STEP TWO: Payment Method & Using GDAX

Decide what payment method you’re going to use and scroll to it below. Coinbase allows three choices: ACH/ Bank Account, Bank Wire, or Credit Card/ Debit Card. **We recommend that you use debit card (or credit card) since you’ll be able to use your coins instantly**

ACH/ Bank Account (cash deposits)

  • Go to www.gdax.com/trade (owned by Coinbase)
  • Log in with your Coinbase info
  • Click on “Deposit” on the left-hand side

  • Click on “Bank Account” and enter your bank info

Duration:

Your funds will take time to settle. Roughly about 3 to 5 business days, as indicated in the image above. Until then, you’ll have to wait, which may be costly in a surging market. If you prefer the faster alternative, then go about a wire transfer or card payment.

Limits:

There’s a limit to how much you can add with a bank account. That limit is usually $10,000 for new accounts. If you want to add more, then also go about a wire transfer.

Wire Transfers

  • Go to www.gdax.com/trade (owned by Coinbase)
  • Log in with your Coinbase info
  • Click on “Deposit” on the left-hand side

  • Click on “Bank Wire”

  • Print or screenshot the image above from your account (different account numbers). Go to your bank with the printout or initiate a wire online (if applicable).

Duration:

They are completed on the same business day if they’re initiated before 1:00pm PT/ 3:00pm CT/ 4:00pm EST.

Limits/ Fees:

There is no limit to how much you can wire; however, there is a fee of $10, not including your bank’s fee.

Credit Card/ Debit Card **INSTANT**

  • Buy Ethereum (ETH) directly on Coinbase.com or the Coinbase mobile app with your credit card or debit card
  • Go to www.gdax.com/trade (owned by Coinbase)
  • Log in with your Coinbase info
  • Hover over “BTC/USD”, and choose “ETH/USD”

  • Click on “Deposit”
  • Click on “Coinbase Account”

  • Select “ETH wallet”
  • Enter the full amount from your wallet
  • Click “Deposit Funds”

Duration:

Credit card/ debit card purchases go through instantly and are available for trading/ selling instantly.

Limits/ Fees:

Coinbase puts a limit of $750 per week of credit card/ debit card purchases for the first month of opening a new account. There is a 3.99% processing fee for using a credit or debit card, which is fair considering instant availability.

*The beauty of using GDAX (Coinbase’s online trading platform) is that you aren’t charged fees for transactions. So, you’re ready to trade with charts, ability to view open ordersrecent transactions, and NO fees.

IF YOU WISH TO TRADE CURRENCIES OTHER THAN $BTC, $ETH, and $LTC, COMPLETE STEP ONE & TWO AND PROCEED TO STEP THREE.

Continue to step three here.