Find out everything you need to know about transfers from Coinbase to Coinbase’s Wallet.
Things to know to get the most out of this guide:
- How to transfer from Coinbase to its Wallet
- Tips for lower transfer fees
- Transfer times and how it can impact your transactions
Things to know before commenting on this guide:
- You must have a Coinbase account
If you own crypto, making a transfer from Coinbase might be necessary at some point. Coinbase is among the most popular players in the cryptocurrency market.
Noted for its exchange platform, Coinbase offers an online storage wallet, which is frequently described as a “hot wallet” within the crypto world. For asset owners, the storage of their tokens is a key factor in the security of their respective investments.
By storing crypto on its inhouse wallet, Coinbase ensures that you only have one account and that you don’t have to worry about your tokens. However, how do you transfer your crypto from Coinbase to its wallet? How do you transfer from Coinbase wallet to Coinbase?
For transferring from Coinbase wallet to Coinbase exchange, or from your Coinbase account to a Coinbase wallet, start with the terms and conditions of Coinbase, and follow the precise instructions listed here by our team of experts.
What is Coinbase?
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
Unquestionably, Coinbase is among the top crypto exchanges with notoriety.
Founded in 2012, it’s been highly renowned among cryptocurrency investors, having enabled Bitcoin’s (BTC) popularity at the beginning of its existence. With a million users in less than two years, Coinbase continued expanding its offering for buying or selling crypto.
It’s the first crypto platform to make it through the doors of the stock exchange and Nasdaq 100. Coinbase still aims to be a pioneer regarding public access to digital investments.
What Is the Coinbase Wallet?
We’ve just cited the options Coinbase offers for buying, trading or selling crypto. Naturally, the creation of a “hot wallet” is a key step in this direction.
Ideal for crypto storage, the Coinbase wallet works through a Google Chrome extension or directly from a mobile device. Being free to access, it stands out from several hot and cold wallets out there. Roughly speaking, the Coinbase wallet, like the others available on the market, creates a secure account to store all of your crypto assets in.
Among its strongest points is the option of linking several wallets, especially when making your first transfer. The wallet is easy to use on Coinbase, and the procedure is covered below.
How to Transfer From Coinbase Wallet to Coinbase
Transferring your cryptocurrencies from the Coinbase wallet to the Coinbase platform is essential in managing your digital assets. Whether you want to sell crypto, exchange them for currencies, or secure them on Coinbase, this guide breaks down the wallet to Coinbase transfer.
Step 1 – Open your wallet app
Access your digital assets by opening the Coinbase Wallet app on your mobile device. Make sure you are logged into your account. This is crucial to initiate any transfer to Coinbase wallet.
Step 2 – Select the crypto you want to send
Once in the app, navigate the list of cryptocurrencies you hold. Select the specific currency you want to transfer to Coinbase. Specify the amount that you want transferred from your Coinbase wallet to Coinbase.
Step 3 – Click “Send”
After selecting your cryptocurrency, you will see the “Send” option. Click on it to begin the process of transferring Coinbase assets from Coinbase wallet. Here, you’ll be asked to enter the recipient’s address, which in this case will be your Coinbase account.
Step 4—Enter your Coinbase account address
To transfer from a wallet, you must enter the receiving address of your Coinbase account. You can find it in the Coinbase app by navigating to the “Receive” section of the cryptocurrency you’re transferring. Make sure to use the correct address to avoid losing your funds.
Step 5—Confirm your transfer and fees
Before finalizing the transfer, carefully review the details, including the fees for the Coinbase to Coinbase wallet transfer. These may vary depending on the blockchain network used and network congestion at the time of transfer. Once everything looks good, confirm the transfer.
Step 6 – Verification and conclusion
After confirming the transfer, the process is usually instantaneous, but may take a little time depending on the network. Check your Coinbase account to ensure that the funds have been received. This last step successfully concludes the Coinbase wallet to Coinbase transfer.
By following these simple steps, you can securely transfer your cryptocurrencies from the Coinbase wallet to the Coinbase exchange, allowing you to manage your digital assets.
Here’s how to transfer from Coinbase to Coinbase wallet.
Even if the Coinbase Wallet is part of the same ecosystem as that of Coinbase, it is not always easy to transfer funds in order to store them in the wallet provided for this purpose. Don’t panic, we’ll guide you through the steps of sending your crypto from Coinbase to the wallet.
Coinbase
- Fast transactions
- Popular Crypto App
- Autonomous management
Coinbase
Step 1—Download Coinbase Wallet
Coinbase Wallet is a hot wallet, making it available online for easy access to your assets. There are two ways to own the Coinbase Wallet app. Both are free:
- From a mobile device compatible with the Android or iOS operating system
- From the Google Chrome extension via its Internet browser
Step 2—Receiving the security key
Once installed, open the Coinbase app or extension. The wallet will generate your 12-word recovery phrase, which gives you access to your security and private keys, storing all of your crypto assets. Anyone in possession of this recovery phrase will be able to access your assets.
