Buying your first Bitcoin, difficult? Not with Coinbase!

Buying your first crypto, difficult? Not with Coinbase!

Two kinds of people

Bitcoin, who hasn't heard of it these days. There are two types of people who buy Bitcoin , namely those who strive for a better financial environment or those who do it purely for profit (most of us by far). But did you know that in addition to Bitcoin (BTC) there are a several thousand similar coins, such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and so on. These are all listed on the CoinmarketCap website, on this you will find all crypto coins that are in circulation today with accompanying information, such as the price, history and graphs of the currency. The prices are an average of all prices on different crypto exchanges worldwide. In the world there are hundreds of exchanges, such as Coinbase, Binance and Kraken, on which cryptocurrencies are traded, each with their own price for a specific cryptocurrency, such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC). 

Crypto broker or exchange

Do you want to buy Bitcoin or one of the thousands of other crypto coins? Then you are dependent on a crypto broker or exchange. A broker is a company with which you can often buy and sell the most common coins, but you cannot keep hem there or actively trade in them. At an exchange on the other hand, all this is possible and often at lower transaction costs. For example, a stock exchange has a large collection of coins that can be traded with corresponding wallets for the storage of these coins. Coinbase is such an exchange, not the cheapest but the most user-friendly. And that is very important at the very beginning, because we cannot afford expensive mistakes.

Wallets in de Coinbase app


A wallet is actually no more than a digital wallet, but unlike a normal wallet (suitable for any type of currency), you need a separate wallet, for each crypto coin. You have one for Bitcoin (BTC), Ripple (XRP), Litecoin (LTC) etc. For example, if you buy Bitcoin from a broker, they will deliver the requested Bitcoin. But it must of course be stored somewhere, in this case a Bitcoin wallet. You must first download this on your PC or telephone before you can buy Bitcoin at all. Just like when transferring Euros to a bank account, when transferring Bitcoin, you also need some kind of account number, or the public key, for example:  11GHHa6Q5Jz2dhsNExL567mF43ikXhwF5fKLp . The public key can be found in your wallet and is automatically generated. You provide this key with the purchase transaction, so that the broker can send your purchased Bitcoin there. The danger, however, is that you do not enter the public key correctly and that you lose Bitcoin. There is no bank that you call to solve this error.

Private & public key

The Bitcoins that are displayed in your wallet are not actually in your wallet, they remain stored on the Bitcoin blockchain (Bitcoin network) at all times. Your wallet contains the private keys instead of the physical Bitcoins, these unique keys prove that you are the owner of these Bitcoins. So it is, say, the key to the safe with your Bitcoins, comparable to the pin code of your bank account. Example of a private key: "83KHGFGsHeMpn854w5kJNzGWng87GDcd3VjLK5qHFXj5hF" A wallet address can be compared to a bank account number. The private key is not visible in your wallet for security reasons. Let this be! If someone else is in possession of your private key, that is the same as handing over your Bitcoins to that person. However, you can hand over your wallet address, because only Bitcoins can be sent here. A public key is generated from your private key, with this public key wallet addresses are then generated to be able to deposit your Bitcoins. 


Since the private key is equal to your Bitcoins, it is therefore important that you use a strong password for your wallet in combination with 2FA, or "Two Factor Authentication". This means that if you have registered with your login details, another code will be sent via text message or e-mail. You enter this code, after which you will gain access to your wallet or account. 

The block chain

Transaction costs are charged for every transaction that is made, such as buying, selling, sending from one wallet to another. You pay these costs for validating (ie checking whether the transaction is real) of the transaction by so-called miners. A Bitcoin transaction is normally labeled as valid when 6 miners, say controllers, have approved the transaction, only then the transaction is completed. Every 10 minutes, an x ​​number of transactions worldwide are approved and placed in a block. This block is then linked to the previous block, namely that of 10 minutes ago. And so it goes back to 2009, when Bitcoin just existed. So you can look back on all transactions that have been made in the past 11 years on the blockchain.The blockchain is the entirety of blocks linked together from 2009 to now.

Mining Bitcoins

For every block that is added, the miner also receives Bitcoins in addition to transaction costs, only if he solves some kind of crypto graphics puzzle, this puzzle can be compared to participating in a lottery. About every 10 minutes a new transaction block is added to the blockchain, so every 10 minutes somewhere in the world a miner earns Bitcoins. The size of the reward is known in advance and will halve approximately every 4 years, it started 11 years ago with 50 Bitcoins in 2009, 3 years later there were 25 Bitcoins in 2012, then 12.5 in 2016 and from 2020 the reward is 6.25 Bitcoins. This reward is the only means that ensures that Bitcoins are created, which are then put into circulation by the miners by selling them on various exchanges worldwide. Ultimately, 22 million Bitcoins will be created. 

Part of a Bitcoin

Most people just starting out will not want to invest $ 15,500 for a single Bitcoin. The Bitcoin is once again up thousands of dollars at the time of writing. But don't worry. Fortunately, you can buy a part too, a Bitcoin is divided into 100 million Satoshi, or 0.00000001 BTC . You can therefore also board for, for example, a tenner or 100 Euro. 


