Crypto-crown.ltd Review 5 Reasons Why This Doubler is Risky

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Contents

Crypto-crown.ltd Review: 5 Reasons Why This Doubler is Risky [Exposed]

Crypto Crown Reviews: A legit bitcoin investment or another scam? Read our reviews to see what experts have to say about Crypto Crown Bitcoin Doubler. This website promises to double your capital. Is Crypto-crown.ltd a legit investment? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams.

In this review, we provide you information based on our investigations and user experiences to help guide you make the proper decision.

HAVE YOU BEEN SCAMMED? If you have lost your money to online scammers, there is an opportunity you could get back your money.

Click HERE to start the recovery process

What Is Crypto Crown- Is It Paying?

Crypto-crown.ltd is the new investment platform that has been swooning heads with its enticing investment offer. They are offering claim they can double your bitcoins in just 24 hours. However, apart from the words on their websites there are no proofs or graphs to this claim. There is nothing to make us believe they will keep their end of the bargain. Their website is pretty convincing, and has seen many people registering to the platform.

Should you invest with Crypto Crown Ltd? Is this investment genuine or fraud? We hope to answer these questions. Meanwhile, always have it in mind that some platforms might try to convince you to invest in this platform. However, the truth is that they might not be concerned about your end, rather they are keen on their commission as an Affiliate partner.

So, take your time to go through this review. We bet you’ll find concrete reasons that will help you make a decision about this platform.

Crypto-crown.ltd Scam Review: Disturbing Things Found

Though this site might appear legit to an untrained eye, the truth is that it is just a wishy washy Ponzi just like Flamebit, it is designed in such a way to convince unsuspecting investors.

They are trying every means to make this platform look legit but this is simply a marketing strategy meant to make you lower your guard. When we went through their entire website, we couldn’t find any raw data about the strategy they follow or the performance reports of their so called expert traders. None of their achievements are documented and worse of all, they do not have any specific mandate to follow.

Crypto Crown is like every other HYIP. It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested.

There are a lot of investors attesting to this fact that after the first few days, this platform stops paying, and leaves their transaction at ‘Pending’

Just like we said before, Those that benefit most times are the first investors. However, the system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially. Why spend your time on HYIPs when there are other legitimate and sustainable ways of making money?

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Reasons Why CryptoCrown Is Not an Ideal Investment Platform For You

Many HYIP monitors wouldn’t tell you how this system works, even trusted hyip monitoring sites wouldn’t be quick in telling you that some of these HYIPs have a very very short span life. Below are reasons why we think it is not the best investment for you-

  1. Crypto-crown.ltd is unpredictable. The returns are unrealistic. Common, how would they be able to keep shooting out that amount?
  2. We couldn’t come up with those behind this platform, notwithstanding the extent of our thorough investigation.
  3. Crypto-crown works with some HYIP monitors. Their affiliate program is lucrative, so even top 10 trusted hyip monitors would promote. Hey! don’t let your guard down.
  4. There are no Financial Authority acting as a watch dog over their actions, so they are not bounded to any regulation, and could do as they please with your hard earned money.

You might probably think you should give it a try, but the truth about investment platforms like this is that, they have smooth talkers that would make you invest more than you bargained.

You might end up registering for more than one plan. Because, common it is the nature of humans to want the best. By the end of the day, you are left dry and empty, another sob victim.

Is Crypto-crown.ltd a Scam or Legitimate Investment?

Though they provide a registration certificate and so-called evidence of payments, don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries like the USA are not in actual sense located there.

Sometimes these platforms might pose as an investment platform, doubler platform or even a mining platform. Often times they might run an ads through the google ads academy or even get a youtube ads making them look legit. But the truth is that they do not have the equipment that make them what they claim to be. Rather what they do is circle the funds of investors, and when they have made a lot of unsuspecting investors trust them, they stop paying.

The truth is that even the longest paying hyip would one day flop. The system is not sustainable. Why waste your time and money when there are legit and paying bitcoin investment sites? You could even start forex trading with the help of trusted brokers.

Crypto-crown.ltd is not a trusted Investment Platform

How To Know Investments Scam Formats

It is true that most of this high yield investment platforms look like the real deal, thus confusing us.However, there are various ways to find out if an investment platform is a lackluster HYIP or if it a trusted investment platform. Below are ways you could find out-

  • ROI- The returns offered. Are they sustainable? Can the funds be shuffled round and get to every investor? are the offers realizable?
  • History- Does the platform have a history? Can the company behind it be found online?
  • Transaparent– How transparent is the information on the website?
  • Contact– Can you reach them? Is the address made available on the platform?

Conclusion-

Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. .On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.

Our Recommendation

They are lots of online investment opportunities which could fetch you money and give you a good Return On Investment. We constantly search them out to guide our readers so they don’t fall for scams. Always feel free to interact with us in the comment section.

How to Invest in Bitcoin

Thinking of investing in Bitcoin?

This post will outline some things you NEED to know before you buy.

We’re going to explain:

  • The basics of investing in bitcoin
  • Why it needs to be taken seriously
  • How to buy bitcoins (with credit card or bank account)
  • How to protect and properly secure your bitcoins if you do decide to invest

Quick Info – Top Exchanges

How to Purchase Bitcoins

Coinbase

Coinbase is the world’s largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase bitcoins. Coinbase supports customers in over 30 countries, including the United States, Europe (besides Germany), UK, Singapore, Canada, and Australia.

