Homework-Task 5 given by@youhan2on ||answered by@suboohi
Hi steemains, hope you all are good and enjoying your lives. Today I'm inviting you to review my homework for task5 by@youhan2on
Homework task:
The following is a list of some of the DeFi wallets; Select one and explain how to use it.
Meta Mask
MyEther wallet
Coinbase wallet
Argent wallet
ANSWER TO THE TASK :
COINBASE :
It is a good and secure platform based in USA, that makes its user to sell, buy and store cryptocurrency like Bitcoin, Ethereum, and more.
Coinbase exchange is good and very sacure and the coinbase wallet pride itself that has never been hacked.
While users have the permit to deposit or withdraw bitcoin from their accounts, but they don't have access to the private keys of cryptocurrency held on the exchange.
COIN BASE WALLET App:
The Coinbase mobile wallet offers for both iOS and Android users, it allows you to access your Coinbase account to receive, sends, buy, and sell bitcoin.
Mobile wallets are "light" so the user in that they couldn't store a full copy of the blockchain.
HOW TO USE COINBASE WALLET :
1. Create your account:
First you go to the web site https://www.coinbase.com from a browser on your computer, or download and open the Coinbase app to get started.
I downloaded coinbase wallet from play store
After opening the page they asked for the following information.
Legal full name
Email address (use one that you have access to)
Password (keep it safe at other places)
Carefully read the User Agreement and Privacy Policy. Click the accept or sign up if you agree
A verification code will be send by app to registered your email address.
2. Verify your email:
First Select the Verify Email Address in the email that you received from Coinbase.com and you get email from [email protected].
When you Click the link in then you will back to Coinbase.com.
Now sign in again by using the email and password that you have entered to complete the email verification process.
Now take your smartphone and phone number associated with your Coinbase account in order to complete 2-step verification.
3. phone number verification :
Third step to sign in to Coinbase, to add a phone number.
First Select your country and then enter the mobile number.
Click or tap Continue (mobile).or send code(computer)
Coinbase texted a 7digits code to your phone number entered it on file.
NowvClickor tap Continue.
Select Resend-SMS if you did not get message.
4. personal information:
Now enter the information present on your valid government-issued photo ID
Submit a IDphoto later.
First Name
Last Name
Date of Birth
Address
They also asked to answer the following questions:
What do you use Coinbase for?
What is your source of funds?
Current Occupation
Employer
Last 4 digits of SSN
Now select Continue that finish the verification process and also complete the application process.
Coinbase wallet will send you further instructions through email so You can learn about how we use your information in our Privacy Policy.
you will send and receive emails through Coinbase.com,to buy and sell crypto, the next step to verify your identity and add a bank account.
5. Verify your identity:
Then verify your identity on app and click
sign in will enter you to your Coinbase account.
It is recommended that for complete ID verification, set up a 2-step verification app (TOTP) to protect you against unauthorized account access.
6. Link a Payment Method:
Select your country below to learn which payment methods are available in your country.
You can visit also supported.
please visit Supported Countries page for coinbase wallet to get more information about
all the services available.
They provide information separately for different countries.
The given screen shot showing all above steps.
Now your Coinbase wallet is ready for mining. Sign up the wallet, First give your identity to find your account.
After getting your account check market and place order which you want either buy or sell.
