How long does it take to transfer from coinbase wallet to metamask
What’s the difference between the Coinbase app and the Coinbase Wallet app?
The Coinbase app (available on iOS and Android) is the company’s product for individuals looking to buy or sell cryptocurrencies, also available at Coinbase.com. It is an easy, secure, regulated on-ramp to crypto using US dollars or other local fiat currencies. You can safely store crypto on Coinbase so you don’t have to worry about managing your own private keys. Coinbase.com and the mobile apps are available in more than 100 countries.
The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the decentralized web with a dapp browser. You do not need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet helps users manage their own private keys and store their crypto assets directly on their devices, not with a centralized brokerage or exchange. You cannot connect Coinbase Wallet to your bank account to buy or sell cryptocurrencies with US Dollars or other fiat currencies. You can download and use Coinbase Wallet anywhere in the world.
Coinbase Wallet is a separate, stand-alone app that allows users to store their crypto. It also lets users explore the decentralized web with a dApp browser and use applications such as Uniswap and OpenSea.
Coinbase Wallet helps users manage their private keys and store their crypto assets directly on their devices without a centralized broker or exchange, this means you can’t connect Coinbase Wallet directly to your bank account or buy and sell crypto with US dollars or fiat currencies.
Coinbase wallet is called a”self-custody mobile wallet” and web3 browser. It gives you access to a wide spectrum of decentralized innovations. You can buy and store different cryptocurrency tokens on the Ethereum network, collect digital NFTs, and browse decentralized applications at stores that accept crypto. You can send crypto to anyone in the world.
You’ll find that the Coinbase Wallet is pretty similar to MetaMask or the Trust wallet but with a slightly different set of features and functionality. You don’t need a Coinbase account to use the Coinbase Wallet. You can download and use the Coinbase Wallet from anywhere in the world. Let’s get started.
How to Import Coinbase Wallet to MetaMask
Open your Coinbase Wallet and go to the Settings page:
Click on the Recovery Phrase:
Now you see your 12 words recovery phrase, write it down in order.
Open your MetaMask and click on import using Secret Recovery Phrase:
Enter your recovery phrase, create a password and confirm it:
By typing in the recovery phrase and choosing the desired password, the Coinbase wallet successfully imports to your MetaMask wallet.
How to Transfer Assets from Coinbase Wallet to MetaMask
If you want to send assets from Coinbase Wallet to MetaMask, you need to click on Send:
Select the token that you want to send (we use BNB in this tutorial) and enter the amount, then click on Next:
Now, you should paste the recipient address, so open your MetaMask and as you are transferring a BEP20 token you should check that your receiver MetaMask wallet is on Binance Smart Chain network and then click on the Receive button, copy the BEP20 address and paste it in the recipient address on the Coinbase Wallet:
Note: If you haven’t added the BSC network to your MetaMask, check out how to add BSC to MetaMask tutorial!
Click on Send:
And that’s how you transfer assets from your Coinbase Wallet to MetaMask.
This series article is intended for general guidance and information purposes only for beginners participating in cryptocurrencies and DeFi. The contents of this article are not to be construed as legal, business, investment, or tax advice. You should consult with your advisors for all legal, business, investment, and tax implications and advice. The Defiant is not responsible for any lost funds. Please use your best judgment and practice due diligence before interacting with smart contracts.
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As one of the most popular and established cryptocurrency exchanges, Coinbase acts as an accessible way into cryptocurrency for many users. But how can these users then transfer their cryptocurrency to a MetaMask wallet?
MetaMask is an efficient crypto wallet that allows users to store cryptocurrencies in a secure ecosystem. It is one of the simplest hot wallets that can be set up easily and is best for users who trade crypto daily, while also giving them the freedom to hold their own keys, which exchanges do not.
For such users, it can be quite overwhelming to transfer cryptocurrency and store it in a secure wallet. So, here’s a guide on how to transfer cryptocurrency from Coinbase to Metamask.
How To Transfer Cryptocurrency From Coinbase To MetaMask?
To transfer from Coinbase to MetaMask, you should follow these steps.
- Log in to your Coinbase account.
- Log into your MetaMask account and click on three dots that read “buy and send”.
