In the United Kingdom, Coinbase is considered one of the safest and most straightforward ways to buy Bitcoin. Quick payments are used to make GBP deposits. Coinbase was one of the first platforms to receive an FCA-approved e-money license, showing its security and dependability. They only charge a transaction fee of 0.5 percent, the lowest in the business, and it's really simple to use.
This article describes how to get started with Coinbase, one of the most user-friendly platforms for purchasing Bitcoin, Litecoin, Ethereum, and Bitcoin Cash (Bcash). Users can purchase these cryptocurrencies with their credit card or bank account after opening an account on the Coinbase website, just like they would with an Amazon online transaction. I’ll show you how you can sign up for coinbase in the UK.
How do I sign up for Coinbase UK?
1. Go to Coinbase.com with your preferred web browser and click the Sign-Up button in the top-right corner.
2. A form with entries for your first and last name, email address, and password will display. Use your true name as it appears on your passport or driver's license, as using an alias may cause your identity to be confirmed later. Also, double-check that your email is properly written.
3. Select a password. Use a combination of upper and lowercase letters, as well as at least one number.
5. Select the Create Account option.
6. A confirmation email will now be sent to the email address you specified. In your inbox, open the email. There would be a confirmation link within it. By clicking on it, a new browser window will appear, allowing you to activate your Coinbase account.
7. You will now be taken through a series of procedures to authenticate your identity. You may skip this for now and do it later, but it is worthwhile to set it up since the more information you provide them, the more bitcoin you will be able to buy every week and the safer your account will become.
Confirming Your Identity on Coinbase
Address: After confirming your phone number in the initial account creation or the Settings > My Profile area of the Dashboard after signing in, you will be prompted to provide your residence address. It's critical to be truthful here, just as it is with other account information. The Country section is especially essential since it determines which financial services you may utilize on Coinbase as well as how much you can purchase or sell.
Document Verification: Following the address part of the first account creation, you will be requested to authenticate your identity by submitting copies of government-issued ID such as a passport, proof of age card, or driver's license. The documentation required will differ depending on the nation in which you reside. If you omitted this choice at first, you will be reminded to do so on your Coinbase Dashboard after logging in. You may also upload your papers by going to Settings > Limits.
1. In the account setup, you will see a blue button labeled "Start verification." To begin the process, press it.
2. You will be offered a choice of two to three document kinds after starting the document verification procedure. Select the one you want to use, such as your passport or driver's license.
3. The camera function on the next screen will enable your device's webcam. Hold your ID up to the webcam and hit the Take picture button to capture a photo of it.
4. A preview of the photograph will be on the website shortly. If the photo is clear and displays your face as well as all of the required information, click the Finish & Begin Verification button. Simply hit the Take another snapshot option to try again if you wish to remake your photo.
5. It may take several days to a week for Coinbase to validate your provided paperwork.
Contact Information: It is extremely simple to confirm your phone number. You will be prompted to pick the country in which your number is registered, as well as the number itself. After you provide this information, Coinbase will display a second page and send an SMS with a code to your phone. In the new page's verification field, enter this code and click the blue Verify Phone Number button.
Increasing the Coinbase Transaction Limit
Coinbase often restricts new accounts to a $300 purchase limit. This is done to keep money laundering and other illicit activities at bay. Limits can be raised by performing the following actions.
1. Completing Your Profile: The easiest way to increase your buy limit is to fill out all of your Coinbase account details. This entails adding (and verifying) a phone number and providing at least one piece of identification.
2. Make Regular Purchases: Buy limitations for Coinbase accounts that are often used are generally increased. For a month or two, try to make one modest purchase every week.
3. Wait: In Coinbase's opinion, the older an account is, the more authentic it seems. Newer accounts are generally limited, but older accounts ultimately have their limitations lifted.
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Aug 23, 2021