Here is how to buy Bitcoin from your iPhone or Android device the easy way in 2021. If you’re a Crypto enthusiast or a novice wanting to dip your toes in the world of digital currencies, the following step-by-step guide will assist you in purchasing digital currencies straight from a smartphone or tablet using the Coinbase app.
As you might know, cryptocurrencies are all the rage these days. Although considered a wildly fluctuating asset owing to its speculative nature, analyses suggest it provides context-dependent intrinsic value making it a future-proof viable alternative to gold and cash as a store of value against devaluation due to inflation.
With mounting fears of multiple stimulus packages since the start of the Covid-19 pandemic eroding the worth of the paper currency, investors on both institutional and retail sides look for a reliable substitute asset class to park their investments as a hedge against a drop in asset valuation in case hyperinflation manifests. This is where digital currencies such as Bitcoin, Ethereum, Binance, and others fastened to the blockchain-based Decentralized Finance concept enter the fray.
However, taking advantage of rapid price changes in digital currencies to pocket maximum profit requires a reliable platform that allows for easy and fast execution of trades so that an average person not well-versed in the subject can buy the dip and sell when values hit all-time highs. Furthermore, secure completion of transactions is another important factor to consider when choosing a crypto exchange.
Coinbase is one such platform that functions similarly to traditional stock exchanges in that it enables buying and selling of cryptocurrencies. It is the world’s most recognized, leading mainstream cryptocurrency exchange in the United States with operations extending in several other countries. Recent Coinbase IPO took the financial world by storm.
With backing from the established financial institutions on the rise, it is a matter of time before the Crypto sphere achieves mainstream acceptance. This is why you see so many people asking about cryptocurrency and expressing a desire to trade to benefit from the early adopter advantage before prices jump even higher.
If you’re one of them, we have explained the process in a tutorial below that will walk you through the steps required to buy and sell Bitcoin and other digital assets in a straightforward way.
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How To Buy And Sell Bitcoin On iPhone And Android :
On iOS or Android devices, the Coinbase app offers a Crypto Wallet with all the services you need to participate in Bitcoin trading. Here is how it works.
Step 1 – On your mobile browser, go to this link here and sign up for an account with the Coinbase exchange, if you haven’t already done so. Complete all the initial setup steps to verify your identity. Although Bitcoin trading is supposed to give anonymity, this is a tradeoff you have to accept so that the exchange can resolve potential disputes that may arise. Depending on your country of origin, documentation requirements for the verification process will differ.
Step 3 – Now, launch the application and connect your bank account to Coinbase. This process will also differ depending on your place of residence. If you prefer using a debit or credit card, the option is available but with limits on the transaction amounts.
Step 4 – To buy your first Bitcoin, tap on the Buy button next to the current price on the Coinbase home screen. It will then prompt you to enter the number of bitcoins you want to deposit into your crypto wallet with the corresponding price. Simply select the desired wallet and you’re done.
Step 5 – To sell your Bitcoin, just hit the Sell button from the Coinbase home screen. Make sure that your bank account is connected in order to withdraw your cash. Enter the amount you want to turn into cash to complete the transaction.
Step 6 – That’s it.
Bear in mind that Bitcoin prices constantly fluctuate so timing the market is essential to draw maximum profit.