Step 3—Establish the second security protocol
Still when securing the wallet, you’ll be asked to choose a second authentication method. From your mobile application, you can choose to create a password or use your phone’s biometric security. That includes the option of using fingerprint or facial recognition. Once selected, you will also have to accept the general conditions of service.
Step 4—Select your username
This allows you to establish your username, which will be impossible to change once the action has been carried out. However, it is possible to skip this step when setting up the wallet.
If you want to take advantage of all the services, we advise you to establish a username using the Ethereum Name Service (ENS) embedded in the Coinbase wallet. This name is the equivalent of a Web3.0 address and will allow you to receive crypto.
Step 5—Add crypto to your wallet
The step is fundamental but it is probably the simplest. On the home page, click “add” to import assets held on Coinbase using the Pay feature. At this moment, you’ll be able to link your Coinbase account to the wallet of the same ecosystem.
If you wish to transfer your assets held in another wallet, the procedure is just as simple. To do so, you’ll need to use the selected ENS address or your user name.
Step 6—Take advantage of your Coinbase Wallet features
Once these steps are completed and your first assets stored, you’ll be able to access them whenever you want and take advantage of the features of Coinbase’s wallet. It’s now possible to explore Web3.0, collect NFTs or participate in DeFi.
How to transfer from Coinbase to Coinbase wallet without fees
First of all, you should know that the majority of hot storage wallets, and therefore online wallets, are accessible free of charge. This is unlike cold wallets that require the purchase of a case.
Coinbase and its Wallet are no exception to the rule and therefore offer free access to the official Google Chrome application and extension. In addition, registering the wallet is free as it is on the parent exchange platform, Coinbase.
However, Coinbase Wallet charges fees like all of its competitors in the market.
Please note, however, that you should not confuse the mandatory fees on the Coinbase exchange with the Coinbase wallet.
The two are distinct on this subject as well as in their operation, and this is why Coinbase offers the transfer of your assets to its online wallet. Network and transfer fees are common in the cryptocurrency world, and to date, Coinbase’s wallet takes a flat fee of 1% of the amount transferred for each transfer made.
Depending on the use of certain features, the fees vary between 1.49% to 3.99%.
Fees cover sending, buying or receiving crypto from your wallet. Generally, the fees offered by Coinbase and Coinbase Wallet are higher than the average crypto platform. However, Coinbase highlights are its notoriety, experience and security.
Transfer Fees From Coinbase Wallet to Coinbase?
The fees associated with transferring from Coinbase Wallet to Coinbase differ primarily in terms of network fees, as they do not have a fixed fee imposed by Coinbase for depositing.
Instead, users factor in network fees, or gas fees, which depends on network congestion and the type of cryptocurrency being transferred. These network fees are the primary considerations, unlike transfers from Coinbase to Coinbase Wallet, where flat fees can apply.
How to reduce your transfer costs
Generally, crypto users avoid fees as much as possible. Fees can be a barrier to certain transactions. Nonetheless, there are still some simple tips to account for.
First off, each transfer should be made for a valid reason and sometimes, there is no real point in transferring a particular asset to another wallet—or to a new exchange platform. So make sure that your transfers are necessary before making one.
Now to reduce costs, ensure that you aren’t loyal to other platforms.
How to avoid Coinbase transaction fees
When you have several wallets on the same platform, transfers are free between those wallets.
It is not possible, however, to carry out a classic transfer without fees.
Your fees are expressed by your platform and depend on the exchanges or wallets selected.
What is the waiting time for a transfer from Coinbase?
Coinbase
- Regulated exchange
- An easy-to-use platform
- Free crypto training offered
Coinbase
Unlike these traditional transfers, cryptocurrency and its assets may require a slightly longer period of time for an obvious reason: security. Transactions are carried out on-chain and require network confirmation. The slightest congestion could slow down transfer times, but it generally takes a few seconds or even a few minutes to find your assets in your wallet.
Conclusion on your transfer from Coinbase
The reputation of the Coinbase platform is well established, and its Coinbase wallet is compatible for even advanced crypto users. We can, however, only advise you to use this storage wallet if you’re already a user of the Coinbase exchange. The strengths are numerous, allowing you to store a large number of assets securely.
When it comes to transferring assets from Coinbase to the Coinbase wallet, the procedure is simple. As for its highlights, security made the platform famous, but among its negative points, we will note the inability to access the wallet if you don’t have your phone or a web extension.
If you’re looking for an alternative to online wallets from platforms like Coinbase, there’s also the option of storing cryptocurrencies in physical form.
Such is the case with the French company Ledger, which offers a range of physical wallets providing a high level of security. These devices, called “hardware wallets”, allow you to store your assets securely offline, limiting the risks of hacks and theft.
