How long does it take to transfer money from coinbase to metamask

To buy ETH, first you will need to set up a Coinbase account. Having launched in June 2012, Coinbase has built its reputation as one the most trusted and secure crypto exchanges in the world. With over 89 million registered users, you can trust that you’re not alone when you choose Coinbase as your preferred crypto exchange.

To set up your Coinbase account, follow these steps below:

  1. Create your account

Go to Coinbase from a browser on your computer, or download and open the Coinbase app on Android or iOS to get started.

  1. Verify your email

Select Verify Email Address in the email you received from Coinbase. This email will be from [email protected]

  1. Verify your phone number

When you sign into Coinbase, you will be asked to enter your phone number. Upon doing so, you will need to enter the seven-digit code Coinbase texted to you, into your Coinbase account.

  1. Enter your personal information

Enter all the required info from your government-issued photo ID (you will need to provide a picture of your ID later).

  1. Verify your identity

Sign into Coinbase to complete your ID verification. 

  1. Link your payment method

Depending on which country you live in, the type of payment methods you can link will vary. In general, you can choose to link to a Bank Account, Debit Card, Wire Transfer, PayPal, and other various forms of payment.

If you need additional help setting up your Coinbase account, make sure to check out this guide.

How To Send Ethereum from Coinbase to MetaMask Wallet

Coinbase is one of the most popular cryptocurrency exchanges in the world. Designed for beginners, it offers a simple interface that guides users through the sometimes complicated world of crypto. 

However, the native Coinbase wallet is not one of the most common on NFT marketplaces. As such, you are often required to send your ethereum from Coinbase to another wallet like MetaMask.

This short guide will break down, step by step, how to send your ethereum from Coinbase to MetaMask.

This guide assumes you have already begun to purchase cryptocurrencies via Coinbase and that you already have a MetaMask account. If you are missing one of these, please click here to find more Cryptonews guides.

Source: Adobe / prima91

Coinbase and Metamask

For many, their first venture into the world of cryptocurrencies is through Coinbase – a user-friendly exchange that not only allows people to purchase bitcoin (BTC) but also to learn about the currencies they are purchasing.

For some, owning the currency is not enough. They want more, and as a result, look to purchase non-fungible tokens or “NFTs”. To do this, you must move your currency off of your exchange and into a specialized wallet which simultaneously acts as your login credentials to the marketplace you are looking to purchase from, as well as your wallet.

For most, MetaMask is the go-to wallet, and for this guide, we will be showing you how to safely send your ETH from Coinbase to your MetaMask wallet. 

Let’s kickstart your NFT journey!

Sending Your Ethereum

The first step to sending and receiving your ETH is to obtain the address of the receiving wallet. 

On Google Chrome this is found by opening your MetaMask extension, and looking underneath the “Account 1” heading, where you will see a string of letters and numbers – this is your Ethereum wallet address. 

It must be noted that this address is only for Ethereum and its tokens, and if you try to send an ETH-incompatible currency to this address you will lose the currency into the blockchain and will be unable to retrieve it.

If you hover over this address you will be prompted to “Copy to clipboard”. Click to copy the address, ready to paste it later on.

The next step is to open Coinbase and find the “Send / Receive” button in the top right-hand corner. Click this and you will be met with a pop-up in the middle of your screen.

Ensure that you complete the boxes accurately to guarantee your Ethereum goes to the correct wallet – a warning will appear if you enter an invalid Ethereum address.

  • Pay with: Ethereum
  • To: Paste your MetaMask wallet address that you copied earlier – e.g. 0x8a4F8F953b684c941D8D69F9062f65F41B49451d

Note: This is optional, but much like a traditional bank, you can add a note as to why this money is being sent.

Once completed, you will see the blue “Continue” button become active. Once clicked, you will be automatically redirected and prompted to review your transaction. Pay attention to this review as it will inform you of any additional fees and an estimate on the time it will take to complete the transfer.

If you have 2-step verification enabled, you will now be prompted to enter the code from your authenticator app or text message. Complete this and then press the confirm button.

Finally, you will see a screen confirming your transaction, as well as a confirmation email that specifies the amount sent, and the receiving wallet address.

Once completed, open your MetaMask extension again and you will be met with your updated Ethereum balance. Do not worry if this is not immediate – if there are a lot of transactions happening at once there may be a slight delay in the speed of transfer.

Sending ETH from Coinbase to Metamask – Summary

Given the growing prevalence of NFTs and other assets which can be purchased using cryptocurrencies, it is important that you understand how to effectively move your money into a wallet that allows you to complete these transactions.

As we have mentioned before, MetaMask is more than a wallet – it is also your login credentials for many marketplaces, so it is an ideal wallet for you to start your adventure. Now you are able to send and spend, your money on the blockchain.

In the upcoming guides, we will be covering how to utilize MetaMask with marketplaces such as OpenSea and Rarible for spending your currencies and purchasing your own NFTs.

You may need to safely deposit the Ether (ETH) purchased into the MetaMask wallet or you might want to send/ transfer your ETH into MetaMask in order to buy Ethereum-based NFTs in the marketplace. That’s why you are here.

