how to make money on coinbase for beginners

Coinbase offers beginners a user-friendly platform to trade over 200 cryptocurrencies, allowing for strategies like long-term holding (HODL), dollar-cost averaging, or leveraging price fluctuations, while also offering earning opportunities through Coinbase Earn and staking.

Mar 21, 2025 at 02:47 pm

In the field of digital currency, Coinbase, as a world-renowned cryptocurrency trading platform, provides beginners with a convenient way to participate in the cryptocurrency market. Here is a detailed guide for making money on Coinbase for beginners.

Understand the Coinbase Platform

Founded in 2012, Coinbase is a US-listed company that provides digital currency exchange and wallet services. It operates in more than 100 countries and supports the transaction of hundreds of cryptocurrencies such as Bitcoin and Ethereum. The platform's operating interface is simple and safe, and is trusted by more than 68 million users around the world. Its trading model is simple and easy to understand, has a basic trading interface suitable for novices, and has advanced trading functions for professional traders.

Registration and Account Settings

Register an account on the Coinbase official website or mobile application, fill in your personal information as prompted, and set a security password. After completing the registration, be sure to perform identity verification. This step can improve account security and also determine the transaction amount you can use. After passing the authentication, set up two-factor authentication, such as SMS verification code or Google Authenticator, to further ensure account security.

Recharge funds

Coinbase supports a variety of recharge methods, including bank transfer, credit/debit card payment, etc. Bank transfers are highly secure but may take 1-3 working days to arrive; credit/debit card payments arrive instantly, but some banks may consider it as cash advances and charge additional fees. Choose a recharge method that suits you and recharge funds into your Coinbase account for subsequent transactions.

Choose the right cryptocurrency

On the Coinbase platform, you can trade over 210 cryptocurrencies. For beginners, it is recommended to start with mainstream coins, such as Bitcoin and Ethereum. Bitcoin is the largest and most well-known cryptocurrency with relatively high stability; Ethereum has a wide influence in applications such as smart contracts. Studying the characteristics of each cryptocurrency, market trends, and the technology behind it can help make informed investment decisions.

Trading strategy

Long-term investment (HODL)

After selecting a potential cryptocurrency, hold it for a long time and ignore short-term price fluctuations. For example, over the past few years, the prices of Bitcoin and Ethereum have generally been on the rise, with long-term holders experiencing considerable returns. However, it should be noted that the cryptocurrency market is highly uncertain, and you must fully evaluate your risk tolerance before investing.

Regular quota investment

Regularly invest a fixed amount in purchasing cryptocurrencies to avoid making wrong decisions due to market fluctuations. For example, you can buy Bitcoin at a fixed monthly price of 500 yuan. You can buy more quantities when the price is low, and buy less when the price is high. In the long run, you can average the cost and reduce the impact of market volatility.

Trading with price fluctuations

Pay close attention to the market price trend, buy when the price falls to the preset psychological price, and sell when it rises to the target price. However, this method needs to be sensitive to the market and set a stop loss point to prevent huge losses caused by excessive price decline.

Earn extra income

Participate in the Coinbase Earn project

Coinbase Earn provides some learning tasks that can be rewarded with specific cryptocurrencies upon completion. For example, learn the knowledge of a certain crypto project, watch related videos and pass simple tests to get the corresponding tokens. Although the reward amount may not be large, it can help you learn more about cryptocurrency knowledge and projects.

Pledge cryptocurrency

Some cryptocurrencies support pledge. If you deposit them into Coinbase’s pledge service, you can get additional income in a certain proportion. For example, if you pledge Ethereum, you can get a certain amount of ETH2 rewards, but the liquidity of the coins during the pledge will be limited.

Making money on Coinbase requires continuous learning and practice, accumulation of experience, and adjustment of strategies according to market changes. At the same time, remember that there are risks in cryptocurrency investment and the investment amount should be within your affordable range.

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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

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