WEBVTT

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The first section here
called the Dashboard

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will show you the price of
different cryptocurrencies.

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So you can see at the very
top, Bitcoin, Ethereum,

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and Litecoin.

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If you scroll down, you
can see your Portfolio,

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and, of course, the
Performance History Over Time.

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In the next section,
that's where

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you do your buying and
selling of the cryptocurrency.

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In order for this
to work however,

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you need to fund the account.

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This interface is designed
to be very simple.

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So all you need to do
is select whether you

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want to buy the Bitcoin
cryptocurrency or something

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else.

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So let's select Ethereum.

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The second thing
that you have to do

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is figure out the
payment method.

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So I already have a payment
method loaded into here.

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But you would go through a
process to add a new account.

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There are two things you can do.

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You can add a bank
account, or you can use

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a credit card or a debit card.

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When you use a bank account
that is the better, cheaper way

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to move money into Coinbase.

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But the downside is it
can take multiple days

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to action what's called an
ACAT, the actual money movement.

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You could be waiting for five
days, while the price changes.

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So you should set
that up as fast

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as you can so that the
institutions have connections

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to make this work.

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The second way to pay for
cryptocurrency on Coinbase

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is to use a credit
card or a debit card.

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You're essentially
buying this thing

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as if it were a
product at a store.

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The one downside is that you're
going to pay a transaction

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fee of up to 3%.

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That may be quite a
big ask, if you're

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buying a lot of cryptocurrency.

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So we recommend that
you move your money

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through the ACAT process,
but just do it in advance.

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When you set up a
new account, you'll

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have a prompt to enter your
credit card information,

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and you'll probably also
have to get it verified.

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Now that you've selected
your payment method,

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you can scroll down and see
what it is that you're actually

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trying to buy.

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And so in the field
below, you can

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see how much money you're
willing to actually put in

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into this Ethereum purchase.

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In my case, I'll put in $20.

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Coinbase makes this very easy.

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And they give you a big button
that says Buy Instantly.

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So the moment I
click it, they're

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going to charge my credit card
and give me this Confirmation

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screen.

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So you can choose
to confirm the buy

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or to cancel the transaction.

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And I'm going to click Confirm.

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That looked pretty easy.

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I now have a little bit
of Ethereum in my wallet.

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So what is a wallet?

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Let's take a look.

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We're going to click
View Dashboard.

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And take a look at our Accounts.

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And what you'll see
here is a whole series

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of wallets and vaults.

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A wallet is a
little address that

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is associated with the
cryptocurrency that you hold.

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And in this case, Coinbase
controls the access

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to that wallet.

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There are other options.

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You can download software to
your computer, for example.

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Or you can have a
web wallet that's

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associated with a website.

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You can have a mobile wallet
associated with your phone.

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You could potentially
get a hard wallet,

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like a little USB drive.

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Or you can have cold storage.

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Or a paper wallet,
where you actually

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print out the information
from the blockchain.

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These are all different
choices about how you want

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to store your cryptocurrency.

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Coinbase makes it very easy.

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And in some ways, it's secure.

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But on the other hand,
there is a benefit

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to controlling your own fate.

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As an example, when you hear
about Bitcoin forks, which

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is a process by which a
cryptocurrency splits,

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some exchanges may not
support those forks,

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and then you don't
get the dividend

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of the new cryptocurrency.

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So think about this.

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Check out investopedia.com
for the top wallets

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that work for you.

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