Since the cryptocurrency market is growing, investors and normal people show our interest in buying cryptos. Even though different cryptocurrencies are available in the crypto world, bitcoin is still considered the best. The bitcoin price is growing, so investors think spending their money is a great deal. Unlike before, plenty of ways is there to Buy Bitcoin with a USD Wallet. So, you can choose any one of the methods suitable for your needs and enjoy the advantages of bitcoin to the core.
At present, people wish to use the popular cryptocurrency exchange platform Coinbase to make their buy decision. It is a reliable platform to buy and sell bitcoin and . As many people want to buy and sell bitcoin using the USD, Coinbase has introduced the USD Wallet. It is useful for the people who involve in regular cryptocurrency purchases. This wallet lets users transfer dollars into the wallet on the exchange. Do you want to know more about this wallet? Scroll down your eyes!
What are the Benefits of Using US Dollar Wallet?
- Coinbase has enabled USD wallets for its customers in more than 16 US jurisdictions. It permits the users to store dollar balances and make instant bitcoin buy without waiting longer for bank transfers. It renders a great solution for the users who long to buy using USD dollars. Now, US-based customers also have the option to store fiat currency, which Coinbase customers in 13 eurozone countries have enjoyed so far. It makes bitcoin Buy and sells beyond the US for the first time.
- Before, instant buy was the only way US customers acquired bitcoin without any delay. But, it needs a credit card. People who do not have credit cards confront many hassles in accessing this method. But, with the new wallets, users will add USD whenever they want and use the balance for instant trades later. They can even use the USD wallets to store bitcoins and withdraw them to the connect bank account anytime they wish. Since Coin base does not charge any fee for deposits and withdrawals made through ACH bank transfers. You will enjoy more benefits of bitcoin.
- The launch of USD wallets brings huge benefits for the Coinbase users. This new feature lets users store US dollar balances on Coinbase. Apart from holding US dollars on Coinbase, you can buy and sell the cryptocurrencies such as bitcoin with the help of this wallet . It is one of the major benefits of accessing this wallet.
- As soon as you deposit USD into your wallet, you no longer need to wait for the conventional bank transfers to clear before the order completion. So, you will leave all your worries away and make the bitcoin buy. Coinbase can process bitcoin purchases on-demand using funds from USD wallets. Another major benefit of using this wallet is that you no longer need a credit card.
- Whenever you want to Buy Bitcoin , you have to enable instant buy that needs a credit card. But, with the USD wallets, you can transfer US dollars to your Coinbase account. Then, you can use those funds to buy bitcoin from Coinbase. When you do not spend the funds, you can withdraw the funds back to your linked bank account as per your wish and convenience.
- For that, you will not need to pay a single penny as the charge. You can send funds to and from your USD wallet through ACH bank transfer in the US. US wallets are now accessible to Coinbase customers who have verified their identity in supported states within the US. If you do not see the USD wallet in your account, you must understand that you are locate outside of the state’s Coinbase currently support. USD wallet will enable if you live in the support state. You can use the wallet by signing in and making the deposit.
How to Buy Bitcoin With a USD Wallet?
Are you decided to buy bitcoin using the USD Wallet? If yes, you need to use the reliable cryptocurrency exchange that supports the USD-based wallet. At present, Coinbase offers that service, and thus you can make use of that cryptocurrency exchange without hesitation. Here are the step-by-step instructions to follow to make the bitcoin buy decision.
- Setup Your Coinbase Account
You should visit the Coinbase website to create an account. If you already have the Coinbase account, you can proceed with the next step. Coinbase has both android and iOS apps to manage your accounts. But, the simplest way to create the account is by using their website. So, visit the Coinbase website and enter your email address in the concerned box.
Make sure you use a reliable email address to sign in and manage your cryptocurrencies. You will see the pop-up asking you for more account details, such as your first and last name, setting a password, and re-confirming your email address. You need to be at least 18years to sign up for an account.
Ensure you use your real name because Coinbase will access it for account verification. Next, the Coinbase will send you an email to verify your email address. As soon as you get the email, click on the link, and now you have access to your Coinbase account. The best thing about Coinbase is that there is no upfront waiting period. So, you can sign up, confirm your mail id and do whatever you want.
You can enable 2FA to make your Coinbase account more secure. Usually, Coinbase assumes that you sign up for the individual investment account. So, verifying your identity is the next major part of the signup process. To verify your identity, you have to provide your full legal name, date of birth, photo, driving license, state ID card, and others. The process may take a few minutes. Once your identity is confirm, you are ready to fund your Coinbase account.
- Fund Your Account Using USD
If you are a US resident, you can use the Coinbase’s USD wallet to fund your account with USD through bank wire or ACH transfers. But, before transferring funds from your bank, you should verify your US bank account with these steps.
- Open the trading view at pro.coinbase.com/trade
- Choose the deposit option on the left-hand column under wallet balance
- Select USD in the currency type field
- Choose the bank account -> from -> add account
- Now, you will redirect to Coinbase.com to complete the bank account verification process
That’s enough! Now, you can deposit USD from the US bank account through ACH or bank wire. You need to follow the first three steps mentioned above to do so. After that, choose the bank account tab and select the verified bank account from the drop-down menu. Then, specify the USD account for the transfer and choose the deposit USD option to confirm.
With bank wire, you must choose the wire transfer tab and follow the on-screen instructions to start the wire transfer from the bank account to the Coinbase Pro account. Bitcoin purchases using the US Dollar Coin are made available . Then, you can choose buy option and enter the amount of bitcoin you want to buy. Confirm the transaction after checking all the aspects