All experienced crypto traders know that sending crypto to a wallet that doesn’t support that crypto can cause you to lose the asset. If you are new to Coinbase, the question “can I send Bitcoin to Coinbase” will come naturally to you. Here we will explain all about sending and receiving crypto through Coinbase and what currencies are supported.
Coinbase.com and Coinbase wallet support Bitcoin, meaning you can send and receive Bitcoin on your Coinbase account and wallet. You can link your Coinbase Wallet and account and send funds between them at any time.
But linking your Coinbase wallet to your account is not the only way you can send and receive cryptocurrencies. Keep reading and find out more.
Can I Send Bitcoin to Coinbase?
As we already answered, Bitcoin is among the supported cryptocurrencies on Coinbase, which means you can send your Bitcoin to Coinbase.You can send and receive crypto both on the mobile app and the web, and you can use your own crypto wallet or Coinbase wallet or Coinbase hosted wallet (hosted wallets are provided for you through an app). This means you will get one once you sign up and open a Coinbase account. You can also send Bitcoin from one exchange to another. Here is how to send Bitcoin from Binance to Coinbase:
- Open a Coinbase account and go to the option “send/receive,”
- Choose “receive” and pick Bitcoin,
- You will get a unique address for that Bitcoin,
- Copy the address of the Bitcoin,
- Go on Binance and click on “Fiat and Spot” and tap on “Withdraw,”
- Here you will have to select the coin you wish to transfer,
- Paste the Bitcoin address you got from Coinbase,
- Choose to send Bitcoin through the cryptocurrency’s native blockchain,
- Input the amount and click finish.
Transfer Crypto From Your Coinbase Wallet to Your Coinbase Account
You can easily transfer Bitcoin from your Coinbase wallet to an account. You can do this by linking your Coinbase wallet to an app and vice versa. Here is how to do it:
From Coinbase account to Coinbase Wallet:
- Open Coinbase wallet and go on settings,
- Tap Buy/transfer,
- Select Bitcoin and enter the amount,
- Tap Continue, and follow the instructions.
Here is how to transfer from your Coinbase wallet to your account:
- Open Coinbase wallet,
- Tap “send” and enter the amount,
- Select the coin,
- Enter the address of your Coinbase account,
- Click Next and follow the instructions.
How to Send/Receive Bitcoin on Coinbase?
You can use your wallets that are connected to Coinbase to send and receive funds. If you are sending to a Coinbase user who has instant send, the transfer will be done off-chain and will not be charged any transaction fees. If not, you will be charged a small amount for each transaction. Here is how to send and receive Bitcoin using the web or the mobile app.
|Go on the dashboard and click send/receive||Go on a dashboard on Pay option||Tap on send on Home page||Go on the home page, and tap receive|
|Tap on send||Select receive||Choose Bitcoin and enter the amount||Select the asset, Bitcoin|
|Enter the Bitcoin address, phone number or e-mail address||Select Bitcoin||Click continue||The address will generate copy the address|
|Click on pay with and choose the Bitcoin||You will get QR code, and address||Enter the recipient information QR code or address|
|Click continue and send now||Tap preview send|
How to Withdraw Cryptocurrency From Coinbase to Another Wallet?
Now that you know how to send Bitcoin to Coinbase, it is time to learn how to withdraw crypto from Coinbase and send it to another wallet or exchange. To do that, you will need to have the address where you are planning to send it. Here are the steps to take:
- Go on the Coinbase Pro app and click on the trading view,
- Open the left column under Wallet balance and click on Withdraw option,
- In the currency type, click Bitcoin,
- Under the “To” field, select the address you want to send crypto,
- Enter the amount you want to send and click withdraw.
You can also send crypto from your existing wallet to Coinbase Pro. Go on Wallet balance and click on the deposit button. Select the currency you want to deposit and copy the account address you will be presented by Coinbase. Go to your wallet and enter this address and select the currency you wish to send (in this case, Bitcoin).
Can I Send Bitcoin From My Hardware Wallet to Coinbase?
The answer is yes. You can send Bitcoin from hardware wallets such as Ledger or Trezor to your Coinbase wallet. All you have to do is open your hardware wallet, choose Bitcoin, and paste the Bitcoin address of your Coinbase wallet in the address section. Once you send currency to your Coinbase wallet, you can then transfer these funds to your account and trade with them.
As you can see, Coinbase offers plenty of options to send and receive cryptocurrency. All you need to do is make sure all the addresses you enter are good and that the currency you are sending is supported by Coinbase. Also, note that you can only send the amount of currency that is on your balance. Another thing to note if you wish to transfer ERC 20 using Coinbase is to have ETH on your balance to pay the gas fee. Otherwise, you will not be able to submit the transaction.