How to trade on Coinbase Crypto Exchange?

Crypto Exchange Coinbase offers not only trading in digital assets, but also many additional tools for traders on the site coinbase.com. The service offers a service “Wallet in USD” and “Virtual Wallet with cryptocurrency,” which allows you to store USD and coins for free. The exchange does not charge a transfer fee Cryptocurrencies from one wallet to another. This does not apply to Coinbase Wallet, a wallet product with its own hosting.

Coinbase Wallet

Wallet – Wallet crypto exchanges with self-storage. The keys, which represent ownership of the coins, are stored on the user’s device rather than in an exchanger like Coinbase.com. Coinbase is a brokerage company that can store cryptocurrency for users, and Wallet is a wallet that gives direct control over cryptoassets. In such a wallet, personal keys are on the trader’s device. A 12-word recovery phrase gives access to and control over assets and the wallet. Any user can have such a wallet, even if there is no email address or bank account. Also the pros of Coinbase Wallet include:

• Ability to store different cryptocurrencies and NFT.
• Support for most tokens and DeFi applications.
• Protecting assets with state-of-the-art solutions.

Wallet allows you to use the tools of decentralized networks. DeFi Suitable for a variety of purposes, including making a profit or adding to an NFT collection. DeFi pools are used to offer or borrow digital assets. Asset exchanges on decentralized exchanges and participation in the creation of the Web3 project are also available. Users can connect cryptocurrency wallet to a Coinbase account to quickly buy assets or transfer them from an exchange account to your own wallet. To do this, you need:

• Open Wallet and go to settings.
• Select “Connect to Coinbase”. If you have an account, you can choose to connect your personal account. If not, registration is available.

To start working in the wallet, you can refill it ETH, DAI, USDC or other cryptocurrency. There are several ways:

• Buy or transfer from Coinbase.
• Transfer from another wallet.

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If you already have a Coinbase account, you can buy coins directly from the platform to deliver it to your wallet. Purchase Procedure:

• On the “Wallet” tab in the application, select purchase or transfer.
• Click on “Purchase or transfer from Coynbeys.
• For users with a Coinbase account, select “Sign up for Coinbase. If you don’t have an account, select “Sign up for Coinbase” and follow the instructions to create one.
• When the Coinbase account is linked to the app, select “Buy or Transfer”.
• Specify the asset to be bought and the amount. You can specify the amount in dollars or cryptocurrency.
• When purchasing, select an existing payment method or click on “Add bank card”.
• View the details and select Confirm.

Trade

The Trading page displays the current list of cryptocurrencies, their current price and percentage change over a certain period of time (-1 day by default). The list is ordered by market capitalization, but you can also sort it by leaders of growth and loss or traded assets. If the user is logged in, he can click on the star icon to add the asset to the watch list. It appears on the Coinbase home screen, and when a currency is selected, price notifications can be received for each coin being tracked on iOS or Android using the mobile app.

On the trade page, you can also select an individual asset. The window that opens will display a price chart, market capitalization, 24-hour trading volume, negotiable supply and historical maximum. For some assets, a brief description, news articles, user reviews and useful links to other resources, such as the official website or a technical document, are available. If a user is logged in and viewing the asset being traded, they also see additional information obtained from Coinbase and Coinbase Pro data and available only on the exchange platform.

Trading activity shows the percentage of clients who have increased or decreased their net position in an asset in the last 24 hours through trading. Typical hold time displays the average amount of time users typically hold an asset before selling it or sending it to another account. This time can be affected by any number of factors, including individual financial circumstances, risk appetite, and investment strategy.

Popularity on Coinbase shows how many customers own the asset compared to other currencies. Price correlation measures the price trend of other assets at the same time as the coins shown on the page. A market order and a limit order can be placed on the order panel. The former will be executed immediately at the current best available market price. The limit order allows you to set a minimum price to execute the order. A stop limit order allows you to specify the stop price the order should execute. If the market order price falls to the stop price, a sale will be triggered.

Advanced Trade

The Advanced Trading Platform offers the same tools as Coinbase Pro, including interactive charts, advanced order types and order books. Market, limit and stop-limit orders are available. You can earn 5% rewards APY on USDC, ETH2 on the platform, ALGO, DAI, ATOM, XTZ. Because Advanced Trade is on Coinbase.com, users get all the benefits of one account. They can trade, bid, borrow, earn and spend assets from their Coinbase balance. Whether it’s topping up their wallet for their next NFT purchase, receiving Coinbase card rewards, or betting on ETH2, they can do that and make advanced trades from one account.