Customers in the above-mentioned countries can purchase bitcoins by debit card, bank transfer, SEPA transfer, and more.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.

  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • “Instant Buy” option available with debit card
  • Purchases made with bank transfer can take up to 5 days to complete
  • Coinbase may track how and where you spend your bitcoins

Coinmama

Coinmama allows customers in almost every country to buy bitcoin with a credit or debit card. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.

Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.

Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
  • Some of the highest fees among credit/debit card bitcoin brokers

Bitpanda

Bitpanda is a Bitcoin broker based in Europe.

They have high payment limits and low fees across their wide range of payment methods.

Bitpanda offers customers the option to buy bitcoins with credit card, debit card, SOFORT, Skrill, NETELLER, giropay, eps, SEPA, and Online Bank Transfer.

We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.

  • Some of the lowest fees for buying bitcoins with credit/debit card
  • Reliable and trusted broker
  • Fees aren’t shown openly on the site but instead included in the buying price

CEX.io Buy Bitcoin Read Review

CEX.io lets you buy bitcoin with a credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Purchases made with a credit card give you access to your bitcoin immediately. CEX.io works in the United States, Europe, and certain countries in South America.

We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.

  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity

Why Bitcoin is Gaining Traction

The world is becoming ever more reliant on the internet.

It is no surprise that Bitcoin, a secure, global, and digital currency has claimed the interest of investors.

Bitcoin is open to everyone and provides an exciting opportunity to delve into an entirely new asset class.

Investing in bitcoin may seem scary, but know that it takes time and effort to understand how Bitcoin works.

Note: Bitcoin with a capital “B” references Bitcoin the network or Bitcoin the payment system; bitcoin with a lowercase “b” references bitcoin as a currency or bitcoin the currency unit.

Why Invest in Bitcoin?

It seems silly to some people that one bitcoin can be worth hundreds of dollars.

What makes bitcoins valuable?

Bitcoins are scarce and useful.

Let’s look to gold as an example currency. There is a limited amount of gold on earth.

As new gold is mined, there is always less and less gold left and it becomes harder and more expensive to find and mine.

The same is true with Bitcoin.

There are only 21 million Bitcoin, and as time goes on, they become harder and harder to mine. Take a look at Bitcoin’s inflation rate and supply rate:

In addition to being scarce, bitcoins are useful.

Bitcoin’s sound monetary policy is one of its most important features. It’s possible to see when new bitcoins are created or how many bitcoins are in circulation.

Bitcoins can be sent from anywhere in the world to anywhere else in the world. No bank can block payments or close your account. Bitcoin is censorship resistant money.

Bitcoin makes cross border payments possible, and also provides an easy way for people to escape failed government monetary policy.

The internet made information global and easy to access. A sound, global currency like Bitcoin will have the same impact on finance and the global economy.

If you understand the potential impact of Bitcoin, it won’t be hard to hard to understand why investing in bitcoin may be a good idea.

Bitcoin’s Price

There is no official Bitcoin price. Bitcoin’s price is set by whatever people are willing to pay. Buy Bitcoin Worldwide’s is a good resource for the current and historical price.

Bitcoin’s price is generally shown as the cost of one bitcoin. However, exchanges will let you buy any amount, and you can buy less than one bitcoin. Below is a chart showing Bitcoin’s entire price history:

When is the right time to buy?

As with any market, nothing is for sure.

Throughout its history, Bitcoin has generally increased in value at a very fast pace, followed by a slow, steady downfall until it stabilizes.

Use tools like Bitcoin Wisdom or Cryptowatch to analyze charts and understand Bitcoin’s price history.

Bitcoin is global and not affected by any single country’s financial situation or stability.

For example, speculation about the Chinese Yuan devaluating has, in the past, caused more demand from China, which also pulled up the exchange rate on U.S. and Europe based exchanges.

Global chaos is generally seen as beneficial to Bitcoin’s price since Bitcoin is apolitical and sits outside the control or influence of any particulate government.

When thinking about how economics and politics will affect Bitcoin’s price, it’s important to think on a global scale and not just about what’s happening in a single country.

Quick Info – Top Exchanges

How to Invest in Bitcoins and Where to Buy

The difficulty of buying bitcoins depends on your country. Developed countries have more options and more liquidity.

Coinbase is the world’s largest bitcoin broker and available in the United States, UK, Canada, Singapore, and most of Europe.

You can use our exchange finder to find a place to buy bitcoins in your country.

How to Secure Bitcoins

As with anything valuable, hackers, thieves, and scammers will all be after your bitcoins, so securing your bitcoins is necessary.

If you’re serious about investing in bitcoin and see yourself buying a significant amount, we recommend using Bitcoin wallets that were built with security in mind.

  • Ledger Nano X – Ledger is a Bitcoin security company that offers a wide range of secure Bitcoin storage devices. We currently see the Ledger Nano X as Ledger’s most secure wallet. Read more about the Ledger Nano X.
  • TREZOR – TREZOR is a hardware wallet that was built to secure bitcoins. It generates your Bitcoin private keys offline. Read more about TREZOR.

