Once you have an Ethereum wallet set up, it’s time to get some Ether (ETH) on an exchange. In this post, you will learn how to use Coinbase. Before you sign up for Coinbase, check here whether your country is supported for buying and/or selling digital currencies. If not, try Kraken instead.
Please note that during high interest in digital currency trading, the exchanges might be temporarily unavailable on some days. Don’t worry if this happens, your money is safe in your exchange account even if the website is temporarily unavailable. There is usually less traffic in European morning hours, so try again later if you experience slow loading times or website unavailability. The verification process can also take several days, so be patient when going through this process for the first time.
How to use Coionbase to buy Ether (ETH)
Part 1: Create a new Coinbase account and get verified
Fill in the sign up form on the Kraken website to get started.
To sign up for a new Coinbase account, enter your email on the front page (https://www.coinbase.com/), click “Get Started”, and you’ll be redirected to the account creation page. A verification email will be sent to your email. Open your email inbox and click on the verification link.
Once confirmed, you’ll be able to select your account type, and follow the steps to verify your identity. You’ll have to verify your phone number, provide an ID for verification, and send a confirmation payment. The verification process can take some time. We recommend using your mobile device for uploading your ID, as you probably have a better camera on your smartphone. The verification can also be done through the Coinbase iPhone and Android mobile app.
The sign up process on Coinbase is very easy, but full account verification can take some time.
It’s not unusual to experience problems during the ID verification process. If your ID keeps getting rejected, try using a different ID type. Coinbase recommends using the Chrome web browser during the verification process. If you use an iPhone and have problems getting verified on the verification page you receive in the SMS message, copy the website link and paste it into Chrome. If you keep experiencing issues with verification or adding payment methods, visit the Coinbase Support portal for details on the ID verification process and different payments methods.
Depending on your country, you can buy digital currency using a credit card or a bank account transfer. Buying ETH with a credit card is faster, but we recommend adding a bank account, so you can buy larger amount and also withdraw funds back to your bank account in your local currency. You can manage your payments methods under Settings > Payment Methods.
Optional: while you wait for the verification, we suggest you also check your Two-Step Verification settings under Settings > Security. For extra security, we recommend enabling additional verification through the Google Authenticator app on your iPhone, Android, or Blackberry phone.
Part 2: Buy ETH on Coinbase and send them to your Ethereum wallet
Once your account and chosen payment method are verified, you can buy Ether (ETH) on Coinbase either using your bank account or a credit card (the availability of payment methods varies by country).
Option 1: Buy ETH on Coinbase using a bank account
If you want to buy ETH with a bank account transfer, you first need to fill your local currency wallet, which appears under your account if you’ve added a bank account from a supported country. Sign in to Coinbase, click on the “Accounts” tab, and look for “EUR Wallet” or “USD Wallet”.
Find your EUR Wallet or USD Wallet under Accounts; the availability of local currency wallets varies by country.
Click on your EUR or USD wallet, and on the next page click the “Deposit” button on the right side of your wallet. When you do this, an overlay will appear and show you the details of the Coinbase account you should use to deposit your local currency. Use your online bank to initiate the transaction, and the EUR/USD you sent will appear in your EUR/USD wallet after the banks process your transactions.
Make sure to copy-paste the Reference number when making a SEPA payment.
Once your EUR or USD wallet has been filled, click on the “Buy/Sell” tab. Select Ethereum as the currency you want to buy, choose your EUR or USD wallet as you payment method, and type in the amount of EUR or ETH that you want to buy, click on the “Buy Ethereum Instantly” button, and confirm your order on the next page. Once your order is processed, you can go to the next step and send the ETH to your Ethereum wallet.
Option 2: Buy ETH on Coinbase using a credit card
If you want to buy ETH with a credit card, sign in to Coinbase and click on the “Buy/Sell” tab. Select Ethereum as the currency you want to buy, choose an existing credit card as your payment method, or add a new one by selecting “Add payment method” from the drop-down menu under “Payment Method”. Once you have a credit card with enough limit available, type in the amount of EUR or ETH that you want to buy, click the “Buy Ethereum Instantly” button, and confirm your order on the next page. Once your order is processed, you can go to the next step and send the ETH to your Ethereum wallet.
Buying digital currencies using a credit card is faster, but has a lower transaction limit.
Sending ETH from Coinbase to your Ethereum wallet
Once you have some ETH in your Coinbase account, it’s time to send ETH into your own Ethereum wallet. Click on the “Send/Receive” tab to open the Send Funds form. In the recipient field, copy-paste the public account address of your Ethereum wallet.
- For Jaxx
- copy-paste your public account ETH address from Jaxx wallet into the “Recipient” field.
- For MyEtherWallet
- copy-paste your public account address from MyEtherWallet into the “Recipient” field.
In the Amount section, select your ETH Wallet, so you can enter the Amount to transfer in ETH. Fill in the amount of ETH you want to send to your wallet, add an optional note, and double check the wallet address before clicking the “Send Funds” button and confirming the transaction.
Double check your Ethereum wallet address before saving it to make sure the funds will reach the right wallet.
When the transaction is processed, the Ether you bought will appear in your wallet.
If you use Jaxx wallet, simply open it up, and switch to ETH wallet. You will see a new entry in the Transaction History window on the right, with new ETH balance on the left.
If you use MyEtherWallet, you can click on the “View Wallet Info” tab to check your balance. You’ll have to unlock your wallet by providing the Keystore File and password, just as you’ve done in step 1 of this guide.
Good job! Now that you have some Ether in your own wallet, you will be able to use it to become a project supporter. Follow this guide to make a contribution using Jaxx or MyEtherWallet once the crowdsale starts.