“How to send cryptocurrency from Coinbase” is one of the most popular Google search queries related to cryptocurrency, so we jump at the chance to give people what they want: a good old guide to transferring digital assets from one platform to another.
The process may seem complicated at first, but it’s a piece of cake as long as you have one main thing: the cryptographic address of the receiving wallet. A cryptographic address, a long string of alphanumeric characters, tells the blockchain where your digital assets should go.
The step-by-step guide below walks you through how to determine the receiving wallet address, allowing you to securely transfer your funds from Coinbase to the platform of your choice.
How to send crypto from Coinbase
As mentioned, the first step in sending crypto is to specify the address of the receiving wallet. All crypto platforms have different user interfaces, however, most of them will have a “Receive” or “Deposit” button that reveals the address. Others, like MetaMask and the new GameStop wallet, have the crypto address front and center on the user interface at all times, ready to be copied.
In this tutorial, we will be using MetaMask, the world’s most popular 3.0 web wallet, as a receiving wallet so you can understand how to send cryptocurrencies.
1. Find and copy the crypto address of the receiving wallet. In MetaMask, you can find it under the name of the account. On Coinbase Wallet (a digital wallet app that is different from crypto exchange Coinbase), you can find it by clicking Receive.
2. Log in to Coinbase and tap “Send Receive.”
3. In the To field, paste the copied cipher address.
4. Under Pay With, click the asset you want to send.
5. Add the dollar amount you want to transfer from Coinbase.
6. You can leave the note field blank, but for what it’s worth, you can use it as a way to leave a public message on the blockchain about your transaction.
7. Press “Continue in. A confirmation window will appear telling you how much the recipient will receive after Coinbase and network fees. If you agree with what you see, click “send now.”
Now you have to wait for the encryption to reach the recipient’s wallet. Don’t worry if it doesn’t come right away. Some networks are loaned more than others. For example, if you send Solana, you will likely get it in a matter of seconds. On the other hand, Ethereum can take up to several hours during times of rush and congestion.
Precautions to Take When Sending Crypto from Coinbase
There are several precautions you should take when sending crypto from Coinbase. The most important thing is to make sure that you are sending it to the correct network. For example, you cannot send Bitcoin to MetaMask; The original MetaMask does not support BTC.
To give you another example, if you are sending USDC (stable currency) to KuCoin (a crypto exchange), you may be tempted to use a network called KCC because it is cheaper, but unfortunately you can Just Use ERC-20 (Ethereum-based network) if sending from Coinbase. Fortunately, an error message usually appears if you try to send a digital asset to the wrong network. Thus, you do not lose your money.
Finally, watch out for the fees! The Ethereum network is notorious for its targeted gas fees. Send Ethereum on Sunday evening (or in the early hours of Monday morning) – fees are often lower during this time and you may be processed faster.