Bitcoins should only be kept in wallets that you control.

If you leave $5,000 worth of gold coins with a friend, your friend could easily run off with your coins and you might not see them again.

Because Bitcoin is on the internet, they are even easier to steal and much harder to return and trace. Bitcoin itself is secure, but bitcoins are only as secure as the wallet storing them.

Investing in bitcoin is no joke, and securing your investment should be your top priority.

Should you Invest in Bitcoin Mining?

The Bitcoin mining industry has grown at a rapid pace.

Mining, which could once be done on the average home computer is now only done profitably in specialized data centers.

These datacenters are warehouses, filled with computers built for the sole purpose of mining Bitcoin. Today, it costs millions of dollars to even start a profitable mining operation.

Bitcoin miners are no longer a profitable investment for new Bitcoin users.

If you want a small miner to play around with mining, go for it. But don’t treat your home mining operation as an investment or expect to get a return.

Final Thoughts

It’s important to understand how Bitcoin works before investing any money.

Bitcoin is still new and it can take months to understand the true impact Bitcoin can have on the world.

Take some time to understand Bitcoin, how it works, how to secure bitcoins, and about how Bitcoin differs from fiat money.

The above information should not be taken as investment advice. It is for general knowledge purposes only. You should do your own research before buying any bitcoins.

Coinbase Review

We may receive compensation when you use Coinbase. This post contains affiliate links. Disclosure.

  • High liquidity and buying limits
  • Easy way for new users to buy bitcoin
  • Limited payment methods
  • May track how its users spend bitcoin

Is Coinbase Safe?

Coinbase is the world’s largest Bitcoin exchange, so this is a common question.

Yes, Coinbase is a Bitcoin company based in San Francisco, and backed by trusted investors.

Coinbase is the world’s largest Bitcoin broker, and also offers an exchange, wallet, and developer API.

On this page, we’ll review Coinbase and its brokerage, exchange, and wallet.

Heads Up!

Cash held in Coinbase wallets are FDIC insured up to $250,000. You should still move your coins off of Coinbase after buying.

Coinbase Compared

This table compares Coinbase to other popular exchanges.

Please note that fees are approximate and may vary based on your country or purchase size.

Chapter 1

The Basics About Coinbase

How Does Coinbase Work?

Coinbase’s simple interface aims to make it easy for first-time buyers to purchase bitcoins.

The most popular payment methods for Coinbase customers are buying with a credit card or debit card, and also using a bank transfer.

There’s a full guide at the bottom of this post that shows you how to buy on Coinbase using a credit card.

Coinbase Fees and Payment Methods

Coinbase’s fees are quite high. Credit and debit card purchases are charged a 3.99% fee and bank transfers are charged a 1.49% fee.

Heads Up!

Coinbase supports 100+ countries. The payment methods available depend on your country, but fees are fairly similar.

Payment Method Countries Funds Available Currency Fees*
Bank Transfer USA 5-7 days** USD 1.49%
Debit/Credit Card USA instant EUR 3.99%
Debit/Credit Card Canada instant CAD 3.99%
SEPA Transfer Europe 1-3 days EUR 1.49%
Debit/Credit Card Europe instant EUR 3.99%
Debit/Credit Card UK instant GBP 3.99%
SEPA Transfers UK instant GBP 1.49%
Debit/Credit Card Singapore instant SGD 3.99%
Xfers Transfer Singapore instant SGD 1.49%
Debit/Credit Card Australia instant AUD 3.99%

Coinbase users in nearly any country can convert between cryptocurrencies, but cannot always convert local currency into crypto.

*Actual deposit of currencies into your Coinbase account is free. Coinbase then charges a 1.49% fee per purchase.

**U.S. customers may add a Visa or Mastercard credit card as a backup payment method. If a backup credit card is available, Coinbase “instant buy” will be enabled for up to $1,000 worth of bitcoin per week.

QUICK TIP

For lower fees, you may want to use Coinbase Pro. It is more complex but is worth learning if you will be making a lot of trades and buys.

The “buy bitcoin” section of Coinbase. Very easy to use for first-time buyers.

Does Coinbase Support Your Country?

Coinbase offers its brokerage services in the United States, United Kingdom, Canada, Singapore.

Coinbase also supports the following European countries:

Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gilbraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, and United Kingdom.

In North America, Coinbase supports Canada, the USA and Mexico.

In South America, Coinbase only supports customers in Chile via debit card payment.

Please note that fees are approximate and may vary based on your country or purchase size.

Limits & Liquidity

Coinbase offers very high limits. Limits depend on your account level, which is determined by how much information you have verified. Fully verified U.S. customers may buy up to $50,000 worth of bitcoin daily.

European customers may have a maximum of €30,000 euro in their account at any time.

Coinbase Deposit Time

Your method of funding your account with Coinbase will affect how long deposits take. For instance, if you use a credit or debit card to purchase your Bitcoin, the transaction is instant. But if you choose to use a bank wire or an ACH transfer, your deposit could take 3 to 5 days.

This is important because the price of Bitcoin could go up or down during the time it takes to deposit funds.

If you had planned to buy a specific amount of Bitcoin and the price changes, you may be able to buy more if the price dropped. But if the price goes up, you will have to buy less or deposit more funds.

