How to buy ERC 20 tokens through Coinbase Pro App is one of the highly renowned crypto exchanges where millions of transactions take place every day. On this exchange, one can buy and sell multiple supported crypto assets using the fiat currency as well as other crypto assets. However, there are some tokens that cannot be purchased through fiat currencies and with every cryptocurrency. And today we going to talk about one such currency i.e. ERC 20 crypto tokens that can only be purchased through ETH tokens. This means, that first, you need to purchase ETH through your Coinbase Pro app account, and then you can go ahead with purchasing ERC 20 tokens.
But, before you start the procedure, make sure you have access to a self-custody wallet. If you believe you have one with you, then you can start the procedure right away. Please note that this procedure can only be implied by U.S. residents.
So, here we are going to list all the necessary steps required to carry out this task. Please make sure that you do not miss out on any important step, else you will not be able to purchase ERC 20 tokens successfully.
The process to buy ERC 20 tokens Uphold Wallet
To initiate the process, please download the Uphold Wallet
Now, set up your wallet and choose a username along the process
When provided with the recovery phrase, please save it securely
Remember not to share this recovery phrase and make several copies of it
Then, go through the network fee structure you'll be charged for buying ETH
Now, using your Uphold Wallet account, you can go ahead with buying some ETH
When you own some ETH, you can start the process to buy ERC 20
To do so, you can click on the "Trade" icon followed by selecting the "Trade" tab
Select the "Uphold Wallet" option and then select the ERC20 token
Enter the amount of ETH you want to exchange for buying this token
Post this, you just need to follow some on-screen instructions to finally confirm the transaction.
Although the process to buy ERC20 tokens is not straightforward, upon following some easy steps as explained above, you will be able to get these tokens into your account. Coinbase Pro App Please make sure you keep enough ETH funds aside to pay the transaction fee. Along with that, you need to be ready with a Uphold Wallet account and a wallet to get started with the process.