Coinbase.
Your first step into crypto.
If you've never bought cryptocurrency before, Coinbase is one of the easiest places to begin. You can connect your bank, fund your account, buy crypto, sell it and eventually transfer it to your own cold-storage wallet.This guide walks through the entire process — step by step.
Don't overcomplicate this.
Your first crypto purchase really comes down to four basic steps.
Open Coinbase
Create your account and complete identity verification.
Add money
Connect an eligible bank account or fund Coinbase using a supported Canadian payment method.
Buy crypto
Choose Bitcoin, Ethereum, Solana or another supported cryptocurrency and make your purchase.
Hold or transfer
Keep it on Coinbase or eventually move it to a cold-storage wallet such as Tangem.
Download the Coinbase app.
Make sure you're downloading the official Coinbase app published by Coinbase. Avoid downloading crypto apps from links sent through random emails, texts, Telegram or social media messages.
Getting Coinbase ready.
Coinbase is a regulated financial platform, so expect to verify your identity before you can fully fund and use the account.
Create your account
Open the Coinbase app and create an account using your real name, email address and secure password.
Verify your email and phone
Follow the verification prompts Coinbase sends you.
Complete identity verification
Coinbase may request personal information and government-issued identification.
Turn on account security
Enable the security options Coinbase provides. Protecting your account is just as important as choosing what crypto to buy.
Connect your bank to Coinbase.
Canadian customers currently have several ways to fund Coinbase. Two of the most useful are a Canadian bank account through EFT and Interac e-Transfer.
Bank Account / EFT
Coinbase currently allows eligible Canadian customers to connect a bank account using EFT.This can be used to buy crypto, add Canadian dollars and cash money back out to your bank.
Interac e-Transfer
Canadian customers can also add Canadian dollars using Interac e-Transfer.This can be a simple way to move CAD between your bank and Coinbase.
The name on your bank account or payment method should match the name on your Coinbase account.
Adding a payment method.
Connect your bank
- Open the Coinbase app.
- Open your profile or account menu.
- Go to Profile & Settings.
- Look for Payment Methods or Add a payment method.
- Choose the Canadian bank / EFT option when available.
- Follow Coinbase's secure bank-verification instructions.
- Once verified, your bank should appear as an available payment method.
Add cash using Interac
- Open Coinbase.
- Choose the option to add cash or funds.
- Select Interac e-Transfer if it is available on your account.
- Enter the amount of Canadian dollars you want to transfer.
- Coinbase will provide the instructions required to complete the e-Transfer.
- Follow those instructions exactly from your online banking app.
Okay. Let's buy something.
Once your account is funded or you have an eligible payment method, buying crypto in Coinbase is straightforward.
How to buy
- Open the Coinbase app.
- Select Buy & Sell.
- Choose Buy.
- Select the cryptocurrency you want.
- Enter the dollar amount you want to purchase.
- Check the payment method being used.
- Select Review Order.
- Review everything carefully.
- Select Buy Now.
Before pressing Buy
- Confirm you're buying the correct cryptocurrency.
- Check the amount.
- Review Coinbase's displayed fees and pricing.
- Check which payment method you're using.
- Don't rush simply because the market is moving.
How to turn crypto back into cash.
Selling and withdrawing money are two different steps.First you sell the cryptocurrency. The cash then appears in your available cash balance, where eligible withdrawal options can be used.
Sell the crypto
- Open Coinbase.
- Select Buy & Sell.
- Select Sell.
- Choose the cryptocurrency you want to sell.
- Enter the amount.
- Check where the proceeds will go.
- Select Review Order.
- Select Sell Now.
Cash out to your bank
- Open your Coinbase cash balance.
- Choose the option to cash out or withdraw.
- Select your eligible bank account or withdrawal method.
- Enter the amount you want to withdraw.
- Review the destination carefully.
- Confirm the cash-out.
Coinbase → another wallet.
Eventually you may want to move crypto from Coinbase to a hardware wallet such as Tangem.This is where you need to slow down and pay attention.
1. Get the receiving address
- Open the wallet you're sending crypto to.
- Select the cryptocurrency you want to receive.
- Choose Receive.
- Select the correct blockchain network.
- Copy the receiving address.
2. Send from Coinbase
- Open Coinbase.
- Select the send or transfer option.
- Select the cryptocurrency.
- Enter the amount.
- Paste the receiving address.
- Select the correct network.
- Preview the transaction.
- Confirm the send.
If I'm moving a meaningful amount of crypto, I don't send the entire amount the first time.Send a small test transaction. Wait for it to arrive. Confirm everything worked. Then send the rest.
Moving crypto INTO Coinbase.
Find your Coinbase receiving address
- Open Coinbase.
- From the home screen choose Transfer.
- Choose Receive Crypto.
- Select the cryptocurrency you want to receive.
- If Coinbase asks for a network, choose the correct blockchain network.
- Coinbase will display your receiving address and QR code.
- Copy the address and use it as the destination from the sending wallet.
The network matters. A lot.
A crypto address isn't the only thing you need to check.Many cryptocurrencies can exist on multiple blockchain networks.
The network selected on Coinbase needs to be compatible with the network supported by the receiving wallet.
If you're uncertain, stop. Check the receiving wallet. Check Coinbase. Make sure both sides match before pressing Send.
Think of them as doing two different jobs.
Coinbase is the on-ramp.It's where you can connect traditional money to the crypto world — fund your account, buy crypto and sell crypto.
Tangem is self-custody.Once you're comfortable and your crypto holdings become meaningful, you may decide that some of your assets should no longer remain on an exchange.
That's when the next guide becomes important:
Learn About Tangem Cold Storage →A few habits that can save you a fortune.
Start small. Learn by actually doing it.
Crypto sounds complicated when somebody tries to explain everything at once.Don't try to understand Bitcoin, blockchain networks, wallets, DeFi, stablecoins and cold storage on day one.
Open your account.Connect your bank.Transfer a small amount of money.Buy a little crypto.Learn where everything is.
Then learn how to transfer a small amount between wallets.
$50 worth of hands-on experience can teach you more than watching another five hours of YouTube videos.
Ready to get started?
Download Coinbase directly from the official Apple or Google app store.