“How to send cryptocurrency from Coinbase” is one of the most popular cryptocurrency-related Google search queries, so we are taking the opportunity to give people what they want: a good manual on how to move digital assets from one platform to another. other.
The process may seem complicated at first, but it is very simple as long as you have one key component: the crypto receiving wallet address. A cryptographic address, a long alphanumeric string of characters, tells the blockchain where your digital assets should go.
The following step-by-step guide tells you how to find out the receiving wallet address, allowing you to securely transfer your funds from Coinbase to your desired platform.
How to send crypto from Coinbase
As mentioned, the first step in sending crypto is determining the receiving wallet address. All crypto platforms have different user interfaces, however most will have a “receive” or “deposit” button that reveals the address. Others, like metamask and the new GameStop Wallethave the crypto address front and center in the user interface at all times, ready to be copied.
For this tutorial, we will use MetaMask, the most popular in the world. Web 3.0 wallet, such as the receiving wallet so you can get a general idea of how sending crypto works.
1. Take the crypto address of the receiving wallet and copy it. In MetaMask, you can find it under the account name. In Coinbase Wallet (a digital wallet app that is different from Coinbase’s cryptocurrency exchange platform), you can find it by clicking “Receive”.
2. Sign in to Coinbase and tap “Send receive.”
3. In the “To” field, paste the copied crypto address.
4. Under “Pay with”, click the asset you want to send.
5. Enter the dollar amount you want to transfer out of Coinbase.
6. You can leave the note field blank, but for what it’s worth, you can use this as a way to leave a public message on the blockchain regarding your transaction.
7. Press “Continue.” A confirmation window will appear telling you how much the receiver will get after Coinbase and network fees. If you agree with what you see, click “Send now.”
Now, you need to wait for the cryptocurrency to arrive in the recipient’s wallet. Don’t be alarmed if it doesn’t arrive right away. Some networks are slower than others. For example, if you are sending Solariumyou’ll likely get it in seconds. Etherealon the other hand, it could take several hours during busy and congested periods.
Precautions to take when sending crypto from Coinbase
There are several precautions you need to take when sending crypto from Coinbase. The most important is to make sure you are sending it on the correct network. For example, you can’t send Bitcoin to MetaMask; MetaMask does not support native BTC.
To give you another example, if you’re sending USDC (a stablecoin) to KuCoin (a crypto exchange), you might be tempted to use a network called KCC because it’s cheaper, but unfortunately, you can only use ERC-20 (an Ethereum-based network) if sending from Coinbase. Fortunately, you will usually get an error message if you try to send a digital asset to the wrong network. As such, you will not lose your funds.
Lastly, watch out for fees! The Ethereum network is known for its expensive gas fees. Send Ethereum on Sunday nights (or early Monday morning) – fees are typically lower during this time and your transaction can go through faster.