As one of the most popular and established cryptocurrency exchanges, Coinbase acts as an accessible way for many users to access cryptocurrency. But how can these users 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 easily set up and is best for users who trade cryptocurrencies on a daily basis, while giving them the freedom to have their own keys, which exchanges do not do.
For such users, it can be quite overwhelming to transfer cryptocurrencies and store them in a secure wallet. So, here is a guide on how to transfer cryptocurrencies from Coinbase to Metamask.
HOW TO TRANSFER CRYPTOCURRENCIES FROM COINBASE TO METAMASK?
To transfer from Coinbase to MetaMask, you need to follow these steps.
Log in to your Coinbase account.
Log in to your MetaMask account and click on three dots that say “buy and send”.
Each cryptocurrency has its own address, so make sure you send yours to the correct address. For example: Make sure you send Bitcoin to a Bitcoin address and Ethereum to an Ethereum address.
Copy the MetaMask wallet address to the clipboard.
Paste the address into the wallet address field in Coinbase (confirm the wallet address before sending).
Enter the amount of cryptocurrency you wish to send. It is recommended to test the function by sending a small amount first.
Once you have done this, click the Complete button to finalize the transaction.
Your transaction may take some time to process (depending on the amount of congestion Coinbase or MetaMask may encounter during peak hours).
COINBASE TO METAMASK FEE
According to the official website, Coinbase charges a nominal fee “For transactions on cryptocurrency networks (i.e., cryptocurrency transfers outside of the Coinbase platform), Coinbase incurs and pays network transaction fees (e.g., miner fees).
The fee is generally calculated based on estimates of network fees and varies based on multiple factors, including the payment method selected, the size of the order, and market conditions such as volatility and liquidity.