In this article we outline the basics for buying Ethereum with USD from Coinbase. There are many ways to buy Bitcoin and Ethereum, including but not exclusively:

  1. Coinbase (Europe & USA)
  2. Spectrocoin (Europe)
  3. Coinmama (Worldwide)
  4. Kraken (Canada, USA, Japan and Europe)
  5. Indacoin (advertised 200+ countries – though does not include USA)
  6. BitPanda (Austrian based)
  7. Coingate (Accepts Credit cards, Paypal and “altcoins” – cryptocurrencies other than bitcoin or Ethereum
  8. Local Bitcoin ATM machine
  9. A local bitcoin money transmitter business

*Countries do not differentiate between geographical regulation or simply currencies accepted.

We used Coinbase for its popularity and reputation in the United States where we are headquartered. While international readers may not have access to this particular vendor, the basics of buying, sending and receiving cryptocurrencies from the various platforms are relatively similar. We will release tutorials for a few of these gateways in the future.

  1. Go to www.coinbase.com.
  2. Sign-Up and set-up an account with Coinbase.
  3. Connect your bank account, debit card, or credit card.
    • Debit/Credit card purchases are available instantly.
    • Bank transfer take up to 5 days but is slightly cheaper.
  4. You may be asked to complete some verification procedures before proceeding with your State ID.
    • Currently done through AI ID verification. This may take multiple tries and some time.
  5. Once verified, click on the “Buy/Sell” tab.
  6. Click on the “Ethereum” tab.
    1. Below, it shows the current trading price for 1 Ethereum (ETH).
  7. Choose your payment method.
  8. Enter the amount in USD that you would like to exchange for ETH.
    • Confirm details displayed on the right side of the screen: 
      • How much ETH you are buying
      • What price you are buying the ETH for
      • Your Payment Method you chose
      • When the transaction will be available in your account 
      • Where the purchase will be stored (bitcoin or ethereum wallet)
      • The Fee associated for the transaction
      • Your Subtotal, which is the actual amount of ETH in USD you are getting, minus the associated fee
      • Total amount to be charged

Once you have your bitcoin or Ethereum, return to our knowledge page for how to exchange them for other assets, send them to a friend, or secure them in your wallet.

This article is intended for educational purposes and is not to be taken as investment advice.

 

Image via Adobe Stock

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