How to Receive Crypto in Coinbase Wallet
44sClear step-by-step guide on receiving crypto, a common pain point for beginners.
▶ Play ClipAI Summary
This video is a step-by-step tutorial on how to send cryptocurrency from a Coinbase exchange account to a Coinbase Wallet (also known as the Base app). The presenter demonstrates the process using USDC over the Base network, emphasizing the importance of selecting the correct blockchain network and address to avoid losing funds.
Chapters
[00:01]
Accessing the Wallet Receive Screen
Open the Coinbase Wallet or Base app, tap the two arrows at the bottom, then press receive. This displays addresses for different blockchains.
[00:15]
Choosing the Correct Blockchain Address
Select the address corresponding to the asset you're sending. For Bitcoin, use the Bitcoin address; for stablecoins like USDC, use the Solana or Ethereum address. All Ethereum-compatible networks (Base, BNB, etc.) share the same address.
[00:55]
Copying the Wallet Address
Copy the address from the wallet app. In the example, the Ethereum address is copied for sending USDC over the Base network.
[01:08]
Initiating Withdrawal from Coinbase
In the Coinbase exchange app, tap the send button (bottom left), select 'Send crypto', and paste the copied wallet address into the search box.
[01:47]
Selecting the Network and Asset
After pasting the address, choose the correct network and asset. The presenter selects USDC and the Base network, confirming the wallet supports USDC on Base.
[02:12]
Network Compatibility Warning
If sending Bitcoin, you must use the Bitcoin address, not an Ethereum address. Sending Bitcoin to an Ethereum address would result in a wrapped token or loss.
[03:03]
Understanding Shared Addresses Across Networks
The Ethereum address works across multiple chains (Ethereum, Base, Arbitrum, Avalanche, Optimism, Polygon), but they are separate networks. The choice of network is made on the Coinbase exchange side.
[04:09]
Confirming Network and Fees
After selecting the network, confirm the transaction details, including the fee (e.g., 15 on Ethereum). The fee is deducted from the sent amount.
[04:38]
Final Confirmation and Send
Review the preview screen, triple-check the wallet address, and press send. The funds will arrive in the Coinbase Wallet on the chosen network.
The key takeaway is to always verify the network and address compatibility before sending crypto to avoid irreversible loss. The process is straightforward once you understand that Ethereum-compatible addresses are shared across multiple chains.
Mentioned in this Video
Tutorial Checklist
Study Flashcards (5)
What is the first step to receive crypto in Coinbase Wallet?
easy
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What is the first step to receive crypto in Coinbase Wallet?
easy
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Open the wallet, tap the two arrows at the bottom, and press receive.
00:01
Which address should you use to send Bitcoin to Coinbase Wallet?
easy
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Which address should you use to send Bitcoin to Coinbase Wallet?
easy
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The Bitcoin address, not an Ethereum address.
00:15
True or False: The Ethereum address works across multiple networks like Base, Arbitrum, and Polygon.
easy
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True or False: The Ethereum address works across multiple networks like Base, Arbitrum, and Polygon.
easy
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True.
03:03
What happens if you send Bitcoin to an Ethereum address?
medium
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What happens if you send Bitcoin to an Ethereum address?
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You may receive a wrapped token or lose the funds.
02:38
How do you choose the network when sending from Coinbase exchange?
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How do you choose the network when sending from Coinbase exchange?
medium
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You select the network on the Coinbase exchange side, as the wallet address is the same across multiple chains.
03:30
💡 Key Takeaways
📊
Network-specific addresses
Clarifies that different assets require different blockchain addresses, preventing common mistakes.
00:15
💡
Warning about wrong network
Highlights the risk of sending Bitcoin to an Ethereum address, which could result in loss.
02:38
📊
Shared Ethereum address
Explains that one Ethereum address works across multiple chains, simplifying the process but requiring careful network selection.