- Each cryptocurrency has its address, so make sure to send yours to the correct address. Eg: Make sure you’re sending Bitcoin to a Bitcoin address, and Ethereum to an Ethereum address.
- Copy the MetaMask wallet address on the clipboard.
- Paste the address into the wallet address field on Coinbase (confirm the wallet address before sending).
- Enter the amount of crypto that you wish to send. It is advised to test the feature out first by sending a small amount.
- Once done, click on the Complete button to finish the transaction.
- Your transaction may take a bit of time to process (depending upon the amount of congestion that Coinbase or MetaMask may encounter during peak hours.)
How long does it take to transfer from Coinbase to MetaMask
According to MetaMask, it’ll take up to 10-15 minutes maximum for a transfer to reflect in your MetaMask account.
How To Transfer NFT From Coinbase To MetaMask
MetaMask is extensively used as a leading crypto wallet to store NFTs
While users may explore other wallets to buy NFTs, when it comes to storing NFTs, the majority of the users prefer MetaMask to store NFTs for a longer duration.
Here’s how users can transfer NFTs from Coinbase to their MetaMask wallets:
- Go to your NFT tab in your Coinbase wallet
- Select the NFT you wish to transfer
- Click the send button.
- Paste your metamask address (ENS)
- Confirm the transaction.
Coinbase to MetaMask fee
As per the official website, Coinbase charges a nominal fee “For transactions on cryptocurrency networks (i.e., transfers of cryptocurrency off the Coinbase platform), Coinbase incurs and pays network transaction fees (e.g., miner’s fees).
The fee is usually calculated based on estimates of the network fees and varies depending on multiple factors including the selected payment method, the size of the order, and market conditions such as volatility and liquidity.
Read More: How To Withdraw Cryptocurrency From Coinbase And Transfer To Crypto Wallet
Crypto wallets are essential in the crypto world today because they store data about cryptocurrencies. Additionally, crypto wallets also allow you to send, receive, and spend digital assets.
Furthermore, digital currencies only exist on massive databases known as ledgers. However, ledgers store all records of crypto transactions that have been made. This ledger is popularly referred to as a “blockchain.”
Unlike a normal wallet, which holds actual cash, crypto wallets technically do not store cryptocurrencies; rather, they are stored on the blockchain, which can only be accessed using a private key, a sophisticated form of cryptography that allows a user to access their cryptocurrency. The chief operating officer as of now at Coinbase is Emilie Choi.
Your keys prove that you own your digital money, and they allow you to make transactions. If you lose your private keys, you lose access to your money. That is why it is crucial to keep your hardware wallet safe or use trusted wallet providers like Coinbase and Metamask wallet.
This guide takes a detailed look at how to transfer funds from Coinbase to Metamask wallet.
About Metamask wallet
Metamask is a cryptocurrency wallet that you can download on Chrome, Firefox, iOS, and Android. As a browser extension, Metamask can also work as a bridge between your regular browser and the Ethereum Blockchain.
Furthermore, the Ethereum Blockchain is a network that allows the creation of decentralized apps and other digital assets. This network allows developers to write transaction guidelines known as “smart contracts.” Nevertheless, Metamask can store private and public keys of the token wallet for Ethereum cryptocurrencies alone on the Ethereum blockchain network.
What is Coinbase?
Coinbase Global is a crypto-trading platform founded in 2012. The platform offers users the ability to buy, sell, and exchange more than 100 tradable digital assets today, such as Ethereum, Bitcoin, BNB, etc. However, Coinbase is a big company with more than 70 million users today and $255 billion in assets on the platform.
Creating an account on Coinbase
Before you can transfer from Coinbase to a Metamask wallet, you need to create an account on the Coinbase website or the Coinbase app. These steps will show you how to do it.
Step 1: Go to www.coinbase.com and click “Get Started” to create an account. Note: You will be asked for your full legal name, email address, password, and state. Coinbase will ask for proof of every piece of information you provide to them, so be ready with your proofs when you are asked to submit them.
Step 2: In the email sent to you by Coinbase Global, verify your email address. Also, you will need to sign in again using your email and password.
Step 3: Enter your phone number. Then enter the seven-digit code sent to you on your mobile phone to verify it. Then click on “submit.”