Bitcoin is still young i.e. 11 years old, the market is slowly starting to mature. For example, more and more rules are being imposed by governments, with which crypto exchanges must comply, you see that the big boys are also starting to invest in Bitcoin, for example large investment companies such as Grayscale  and soon you will be able to buy, sell and pay with Bitcoin via PayPal . That means that the demand for Bitcoin is increasing. On the other hand, the supply is declining because bitcoins are mined about half as much every 4 years, namely it started 50, 10 years ago and has now reached 6.25 Bitcoin. It is estimated that about 3 million Bitcoins are inaccessible, for example due to loss of the password of the wallet, which also benefits the scarcity.


As said before, Coinbase is the easiest and safest option, with its integrated wallets and iDEAL payment. In addition, your coins are insured against, for example, a hack. On Coinbase you can trade via the website in addition to the app. If you have outgrown the beginner stage, you could opt for Coinbase Pro, which allows you to trade, plan purchases and sales, etc. with lower transaction costs. 

Free crypto with Coinbase Earn

As a beginner, if you first want to see how everything works, but without your own money, you can do that via Coinbase Earn. Coinbase Earn is a program from Coinbase that allows you to earn various crypto coins for free by answering simple questions on the basis of a video clip. For each correct answer you will receive an x ​​number of crypto coins, which you can then exchange for Bitcoin or simply for Euros. For example, at the time of writing, there are several coins you can earn, such as $ 9 in Compound (COMP), $ 10 in Stellar Lumens (XLM), $ 6 in Zcash (ZEC), and many others. With every correct answer you receive a part of the amount, for example with Compound (COMP) you will receive $ 3 on your Compound wallet for every correct answer, the value is converted into euros. Click here for a full article about Coinbase Earn , with corresponding answers to the questions by the way.

As you can see, there is a lot to be made with Coinbase Earn


If you invest in cryptocurrency at Coinbase, for example Bitcoin (BTC), it will be stored online in the corresponding Bitcoin wallet. Coinbase therefore manages your Bitcoin, so your private keys. Therefore, make sure you have a strong password and 2FA, or two-factor authentication, with Coinbase. Preferably, have this password generated and stored by a password manager. What is also a safe idea is that there is a helpdesk, should something go wrong, as opposed to a wallet that you have under your own management. Logging in via fingerprint is of course not missing in the app.

Types of orders

With Coinbase you have the choice of two different buy orders, namely a one-time buy order, which is executed immediately, or a periodic buy order, which is executed every set period. You can choose from Every day, Every week, 1st and 15th of the month or Every month.

Coinbase transaction fees

Coinbase doesn't excel when it comes to transaction fees, these are slightly higher than elsewhere. On the other hand, you can manage everything from Coinbase and the chance of making mistakes is much smaller. If you've outgrown the beginner stage, you might consider Coinbase Pro, which not only allows you to trade at lower transaction costs, but also allows you to place more advanced orders.

A. Standard costs buy & sell crypto - Coinbase

Amount Cost
Regardless of the purchase or sale amount, 0.5% transaction costs are charged + the costs from table B below Around 0.5%

B. Coinbase transaction fees - Buy & Sell - Coinbase

Amount Cost
≤ € 10 € 0.99
> € 10 ≤ € 25 € 1.49
> € 25 ≤ € 50 € 1.99
> € 50 ≤ € 200 € 2.99
> € 200 1.49%

The costs of 0.5% from table A are the costs that you always pay + the costs in table B.


Example 1:

So if you want to buy BTC (Bitcoin) for  20, you pay (0.5% x € 20 = € 0.10) + € 1.49 = € 1.59 in costs.


Example 2:

So if you want to buy BTC (Bitcoin) for € 200, you pay (0.5% x € 200 = € 1) + (1.49% x = € 200) = € 2.98 in costs.

C. Convert transaction costs crypto - Coinbase

Amount Cost
Regardless of the amount 2%


Coinbase wallets

As discussed earlier, you need your own wallet for each crypto currency, or a digital wallet. So every crypto coin has its own wallet, Bitcoin (BTC) , Ethereum (ETH) and Litecoin (LTC) has its own wallet, but also the Euro. All Euros that you transfer to Coinbase via, for example, iDEAL come into this Euro wallet, after which you can purchase crypto coins. If you have bought a coin, for example Bitcoin (BTC), it will end up in the corresponding wallet. Next to the wallet is stated what the relevant currency, in this case Bitcoin, is worth in Euros. If you tap on the wallet, you will see the fluctuation in a percentage and a graph in addition to the current value in euros. In addition, all your transactions, such as the purchases and sales of this currency, can also be viewed.

Ticker symbol

As you read earlier in this article, there is an abbreviation behind each designation of a crypto-currency, this is called the ticker symbol and is also used in the securities world, for example, shares indicate as Aegon: AGN, Philips:  PHIA etc . Bitcoin has the ticker BTC, Ethereum: ETH, Litecoin: LTC and so each currency has its own unique symbol. Because a ticker is unique, it prevents confusion and orders can be processed faster. Below is a list of all the currencies you can trade on Coinbase and hold in wallets.



