Coinbase: a mobile application of the cryptocurrency exchange

To make cryptocurrency trading quick and easy, the exchange Coinbase (go online) has developed an app for mobile devices that is available for iOS and Android gadgets. The iOS program can be downloaded from the App Store. You can find it by opening the app store on your device and entering – Coinbase: Buy Bitcoin & Ether. The Android application can be installed from the Google Play store by the same name.

Registration and Verification

You can register a new account in the branded application. To do this, you need to fill out a special form and submit it for verification. After registering, you can use the identity verification feature. In the “Profile” section of the application, you can go to the page for adding an ID. Following the instructions of the application, it is necessary to upload a photo of the document in order to pass the verification. Cell phone verification is also available. There is a section in the profile called “Account – Phone numbers”. You need to go to it to specify your number. The service will send to it an SMS-message with a code, which must be entered in a special field in the application.

Binding the payment method

Coinbase users can add methods of payment in the app. To do this, go to the profile, select “Settings” and click on “Add payment method”. Having specified the appropriate option, you can complete the check according to the instructions. They depend on the method of payment. It is also possible to add during the purchase of coins. To do this, after clicking on the “Buy” button and selecting the asset you need to click on “Add payment method”. By following the step-by-step instructions, you can quickly complete the checkout.

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Repeat purchases

The Coynbase app allows you to activate and deactivate recurring purchases. To activate, go to the “Buy” section, select the asset of interest and specify the amount. You also need to select the period with which the currency purchases will be made and the payment methods. After clicking on the “Buy now” button, the function will be activated. You can cancel it in the “Trade” tab. On the page “Repeated purchases” select the transaction and cancel it.

Purchase with a card

You can also purchase assets from a card equipped with 3D Secure in Coinbase’s proprietary application. To do so, you must:

• Tap the menu icon in the upper left corner of the screen to open the navigation bar.
• Click on “Buy” and specify the amount in digital currency or fiat.
• Choose a wallet, where the deposit will be credited.
• Specify a 3D Secure bank card and click “Buy”.
• Select “Confirm Now” in the new window. The service will redirect you to the secure card issuer portal.
• Perform all steps to authorize the operation.
• When the operation is complete, the user will be redirected back to the application.

Sending and receiving coins

Through the application, it is possible to send assets to other users of the crypto exchange. To do this, the user must do the following:

• Click “Send” on the “Home” or “Pay” tab.
• Specify the currency and enter the amount to be transferred.
• Press “Continue” to confirm the details of the operation.
• Enter information about the recipient. You can enter an e-mail, a user’s phone number or a cryptographic address. You can also scan a QR code or select a friend from your contact list.
• Click “Preview” to view the details.
• Click “Submit Now” to complete the procedure.

If the address belongs to a Coynbeys customer who does not have instant dispatches enabled, transactions will be executed online, making it necessary to pay network fees. Also, if assets are transferred to an address not affiliated with the exchange user, network fees will be deducted. To receive funds from other Coinbase customers, a feature can be set up through the app. To do so, the user must:

• Click “Get” on the “Home” or “Pay” tab.
• Specify an asset. The QR code and address will be filled in automatically.

To receive cryptocurrency, you can share the address, click on “Copy” or allow QR scanning.

Conversion

In the branded application, you can exchange currencies with each other. This is done instantly, so the transaction is not undone. To convert coins in the program, you need:

• Click “Convert” on the “More” tab.
• On the panel, specify the currency to be exchanged for another.
• Enter the amount. Click on “Pre-conversion” and confirm the operation.

Increase in limits

Each Coinbase account has its own purchase and deposit limits. Users can apply to increase these amounts through the web platform and mobile app. If a trader qualifies, verification of identity, account, payment methods and personal information may be required to access the new limits. To apply for an increase on the app, you must:

• Log in.
• Go to “Profile and Settings”.
• Click Restrictions and Features.
• Click “Increase Limits – Apply Now”.

The service will check the information to know that the user qualifies. Within 2 days, the trader will receive an email stating whether he or she is eligible for an increase in limits.

Coinbase Wallet

For the wallet. Coinbase Wallet has developed its own application. To start working in it, you have to create a new wallet or import an existing one using a recovery phrase from another provider. To do this, first download and install the application. Here they select “Create a Wallet”, read and agree to the privacy policy and terms of service. Next you need to do the following:

• Specify the user name. You can use it to find the client and send payments to him.
• Configure privacy settings.
• Choose the security method – code or biometrics.
• Create a backup copy of the recovery phrase. You can copy to the cloud or “manually”. In the first case, you must set a password to encrypt the copy. If you select “manually”, the phrase will be shown for writing and copying to a safe place.

If an existing wallet needs to be imported, the user must go to the program in which it is stored. The transfer uses a recovery phrase, which consists of 12 words and is stored with the customer. When an existing wallet is imported with a recovery phrase into Coinbase Wallet, you can continue to use your wallet with different providers. All transactions made are displayed at all providers. While the recovery phrase is portable, the application or cloud copy password depends on the provider. To import a third-party wallet into Coinbase Wallet, you need to follow these steps:

• Install the application. Open MetaMask or a browser extension.
• Enter the password to access the wallet. Go to the menu at the top left of the application or at the top right of the extension. Go to settings.
• Select “Security and Privacy” and click to reveal the recovery phrase, enter the password to continue, copy the phrase and save it.
• Open Coinbase Wallet and select “Already have a wallet. Click the “Restore with phrase” button.
• Enter a passphrase. Select a username and configure privacy settings. Specify the security method – biometrics or password.