Can you send shiba inu from trust wallet to coinbase

To send/ Transfer crypto from Trust Wallet to Coinbase, you need to copy the crypto’s asset address from Coinbase.

Then, paste it into the Trust Wallet.

Enter the amount of crypto that you want to send.

Lastly, confirm the transaction.

Steps to Send/ Transfer Crypto from Trust Wallet to Coinbase

1. Launch your Coinbase Application

Open your Coinbase mobile application.

In case you have not installed it yet, you can download it here: Android and iOS.

Now, launch your application and type in your credentials to get signed in.

2. Tap on Receive and Copy the Address

After opening the Coinbase application, you will be able to see multiple options such as Buy, Sell, Send, Convert, and Receive.

Tap on Receive.

Now, you need to select the crypto that you want to receive.

Tap on the Asset box and select the crypto.

You will be able to see the address along with the QR code.

Tap on Copy.

Send/ Transfer Crypto from Trust Wallet to Coinbase

If you want to share that address, you need to tap on Share address.

3. Launch your Trust Wallet Application

Open your Trust Wallet application.

You could see multiple options such as Send, Receive, Buy, and Swap.

Tap on Send.

4. Select the Crypto Asset

Now, you could see the crypto that you wish to send.

Tap on it.

5. Paste the Coinbase Address

You will be able on the Send page.

Paste the Coinbase address that you have copied in Step 2.

Enter the amount.

If you want to send all, tap on MAX.

Lastly, tap on Continue.

Transfer Crypto from Trust Wallet to Coinbase

6. Tap on Confirm

After tapping on Continue, you will land on the Transfer page.

There you will be able to the To address and the network fee.

Review it and tap on Confirm.

7. Check your Coinbase Account

After a few minutes, you can head back to your Coinbase application and check your balance or recent transactions.

Usually, the transfer of crypto from Trust Wallet to Coinbase takes up to 5 minutes.

In case there is any congestion on the blockchain, it may take up to 12-24 hours.

To check the recent transactions, select the crypto on the “Assets” page.

Just below the chart, you could see the currency name. Tap on it.

Send Crypto from Trust Wallet to Coinbase

Now, you will be able to see the recent transactions.

Conclusion

That’s it. You have successfully transferred your crypto from Trust Wallet to Coinbase.

Transferring crypto from Trust Wallet to Coinbase is a simple task.

Always ensure to send the pure crypto to Coinbase.

Because Trust Wallet contains both the pure cryptocurrencies and the Binance-pegged cryptocurrencies.

For example, you need to send ETH (ERC-20) to Coinbase; not the Binance-peg Ethereum (BEP-20).

If you send any Binance-pegged cryptocurrencies to Coinbase, that will result in permanent loss of your crypto.

FAQ

1. I haven’t received my crypto on my Coinbase account/ Coinbase wallet?

You will not receive your crypto on your Coinbase account/ Coinbase wallet if you have sent the Binance-peg cryptos (BEP-20). Coinbase and its wallet don’t support the BEP-20 standards currently. Because BEP-20 tokens are on a separate network.

If you have sent BEP20 tokens to Coinbase or other exchanges that don’t support it, you lost your cryptocurrency. Nobody, even the Trust Wallet team cannot recover it.

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Fees You Can Trust. Trust Wallet & Binance Smart Chain’s Fee Structure...

Alex Lielacher

Published on 17 Nov 2020

Fees play an essential role in the crypto ecosystem as they make up a large proportion of the industry’s company revenues. Crypto exchanges, wallet providers, payment services typically all charge fees to generate revenues.

In this guide, you will learn about the comparatively low fees charged by Trust Wallet and Binance Smart Chain (BSC).

Why Fees Matter

While it may sound obvious, it doesn’t hurt to reiterate why fees matter for crypto users.

It’s simple: the more fees you pay, the lower your returns will be.

  • If you actively trade crypto (without trading discounts), your trading revenues will be affected by trading fees and exchange withdrawal fees.

  • If you regularly spend digital currency on everyday purchases, wallet fees and crypto payment provider fees will increase your transaction costs.

  • If you cash out crypto for fiat currency, you will pay exchange transaction fees that will affect the final amount of cash you will receive.

Fees keep the crypto industry going and are, therefore, a necessity. But high fees are harmful to users and hinder mass adoption.

Fortunately, there are service providers and crypto networks focused on delivering the best possible user experience at the lowest possible fees. Two examples of that would be Trust Wallet and the recently launched Binance Smart Chain (BSC).

What Fees Does Trust Wallet Charge?

Trust Wallet is a market-leading multi-cryptocurrency wallet that enables 5+ million users to securely store dozens of digital assets, interact with Web 3.0 applications via a DApp Browser, and make in-app crypto purchases.

