Personally, I find Coinbase to be the easiest and pain-free way to buy Bitcoin quickly. As of this writing, they offer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Keep in mind BCH is not Bitcoin, it’s a fork of the original Bitcoin and is not traded against Altcoins on most exchanges.
At Coinbase, You can buy bitcoin with debit or credit card (for a fee) or purchase crypto with your Bank account via ACH transfer. If you are impatient, buying digital currency with debit card will get your account funded immediately. However, the 3% fee can be taxing if purchasing a large sum. It’s recommended to use a card that gives you cash back, so the fee doesn’t really matter. ACH can take up to a week, but it’s locked in at the price when you submit.
For me personally, I’ve got my eye on so many Altcoins, if I see the market has dipped for Bitcoin or Ethereum, I want to fund my account asap and start trading right away. Waiting a week after the account has settled, the market can look entirely different. So again, get yourself a credit card that gives cash back and the fee will seem insignificant, not to mention if you’re buying at a market low, you’ll make that small fee back.
Sign up requires photo ID and identity verification. This is a requirement for them to comply with laws and jurisdictions in NY State and you are liable for taxable gains. It’s quite painless and standard procedure, the added level of security is a safety measure and protects its users. The approval process is quick and easy.
Coinbase can be used as a wallet to store your Cryptocurrency, however, it’s also a very simple entry-level exchange. The chart is simple and easy to understand and there’s simple buy and sell buttons. If you have a Bitcoin balance, you can see the value in USD, if the value is rising, you can see your dollars gaining value (exciting isn’t it?). Want to trade your crypto back to Fiat? Simply hit the sell button and convert into USD, GBP or EU, which can be transferred back to your bank account.
There’s also a nifty app, so while you’re on the go and an opportunity to buy presents itself, simply open the app, select the amount you want to purchase and buy. If there’s a huge swing upwards and want to cash out, sell. Easy peasy.