Cryptovaluta, Bitcoin, Ethereum, Ripple, Litecoin, Dash en Monero.

Tradable cryptocurrency on Coinbase EU - 20-12-2021

A tour of the Coinbase app and short instructional videos that explain how depositing Euros into your Euro wallet works, how to buy Bitcoin (BTC), how to convert from one crypto coin to another (with one type cryptocurrency buys another).

How do you deposit money into your Coinbase Euro wallet to buy Bitcoin?

How do you buy Bitcoin on Coinbase?

How do you convert one cryptocurrency into another

A tour of the Coinbase app.

Earn free crypto with Coinbase Earn

Coinbase app

Android IOS

Coinbase Pro

If you ultimately want to trade on Coinbase Pro , you can log in with your existing Coinbase account. iDeal is not supported on Coinbase Pro, but there is a simple workaround for this. You first deposit the amount via iDEAL into your Euro wallet at Coinbase, after which you log in to Coinbase Pro and transfer your credit from Coinbase to Coinbase Pro for free, your credit is then immediately available. As mentioned earlier, in addition to the orders that you can use on Coinbase, you have access to more advanced order types:

A graph on which the value of Ethereum (ETH) in Bitcoin (BTC) is expressed (namely ETH-BTC at the top)

Market order : an order that is immediately executed at the best current price after it has been entered. It is always executed.


Buy sample:

If you place a buy order of 1 BTC (Bitcoin), this order will be executed immediately at the current price.

Sell ​​sample:

If you place a sell order of 1 BTC (Bitcoin), this order will be executed immediately at the current price.

Limit order : an order where you specify a certain maximum buy or minimum sale price in advance, the limit. These orders are then executed on the set limit. It is only executed when the limit is reached.


Buy sample:

If you want to buy 1 BTC (Bitcoin) for € 14,500, but the exchange rate is currently € 15,000, you can specify a limit of € 14,500. If the rate of the BTC then falls to € 14,500, the buy order will be executed at € 14,500. After all, you want to buy as cheaply as possible.

Sell ​​sample:

If you want to sell 1 BTC (Bitcoin) for € 15,000, but the exchange rate is currently € 14,500, you can specify a limit of € 15,000. If the price of the BTC then rises to € 15,000, the sell order will be executed at € 15,000. In a rising market you could enter this order to secure the rise.

Stop order (Stop limit order): With a stop order, you specify a stop level in addition to a limit, the price reaches the stop level, then there is only bought or sold if the price is at or between the stop level and the limit. This is only executed when the stop level is reached.


Buy sample:

If the exchange rate is currently € 15,000, but you want to buy 1 BTC (Bitcoin) for  € 15,200 but no more than € 15,400, you enter a stop order with a stop level of € 15,200 with a limit of € 15,400. When the price rises to € 15,200 or above, the limit is set at € 15,400 and is executed when the price is at or between € 15,200 to € 15,400. It may seem strange to buy higher than the current price, but when the price is only falling in a volatile market, you can choose to buy when the market is rising again.

Sell ​​sample:

If the price is currently € 15,000, but you want to sell 1 BTC (Bitcoin) for € 14,800 but not lower than € 14,600, you enter a stop order with a stop level of € 14,800 with a limit of € 14,600. When the price falls to or below € 14,800, the limit is set at € 14,600 and is executed when the price is at or between € 14,800 and € 14,600. With this order you can limit your loss.




My portfolio, or the wallets with the different crypto coins

Transaction Fees Buy & Sell - Coinbase Pro

price Costs - Part order immediately executable (Taker) Costs - Part order executable later (Maker)
<$10K 0.50% 0.50%
$10 - 50K 0.35% 0.35%
$50 - 100K 0.25% 0.15%
$100K - 1M 0.20% 0.10%
$1- 10M 0.18% 0.08%
$10 -50M 0.15% 0.05%
$50 - 100M 0.10% 0.00%
$100 - 300M 0.07% 0.00%
$300 - 500M 0.06% 0.00%
$500M - 1B 0.05% 0.00%
$1B+ 0.04% 0.00%

If you enter an order, this can be either a buy or a sell order, then it can be executed in whole or in part immediately. If the order is executed in its entirety immediately, you only pay the Taker costs, if the order cannot be executed in its entirety immediately, you pay the Taker costs for the part that can be executed immediately and for the part executed later. the Maker costs.



If you want to buy 0.5 Bitcoin (BTC) at a rate of $ 15,000 per Bitcoin (BTC), but the offer is only 0.25 BTC (Bitcoin) at that time, the 0.25 BTC will be executed at 0.50% (<$ 10K - Taker) and moments later, if there is enough supply, the remainder of 0.25 BTC will run at 0.50% (<$ 10K - Maker).

Coinbase Pro app

Android IOS

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