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Best Bitcoin Trading Platform

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Bitcoin Trading Platforms

Bitcoin trading platforms are places where investors can buy, sell, and trade bitcoins in a digital marketplace with altcoins or fiat currencies. There are quite a few available and your choice will depend on your personal preference. As with anything, there is always one that stands out above the others and are usually ranked by popularity. Let’s take a look at the top-ranked Bitcoin trading platform as of January 2021.

Coinbase Pro

Formerly known as GDAX, Coinbase Pro provides an advanced cryptocurrency trading platform that is owned and operated by the cryptocurrency exchange Coinbase. It was launched in 2018 as a dedicated platform with multiple options for Bitcoin and other crypto traders. It also shares some of the same characteristics as Coinbase itself as far as ease of use, great liquidity, and solid security.

Creating A Coinbase Pro Account

In order to take advantage of what Coinbase Pro has to offer, it is a good idea to open a Coinbase account. This is easily done and is free but requires a few bits of information. Here are a few things that you will need to do in order to start your account.

  • You must be at least 18 years old. Proof of this will be asked.
  • A government-issued ID will need to be uploaded for proof of residency and age. Passports are not accepted.
  • In order to receive one-time passcodes, a smartphone with an active phone number is required.
  • Be sure you have the latest version of your browser. Chrome is recommended but required. If you are using the Coinbase app, make sure your phone has it’s latest updates.

Now, you are ready to register your Coinbase account. Navigate to https://www.coinbase.com from your browser or open the Coinbase app on your Android or iOS device.

  1. Choose “Get Started”
  2. Enter legal full name
  3. Active email address that you have access to.
  4. Create a password and record it in a safe place.
  5. Enter your State
  6. Read and agree to the User Agreement and Privacy Policy
  7. Select the box to Create account
  8. You will receive an email from Coinbase

Verify Your Email

An email from no-reply@coinbase.com will be sent to the email you have put on file. Click the Verify Email Address link. This will return you back to Coinbase.com. You will now sign back into Coinbase using the email and password that you recently chose.

Verify Your Phone Number

An email from no-reply@coinbase.com will be sent to the email you have put on file. Click the Verify Email Address link. This will return you back to Coinbase.com. You will now sign back into Coinbase using the email and password that you recently chose.

Verify Your Phone Number

After you have signed back into Coinbase, you will be prompted to verify your phone number.

  1. Select your country
  2. Enter your mobile phone number
  3. Click the “Send Code” selection.
  4. Enter the seven-digit code that Coinbase texted to your phone number on file.
  5. Click the “Submit” selection
  6. If you did not receive the code, choose the “Resend-SMS” option

Add Your Personal Information

Your personal information is required and a government-issued photo ID will be needed later in the process.

  • First Name
  • Last Name
  • Date Of Birth
  • Current Address

You will also be asked the following questions.

  • What do you use Coinbase for?
  • What is your source of funds?
  • What is your current occupation?
  • Who is your employer if not self-employed?
  • The last 4 digits of your SSN

You can now select “Continue” to finish this step of the process. You will receive further information via email. Do not go any further until the email is received.

Verifying Your Identity

  1. Sign in to your Coinbase account.
  2. Complete the ID verification. You will be required to upload the front and back of your government ID along with a selfie to verify your identity.

Link Your Prefered Payment Method

After you receive an email stating that your identity has been verified, log in to your Coinbase account to set up your method of payment. You will be offered 4 options.

  1. Bank Account- Linking a bank account is best for both large and small purchases. You can buy, sell, deposit, and withdraw. Withdraws usually take 4-5 business days for funds to show up in your bank account.
  2. Debit Card-Best for small purchases and withdraws are available and instant.
  3. Wire Transfer-These are geared towards large purchases with deposit and withdraw options. These usually take 1-3 business days.
  4. PayPal-One of the easiest ways to withdraw your funds and the transactions are instant.

After you choose your payment method, follow the instructions to finish the setup and fund your account.

Create A Coinbase Pro Account

The steps to create a Coinbase Pro account is easy. You won’t need to provide the information you have already given to Coinbase. However, since Coinbase Pro requires a higher identity verification to access some features, you may need to provide further information.

  1. Go to pro.coinbase.com
  2. Choose “Sign Up”
  3. You will then be taken to a Coinbase hosted site.
  4. Sign in using your Coinbase email address and password.
  5. If you have already verified your phone number with Coinbase, you will be sent an SMS with a 2-Step verification code.

Deposit Funds From Your Coinbase Account

Choose the deposit option to get started. You will now be given the option to fund your account from your Coinbase wallet, wire transfer, or your bank account. Coinbase Pro has a lot to offer so take some time to get used to the interface and all the trading options it has to offer.

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