If you have been trying to find a way to buy Electroneum, you have probably noticed that you can´t purchase ETN with FIAT currency (US dollars, Euros etc…). For now Electroneum is only available to be traded for other cryptocurrencies such as Bitcoin and Ethereum. Bitcoin and Ethereum can be bought with FIAT currency, so you only need to do one extra step to be able to use your money to buy Electroneum.
In this tutorial we will walk you through the process of buying Bitcoins from Coinbase. Coinbase is one of the biggest digital currency exchanges, currently operating in the following 32 countries:
The initial account setup process takes around 10 minutes to complete. This is due to added security and identity verification to make sure your money is safe. You should have your passport, drivers license or photo ID available to complete the registration. Note that this is one time process. Buying and selling Bitcoins with Coinbase is simple, fast and safe!
Step 1: Go to Coinbase website and click ”Sign Up” from the upper right corner of the website.
Step 2: Fill out your information
Fill in your name, email address and choose a secure password. Tick the reCAPTCHA box and age and User Agreement box. Then click ”CREATE ACCOUNT” to continue.
Step 3: Verify your email
Head over to your email and open up the email that was sent to you by Coinbase. Click the ”Verify Email Address” link to proceed.
Step 4: Add a phone number
Choose your country from the drop down menu and fill in your phone number. Click ”Send Code” to proceed. Remember to drop off the first zero from your phone number.
Step 5: Verify your phone number
Open up the SMS that Coinbase sent to your phone number. Type in the 7 digit verification code and click ”Submit”.
You can now see your Coinbase dashboard. As you can see there is still two additional steps to complete your Coinbase account. You need to verify your identity and add a payment method.
Click ”Verify your identity” from the lower left side of the dashboard. It is located under ”Complete Your Account” section.
Step 6: Verify your identity
Choose the identity type that you would like to use for verification. You can use Passport, Driver´s license or Photo ID.
After you have chosen the identity type, you need to choose an upload method. Your options are webcam or mobile camera. We recommend using the mobile camera method.
If you choose mobile camera method, Coinbase will send you an SMS with a link from where you can take and upload photos of your ID. Do not leave the page before you are done with your mobile uploads.
Follow the instructions on your mobile phone and take a photo of the front and the back of your ID. After you have taken the photos click ”Complete verification” to proceed.
If your upload completed without any problems you should now see screen saying ”Upload successful – Return to your computer to complete verification”
Your computer screen should now state that Coinbase is verifying your ID. Be patient as the verification can take couple of minutes.
After the verification is done, you get message ”Identity verified”. Click ”Continue” to proceed.
Your identity is now verified and the only thing to do before you can buy Bitcoins is to add a payment method.
Click ”Add a payment method” from the lower left side of the dashboard. It is located under ”Complete Your Account” section.
Step 7: Add a payment method
Choose your preferred payment method. For smaller amounts we recommend using the credit / debit card method.
Fill in the billing address of your credit card. Click ”Add Billing Address” to proceed.
Add credit card details. Click ”Add Card” to proceed.
You account is now all set to purchase some Bitcoins!
Step 8: Buy Bitcoins
Click ”Buy/Sell” on the upper left corner of the screen.
Choose the purchase amount. On the right side of the screen you can see details of the purchase. On the top there is the amount of Bitcoins you will receive.
Click ”Buy Bitcoin Instantly” to proceed with the purchase.
Review your purchase details and confirm the purchase by clicking ”Confirm Buy”.
Depending on the bank that issued your credit card, you might be asked for additional verification for your purchase such as 3D Secure verification.
After your purchase is confirmed you can see your Bitcoins in your Coinbase Bitcoin Wallet. You can find your wallet by clicking the ”Accounts” tab on the upper side of the screen.
From this tab you can also send your Bitcoins to other wallets (such as other Exchanges to buy Electroneum). You can also receive Bitcoins to your Coinbase wallet.
Now you have bought your first Bitcoins from Coinbase!