Step 4: Add your data as shown on your valid government-issued photo ID because you will need to upload a photo of this ID later. You will also be asked a few questions on the browser page; answer them, and click “Continue.”
Step 5: Verify your identity by logging into your Coinbase account browser page. Then complete the ID verification process.
Step 6: Connect your Coinbase account to a payment method. You can do this using your debit card. Also, connect your bank account so that you can purchase ETH.
Once you have accomplished these steps, it is time to purchase Ethereum. You can buy ETH on Coinbase (since you have connected your debit card with it). You can also buy ETH if you have connected your bank account to Coinbase. But it will take you 15 days for the funds to appear on your account.
Furthermore, click “Buy/Sell” and select “Ethereum.” We recommend that you buy a small amount of ETH to start with. You will also need a small amount of ETH to pay for transaction fees. Again, tap on “Preview Buy” to confirm your order and select “Buy Now” to complete the purchase of ETH. The ETH amount you want to buy would appear within 2 to 15 business days.
Setting up your MetaMask Wallet
Step 1: You need to download the plugin for MetaMask Wallet. All you need to do is to visit this site on the Chrome web. Tap “Add to Chome” to add the MetaMask extension to your browser.
Step 2: You need to activate the plugin by clicking on the MetaMask icon at the top right corner of your Chrome browser. Then accept the terms and conditions.
Step 3: Set up an account. Input your password to log in daily. Preferably, the password should be at least eight characters long. Ensure your password is not easy to guess. Once you have entered your password, click “Create.”
Step 4: You will be directed to the seed phrase, which is a list of words. These words are referred to as the “secret recovery phrase.” These random words would be used to recover your wallet if you forgot your password.
You need to write down your seed phrase on paper and keep it in a safe place where no one can access it. Never store it in your email, cloud storage, or your phone’s photo library because your phone can be hacked. If you must keep them in your email or cloud storage, ensure that they are correctly encrypted with a complex password that you can’t forget.
Step 5: Once that is done and you have confirmed your seed words are in a safe place, you can now send ETH to Meta Mask.
Transferring ETH to a MetaMask Wallet (Excluding Chrome Web Store )
The following steps will teach you how to send funds (ETH tokens) to a MetaMask wallet.
Step 1: Go to Coinbase.com and sign in with your email address and password.
Step 2: Log into your MetaMask Wallet and click on the three dots above “Buy” and “Send.”
Source: The Medium
Source: The Medium
Step 3: Click “Copy Address to Clipboard”—this is the public wallet address of your MetaMask Wallet.
Step 4: Paste the address into the Wallet Address field on Coinbase. In this field, you are instructing Coinbase where you want to send your Ethereum; hence, ensure you aren’t sending the wrong address.
Step 5: Enter the amount you want to send in your local currency or cryptocurrency. If you are sending a large amount, it is highly recommended that you send a small amount first to confirm that you are sending it to the correct hardware wallet address and not the wrong one. If you send it to another Ethereum address that is not yours, you will not be able to recover your funds. Once you are done, click “Continue” to confirm the transaction.
Chrome Web Store Source: Medium
Step 6: Your transaction will show that your crypto assets “pending.” Note that it may take some time before your transaction can be completed depending on demands on the Ethereum network. During congested periods, it may take a couple of hours. When your transaction has been completed, you will see a confirmation message on your screen.
Professional traders Source: Medium
Step 7: When you go back to MetaMask, you will see that you have received your Ethereum or any ERC -20 tokens that you have transferred.
Securing your MetaMask wallet with private keys
MetaMask will never ask you to send funds to a random wallet if you receive such a request, forward your complaint to MetaMask’s support team.
Furthermore, anytime you are not using your MetaMask wallet, make sure you check your account balance or make a transaction log out. Again, be cautious of fake pop-ups on the screen that ask you to unlock your wallet. These are likely phishing attacks.
Do not enter your log-in details or seed words on any other website. You should only input these details on the official site.
Metamask is a very crucial part of the ETH blockchain. It allows users to send funds through their Ethereum address. One of the best ways to use MetaMask is to store your cryptocurrencies.
Nonetheless, now that you can transfer funds or send funds to your Metamask wallet. I hope you will give it a try.