Coinbase – A Guide for Beginners

You’ve probably heard of bitcoin, but do you know what it is? Or how to get started with it? If you’re reading this, then it’s very likely that you’re looking to get started with cryptocurrencies. There are plenty of places on the internet that will try to sell you on the idea of buying X coin, but you’re not going to find an in-depth guide like this one. If you’re ready to take the first step towards getting your hands on some cryptocurrencies, then you’ve come to the right place. In this guide, you’ll learn everything you need to know about buying your first bitcoin and then some. Let’s get started.

What is Bitcoin?

Bitcoin is a cryptocurrency — a digital asset that can be transferred directly between two parties without the involvement of a central authority like a bank. It’s like email or money, but it’s decentralized. No one controls it. It’s run by software and managed by a community.

How to Buy Your First Bitcoin

There are a variety of ways to buy your first bitcoin, but the easiest method is probably Coinbase. Coinbase is a secure online platform that allows you to buy and sell bitcoins and also buy Ethereum and Litecoin. It’s probably the most common way to buy your first cryptocurrency.

What is Ethereum?

Ethereum is a blockchain-based platform that allows developers to build applications that are distributed using cryptocurrency. Ethereum was created by a 19-year-old blockchain developer named Vitalik Buterin in 2013.

Ether and Ethereum: the differences

Before we go into how to buy Ethereum, we need to go into what the difference is between Ether (ETH) and Ethereum (ETH). The most obvious difference is that Ethereum is an open-source platform (whereas Ether is the digital currency that runs on the Ethereum blockchain).

But there are a few other differences worth mentioning. For example, Ethereum is aimed at developers, whereas Ether is for use by the general public. And Ethereum has a market cap of $35 billion as of September 30, 2018, while Ether’s market cap is $8.2 billion.

How to Buy Ethereum

Buying Ethereum is very similar to buying any other cryptocurrency. The only difference is that you’ll need to use a different exchange.

First, you’ll need to find an Ethereum exchange that allows you to buy ETH with a credit card. There are many ETH/BTC and ETH/USD pairs, so it may take a little bit of research to find one that works for you.

Once you’ve found an exchange, you can buy Ethereum using the same method as you would for Bitcoin — by depositing fiat currency like USD into your account, and then trading for Ethereum.

Final Words: Should you buy Ethereum?

If you’re looking to get into the world of cryptocurrencies, Ethereum is a great place to start. Ethereum has a much larger market cap, a larger community, and a higher degree of liquidity than Bitcoin.

However, if you’re just looking to get your feet wet and experiment with cryptocurrencies, then buying a small amount of Ethereum is probably a better idea than buying a large amount of Bitcoin.

That’s because there are only a handful of places to buy Ethereum, and if you buy a large amount, it may be harder to sell it if you need to exchange it for funds.

Buying Ethereum is also a good way to get familiar with the cryptocurrency ecosystem and learn about blockchain technology. So even if you end up not using Ethereum as your main cryptocurrency, it’s a good idea to at least get familiar with it.

If you have any questions about Ethereum or buying your first bitcoin, feel free to leave them in the comments section below. And if you buy your first bitcoin, make sure to let me know how it goes!

Leave a Reply