How to transfer shiba inu from binance to coinbase wallet

You may have just bought some SHIB on Binance, and are looking to transfer it to your Coinbase Wallet.

However, one thing you may want to note is that Coinbase only supports the ERC20 version of SHIB and not the BSC version!

Here’s a step-by-step guide on what you can do:

How to transfer SHIB from Binance to Coinbase Wallet

Here are 6 steps to transfer SHIB from Binance to Coinbase Wallet:

  1. Go to Coinbase Wallet and select ‘Receive’
  2. Search for SHIB and copy the ERC20 address
  3. Go to ‘Wallet’ → ‘Fiat/Spot’ on Binance
  4. Select SHIB as the cryptocurrency you wish to withdraw
  5. Enter the details of the transaction
  6. Receive SHIB in your Coinbase Wallet

Go to Coinbase Wallet and select ‘Receive’

On your Coinbase Wallet, you will need to select ‘Receive‘.

Coinbase Wallet Receive

Search for SHIB and copy the ERC20 address

After that, you will need to search for SHIB,

Coinbase Search For SHIB

and then copy the deposit address that is shown.

Coinbase Wallet SHIB

The address that you are copying only supports the ERC20 network, and not the BEP20 (Binance Smart Chain) that Binance supports too.

Even though both the ERC20 and BEP20 deposit addresses start with ‘0x’, they are still separate networks.

If you send SHIB over the Binance Smart Chain to Coinbase Wallet, your SHIB will be lost forever!

Go to ‘Wallet’ → ‘Fiat/Spot’ on Binance

On Binance’s platform, you will need to go to ‘Wallet‘, and then ‘Fiat/Spot‘.

Binance Wallet Fiat Spot

Select SHIB as the cryptocurrency you wish to withdraw

Once you’re there, you can search for SHIB, and then select Withdraw.

Binance Select SHIB To Withdraw

Enter the details of the transaction

On the next page, you will need to enter the details of the transaction.

Binance Withdraw SHIB Details

This includes:

  1. The address you’ve obtained from Coinbase Wallet
  2. The network that you are using to withdraw
  3. The amount of SHIB you wish to transfer

Binance may not auto-detect that your Coinbase Wallet deposit address only supports the ERC20 network. As such, you will need to select ERC20 as the network that you’re withdrawing to.

Binance SHIB Withdraw Via ERC20

This is a very important step, and you will need to ensure that you choose the correct network. If you choose to send SHIB via the Binance Smart Chain, it will be lost as Coinbase Wallet does not support this network.

Receive SHIB in your Coinbase Wallet

After confirming your withdrawal, SHIB will be sent from your Binance account to your Coinbase wallet.

What are the fees for sending SHIB from Binance to Coinbase Wallet?

You are only able to send SHIB from Binance to your Coinbase Wallet via the ERC20 network. The withdrawal fees that you pay when transacting on the ERC20 network is usually higher than other blockchains, due to network congestion.

When I tried to withdraw SHIB from Binance, the fees that I needed to pay was around 700,000 SHIB.

Binance Withdraw SHIB Fees

This is actually quite a large amount of money when converting it back to a fiat currency!

As such, it would be best that you perform one transfer, instead of making multiple withdrawals to your Coinbase Wallet. Otherwise, the withdrawal fees can be really hefty!

Conclusion

Transferring SHIB using the ERC20 network is usually quite expensive, due to the network congestion present on the Ethereum network.

Moreover, the Coinbase Wallet does not support BEP20 deposits.

If you intend to hold your SHIB in the Coinbase Wallet, the best way will be to only make one withdrawal, due to the high gas fees!

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At a Glance: Inside your encrypted wallet, navigate to the “fiat and spot” page in Binance. Navigate to the currency you want to deposit and click “deposit” then enter the address of the new wallet you want to transfer to.

Different crypto exchanges each have their pros and cons. If you are a crypto trader, you likely have assets across multiple exchanges.

Depending on your trading strategy, you may want to use a well-established exchange like Coinbase. Coinbase is one of the best crypto exchanges both in terms of trading volume and the number of users worldwide. 

However, Coinbase only supports a limited number of coins. If you want access to a greater variety of trading pairs, you might want to transfer your crypto assets from Coinbase to another exchange.