Despite offering such an extensive array of services, Trust Wallet does not charge any wallet fees.

No Wallet Fees

Crypto wallets typically charge a small fee every time you make a transaction. If you are using Trust Wallet, you will not be charged anything for using the wallet.

No Swapping or DApp Fees

Additionally, Trust Wallet does not charge any additional fees for swapping one crypto for another on the in-app DEX or when a user utilizes the DApp Browser to interact with decentralized applications.

Blockchain Network Fees

However, that does not mean using crypto within Trust Wallet is entirely free because cryptocurrencies incur blockchain transaction fees that are paid to the miners (or validators).

Fees vary greatly from blockchain to blockchain.

For example, during times of heightened usage of the Bitcoin blockchain — as we are currently experiencing as a result of the ongoing bull market — transaction fees can be as high as $5 to $10, especially for small transactions.

The same goes for the Ethereum blockchain, which experienced an unprecedented level of usage during the yield farming boom this summer. At some point, Ethereum “gas” fees exceed $10 per transaction, making the network effectively unusable for users in many parts of the world.

So if you are using Trust Wallet to make a payment with bitcoin, interact with an Ethereum DApp, or send a CryptoKitty to a friend, you will incur (unavoidable) network fees.

The good news is that Trust Wallet allows you to set your own network fees for Bitcoin and Ethereum. So for urgent transactions, you can set a higher network fee and for less urgent transactions a lower fee.

Crypto Purchase Fees

Trust Wallet also allows users to buy digital currency using the wallet’s in-app purchase option that connects directly to third-party fiat-to-crypto onramps, MoonPay and Simplex.

For example, to buy bitcoin using Trust Wallet, you access your bitcoin wallet and click the ‘Buy’ button on the top right of the app.

Next, you type in the amount of bitcoin you want to buy (in fiat currency). At this point, the app will choose a suitable third-party provider for the transaction.

When you click ‘Next,’ a web browser will open where you will find the third-party’s crypto purchase service. Follow the instructions and finalize your purchase using your credit or debit card.

Regardless of whether you’re using MoonPay or Simplex to buy crypto, Trust Wallet will not charge any additional fees on top of what the third-party provider charges. While most wallets typically add a fee for credit card bitcoin purchases, Trust Wallet does not profit off its users.

Binance Smart Chain Is Winning on Speed & Fees

Binance Smart Chain (BSC) is a recently launched parallel blockchain to Binance Chain that allows for the seamless creation and interaction with decentralized applications.

As an EVM-compatible blockchain, its primary goal is to provide a much-needed alternative to the increasingly slow and expensive Ethereum blockchain for the burgeoning DeFi market.

Transactions on Binance Smart Chain are processed within seconds (thanks to 5-second block times), while transaction fees are typically in the $0.01 to $0.03 range, making it one of the most competitive smart contract networks in the market.

The reason why BSC’s transaction fees are so much lower than on the Bitcoin and Ethereum networks is because of the consensus mechanism it deploys.

Bitcoin (and Ethereum still) utilize a Proof-of-Work (PoW) consensus protocol that involves miners deploying computing power to solve mathematical equations to secure the network and process transactions.

To maximize transaction fee returns, miners are incentivized to validate transactions with high fees first which creates a scenario where fees start to increase as blockchain usage increases. In some cases, transactions with fees that are too low end up stuck in the mempool for days or are canceled automatically after a period of time.

Conversely, Binance Smart Chain deploys a Proof of Staked Authority (PoSA) consensus mechanism, which involves a system of 21 validators that validate blocks and process transactions. As a result, BSC can achieve much higher transaction speeds at a much lower cost per transaction.

In light of BSC’s low transaction fees, it is not surprising that several DeFi protocols have already launched on BSC while others are considered a move over to the new chain from Ethereum.

The BSC “Fee Holiday”

In addition to Binance Smart Chain’s ultra-low fees, Binance has decided to provide a “fee holiday” for promising projects in the BSC Accelerator Fund.

As part of its newly-launched BUIDL Reward Program for developers building decentralized applications on Binance Smart Chain, the leading crypto company has committed $5 million worth of BNB to the rewards program.

The rewards will be distributed in the form of transaction fee rebates for eligible smart contracts deployed on the BSC network.

The Takeaway

Trust Wallet stands out among its peers because of its zero-fee model that empowers users to reap the full rewards of using cryptocurrency and blockchain applications.

What’s more, Binance is taking a very active approach to ensuring that fees will not hamper the development of a burgeoning DApp ecosystem on its newly launched Binance Smart Chain.

Written by Jane