or credit card. This means that you don’t need to worry about funding your account with Bitcoin or Ether before you can begin trading.
- The platform has a clean user interface which makes it easy to buy and sell digital coins like Bitcoin, Ethereum, and Litecoin. You can even use your Coinbase wallet as offline storage for your private keys if you want to take additional security precautions for any of your digital assets held on the platform.
- You can use Coinbase to purchase digital currencies using several different methods including credit cards, bank transfers, or wire transfers in supported countries (not available in all countries). As mentioned above, this makes it easy for beginners to buy and sell cryptocurrencies.
- Coinbase is one of the most popular cryptocurrency exchanges, which means that it’s likely to be supported by other exchanges in the future. This means that you can easily move your digital coins out of your Coinbase wallet and into other platforms.
What Are The Benefits Of Adding Money To Coinbase?
1. Credit Card Purchases
Buying cryptocurrencies with your credit card can be a quick and convenient way to purchase coins. Coinbase supports VISA, MasterCard, and American Express. The downside is that this convenience does come at a price. Credit card fees tend to be rather high, with Coinbase charging 3.99% for all credit card transactions (this fee may vary depending on the country you live in). If you’re looking for a way of funding your account that is quick and easy, then this option might be worth considering – but you should be aware that the higher fees may end up eating into any profits you make from trading cryptocurrencies.
2. Bank Account Transfers
If you have a bank account, then transferring money into your Coinbase account directly can be an efficient way of funding your account and buying coins. When you add money to Coinbase using bank transfers, there are no fees whatsoever (unlike with credit cards). However, it’s important to note that there can be a delay of several days before the money appears in your account. This is because Coinbase needs to verify your bank account details. If you’re looking for a more immediate way of adding money to your account, then using a credit card might be better.
3. Paypal Payments
PayPal has long been an option for making online payments, and it’s also possible to link your PayPal account to your Coinbase account and use it as a way of funding your cryptocurrency trading activities. Depending on how much you’re transferring, this can be an inexpensive way of adding money to Coinbase, but it does have some downsides. For example, there are some countries where PayPal is not available at all – so if that’s the case for you, this option won’t work for you at all. Another problem is that when you use PayPal, there can be delays of several days before the funds appear in your Coinbase wallet – which means that if buying coins, then a credit card might be a better option.
4. Bank Wire Transfers
If you have a bank account that you’re happy to use, but would prefer not to wait around while money is transferred from your bank account, then Coinbase offers the option of using bank wires. When using this method, Coinbase will send you an address that you can use to send money directly from your bank account to the exchange. This means there are no fees for transferring money into your Coinbase account and you can begin trading immediately. However, it does mean that both the sender and recipient need to have accounts with the same bank in order for this method to work (which can be limiting). Also note that when using this method, it can take several days for funds from a bank wire transfer to appear in your Coinbase account.
5. Debit Card Purchases
Another way of funding your Coinbase account is by purchasing cryptocurrencies with your debit card. This is another of adding money to your account, then you’re better off choosing a different funding method.
Final Words
Now that we’ve taken a look at some of the pros and cons of Coinbase, let’s recap. First, it’s important to note that this exchange supports all US residents, regardless of which state they live in. This is a big advantage, particularly for people who live in states that don’t have easy access to certain cryptocurrencies. Next, it’s important to point out that Coinbase makes it easy to fund your account using a credit card or bank account. Unfortunately, it’s also important to note that Coinbase charges a fee on each transaction. This fee is 1.49 percent, which isn’t too high, but it also isn’t entirely cheap. It’s also important to point out that, while Coinbase supports all US residents, not every state has access to every asset. For example, if you live in New York, you won’t have access to Ethereum Classic.