03:03Full Transcript
[00:01] Wallet, otherwise known as Base app or just Base. So, this is Coinbase Wallet or Base app. Go down to the bottom, press the two arrows. Bottom left, press receive. Now, what you'll be doing is using a blockchain network to send
[00:15] your wallet. And you need to do that via a blockchain depending on which asset that you're sending. So, if you're sending Bitcoin, you've got your Bitcoin address here. If you're sending stable coins like USDC,
[00:29] maybe your Solana address or one of your Ethereum addresses. So, you can choose which blockchain that you want to use. If you're using Coinbase Wallet, then that you want to use. And so, you just need to get the address for that
[00:42] blockchain. All of the Ethereum addresses are the same. So, Base, BNB others. You can just use your Ethereum address. If you're using the Solana network, use your Solana address. If you're sending stable coins, you've got
[00:55] going to send USDC. I'll send that over the Base network, Ethereum address, I'm just going to press copy on the right-hand side. So, address that we're going to send to. Now, we need to go into our Coinbase
[01:08] account and just withdraw those funds to this address. Over in our Coinbase exchange account, what we now want to do is send crypto out to the address that we've just copied. So, down in the bottom left of your Coinbase account,
[01:20] press that. And then it says what you want to do. We're sending crypto. So, what we're doing is sending crypto from Coinbase over a network into our wallet account or our Coinbase Wallet or Base app. It blocks out screenshots and
[01:34] screen recording. So, I've taken some photos with a potato camera so you can So, what we need to do here is paste in our wallet address for Base app or Coinbase Wallet up here in this search box. So, paste that in. And then from
[01:47] there, it's going to give you options. Now, this is where you have to be sure sending and which blockchain that you're sending and which blockchain that you're using. So, I've copied from Base app my
[01:59] And I'm going to be using the Base network just to send that over. network just to send that over. So, I'm sending USDC. I know that on the Base network in my wallet, I can receive USDC, I can receive ETH, and a few other
[02:12] tokens that are supported, right? If I want to send Bitcoin, then I need to go back into Coinbase Wallet and copy my Bitcoin address because it's a different address, right? It's a different network. So, just be sure that whichever
[02:24] that you know which network that you want to receive it on, and that you know that you can receive the crypto that you want to send over, right? So, if you example, and then you withdraw Bitcoin, well, you're not actually sending
[02:38] Because that's not the Bitcoin network. Right? So, what you'll be sending is probably some other type of token or a wrapped token or something like that. video, but you probably don't want to be doing that, right? So, just make sure
[02:50] that you're using the correct network and you've got the address of the sending an asset that exists on that network, and there's no problems. So, I'm going to be sending USDC over the Base network. So, I'll press USDC here.
[03:03] network you want to use, right? So, in your Coinbase Wallet, address, that's the same address across across many different chains. So, my Ethereum address works across Ethereum, Base,
[03:16] Arbitrum, Avalanche, Optimism, Polygon. Um and so, though all of these share the same address, they're actually different networks. So, the way that we choose one of these networks is on the Coinbase
[03:30] of these networks is on the Coinbase side, in your wallet, tell them which Because in our Coinbase Wallet, they all have the same address. So, it's Coinbase Exchange that is going to choose which network to send it over. Now, when that
[03:43] asset hits your wallet, your Coinbase Wallet, then it will come on that share the same deposit address, they're wallet, when it gets received into your wallet,
[03:56] this choice now is determinant of which network it's on, right? So, if I choose Base, it'll be Base in my Coinbase Wallet. If I choose Arbitrum, the net network in my wallet. If I choose Ethereum, then the USDC will be in on
[04:09] have the same addresses, but they're different networks. So, choose which network that you want to receive that asset on. Click this. you have to pay this fee out of what you're sending. So, on Ethereum, it's 15
[04:22] Choose whichever network, and it's just going to confirm everything. So, does your recipient accept USDC on Base? I chose Base. Yes, because Coinbase Wallet Obviously, cuz it's a Coinbase's network. So, I'm going to press Base.
[04:38] just press yes, it's supported. And then from there, you're just going to tell whatever you want, and then just press preview on this, and it's going to give you the details, and you can check everything. So, we're sending USDC to
[04:52] the network or the wallet address that we pasted in here from our wallet. And Triple-check that it's the same wallet address for your Coinbase Wallet. The on. You can see everything here. If that's good, you can just press send
[05:06] now. That will send from your Coinbase account into your Coinbase Wallet. Just your first time. Check that it's the asset that you want on the blockchain asset that you want on the blockchain that you want to send it on.
