How to Buy A Bitcoin with Coinbase
Our Crypto Thursday videos have been immensely popular with our audience. However, we have yet to do a video on How to buy a Bitcoin with Coinbase. Well, you are in luck because today we are going to show you how to do just that. Coinbase is a super easy website to use… which is probably why it is the premier destination to buy Bitcoins on the internet. The first thing you need to do to buy Bitcoins is to create an account on Coinbase. You can do that by going HERE.
Once you get into your Coinbase account, you will see that there are 4 different coins listed there. The default coin will be Bitcoin. You can see the Bitcoin current price, percentage increase or decrease, and the chart. You can see the chart for several different time increments including 1 hour, 1 day, 1 week, 1 month, 1 year, and all time. This is very useful to be able to see the trend that Bitcoin is currently on.
If Bitcoin is on a spike then it may not be the best time to buy it. You want to wait until what is called a “dip”. This is when a coin has been on an increase and then takes a small decrease. Unless there is some type of bad news surrounding a coin, dips typically go back up pretty quickly. I’m not a financial advisor, but that is my personal opinion on the best way to buy crypto in general according to a chart.
Buying Bitcoin inside of Coinbase is very easy. All you have to do is go to the Buy/Sell tab. From there select Bitcoin and type in the amount you would like to buy. You can use your bank account or debit card.
Why Buy Bitcoin on Coinbase
I’m going to give you my own personal story to show you why I like cryptocurrency so much and why I think it is a good idea to learn how to buy Bitcoin on Coinbase. Several years ago, I began using a software online for one of my businesses. Some point during my use of the software, the creator chose to accept recurring payments in only Bitcoin. The cost to use the software was about $150 every 3 months. It was very confusing to learn how to use Bitcoin around 2012. However, I figured it out and was able to make my purchase. Instead of putting $150 in, I put $165 in my account. After making my payment, I let the extra 120 Bitcoins I had left over sit in my account and I forgot about them.
The next time I had to make my payment, I used a different platform. Several months later, I went back to my account with the $15 worth of Bitcoin left in it. The 120 Bitcoins I had there ballooned from being worth $15 to being worth $2,000. I had made almost two grand by doing nothing. I was terrified that the price would drop again so immediately pulled them out and sold them. At the time, I was extremely happy about my sudden comeuppance. However, fast forward to December of 2017 and those same 120 Bitcoins would have been worth $2.5 million dollars. I still kick myself to this very day, but there is nothing I can do other than learn from my mistakes. As you may be aware of, many people have become millionaires and billionaires from Bitcoin over the last few years. There is no reason to think that trend will not continue.