It is up to you if the additional fees of paying with a card are worth the instant transactions.

Coinbase Compared

This table compares Coinbase to other popular exchanges:

Coinbase Withdrawal Fees

Coinbase itself does not charge any money for you to withdraw your funds. Though they will charge you fees they have to pay to send you your money. For instance, if their bank charges them a wire fee, they will charge the equivalent fee to you.

If they are sending you Bitcoin, the Bitcoin blockchain will charge Coinbase a network fee which they will then charge you as well.

How Fast Does Coinbase Send You Bitcoins?

The time it takes for the bitcoins to arrive in your wallet and be spendable depends on your country and payment method used.

United States

Debit Card: If a credit or debit card is used, delivery of bitcoins is instant once ID verification as been completed.

Bank Transfer: U.S. customers will receive their bitcoins five business days from placing an order when using bank transfer. “Instant Buy” becomes possible if a credit card is added to the account as a backup payment method.

Instant buy will allow fully verified users to buy up to $1,000 worth of bitcoin per week. Level 2 users with instant buy are able to instantly buy up to $100 worth of bitcoin per week.

Canada

Canadian EFT purchases take four days to complete.

Interac Online purchases are instant!

Europe

European users paying with SEPA transfer will receive bitcoin within 1-3 days.

Crypto to Crypto Trading

Customers from over 100 countries can trade crypto to crypto. Coinbase recently launched this feature.

Customer Support

Coinbase “Community” can be used to ask questions and get support help.

Chapter 2

Privacy

Is Your Privacy Kept While Using Coinbase?

When you sign up for an account on Coinbase, your name, phone number, email, and a number of other personal details are required.

You will be required to take a picture of your driver’s license or passport if you are purchasing with a credit card. This is all normal procedure for a regulated exchange like Coinbase where they must comply with KYC and AML laws.

Coinbase knows your addresses and balance at all times and can connect this with your identity and IP address. You must trust Coinbase’s nodes to verify transaction data.

Each payment request uses a new address, which helps prevent other users from connecting Bitcoin addresses together.

Coinbase received a score of 11 out of 100 from the Open Bitcoin Privacy Project’s Spring 2020 report.

As far back as 2020, There have been reports that Coinbase tracks how its users spend bitcoin.

This suspicion was confirmed as recently as 2020 when it was revealed that Coinbase had acquired Neutrino. Neutrino is a tech company focusing on analyzing blockchains in order to discover the identities behind addresses on those chains. Coinbase acquired this company so that they could reduce the privacy of Bitcoin users everywhere.

It is also worth noting that many of Neutrino’s employees also worked for and/or founded a spyware company called hacking team. Hacking Team sold its products to authoritarian governments in the Middle East to spy on their people and journalists.

If buying coins privately is your goal, Coinbase is not the best option. If you need coins quickly and easily, then Coinbase is a good choice.

Coinbase Compared

This table compares Coinbase to other popular exchanges:

Chapter 3

Coinbase Bitcoin Wallet

Coinbase Bitcoin Wallet Review

Your Coinbase “wallet” can be accessed on the web, or with the Coinbase apps for iOS and Coinbase App for Android.

Coinbase controls all private keys, and acts more like a bank than a true Bitcoin wallet.

Coinbase should only be used to buy or sell bitcoin, and not to store funds.

You can read our guide on Bitcoin wallets to find a wallet that truly gives you full control over your bitcoins.

Coinbase Bitcoin Wallet Security – Two Levels

Users may create two types of wallets with Coinbase: a Coinbase wallet and a coinbase vault.

Coinbase Bitcoin Wallet

With the Coinbase wallet, the company controls your bitcoins and you must trust that they keep your coins secure.

You must also keep your Coinbase login and account password safe.

Coinbase is a VC backed company with over $100 million in funding and likely has a very strong security setup. The point of Bitcoin, however, is that users have the ability to control their own money. So, move your bitcoins into a wallet you control after you buy.

Also note that Coinbase can shut down your account and block access to your funds at any time.

Coinbase Vault

Coinbase offers a unique solution for securing larger amounts of bitcoin.

Bitcoin stored in a Vault account can be protected by multiple approvers. If a user adds two approvers to his vault, both must confirm that the withdrawal is valid before it processes.

All withdrawals from Vaults take 48-hours to process. The time delay provides a safety net:

If you see a withdrawal was requested that you did not make, the withdrawal may be cancelled.

Like the regular Coinbase wallet, you must trust Coinbase to secure vault funds. Vault accounts can also be shutdown by Coinbase at anytime.

Coinbase USD Wallets

A Coinbase USD wallet will let you store dollars in your Coinbase account. There are a few advantages to using a Coinbase USD wallet:

  • You can store dollars in your account so that when you do want to purchase bitcoins you don’t have to wait five days for a bank transfer to process.
  • You can spend bitcoins online without exposing yourself to Bitcoin’s volatility.

Chapter 4

Coinbase Debit Card

Coinbase Debit Card

Coinbase released a debit card for UK customers only that connects to your Coinbase account. It uses your Coinbase balance as the debit card’s source of funds, allowing you to spend bitcoins at any merchant accepting Visa.

