Coinbase Review: What to Know if You’re Not a Crypto-Guru
In the interest of full transparency, let me start this Coinbase review by simply saying that I am not a Cryptocurrency guru. At all. While starting this website has led me to be far more interested in it, I’m writing this guide for the readers of this site.
People coming to Biology Boost are likely not interested in reading all the ins and outs of Bitcoin and other digital currencies. Most of you simply want to know how to utilize a currency like Bitcoin to buy your nootropics.
Many online Modafinil, sexual enhancing drugs, and other nootropics take Bitcoin as a form of payment. Therefore, for simplicity’s sake, I’m assuming that you are not one of the people keeping thousands of dollars in a BTC wallet/vault/etc.
You’re just a person who wants to buy $100 worth of Bitcoin so you can order Modafinil.
Great, now let’s get started on this Coinbase review for the purpose of purchasing nootropics.
The BiologyBoost.com Coinbase Review
Introduction to Coinbase
Let’s get this out of the way first, there are certainly a lot of negative Coinbase reviews out there. The majority of the time, this is because the people writing them are looking to do a bit “more” with it.
They want more features, less restrictions, and all sorts of things that I’m still trying to get a grasp on.
With that being said, if you’re simply looking to buy and use $100 worth of Bitcoin, you’d be hard pressed to find a more simple option than Coinbase. This does not mean the best, but simple. Time is money. Sure, if you’re investing your life savings in Bitcoin you want to do your ample research.
With that being said, here are some quick facts you should know about Bitcoin and Coinbase.
- They require a verified ID such as a passport or driver’s license. They must be current.
- You will receive a Bitcoin wallet. This is a long address with various numbers and characters. This is where you send BTC. It works much like a PayPal account, but instead of sending it to someone’s email it’s their Bitcoin wallet.
Understanding Wallet Security
No doubt you stumbled across some posts that said you should never store your wallet with Coinbase. Let me elaborate on this a bit.
Bitcoin is essentially stored in digital format—duh, I know. This means that you can actually keep your money (in Bitcoin form) on your own computer, flash drive, etc.
You can have a company like Coinbase do it. Of course, this has both it’s pros and cons.
Obviously, a big name site like Coinbase is a prime target for hackers, since they’re holding your money. At the same time, you can bet that their security is top-of-the-line. Considering they’re now approved in the US by the government, they’ve got some protocols to follow.
At the same time, your own computer might be a bit more secure in some ways…and not in others.
If you choose to store it locally on your machine, a virus or malware could steal your wallet. But, at least you’re in charge of it.
In any case, if you’re a newbie—just store it on Coinbase.
Seriously, we’re in the business of buying nootropics and supplements here. We’re not moving thousands and thousands of dollars worth of BTC. It makes no sense whatsoever to go through the hassle of trying to figure it out on a local end.
Just do it with Coinbase, purchase whatever you desire, and that’s it. There’s no reason to leave much money in your Coinbase account if it’s a one-time deal.
Side note: With that said, I do think having some money in Bitcoin isn’t a bad idea. $500 might be worth $10,000 in 5 years…or nothing. Who knows. But that’s outside the scope of this Coinbase review.
Logging In and Getting Started
Once you’ve created your account and provided necessary information, this is what your dashboard should look like.
As you can see, I have a little bit of money in both Bitcoin and Ethereum (another Cryptocurrency), but not enough that it would be the end of the world if I lost it.
Perhaps as I learn more about it I’ll re-evaluate this Coinbase review, but for now, I see no need. I have enough money if I want to purchase something like Adrafinil or Modafinil on the spot. I’ve also got a little “invested” in it that may or may not pay off down the road.
As you can see, the dashboard is pretty simple. On the left hand side, you’ll see the options to buy or sell Bitcoin.
It’s really as simple as linking your bank account to Coinbase, and then you can buy and sell the currencies as you like. Note that it does take a few days to go through, hence why there is the option for “USD Wallet” (or whatever currency of the country your reside in).
This allows you to transfer money into that wallet from your bank (a few days), but then you can buy BTC instantaneously from your USD Wallet.
Make sense? I sure hope so.
Leave questions below if you have them—I mean it. I’m happy to clarify if needed.
Coinbase Review Conclusion
For us nootropics enthusiasts, Coinbase is a perfectly adequate solution. You can buy and sell enough Bitcoin to make purchases, and it doesn’t need to be any more sophisticated than that. Of course, it’s never a bad idea to expand your horizons.
However, the BTC world is a complex one. I would definitely recommend taking a Modafinil before you really want to dive into it. It really is fascinating.
To sum up this Coinbase review: 5 stars
If you are a more advanced user, I see plenty of other solid alternatives out there than Coinbase.
For beginners though, you’d be hard-pressed to find a better option to get you up and going quickly. Plus, a lot of sites will give you a discount on nootropics by paying with BTC.
In addition, Coinbase does offer a referral program. So if you and your friends are all nootropics enthusiasts, make sure to share your referral link from Coinbase (here), and you can make a little bit of cash back.
Of course, we really appreciate if you support Biology Boost—so if you don’t have any Bitcoin accounts, please consider signing up with our referral link.
It helps us keep the site online and bringing you more great content on how to boost.
If you have any Bitcoin or Coinbase questions, feel free to leave them in the comments below and I’ll get back to you ASAP.
PS: In case you missed it, the Biology Boost referral link is here.