2022-2-23 14:36 |
IMPORTANT WARNINGS Trying to deposit a non-supported token may result in the loss of tokens.Send a small test amount firstBeware when choosing the network which you want to use for sending crypto Sending crypto from Coinbase
Coinbase is one of the biggest exchanges in the world. This means there are many people who use Coinbase as their choice of CEX. However, with the increasing fear of hacking and other security risks, people have moved to hardware wallets in masses. This resulted in the Ledger userbase increasing a lot. Today we are going to see how you can move your crypto from your Coinbase account to your Ledger.
To start off, first, we have to open up our Coinbase account. When you are logged in, you will see the “Send/Receive” button at the top right corner. Click on it and a tab will pop up.
On this tab, you will see two options. One is called send and the other is called receive. Since we are sending money to our Ledger here, we are going to pick the Send one. There you will see which coin you could send. Click on the coin and a list of coins will come up.
Here on this list, you could pick the coin you want to send. It will be a list of the coins you own ranked, but all coins will be shown anyway, you could search which coin you want if you couldn’t see it in the list. Let us move to Ledger and see how we could get the deposit address before we can continue with Coinbase.
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How to receive funds on your LedgerAt the start, you have to connect your Ledger Wallet to your computer. Put the wallet in your USB, and then unlock it to start. Find the Bitcoin app, and open it up. Here you will see that you need to confirm it from your Ledger itself.
Pick the network you want to use. If you pick a cheap network then you could send it for cheaper and faster, so it is very important to know which network you would like to use. Make sure that Coinbase provides transactions in that network so you do not lose your funds when sending.
When you open up the app, you will see the receive button at the top. Click this to get redirected towards the deposit address. You could also see the send at the same place for when you want to send it back in the future.
You will face this security tab when you click on the receive button. This means you will have to confirm the display from your ledger itself. Navigate your Ledger and confirm this address to be shown on your PC as well to use it.
The last stage will be seeing the address. You could either use the QR code or the address itself in order to continue. Get the address and go back to Coinbase to finish off what we have started.
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Sending crypto from CoinbaseAfter you have received the address, there is one thing left to do. Which is using this address on Coinbase to send your funds. Make sure that you have picked the right coin, and paste your address at the address bar. Enter the amount you want to send in $ terms or in coin amount (or you can use the max button as well) and you are ready. Click on the continue button.
Here you will see the last page. This will give you the information you have given earlier, check them all, and make sure that all of them are correct. After you are certain that all of them are correct, all you have to do is hit the send now button and your transaction will be complete.
FAQs What extra Security does Ledger provide?Coinbase is certainly one of the most trusted exchanges in the world. With being a registered USA company and being listed in the public stock exchange, it certainly has a high level of security for everyone. However, account safety is not the same as exchange safety.
Your account could be in trouble at all times which is why people prefer hardware wallets. Hackers would need to have both your hardware wallet AND your access at the same time, which is close to zero compared to account hacking possibility. This is why Ledger provides much better security for your funds.
When will I receive the funds?Coinbase is a quick exchange. Unless there is something wrong with your transaction or your account, then they will send it in under 10 minutes for most cases. Adding the transaction itself on top of it means we need to calculate the network as well. While some networks do it near-instantly, others do it a bit slower, like Bitcoin is slower than Tron for example. So anything above 10 minutes would be the network and coin you have used.
Read also:
How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From Binance to Ledger?How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From Binance to Trust WalletHow To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From Coinbase to Coinbase Pro?How To Transfer Crypto (ETH, SOL, ADA, SHIB etc.) From Coinbase to Coinbase Wallet?How To Transfer Bitcoin From Crypto.com to Cash app?How To Transfer Crypto (BTC, ETH, SOL, ADA, SHIB etc.) From Binance to Exodus?How To Transfer Crypto (BTC, ETH, SOL, ADA, SHIB etc.) From Binance to WazirxHow To Deposit Crypto From Other Exchanges (Binance, Coinbase etc.) To Revolut?The post How To Transfer Crypto From Coinbase to Ledger Nano X? appeared first on CaptainAltcoin.
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