Chapter 5

How to Use Coinbase

How to Use Coinbase

Buying cryptocurrency can be a confusing process, with the multitudes of exchanges payment methods available. One of the best exchanges for beginners is Coinbase, a San Francisco based cryptocurrency exchange.

Coinbase offers fiat onramps, or the ability to purchase coins with traditional fiat currencies. Bitcoin, Ethereum, Litecoin, and Bitcoin Cash can all be purchased with fiat on Coinbase.

While Coinbase is beginner focused, the process of setting up an account, adding funds, and purchasing currencies can still be less than straightforward. This guide will teach you every you need to know about Coinbase.

Creating an Account

To set up an account, first visit the Coinbase website and click “Sign Up”.

You will then be directed to begin setting up your account. Fill in your name, email, password, and location. Complete the captcha, then certify that you are over 18 and agree to the Coinbase user agreement and privacy policy.

After continuing, access your email and follow the verification link.

Select your country and add your phone number.

A 7-digit code will be sent to your phone, and you will be directed to enter this code.

After entering the code, you may or may not be directed to verify your ID. If you are not, then your account set up is finished for now. If you are directed to verify your ID, that is the next step covered.

Even if you’re not prompted to verify your ID now, you will want to do so anyway, because sooner or later you must verify your ID to purchase or continue purchasing cryptocurrency.

ID Verification

Because Coinbase is based in the US, they must abide by KYC/AML laws. Know Your Customer (KYC) and Anti Money Laundering (AML) laws require businesses to verify the identity of their customers. These laws are in place to prevent money laundering or other criminal activities from occurring.

Unfortunately for customers, this means they must divulge a large amount of personal information, including the last 4 digits of their SSN and photos of their ID. To understand how this information is used, read Coinbase’s privacy policy.

If you were not prompted to verify your ID directly after entering the SMS code, you do so by clicking the “Buy/Sell” tab. Then select the “Submit ID + Photo Verification” button.

You will then be directed to fill in your personal information.

After filling out this information, you’ll be require to submit a photo ID.

You can upload a driver’s license or other photo ID, and can upload with a webcam, a mobile camera, or a file upload. You will be required to upload a clear photo of the front and back of the idea. The photo verification may take a few minutes.

If the photo fails to verify, make sure the photo is clear and no parts of the ID are obscured. If you still cannot verify your ID, then contact Coinbase support.

Once your photo ID is verified, the ID verification process should be complete.

Verification Levels

If you verify your phone number, you’ll be able to invest up to $9,500.

If you verify your personal information, you’ll be able to invest an unlimited amount, wire funds in and out of your account, and store funds in your account.

If you verify your ID, you’ll be able to send and receive digital currencies

Chapter 6

Coinbase Security

Additional Security

After you verify your ID, you’ll want to increase the security of your account by enabling 2-Factor Authentication (2FA).

To do this, first select the settings tab.

Within the settings page, select the security tab.

Scroll down to the “Two-Factor Authentication” section, and make sure the verification code is set for any amount of digital currency. Then select the “Enable Authenticator” button.

Enter the 7-digit code sent to your phone.

Coinbase SMS Verification

After you enter the SMS code, Coinbase will generate an authenticator code for you. This will allow you to use 2-Factor Authentication.

2FA is a security measure that generates unique codes based on your authenticator secret code. To use it, download a 2FA app such as Google Authenticator onto your phone.

After downloading, add the Coinbase authenticator code to the app. You can do this by scanning the QR code or by manually entering the authenticator code. The app will now generate 2FA codes for Coinbase that change every few seconds.

Because the codes change so often, someone attempting to breach your account would need to have access to your phone in order to access your funds. Even if they steal your username and password, they wouldn’t have the 2FA code unless they had access to your phone as well.

Be sure to write down your authenticator secret code and store it somewhere safe. If you get a new phone, or it is lost or stolen, you will need this code to receive 2FA codes.

With 2FA set up, your account will be much more secure.

Chapter 7

Adding Payment Methods

Adding Payment Methods

Before buying your cryptocurrency, you will need to add a payment method.

Coinbase offers 3 payment methods: Debit card, bank account, or wire transfer.

In this guide we will cover purchasing with a debit card or with a bank account.

To add a payment method, first select the “Settings” tab in the top middle of the page.

Within the Settings page, select the “Linked Accounts” tab.

Click the “Link a New Account” button.

You will then be able to select which payment method to add.

Debit Card

Debit cards are best for purchasing smaller amounts quickly. Any debit card purchase will instantly transfer the cryptocurrency to your account, which is best if you want to quickly trade it for another cryptocurrency.

However, debit cards have much lower purchase limits than other payment types. Their limits may start as low as $300 per week.

Additionally, debit card purchases have high fees, at 4%. And while Coinbase is headquartered in America, their payment processor runs through the UK, so your card may be hit with an additional foreign purchase fee, depending on your card and where you live.

To link a debit card, select that option then fill out your debit card information. Unfortunately, if you only have a credit card, you cannot use it at this time.

After filling out your card information, Coinbase will send 2 pending charges to your account. To verify your card, enter the the last 2 digits of the charge. You will not be charged for these transactions. If you see 3 charges, ignore the charge that is $1.00.

