How to transfer funds between Coinbase wallet and Coinbase?

Comments · 733 Views

If you are using Coinbase exchange alongside Coinbase wallet, then transferring funds between the two platforms is not a hurdle.

However, there are some pre-conditions for initiating the transfers and you must know about them if you are planning to carry out any such task. Before you initiate the process, please understand that these transfers do not take place instantly which means you have to be patient once you complete the process.

Meanwhile, if you are sending funds, make sure that you do not send the complete amount that is available in your account. This is because you have to keep some funds in reserve in order to pay for the gas fees. For example, if you are planning to send ERC-20 tokens from your Coinbase wallet, having some ETH in reserve is a must.

In case you do not wish to carry out the process manually, then you can also link your Coinbase account and the wallet together. So, if you have understood all these aspects carefully, then you can start applying the steps given below to initiate funds transfers.

Linking Coinbase wallet and Coinbase accounts 

The procedure to link the two is pretty easy if you know what you are supposed to do. To achieve the same, you can follow the guidelines given below:

  1. Begin the procedure by opening the Coinbase wallet and signing into it
  2. Once you are in, select the "Settings" icon present at the bottom of the screen
  3. Now, find and select the "Connect to Coinbase" option
  4. Complete the remaining prompts to verify the connectivity
  5. When asked, sign in to your Coinbase account

Please note: Only the available balance in your Coinbase account would be eligible for transfer. In case you have some funds in the "On Hold" category, you would not be allowed to transfer them.

With that being said, let us now shift our focus toward learning how to initiate the fund transfer from a Coinbase wallet to a Coinbase exchange account.

Steps to transfer funds from the wallet to the coinbase account 

Whether you are using Coinbase wallet on your mobile device or using it through its desktop extension, the steps that you need to follow will remain almost similar. Here is what you are supposed to do:

  1. Open the Coinbase wallet app or the extension on your device
  2. Now, sign into your wallet account if you have not already done that
  3. Look for the "Send" option and select it
  4. After that, type the amount that you wish to transfer
  5. Then, choose one of the supported coins that you wish to send and choose "Next"
  6. Followed by this, enter the address to which you wish to send
  7. And then, select the "Coinbase" option
  8. Initiate the transfer by following some easy on-screen prompts

If you have enabled 2FA, you will be asked for the verification code to complete the transfer. So, be ready for that. 

Conclusion:

As you can see, the transfer of funds from Coinbase wallet to Coinbase is a pretty easy process. If you follow the given procedure carefully, you will be able to complete the process without any hassle. Meanwhile, if you are facing any kind of trouble while doing so, get in touch with the Coinbase customer service team. 

 

Comments