With Coinbase you can do everything from one place. Coinbase is truly an all-inclusive wallet – allowing you to buy/sell crypto, and move funds directly to your bank account.
This guide includes steps for:
Haven’t created an account at Coinbase yet? No need to worry – we’ll walk you through every step.
Just head to https://www.coinbase.com/, hit Get Started and fill out your personal details.
NOTE: The site will ask what you will use Coinbase for and your source of funds. This info is only for Coinbase to track users, so regardless of what you answer your experience will be the same.
Verification codes will be sent to the email you registered and to your mobile phone.
Once your account is verified, you will be shown the option for adding a payment method.
If you don’t see that screen, you can scroll down to the bottom of the page and you’ll see ‘Add a payment method’.
We recommend using Debit Card to buy Bitcoin since this is the fastest method.
- Hit Debit Card
- Enter your billing address
- Enter the card details
- Hit Add Card
With your card now linked to Coinbase:
- Go to the Trade section in the top right corner
- Hit Buy (If it is the first time you are buying Bitcoin on Coinbase, you’ll be asked to verify your ID first) To do this:
- Hit Submit ID + Photo Verification
- Choose your ID type and upload a photo of your ID
- Upload a photo of your self
- It should take just 2-3 minutes for your ID to be verified by Coinbase
- With your ID now verified, choose the type of crypto you are buying (e.g., “Bitcoin”)
- Enter the amount in USD you want to spend on the purchase
- Hit Buy Bitcoin then Preview purchase
- Hit Buy Now
Now that you have Bitcoin available in your Coinbase account, go to the Galaxy website, log in and follow these steps:
- Open the Cashier
- Select Deposit
- Select Bitcoin
- Enter the amount to deposit (this must be the exact amount you want to deposit)
- Claim a bonus(optional)
- Hit GET ADDRESS
You will now need to copy this address. Just tap anywhere on the address or on the copy icon (like two sheets of paper) to the right. Please do NOT type addresses by hand. Always use the copy-paste tool!
Next, return to your Coinbase account, and:
- Open Portfolio at the top of the screen or scroll down to Your Portfolio
- Select the type of cryptocurrency you're going to send (e.g., 'Bitcoin BTC')
- Hit the Send button
- Select the amount
- Paste the Bitcoin address you copied from the Galaxy Sports cashier
- Hit Send
Your deposit will be posted to the blockchain and it usually takes 10-60 minutes to be confirmed.
You can check the status of any transaction by going to the blockchain website and entering your deposit’s address: https://www.blockchain.com/explorer.
To withdraw to Coinbase, just follow these steps:
- Hit the Portfolio button at the top of your screen, or scroll down to the Your Portfolio section
- Here, select the type of crypto (e.g., "Bitcoin") you want to withdraw
- Hit the Receive button (If it's the first time you are buying Bitcoin on Coinbase, you’ll be asked to verify your account first)
- Copy your Bitcoin address
Now, go to your Galaxy account and:
- Open the Cashier
- Select Withdraw
- Choose Bitcoin
- Choose the amount
- Paste the Bitcoin address you had copied from your Coinbase account
- Hit Verify Withdraw
- Request the code to your mobile phone to confirm the payout.
It normally takes only 2-3 hours for your withdrawal to be sent, but may take up to 48 hours in some rare cases.
IMPORTANT: We highly recommend withdrawing your Bitcoin out of your Coinbase wallet as soon as you receive it. This way you protect yourself against any possible drop in the value of Bitcoin.
Once the Bitcoin hits your Coinbase account, follow these steps:
- Hit Trade
- Select Sell Bitcoin
- Enter the amount to sell
- Hit Preview Sell and confirm everything is correct
- Select Sell Now to convert the Bitcoin to USD
- Select View accounts and choose your United States Dollar (USD) bankroll
- Hit Withdraw
- Next, you need to choose where you want to withdraw to, either Bank Account or PayPal (If you have not done so yet, you'll need to link your bank or PayPal account first)
- Preview to make sure all details are correct then hit Confirm Withdraw
It should take 1-2 business days for the funds to arrive in your bank account. If you are using PayPal, the withdrawal should be processed in a few minutes.
You can check the Coinbase website for more details about the exact time frames.