How to Buy Cryptocurrency
1. enter your name, email, password
2. verify your email address
3. tell them your state
4. verify your phone. This is for security measures to ensure that you are creating the account and that only you are using the account.
5. Continue the identify verification process by uploading your ID on the bottom left of the dashboard.
6. Choose a method to upload your ID or Passport. If you do not already have a copy of the front and back of your ID on your computer, take a photo of your ID with your webcam or smart phone. I found it easier to take a photo with my phone, email myself the photo, and then upload the photo from my computer. Be sure to have a clear and legible photo without glare.
7. Add a payment method. I feel comfortable sharing my bank login credentials with Coinbase. No login credentials have ever been shared and Coinbase has never used a user’s credentials to make transactions without the user’s permission.
8. Visit GDAX.com and use your Coinbase credentials to log in. Coinbase owns GDAX. GDAX is Coinbases’s institutional exchange platform, which is why you can use the same login credentials. GDAX charges less fees than Coinbase so all trades should be made on GDAX instead of Coinbase. Although they are the same entity, you may have to verify some additional information.
After verifying your information you will be able to deposit into your GDAX account.
9. Go to the dropdown menu on the top right and click on Accounts
10. Click the deposit (down arrow) button next to the USD ACCOUNT near the top left to open the Deposit Funds prompt.
11. Choose your deposit method. You can upload via ACH, which should take ~5 business days and is capped at $7,500 per week unless you request a higher limit. If you linked your bank account with Coinbase, your bank account will show up as a source in the bank account tab of the Deposit Funds prompt.
You can also deposit via wire, which has a higher limit and should only take ~1-3 busines days. If you wish to deposit via wire, the wire information can be found under the Bank Wire tab of the Deposit Funds prompt. Go to your bank’s website to initiate the wire and use the wire information that GDAX provides you with to send the wire.
Once you have USD deposited on GDAX you can use your dollars to buy Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), which we explain in a different document. Furthermore, you can transfer those coins to a different exchange (Binance) to trade alternative coins, which will also be explained in a different document.