To work on the platform, you need to transfer funds from Coinbase Pro to Advanced Trade. To do this, you need to initiate an operation in the “Portfolios” section by selecting “Withdraw”. You can select “All Portfolios” to send all funds or specify assets to be transferred individually. Funds in open orders cannot be included in the transfer. When the transaction is executed, the funds will be immediately available for trading on Coinbase. Advanced Trade provides more robust tools to make better decisions. There is access to real-time market information through interactive charts, order books and real-time trading history in the advanced trade view.

The depth chart is a visual representation of the order book, showing buy/sell orders in a range of prices and aggregate size. The order book panel shows open orders in a ladder format. The open orders panel shows producer orders that have been placed but not executed, canceled, or whose expiration date has expired. Price Chart – A quick way to view historical prices. You can customize the display of the price chart by time range and chart type, and use a number of indicators to get additional insight into price trends.

Sending and receiving cryptocurrency

Users can use Coinbase wallets to send and receive supported cryptocurrencies. These features are available on mobile devices and through a browser. If a trader sends coins to an address belonging to another Coinbase customer who has selected instant send, they can use offline send. Offchain sends are instantaneous and require no transaction fees. A chain send will only incur network fees. To send assets, you need to:

• In your personal cabinet, click “Send” or “Pay” on the left side of the screen.
• On the new tab, enter the amount of cryptocurrency to be transferred.
• Enter the cryptographic address, phone number or email address of the person to whom the cryptocurrency will be sent.
• Press “Pay with” and select an asset.
• Click “Continue” to view the details, and “Submit Now.

You can also share your unique crypto-address to receive funds through your browser or mobile device after logging in. It is available to enable instant sending in your privacy settings. In this case other users will be able to send money instantly and for free. If a trader opts out of this feature, any sends to their crypto address will remain in the chain. To receive assets from other users, you need:

• From the toolbar, select “Pay” on the left side of the screen.
• Click on “Get” and specify the asset you want to get. After selecting the object the QR code and address will be filled in.

Cryptocurrency conversion

Users can trade between the two cryptocurrencies directly. This is done by using the coin-to-currency exchange function. All transactions are executed immediately and therefore cannot be reversed. To convert a currency, you have to do the following:

• Login to your Coinbase account. Click “Buy/Sell – Convert”.
• When a panel appears with the ability to convert one cryptocurrency to another, enter the amount to be exchanged.
• Click “Preview – Convert”. Confirm the operation.

Lending

Exchange users can use the possibility of obtaining a loan. Clients from not all countries are eligible to borrow money. To check the possibility of taking a loan, it is necessary to go to the “Lending” section on the Coinbase website, which will indicate whether the trader can count on a line of credit. If eligible, the user can borrow up to 40% of their BTC balance on Coinbase, but no more than the maximum, which depends on where they live – from $100,000 to $1,000,000. THE MAXIMUM IS $1,000,000. The annual rate is 8%.

If the dollar value of BTC increases, additional borrowings can be made from the line of credit if the total amount borrowed is less than 40% BTC. If the user wants to close the line of credit, he must first repay the entire outstanding balance. After repayment, he can contact customer service to request closure.

Interest is accrued each day based on the daily interest rate (calculated as the annual rate divided by 366) and the outstanding principal amount of the loan. On the 1st day of each month, interest for the previous month is added to the account. Any amount paid before the 1st will automatically be applied to the principal amount of the loan, reducing interest payments overall.

You can get the credit through a bank account. You can use a linked account to receive funds through ACH or a bank transfer. Depending on the bank, funds may be available within 1-3 business days. You can also choose PayPal to receive up to $10,000, which will be transferred immediately. Interest must be paid each month. The principal is due on the day the line of credit is discharged, but it can be repaid earlier without fees or penalties. Interest continues to accrue on unpaid principal.

If using a bank account to pay, you need to make monthly payments between the 1st and 15th of each month to avoid delinquency and selling your BTC deposit, as banks can take 3-5 transactions to process your transaction. Payments through a linked wallet in U.S. dollars are made instantly. If the payment is not received by the 20th, Coinbase will sell enough BTC collateral to cover it, plus 2% of the total transaction amount. On the 1st of each month, the service will send a monthly payment report indicating the amount to be paid later that month.

You can pay for the service from a bank account (ACH). It must be linked to a Coinbase account. Because ACH takes 3-5 business days to process, you have to pay from the 1st to the 15th of each month so that the BTC deposit is not used as payment. If you need to add a new account to get credit or make payments, you should keep in mind that it may take a few days to verify the new information. If there are enough funds to cover the loan payment, you can use the dollars in your Coinbase account for immediate payment.

