How to Use Coinbase
We have shown you how to buy several different cryptocurrencies in our videos, tutorials, & posts. However, we have yet to show you a full tutorial video on how to use Coinbase. Without an understanding of how Coinbase works, it will be difficult to understand any of our other videos. For that reason, we wanted to make this blog post to show you how to use Coinbase.
Coinbase is a simple website to use. However, for many people just the idea of making the jump from researching Bitcoin to buying Bitcoin can be a massive leap of faith. If you read our last post, then you know why we are big believers in Bitcoin & cryptocurrency. Try Coinbase out for yourself! It is a great site and cryptocurrency is a fun hobby.
Coinbase has four cryptocurrencies currently listed on the site. They are Bitcoin, Ethereum, Litecoin, & Bitcoin Cash. These four cryptocurrencies make up four out of the top five cryptocurrencies in terms of market cap. Market cap is the total amount of money invested into one specific coin (or also the total market cap which is the total invested into cryptocurrency as a whole). To give you an idea of where the market cap for cryptocurrency currently stands, the market is about half as big as the company Apple. Apple is worth about $900B. Cryptocurrency is currently around $460B. However, that number changes quite a bit on a daily basis.
What Can You Buy Next on Coinbase
To see exactly how to use Coinbase, please watch our step by step tutorial video. It will give you the ins and outs of the cryptocurrency purchasing platform. While we understand what we can currently buy on Coinbase, it is rather fun to speculate about what other coins can possibly be coming to Coinbase soon. Coinbase has shown a propensity to place coins on their site that are on the top tier of crypto market caps. I mentioned four out of the top five coins are currently on Coinbase. So why is Ripple (XRP) not listed since it is number three in market cap?
That’s a good question and has led to quite a bit of speculation. At the beginning of January in 2018, the crypto world was ablaze. This was partly due to the fact that almost everyone in the crypto world believe Ripple was going to debut on Coinbase by the end of January. However, Coinbase announced it would not list Ripple. This was a huge blow to Ripple and led to a huge downturn for the currency.
Many people believe that Ripple, a centralized coin, does not qualify as a coin that Coinbase would list (due to its centralization in nature – all other coins on Coinbase are decentralized). This leads many to believe that Ripple’s decentralized cousin, Stellar Lumens (XLM), could be next on Coinbase. Some other frontrunners for the honor could be NEO, ADA, DASH, & XMR. We hope this information has been helpful!
Thanks for reading!
