How To Set Up Your Coinbase Account / Purchase Cryptocurrency
Note: Participation in the Verasity Token Sale requires an ERC20 wallet and sending funds from an exchange wallet such as Coinbase will not work.
At Verasity we’re all about community. Whether that’s keeping you up-to-date with all the latest news, hearing your feedback, or making sure you’ve got the information you need to take part.
We know many of you out there are seasoned crypto-veterans. However, Verasity is a platform that aims to introduce crypto to the masses and that’s why in the upcoming series of articles we’ll be explaining how to do everything from setting up a Coinbase account to participating in the Verasity ICO.
In this article, we’re going to explain how to set up a Coinbase account and purchase either Bitcoin (BTC) or Ethereum (ETH).
Coinbase is not endorsed by Verasity. There are many other exchanges out there which you may prefer to use — please make sure you do your own due diligence and research. Participation in the Verasity Token Sale requires an ERC20 wallet and sending funds from an exchange wallet such as Coinbase will not work.
How to set up your Coinbase account
1) Visit https://www.coinbase.com/ — double and triple check the URL to ensure you are on the official Coinbase website.
2) Click sign-up and choose whether you want to create an individual or business account. Fill in your first and last name. Your email address. And then choose a secure password and certify that you are over 18.
Please note the password you choose must be 8-characters or longer and include numbers, capitals, small letters, and symbols. Try and avoid using anything that may be easy-to-guess.
Treat this process as seriously if you were setting up your online bank account.
Click “Create an account.” Verify your email and phone number.
3) You’ll now be taken to the Coinbase homepage. You’ll notice the Dashboard, Buy/Sell, Accounts, Tools, Settings and Invite Friends buttons. Down in the bottom left-hand corner click “Verify your identity”.
4) You’ll now be given three options to choose from Passport, Driver’s Licence, and Photo ID.
In this case, we’re going to upload a Driver’s Licence — please note the process is similar for all three options and fairly straightforward.
5) Select Driver’s Licence. You’ll then be given the choice to either upload an existing image of your ID — or you can take a picture using your Webcam. In this case, we chose the Webcam option. If your browser prompts, allow Coinbase to “Use your camera”.
Hold your Photo ID up to your Webcam and follow the advice Coinbase provides to ensure you get a clear image. Take a picture of the front and back of your licence.
6) Now take a selfie. Coinbase uses this to compare your likeness against your Photo ID to confirm who you say you are.
7) Coinbase will now verify your ID. When it is approved you will receive an email confirmation. Now you need to add a payment method to your account. Click “Add a payment method”.
8) You now have two options — in this case we’re going to show you how to add a Credit/Debit card as it is the quickest and easiest payment method to add. Bank Transfers can take up to a week to arrive in your Coinbase account and require extra verification steps. On the upside, you are able to transfer larger amounts of money using the Bank Account option.
9) Fill out the form with the details of the address your card is registered at and click “Add Billing Address”. Then fill in your card details with your name, the card, number, expiry date, CVC code, and Postal code. Then click “Add Card”.
How to buy Bitcoin or Ethereum using Coinbase
1) Now you have added the payment source you are ready to buy cryptocurrency! Click Buy/Sell in the navigation bar at the top.
2) You are now in the Buy/Sell screen which will default to buying cryptocurrency. For the Verasity Token Sale, you will be able to participate in Bitcoin and Ethereum.
The process of purchase is the same for both. In this tutorial, we will be showing you how to buy Ethereum.
You do not have to buy a whole Bitcoin (BTC) or Ethereum (ETH). Most cryptocurrencies are divisible — for example, you can buy smaller amounts e.g. 0.0030 ETH.
Click Ethereum.
3) Now enter in pounds (or your local currency), how much you want to spend. Coinbase will calculate what this equates to in the digital currency you have selected. In this example, we are buying the minimum allowed (£1.02). You’ll also notice that there is a small fee included, this can be seen in the breakdown on the right-hand side.
Please be aware that due to the volatile nature of cryptocurrencies, if you buy Bitcoin or Ethereum today it may not be worth that tomorrow. It may be worth less and you’ll need to buy more to participate in the Verasity Token Sale. On the other hand, it might be worth more and you’ll have more to participate with.
4) Click Buy and Confirm Buy.
5) Congratulations! You have now bought your Ethereum and it will be stored in your Coinbase exchange wallet.
6) If you click Accounts, you’ll now be able to see your transaction and how much you have in your wallet.
Coinbase is not endorsed by Verasity. There are many other exchanges out there which you may prefer to use — please make sure you do your own due diligence and research. Participation in the Verasity Token Sale requires an ERC20 wallet and sending funds from an exchange wallet such as Coinbase will not work.
Join our community:
If you want to join the conversation about Verasity then please follow our various accounts below!
Website: https://verasity.io
Telegram: http://t.me/verasitychat
Twitter: https://twitter.com/verasitytech
Facebook: https://facebook.com/verasitytech
Verasity is a leading video platform providing unique Rewarded Player Technology to major publishers across the globe.
Our patent pending Rewards-as-a-Service (RaaS) Player enables VRA rewards, monetization and loyalty schemes within the player wallet. Our player technology is already available to 280,000 publishers with 240 million users and 50 billion monthly views. This brings engagement, audiences and revenues back to publisher sites. Our attention-based model creates a thriving VRA token economy between viewers, publishers and advertisers.
Verasity is the future of online video — Reach, Reward, Retain.