Whether you are going to deposit or transfer your ETH to the MetaMask in order to buy NFTs, this article will be a good guide for you.

In case you didn’t set up the MetaMask wallet, read our article How to Create/ Set up a MetaMask Wallet: A Step by Step Guide.

Depositing/ transferring Ethereum into MetaMask is pretty straightforward. All you need is your MetaMask wallet address and any amount of Ethereum to Transfer. That’s it.

Steps to Deposit/ Transfer ETH From Coinbase website into MetaMask

1. Go to Coinbase website

Go to the Coinbase website.

You must already have an account. Just type your email address and password and click Sign In.

Coinbase log in

2. Select Assets/ Portfolio

Immediately after your sign-in, Coinbase will take you to your dashboard.

On the left side of the screen, you could see a few sections.

There you could see Assets. Click on it.

Coinbase Assests

3. Find ETH

In the Assets section, navigate and find the Ethereum currency that you’ve bought.

Coinbase Ethereum

4. Click Send

Once you find your Ethereum click on it.

You could see Send and Receive tabs appear.

Click on Send.

Coinbase Send Ethereum

5. Enter the amount

After clicking Send, you could see the amount, To, Note, and Pay with fields.

Leave the ‘Note’ field, which is optional and the ‘Pay with’ field, which is a default one.

In the Amount field, enter the amount of Ethereum you want to send.

6. Paste your MetaMask wallet address

To copy the address,

  • Go to Metamask extension

  • Enter the password to Unlock the wallet

  • Copy your wallet address by clicking just above your ETH balance (see the pic below)

MetaMask wallet Address

Now, in the ‘To’ field, you need to paste your MetaMask wallet address.

7. Click Continue

After pasting your wallet address, you can click Continue.

Remember, for every transaction, there must be a gas fee for sure.

Coinbase send Ethereum to MetaMask

Remember if you send cryptocurrency to the wrong wallet address, you will not be able to get it back. Hence, always be vigilant and ensure to copy your wallet address.

8. Click Send Now

After clicking Continue, there will be a confirmation pop-up.

There you can see all details of your transaction including the gas fee. Just go through the details once and click Send Now.

Transfer Ethereum from Coinbase

If you’ve enabled the 2-step verification process, upon clicking Send Now, it will ask you to type the verification code; type it and click Confirm.

9. Check your MetaMask wallet

After sending, you could see a Sent notification pop-up in Coinbase.

Now, head back to your MetaMask wallet extension and see your wallet balance on the front preview itself.

 

Steps to Deposit/ Transfer ETH From Coinbase mobile application into MetaMask

1. Go to Coinbase mobile application

Go to the Coinbase application on your mobile phone.

In case if you haven’t downloaded it yet, you can by clicking this link for Android; click this link for iOS.

After downloading the application, you need to type your email address and password to sign in.

2. Select Portfolio/ Assets

Immediately after your sign-in, the Coinbase application will take you to your dashboard.

There you could see Portfolio. Tap on it.

Or 

You can even tap Coinbase Mobile application icon.

Coinbase mobile app

3. Find ETH

After tapping Portfolio, your assets list will be visible. Choose Ethereum.

In case if you’ve tapped Coinbase Mobile application this icon,

  • You can see Convert, Send, and Receive.

  • Tap on Send

  • Then, tap the Ethereum

Transfer Ethereum from Coinbase mobile application

4. Enter the amount

After tapping the Ethereum asset, you will see an amount field.

Type the amount of Ethereum you would like to send and tap Continue. You can use toggle if want to see the amount in terms of cryptocurrency.

Coinbase Ethereum amount

5. Paste your MetaMask wallet address

To copy your wallet address,

  • Go to Metamask extension

  • Enter the password to Unlock the wallet

  • Copy your wallet address by clicking just above your ETH balance (see the pic below)

MetaMask wallet Address

Now, you need to paste your MetaMask wallet address in the respected field.

6. Tap Confirm/ Preview

Leave the note field which is optional.

After pasting your wallet address, tap confirm/ preview.

Now, Coinbase will send you a verification code. Enter that code in the given field to proceed further.

Just follow the remaining prompts.

7. Check your MetaMask wallet

After sending, you could see a Sent notification pop-up in your Coinbase mobile application.

The transfer will take a few seconds to a few minutes to reflect.

Now, head back to your MetaMask wallet extension to see your wallet balance, which is on the front preview itself.

 

FAQs

1. What can we do with the MetaMask wallet?

MetaMask is a multi-purpose crypto wallet that:

  • Is a gateway to access blockchain applications

  • Can be used to

    buy

    , store, swap, and send Ethereum (ERC-20) & Ethereum-based tokens (ERC-721, ERC-777, & ERC-1155)

  • Can be used to store NFTs (ERC-721)

2. Is MetaMask only for Ethereum?

MetaMask is for Ethereum and Ethereum-based tokens only. Users can store, buy, swap Ethereum and Ethereum-based tokens (ERC-20) in MetaMask wallet.

For example, users can store Wrapped Bitcoin (WBTC) in MetaMask; because WBTC is an ERC-20 token.

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Written by Jane