Repeat purchases

The exchange offers the ability to set up recurring purchases. You can do this in the mobile app or the web version of the site. To set up the feature in your browser, do the following

• Click “Buy/Sell”.
• On the “Buy” tab, select a cryptocurrency and enter the amount.
• Choose how often the purchase will be repeated and the method of payment.
• Click “Pre-purchase – Purchase Now”.

You can also cancel a recurring purchase in the browser or mobile app. To do this, go to the “Trade” tab, in the “Repeat purchases” section select the transaction you want to cancel, click on cancel and confirm.

Coinbase Card

The company has a Coinbase Card, which allows you to spend money from cryptocurrency wallets available on the exchange. It can be issued to EU, UK and U.S. residents. Like any debit bank card, the Coinbase Card must be activated before use. This can be done in the Coinbase Card app or by calling support by selecting “Settings” – “Call Technical Support”.

The card can be used wherever Visa cards are accepted. You can also withdraw money from it in cash at ATMs. The card takes up to 5-7 days to be delivered. They are sent out in the afternoon. If an order is placed in the evening, the Coinbase Card will be sent the next day. The following fees apply:

• for issuing a plastic card – 4.95 euros;
• for cash withdrawal within the country – up to 200 euros free of charge, over – 1% of the amount;
• for cash withdrawal abroad – free of charge up to 200 euros, 2% over;
• for the transaction of purchase in the country – 0;
• for intra-EU purchases – 0.2% of the transaction amount;
• for international purchases – 3% of the cost;
• for a replacement card – 4.95 euros;
• for the processing of the return payment – 20 euros;
• for the elimination of cryptocurrency – 2.49%.

You can receive a reward for paying by Coinbase card. It can be selected in your account. Once a reward is specified, it will be applied to all expenses, regardless of the cryptocurrency that was spent. The reward is paid after the transaction is completed within 1-5 days. ATM withdrawals and chargeback transactions are not eligible for rewards. Advantages of the Coynbeans card:

• Up to 4% back on every purchase.
• Fees that can increase in value over time.
• Earning cryptocurrency without buying coins.

Coinbase One

The beta version of Coinbase One is a subscription, which gives users of the exchange a number of benefits:

• Zero trading commission.
• Dedicated phone support around the clock.
• Account protection for 1 million USD.

Users can sign up for a renewable subscription, which requires regular payments. You can pay for the beta through your bank account, debit card, or U.S. dollar balance. To cancel your Coinbase One subscription, do the following:

• Sign in to your account.
• Go to settings.
• Select “Beta testing Coinbase One”. Click on “Manage – Unsubscribe”.
• Confirm the operation.

If the payment cycle is not closed, you can select Coinbase One in your settings and renew your subscription to activate it.

Coinbase Pay

Coinbase Pay is a payment feature that allows you to buy or transfer supported cryptocurrency to Coinbase directly from self-service wallets (such as MetaMask) and decentralized apps. A third-party app must support Coinbase Pay in order to use this feature.

Gift

Coinbase users can send cryptocurrency as a gift to their acquaintances. Recipients must reside in a country where cryptocurrency conversion is allowed in order to receive the assets. Coins can only be sent to an email address. Such gifts cannot be cancelled if sent to an activated account.
Therefore, before sending cryptocurrency, it is necessary to check the recipient’s e-mail. How to make a gift:

• Go to the exchange site. Click on “Send Gift” in the menu on the left.
• Select the asset to be donated and enter the amount. Click on “Continue”.
• Enter the recipient’s email address.
• Choose a card design and add a note.
• Click “Give Now” to send the gift.

If a gift is sent to an activated Coinbase account and it is accepted, it cannot be cancelled. But once the recipient’s account is verified, they can send coins back. If a gift is sent to the wrong email, the gift can be cancelled.

There are no restrictions on the type of cryptocurrency that can be sent. To see the crypto-gifts that have been received or sent, it is necessary to go to the “Trading” section and select the asset that has been gifted to view the full history of transactions. By selecting one of the transactions, the user will be able to find out such information:

• The name of the recipient or sender.
• The price per coin (the monetary value of the coins donated).
• Status.
• Note.
• Card design.

To view a cryptocurrency gift with an animation as if sent or received, you need to go to “Notifications” and open the message with the gift. Any unclaimed cryptocurrency sent via email will be returned to your Coinbase account after 30 days. If more than 30 days have passed and coins are not returned, you need to contact exchange support.

If the cryptocurrency was sent to the wrong email address, and it belongs to an active Coinbase account, there will be no refund. If the user is already a Coinbase customer, when he opens a gift of cryptocurrency on his email, the coins sent will be available in your account. If they are not a Coinbase customer, they will need to create an account on the exchange and verify their identity to receive the gift.