Want to learn how to use Coinmerce to buy and withdraw cryptocurrency to your own wallet? Then you’ve come to the right place! In this tutorial, we will explain step by step how to set up an account, how to buy and sell cryptocurrency. We start with setting up an account. This is a simple process that only takes a few minutes. Once you have done this, you can move on to buying cryptocurrency. We explain how to do this using different payment methods, such as credit card or bank transfer. Finally, we explain how to withdraw the cryptocurrency you bought into your own wallet so that you can use it whenever and wherever you want.
Table of Contents
How to create a Coinmerce account?
First, go to Coinmerce’s official website and click the “Register” button.
Then enter your name, email address and password on the registration form. Be sure to check the boxes in the Terms and Conditions and Privacy Policy before clicking ‘Register’.
How to confirm Coinmerce account?
You just received an email from Coinmerce. Go to your mailbox and open this confirmation email. Click the “Verify Now” button to confirm your email address. After you click the button, you will be redirected to Coinmerce’s website and your email address has been successfully verified.
How do I verify my Coinmerce account?
European legislation requires brokers to verify the identity of their clients. At Coinmerce, this process is quick and easy. Once your email address is confirmed, you can verify your identity immediately. If you want to check out the platform first before verifying your identity, you can always come back later to do so.
To verify your identity and bank account, go to the ‘Account Level’ tab and then click ‘Complete Profile’. Fill in all relevant information and select ‘Continue’. You will now be asked to provide a copy of your ID and a 1 cent wire transfer to verify your identity.
How to activate two-factor authentication - 2FA on Coinmerce?
It is recommended that you make your account extra secure by using two-factor authentication (2FA). This reduces the chances of someone gaining unauthorized access to your account. Go to your account settings and activate 2FA to make your account even more secure.
To enable your 2FA security, go to the menu in your Coinmerce account and click on ‘Security’. You will now see two buttons next to 2FA: ‘Off’ and ‘On’. Select ‘On’ to enable 2FA and further secure your account.
If you click “On” to enable 2FA, a new window will open. Click the link or scan the QR code to place the secret key in your 2FA app. After you add the secret key, you will receive a response code. Enter this code into Coinmerce to complete enabling 2FA.
How to put fiat money in your Coinmerce account?
Your Coinmerce account is now verified, you have 2FA activated for extra security and you can deposit money. We recommend IDEAL because the money is deposited directly into your account. If you choose SEPA bank transfer, it can take up to 2 business days for the money to reach your account. Please note that you can only deposit money from a bank account in your name.
Depositing money is as follows:
- Go to ‘Wallets’ and add Coinmerce coins.
- Click on the three dots next to the Coinmerce coin and then select ‘Buy’.
- Each Coinmerce coin is always worth 1 euro and provides a shortened buying process.
- Select the desired amount and choose the desired payment method to deposit funds.
Now check the total amount. Please note that transaction fees are already included. Depending on your payment method, the amount is now in your account in the form of Coinmerce tokens. You can always view these under ‘Wallets’.
How to buy cryptocurrency with fiat on Coinmerce?
To buy cryptocurrency, go to ‘Coins’ in the menu bar and select the desired currency. Then click the ‘Buy’ button to complete the purchase
To buy cryptocurrency, follow these steps:
- Click on the crypto’s name to go to the buy and sell screen.
- Enter the desired amount and click ‘Buy’ to select a payment method.
- Choose Coinmerce tokens to buy faster and save a little on transaction fees. Of course, you can also choose another payment method.
To complete your purchase, follow these steps:
- After you select a payment method, you will get a summary with the total cost and the amount of crypto you will get.
- Check everything and click ‘Buy now’ to complete the purchase.
- Your crypto is now on ‘Wallets’ and if you want, you can withdraw your crypto.
How to withdraw cryptocurrencies at Coinmerce?
Once you have purchased cryptocurrency and you want to send it to another address, such as a hardware wallet or another exchange, you must first withdraw it. A hardware wallet is recommended if you want to hold the crypto for the longer term.
Keep in mind that you pay transaction fees for such a transaction because you are sending the crypto to another wallet. This is similar to transferring euros from one bank account to another.
To send crypto to an external wallet, follow these steps:
- Go to ‘Wallets’ and select the crypto you want to work with.
- Click on the three bullets next to the crypto and select ‘Withdraw’.
- Enter the desired amount you want to withdraw and click the blue button to continue.
- Enter the address of your external wallet.
- You will now be taken to an overview where you can see all the information about your withdrawal, including the cost. Click Confirm withdrawal to confirm the withdrawal.
The waiting time depends on several factors, such as the payment method you choose and the amount of crypto you withdraw. For example, it can take anywhere from a few minutes to several hours for the crypto to appear on your external wallet.