Bank Account

Bank Accounts are better for larger purchases, but they are not immediate like debit cards.

When you make a purchase with a bank account, the price you pay is locked in the moment you purchase, but you will not receive your cryptocurrency until 4-5 business days have passed.

So if the value of the currency you bought goes up over that time, you will have made money. Of course, if the value goes down, you will have lost money. Additionally, you don’t own the funds until the 4-5 business days have passed, so if you want to trade for another currency, you’ll be unable to do so until the time passes.

However, bank account purchases do have some major upsides. The limits on bank accounts are much higher, starting at $7,500 per week. The fees are also much lower, at 1.5%.

To link a bank account, select it from the payment method selection. Then choose your bank.

After choosing your bank, enter your bank user ID and password.

If this method fails, or if you cannot find your bank, you can manually add your bank account by giving your routing number. You’ll then be sent 2 deposits to verify. This process will take around 5 business days, as opposed to the other method, which offers instant connection.

Purchasing Cryptocurrency

With your account all set up, you can finally buy some cryptocurrency!

Click the “Buy/Sell” tab at the top of the page.

Select the type of cryptocurrency you want, the payment method, and the amount in dollars.

You will then be directed to confirm your purchase.

You may also have to enter your 2FA code to confirm the purchase.

Selling cryptocurrency is a very similar process. The main difference is that you cannot sell using a credit card. You must sell using either a bank account or a USD account that will hold your money on Coinbase.

Depositing/Sending Cryptocurrency

To deposit cryptocurrency to your Coinbase account, or to send it to another account, first select the “Accounts” tab.

To deposit currency, navigate to your desired cryptocurrency then select “Receive”.

Coinbase will then generate an address for you to send your cryptocurrency to. Be sure to send only that cryptocurrency to that wallet. For example, you cannot send Bitcoin and Bitcoin Cash to the same wallet, or one will be lost. Also, be sure to use your own address and not the example one shown in the picture.

To send cryptocurrency to another address, click the “Send” button.

Next, enter the desired recipient address and the amount in dollars that you would like to send. Be sure to send only to wallets of the same type of cryptocurrency, or it will be lost.

You will then be required to enter your 2FA code to complete the transaction. You will also notice an additional miner fee for sending currency. This fee does not go to Coinbase, it is sent the miners who keep the network running.

Now that you know how to set up an account, buy/sell, and deposit/withdraw, you should have all the knowledge you need to start buying and trading.

Chapter 8

Coinbase vs Coinbase Pro

Coinbase vs Coinbase Pro

Coinbase is one of the most popular Bitcoin brokers – in fact, its user base has surpassed that of stock brokerage Charles Schwab. Coinbase’s popularity skyrocketed in 2020, along with the price of Bitcoin.

Coinbase Pro – also owned by Coinbase – has also seen a similar amount of growth.

As the media began covering Bitcoin’s significant price increase, more and more first time buyers were looking to acquire cryptocurrency. Evidently, most of them chose to use Coinbase. They generated over $1 billion in revenue last year.

But, the question of whether to use Coinbase Pro or Coinbase is confusing for many new users.

What is the difference between Coinbase and Coinbase Pro?

Coinbase Coinbase Pro
Credit Card Fees 3.99% N/A
Bank Fees 1.49% 0.0% – 0.25%
Easy to Use
Coinbase Review Coinbase Pro Review
Go to Coinbase Go to Coinbase Pro

Buying cryptocurrency is confusing, especially if it’s your first time.

Coinbase is designed for ease of use, targeting first time buyers. Their simplistic platform makes it easy for anyone to buy or sell Bitcoin, Litecoin, Ethereum, regardless of their prior experience.

Coinbase Pro is for more advanced users. It has features like bid ask spreads, price charts, order books, market orders, limit orders, and stop limits can be overwhelming to take in all at once for new buyers.

Coinbase users can buy or sell using a bank transfer, credit card or debit card, while enjoying high liquidity. The website doesn’t display fancy price charts, nor does it show any form of order book. The only options available to Coinbase users are to buy and sell.

Coinbase has a simple and easy to understand interface (see image above).

Coinbase Pro only allows you deposit using ACH bank transfer (USA), SEPA transfer (Europe), or wire transfer.

Coinbase’s basic buying platform is perfect for the Bitcoin buying beginner – however, its simplicity comes at a cost.

Coinbase vs Coinbase Pro Fees

When compared to Coinbase Pro, Coinbase’s fees are pretty hefty. They charge a 3.99% fee on credit/debit card transfers and a 1.49% fee on bank transfers.

Coinbase Pro, on the other hand, charges significantly less than Coinbase. If you play your cards right, you won’t have to pay a cent – that’s right, zero trading fees.

Believe it or not, Coinbase Pro is owned by Coinbase, though Coinbase Pro and Coinbase don’t have much in common. Coinbase Pro is geared towards more advanced traders, who enjoy instant transactions and plenty of volume, as Coinbase Pro is one of the most popular exchange platforms.

Coinbase Pro charges 0.1% to 0.25% for taker trades, and no fees at all for maker trades. As long as you place limit orders, you won’t have to worry about paying a fee. What’s more, if you have a Coinbase account, you already have a Coinbase Pro account. Simply log in to Coinbase Pro with your Coinbase credentials. Better still, you can transfer funds instantly between Coinbase and Coinbase Pro.

