The Origins of Coinbase
Coinbase was founded in June 2012 and are based in San Francisco, California, USA, and are funded by venture capitalists. They offer a digital currency wallet and platform for consumers to transact Bitcoin, as well as other digital currencies. Coinbase claims to be the world’s most popular way to buy and sell bitcoin. They serve 32 countries.
Buying Bitcoin through Coinbase
- The first step is to sign up for a Coinbase account. This provides a secure place to store bitcoin and link payment methods. The payment methods differ depending on the country of origin of the customer but are primarily debit card, credit card, bank transfer, and even PayPal in the USA.
- There are some verification steps before the account can be used.
- Once the verification is complete, the customer can view bitcoin prices and buy and sell bitcoin.
Features and Benefits
Coinbase offers a number of features and benefits:
- A mobile wallet on Android and iPhone to access Bitcoin on the move. This is in addition to desktop access.
- Secure offline storage for the majority of digital assets.
- Digital currency stored on their servers is covered by their insurance policy.
- Full control of private keys can be maintained with their multi-signature vault.
- Instant exchange of bitcoin into and out of the customer’s local currency.
- Schedule recurring purchases of bitcoin weekly or monthly.
- An API is provided for merchants and developers to build applications and accept payments in bitcoin.