Guide for US Users: How to purchase USDC on Coinbase and deposit to your Pillow account
Step 1: Sign-up for Coinbase
- Visit the Coinbase webpage from a desktop browser of your choice. Click on [Get Started].
- You’ll be asked for the following information. Enter accurate, up-to-date information to avoid any issues.
– Legal full name
– Email address (use one that you have access to)
– Your State
- You will be prompted to add a phone number. SMS verification will be done by Coinbase through a seven-digit code.
Step 2: Identity Verification
- You will need to provide personal information similar to that in your government-issued photo ID:
– Driver’s License
– Identification Card
Step 3: Linking Bank Account
- Visit the Payment Methods in your Coinbase Account and select [Add a payment method].
- You can use any of the following methods to transfer US Dollars to your Coinbase wallet:
– Adding Bank Account
– Debit Card
– Apple Pay
– Bank Wire
Step 4: Buying USDC
- After successfully depositing US Dollars into your Coinbase wallet, navigate to Portfolios.
- From the list of assets shown in a table locate “United States Dollar” and then click on “Convert to USDC”.
- Now enter the amount of dollars you want to convert to “USDC” and then click [Convert]. There are no transaction fees!
- Coinbase offers converting USD to USDC for free because Coinbase is one of the founders of USDC.
Note: The USDC crypto funds that you purchase won’t be immediately available to withdraw from Coinbase. You will be able to withdraw your crypto funds normally after 7–9 days from the day of your purchase.
Step 5: Withdrawing USDC
- In order to transfer USDC cryptocurrency from your Coinbase wallet to Pillow wallet, visit pro.coinbase.com/trade
- On the left-hand column under [Wallet Balance], select the [Withdraw] option.
- Select the USDC cryptocurrency and under the [To] field specify the Pillow wallet address.
- Enter the amount you would like to send, then click [Withdraw]. Once the email confirmation is verified, the withdrawal is confirmed. The balance is deducted from the Coinbase wallet and the tokens will be sent to your Pillow address. Voila!