Cryptocurrencies

Buy and Sell Bitcoins in Euros easily

Here is a complete guide to get started in selling and buying Bitcoins with the platform. Coinbase.

Coinbase is a fairly easy-to-learn exchange and is ideal for getting started.

Be careful the fees are high but it still allows you to learn and buy your first Bitcoin and even to make a profit !

The platform also allows them to be exchanged for Euros.

Coinbase presentation

To know

Since the first version of this article, the platform has changed so we have updated our article (May 2019) with the new features offered by Coinbase

Coinbase is a secure platform that has a good reputation in the cryptocurrency world.

It is also renowned for its fairly high costs compared to other exchange platforms.

Therefore we are going open a Coinbase account in order to put a foot in the world of cryptocurrencies.

I put you an affiliate link that offers you a big bonus when you buy bitcoins.

I open my CoinBase account

To know

You will receive € 8.24 in bitcoin when buying or selling for € 82.44 or more on Coinbase!

Coinbase homepage

To take full advantage of your account, you will need to validate your identity.

It is thus necessary provide a front and back scan of your identity card, passport or driver’s license

To know

Please note that your documents must not be out of date!

It should be understood that Coinbase is a gateway to converting euros into various cryptocurrencies.

The platform is developing and offering other cryptocurrencies like Ethereum, LiteCoin, XRP in short, it is no longer the 2017 platform which only offers 3 currencies.

Configuration of payment methods

You must then configure your payment method. For that you have to go to the page

  • Add your bank account (the costs are reduced but the delays longer approximately 2-3 working days)
  • Add your bank card (high costs but very fast turnaround around 1 to 2 hours)

To validate your bank account you must send a small amount with a reference code given by Coinbase.

add coinbase payment method

Good to know: As the market is very volatile, you can take the lead by transferring a few Euros in advance to your Coinbase account using a bank transfer. Thus you will limit the costs and, you will have € to exchange for BITCOINS on the platform.

For some time now you have been able to add your Paypal account! And that’s super practical for collecting funds. You must first have validated your identity.

Here’s how to do it:

1 – Go to your profile then account settings

2 – Click on Associated Accounts

3 – Associate a new account.

4 – Choose the Paypal account , you are then redirected to connect your account.

associate a paypal account on coinbase

paypal coinbase choice

Deposit Euros on Coinbase

To avoid high fees I advise you to deposit Euros into your Coinbase account.

These Euros can then be exchanged for Bitcoin, Ethereum or Litecoin.

You have to go to the Accounts menu:

coinbase btc euro

Click on deposit in order to obtain your reference number:

euro coinbase deposit

Click Continue , you can then specify the amount:

coinbase account deposit validation

Continue in order to obtain Coinbase’s IBAN and SWIFT code:

Coinbase euro deposit finalization

Be sure to specify the reference code when making your transfer to ensure that the funds will go to your account.

Once your payment methods have been configured, you will be able to buy Bitcoin (or Ethereum or LiteCoin which is offered on Coinbase).

For that you have to go to the menu PURCHASE / Sale

coinbase purchase

You choose the Cryptocurrency to buy and then you choose your payment method.

Regarding the payment method:

If you have not deposited euros into your Coinbase account then you will only be able to buy euros with your bank card.

You can choose to sell your Bitcoins (or Ethereum and Litecoin) by going to the Buy / Sell menu.

coinbase sale bitcoin

Bitcoins sold are stored on your “EUR WALLET”.

Exchange your Bitcoins for Euros

Once in the EUR WALLET you can make a withdrawal to your bank account.

For that you have to go to the Accounts menu.

coinbase btc euro

Click on Withdrawal in EUR WALLET to withdraw your euros to your bank account.

You will receive them within 48 / 72H.

Coinbase and security

This is a very important point regarding this kind of platform.

Don’t neglect safety:

  • Choose complex passwords!
  • Activate Double Factor Authentication (SMS)
  • Don’t store too much money in your account!

The site is still secure but there is no zero risk.

You can transfer your BITCOINS to a wallet for which you know the encryption key and which is installed on your computer.

Know that Coinbase has taken out insurance for several million euros!

For further…

You can also do Bitcoin Trading (buy when the price is LOW and resell when the price is HIGH)

However, pay attention to the fees that are levied on every transaction.

You can also create addresses in order to receive BITCOINS on your COINBASE account, for this in the account menu click on RECEIVE in order to generate a BITCOIN address (BTC)

btc coinbase address

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