Luckily, transferring a cryptocurrency from one exchange to another is not complicated. All you have to do is to copy your wallet address for the cryptocurrency that you want to receive. Then, paste the wallet address in the exchange you want to send it to. The transaction will usually take up to 30 minutes to complete. However, it may be delayed if there is network congestion.

If you want to find out how to transfer from Coinbase to Binance, read further. 

Transferring from Coinbase to Binance: Overview

Coinbase is one of the best crypto exchanges both in terms of trading volume and the number of users worldwide. However, Coinbase only supports a limited number of coins. If you want access to a greater variety of trading pairs, you might want to transfer your crypto assets from Coinbase to another exchange.

If you have a Coinbase and a Binance account, you might want to transfer cryptocurrencies between each other.

But how to transfer from Coinbase to Binance?

Transfering in 4 Steps

To transfer crypto from Coinbase to Binance, follow the following steps:

  1. Copy your cryptocurrency’s public wallet address on Binance.
  2. Send the crypto by clicking on “Send/Receive” on Coinbase and paste the Binance wallet address in the “To” field.
  3. For example, if you want to send Ethereum from Coinbase to Binance, you need to copy your Ethereum wallet address on Binance. Then, paste your Ethereum wallet address on the “Send/Recieve” pop-up on Coinbase on the “To” field.
  4. Click on “Continue” followed by “Send now”.

Coinbase will give you a display of the estimated time of the transaction. At times, the transaction may be delayed because of network congestion.

A Note About Storing Your Crypto

Something that all of the experts know is that you need to be very careful about where you store your crypto funds. Crypto exchanges and their built-in wallets are frequently attacked by hackers. If you do choose to store cryptocurrency online, do it temporarily. Invest in a hardware or software wallet for greater security. 

How to Transfer Crypto from Coinbase to Binance

First, you need to have both a Coinbase and Binance account. If you want to transfer from Coinbase to Binance, you need to have crypto assets in your Coinbase account.

When transferring from Coinbase to Binance, start at the “Receive” end of your Binance account. You need to copy the Binance wallet address for the cryptocurrency you want to receive. Then, head to the “Send” part of your Coinbase account. Paste the wallet address in the correct place.

Find Your Encrypted Wallet Address

First, go to your Binance account to find your encrypted wallet address. 

  • Navigate to the “Fiat and Spot” page on Binance.
  • Navigate to the cryptocurrency that you want to deposit.
  • For example, if you want to deposit Ethereum, search for Ethereum and click on “Deposit”.
  • After you’ve clicked on “Deposit” on the cryptocurrency that you want to deposit, you’ll land on the cryptocurrency’s wallet.
  • On the right of the page, you’ll see your cryptocurrency’s wallet address on the “Address” field.
  • Highlight the address and copy it.

Send to Binance

Once you have your Binance wallet deposit address, head over to Coinbase.

  • Since you’re looking to send crypto to Binance, click on “Send/Receive”.
  • After you’ve clicked on “Send/Receive”, a “Send/Receive” pop-up will open.
  • On the pop-up, make sure you’re on the “Send” tab.
  • Enter the amount of crypto you want to send to Binance.
  • Paste the cryptocurrency’s address that you’ve copied from the third step on the “To” field.
  • Click on the “Pay with” field and select the cryptocurrency that you want to send.
  • Once you’re done, click on “Continue” to continue with the transaction.

Transaction Overview

After you’ve clicked on “Continue”, you’ll land on the transaction overview. 

  • Here you can see the amount of your chosen cryptocurrency that you are sending to Binance.
  • You will also be able to view the Coin base fee, Network fee, Total, and the estimated time of the transaction.
  • If everything is correct, click on “Send now” to send the cryptocurrency to Binance.
  • The transaction will usually take up to 30 minutes to complete.
  • However, it may be delayed if there is network congestion.

How to Transfer Crypto from Binance to Coinbase

If you want to transfer crypto from Binance to Coinbase, the process is very similar. All you have to do is to copy your wallet address for the cryptocurrency you want to receive. Then, paste the wallet address in the exchange you want to send it to.

  • You need to start at your Coinbase account, and find the cryptocurrency you want to transfer, and click on “Receive”.
  • Copy the wallet address generated by Coinbase.
  • Head over to Binance and navigate to  “Funds” > “Withdraw Bitcoins”.
  • Follow the prompt and copy the Coinbase wallet address in the “To” field.

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