Coinbase Compared

This table compares Coinbase to other popular exchanges:

Coinbase vs Coinbase Pro Price

Coinbase’s price is based on the Coinbase Pro price, but is usually somewhat higher. This means Coinbase has somewhat of a hidden premium.

For example, as I write this the price on Coinbase Pro is $8917.16 but the price on Coinbase is $8,962.35. So Coinbase has marked up its prices somewhat.

Coinbase Pro vs Coinbase Liquidity

As far as Coinbase Pro’s liquidity goes, you won’t have to worry. Deposits of USD, Bitcoin, Ethereum, Litecoin and BCH to your Coinbase Pro wallet are unlimited. Individuals can withdraw up to $10,000 per day and businesses can withdraw up to $50,000 per day. Higher withdrawal limits can be made available to you upon request.

Coinbase Pro vs Coinbase User Interface

Coinbase has one of the nicest user interfaces of any crypto app. It’s super simple to use.

Coinbase has a simple and easy to understand interface. Simply enter the amount of coin you want to buy and it displays the fees, delivery time and amount clearly.

For an orderbook exchange, Coinbase Pro’s interface is very clean. But for users who don’t know how to use orderbook exchanges it may be confusing.

Coinbase Pro’s interface is much more confusing. There is an orderbook, different order types and fancy price charts. This is confusing for a lot of new users.

Supported Countries

Coinbase Pro and Coinbase support almost the same countries.

Both Coinbase Pro and Coinbase support the following countries:

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United States.

Customers from Singapore, Canada and Australia can only use Coinbase, but are not able to use Coinbase Pro.

Mobile Use

Coinbase has mobile apps for Android and iOS.

There is no mobile app for Coinbase Pro, although the mobile version of the site works quite well on tablets and smartphones.

Withdrawal Fees

Coinbase makes you pay the standard Bitcoin transaction fee, which is usually about $0.10.

Coinbase Pro has no withdrawal fees and pays the Bitcoin, ether and litecoin transaction fees for you.

Chapter 8

Common Coinbase Scams

Common Coinbase Scams

As with anything related to financial products, there is a wealth of scams out there that can be easy to fall for. Be on the lookout for these:

Technical Support Scams

Coinbase will never initiate contact with you via the phone. If anyone calls or emails you claiming to be from Coinbase, be very suspicious, especially if they ask for personal information. Coinbase reps will never ask for our password or 2 factor auth codes. Be especially vigilant if anyone asks for remote access to your computer.

Giveaway Scams

Many scammers will pretend to be Coinbase or famous personalities on social networks like twitter.

In many cases, the scammers will claim that Coinbase is doing a crypto giveaway and that all you need to do is send them a small amount of crypto so they know what address to send your money to.

In reality, the scammer will keep the money and never send you anything.

Coinbase is not likely to do a giveaway like this at any time. Even if they did, they do not need you to send them any crypto in order to send you coins.

This is a very common scam that doesn’t always involve impersonating coinbase, so don’t ever fall for it, regardless of who you think is offering the giveaway.

Phishing Scams

This is a very common ploy where a scammer created a website that looks exactly like Coinbase (or any other exchange) and tries to lure you to that url instead of the real coinbase.com. Once you input your credentials, the site will tell you that the credentials are not correct and to keep trying new usernames and passwords. While you do this, a bot is taking those credentials and trying them on the real coinbase so they can withdraw any funds you have on deposit.

The best way to combat this scam is to always type in coinbase.com into your browser by hand. Do not use shortcuts or follow links in emails or on twitter. URLs can be hidden in hypertext and you won’t even notice you are on a dummy site unless you check the site headers yourself.

Telegram Scams

Coinbase has no presence on Telegram, so anyone that claims to be Coinbase on telegram is trying to steal your money. Do not give these telegram handles any personal information about yourself at all.

Chapter 9

Frequently Asked Questions

Frequently Asked Questions

What is the Coinbase Network Fee?

The Coinbase network fee is not actually a fee charged by Coinbase. The network fee is the fee the blockchain is charging you to send your coins.

For instance, if you are sending Bitcoins to yourself from Coinbase, the Bitcoin blockchain will charge coinbase a fee to send the coins, since it is the sender who pays all the fees. When Coinbase charges you a network fee, they are just passing on the fee of the blockchain to you so you can pay them back.

Coinbase is a regulated company and holds licenses in all districts in which it operates.

So, it’s safe to link your bank account but that does not mean you should ever store bitcoins with Coinbase.

Why is Coinbase’s identity verification not working?

Coinbase does not accept PayPal. Coinbase only accepts the payment methods listed above.

Why is Coinbase telling me my funds are on hold?

Sometimes when there is lots of trading activity happening on Coinbase, their system gets overloaded with requests and funds can get locked up. Unfortunately, there is very little you can do about it except wait. You can try calling customer service, but in most cases they will tell you the holds are automatically flagged by bots and there is nothing they can do about it.

How long you will have to wait for your funds to be released is also inconsinstent. Some people have waited months. If you aren’t sure you can afford to have your funds held that long, we suggest you use a credit card and pay the extra fees for instant purchases. For withdrawals of dollars, there is not much choice. You may have you funds put on hold and you may just have to wait.

Does Coinbase Accept Paypal?

As of November 2020, Coinbase began to accept paypal as a way to withdraw money from the sale of Bitcoin and other cryptocurrency purchases on the platform. You still cannot use paypal to buy crypto though.

Why Isn’t Paypal Working with Coinbase?

There are many reasons Paypal may not be working with your Coinbase account.

If you are trying to buy crypto using Paypal, Coinbase will not allow this. If you are trying to sell crypto and take the money from that sale through Paypal, then its possible your region does not allow you to do this (US, EU, UK). Only Canada is allowed to do this.

Finally, make sure your Paypal account is properly integrated with your Coinbase account. To do this, you need to make sure your identity is fully verified with Coinbase. Once that is done, go to Settings -> Linked Accounts and click “Link a new account”. On Mobile, you go to settings -> “Add a Payment Method”.

Once there, you can select Paypal, and you will be prompted to login to Paypal. If you do not see Paypal as an option,it means Paypal is not supported on Coinbase in your region yet.

Do You Need a Wallet for Coinbase?

You do not, since Coinbase provides a wallet feature.

How Does Coinbase Make Money?

Coinbase makes money by charging fees on trades.

Does Coinbase Charge to Convert Between Cryptos?

Yes, the fee varies based on volume.

What Time Does Coinbase Release Funds?

It varies depending on what time you made your buy. But they only release bank transfer funds on business days.

What Coins Does Coinbase Support?

Bitcoin supports the main coins like: Bitcoin, Ethereum, Litecoin, XRP.

It also supports BAT, BCH, BSV, DAI, DASH, EOS, ETC, KNC, LINK, OXT, REP, USDC, XLM, XTZ, ZEC, ZRX.

Does Coinbase Accept Credit Cards?

No, only debit cards.

Does Coinbase Work in Nigeria?

None of Coinbase services are offered in Nigeria.

Can You Make Money on Coinbase?

If you invite a friend to Coinbase and they buy more than $100 worth of crypto, you can earn $10.

Does Coinbase Accept American Express?

Coinbase only accepts debit cards.

Can You Bypass Coinbase ID Verification?

No, ID is required for all purchases.

Who is Coinbase’s CEO?

The Latest Updates At Coinbase

Coinbase raises $300 million in Series E Financing

Coinbase is one of the most popular ways to buy Bitcoins, and it is now looking to take the ease of use that it provides one step further. The cryptocurrency exchange recently announced that it is raising $300 million as a part of Series E financing at a value of more than $8 billion. Tiger Global Management is leading this financing round, while the other participants include Wellington Management, Andreessen Horowitz, Y Combinator Continuity, Polychain, and others.

Coinbase has identified four areas where it will spend the newly raised capital.

1. Coinbase is now looking to move deeper into regulated markets around the globe by building the platform between fiat currencies and cryptocurrencies.

2. The company plans to quickly add more cryptocurrencies to its platform with the help of the money that it has just raised.

3. Coinbase will keep pouring money into the Wallet application to make it even better, and also contribute toward the development of the USD Coin stablecoin (USDC).

4. Finally, Coinbase plans to bring more institutional investors into the cryptocurrency space by adding more features and crypto assets to its Custody offering.

In all, Coinbase aims to boost cryptocurrency adoption further post the latest round of funding.

Coinbase is now supporting USDC stablecoin – a digital dollar

Coinbase recently announced that its customers in supported jurisdictions can send, receive, buy, and sell the USD Coin stablecoin (USDC) on its website and mobile applications. This marks Coinbase first entry into stablecoins, which have a fundamental difference as compared to other cryptocurrencies. A USDC is pegged to the price of a single US dollar (USD). Coinbase explains that one USDC is represented by one USD on the Ethereum blockchain.

As compared to other cryptocurrencies such as Bitcoin, a USDC doesn’t move on its own accord as its price is backed by a fiat currency in this case. This means that stablecoins such as the USDC can reduce the price volatility usually associated with cryptocurrencies, so they are an ideal way to store value. That’s why Coinbase believes that USDC can be used to buy items in the cryptocurrency ecosystem, such as tickets for blockchain-based games.

Additionally, Coinbase claims that two Ethereum wallets will be able to send and receive large amounts of USDC round the clock and at fast speeds. This will make it easier for the related parties to carry out transactions with USDC as the value of the stablecoin will remain consistent because it is backed by the US dollar.

Review by: Jordan Tuwiner

Coinbase Alternatives

Bitpanda Read Review

Bitpanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.

CEX.IO Read Review

CEX.IO allows for the buying of bitcoins for low fees via credit card. Customers can also purchase for free with bank transfers.

Coinbase Pro Read Review

Coinbase Pro is an exchange run by San Franisco based Coinbase. It has been active since 2020 and supports Bitcoin, Litecoin, Ether and Bcash trading.

Coinmama Read Review

Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.

Kraken Read Review

Founded in 2020, Kraken is a cryptocurrency spot exchange that also offers futures contracts and margin trading.

Luno Read Review

Luno is a Bitcoin broker that supports Europe, South Africa, Nigeria, Indoensia and Malaysia.

Best Binary Options Brokers 2020:
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  • Binomo
    Binomo

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