You must learn how to send ETH to your MetaMask wallet whether you are purchasing NFTs or making Ethereum investments. This article will serve as a step-by-step tutorial on how to transfer ETH from Coinbase to your MetaMask wallet.
Before you can send ETH, you must first have an account on Coinbase and a wallet on MetaMask. Here is a breakdown of each one’s configuration.
How To Send Your Ethereum From Coinbase To Metamask Wallet
For many, their first venture into the world of crypto is through Coinbase – a user-friendly exchange that not only allows people to buy Bitcoin (BTC), but also to gain knowledge about the currencies they are buying.
Owning the currency is insufficient for some people. They look to purchase non-fungible tokens (NFTs) because they want more and as a result. You must transfer your money out of your exchange and into a specialized wallet that serves as both your wallet and your login information for the online store you wish to shop at in order to accomplish this.
The most popular wallet is MetaMask, and in this guide, we’ll show you how to send Ethereum (ETH) securely from Coinbase to your MetaMask wallet.
Step 1: Sign Into Your Coinbase Account
You must first log into your Coinbase account to access or purchase some ETH before you can start the ETH transfer.
Step 2: Buy Ethereum (ETH)
You can move on to Step 3 immediately if you have already bought ETH. If not, simply go to your Coinbase account’s Buy/Sell button at the top. Then choose Buy, enter the amount of money you wish to convert to ETH, confirm you are purchasing Ethereum, then select your payment method before tapping Preview Buy.
Verify that everything looks okay after selecting Preview Buy. Make sure your payment method is secure and that you are converting the appropriate amount of your home currency to ETH. Additionally, pay attention to the Coinbase fee because it will have an impact on both the price you pay and the quantity of ETH you receive. Select Buy Now if everything appears to be in order.
You can check your balance under the Assets tab after buying your ETH.
Read More: How To Buy Ethereum?
Step 3: Click Send
Once you have some ETH in your Coinbase account, go to the top of your account and click the Send/Receive button. Select Pay with Ethereum and then decide how much Ethereum you want to send to your MetaMask wallet.
Step 4: Copy/Paste Your MetaMask Address to Coinbase
You must log into your MetaMask wallet in order to copy your wallet address before sending any ETH. Your wallet address is listed under Account at the top of your wallet profile.
Your wallet address is 42-characters and will start with “0x”. When you hover over the Chrome extension, it ought to automatically say Copy to Clipboard. Next, paste your Metamask wallet address into the To section of your Coinbase account. On mobile, you should be able to easily click on the address and have it automatically copy it for you. A note is not required, but it is an option.
Step 5: Click Continue/Send Now
To review your transfer, click Continue after pasting your MetaMask wallet into Coinbase. After making sure the transfer looks good, select Send Now.
Keep in mind that sending ETH from Coinbase to MetaMask requires you to pay a network fee. This fee is not set by Coinbase; instead, it varies according to how the network (blockchain) is used. Also keep in mind that it may take up to 10 minutes or longer to receive your ETH into your MetaMask wallet. Once more, how long this takes generally depends on how busy the network is at the time of the transfer.
Step 6: Check Your MetaMask Wallet
Log into your MetaMask wallet to view a front preview of your updated balance and verify that you have indeed received your ETH. To view your ETH if you have multiple assets in your wallet, you might need to click the Assets tab.
Be patient and don’t get upset if you sent your ETH but it hasn’t appeared in your MetaMask wallet. Keep in mind that it might take a while for it to show up in your wallet. You can access all of your transactions on the blockchain using Etherscan by going to the Activity tab in your wallet whenever you want to review a transaction.
Read More: Metamask vs Coinbase: Which Crypto Wallet I Should Choose?
How To Set Up Coinbase Account
To purchase ETH, you must first create a Coinbase account. Since its June 2012 launch, Coinbase has established a reputation as one of the world’s most reputable and secure cryptocurrency exchanges. When you choose Coinbase as your preferred cryptocurrency exchange, you can be sure that you’re not acting alone—the platform has over 89 million registered users.
To set up your Coinbase account, follow these steps below:
- Create your account
To begin, open the Coinbase app on Android or iOS or navigate to Coinbase from a computer’s browser.
- Verify your email
Select Verify Email Address in the email you received from Coinbase. This email will be from [email protected].
- Verify your phone number
Your phone number will be required when you sign up for an account with Coinbase. To complete the transaction, you must first enter the seven-digit code Coinbase texted you into your Coinbase account.
- Enter your personal information
Enter all the necessary information from your official photo ID (you’ll have to upload a picture of your ID later).
- Verify your identity
To complete your ID verification, sign into Coinbase.
- Link your payment method
The kinds of payment methods you can link will change depending on which nation you reside in. Generally speaking, you can choose to link to a Bank Account, Debit Card, Wire Transfer, PayPal, and other different payment methods.
Make sure to read through this guide if you require any additional assistance with setting up your Coinbase account.
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How To Set Up A Metamask Wallet
The primary use of the software (hot storage) cryptocurrency wallet MetaMask is to communicate with the Ethereum blockchain. A mobile app or browser extension can be used to access MetaMask, which is then used to communicate with decentralized applications (Dapps).
To set up your MetaMask wallet, follow these steps below:
- Add the chrome extension or download the app
Visit the official website to download the Chrome extension for your browser, or use the links on your mobile device to download the Android or iOS app.
- Create a wallet
Once you choose Get Started, you will be asked to either Import Wallet or Create a Wallet. Assuming you don’t already have a wallet, choose Create a Wallet. If you already have a wallet, select Import Wallet and then enter your secret phrase.
- Create a password
Make sure to use a strong password when creating one. Create the strongest password you can using a combination of capital and lowercase letters, numbers, and various symbols.
- Secure your secret phrase
It’s important to remember that your secret phrase functions similarly to the Web3 equivalent of your Social Security Number (SSN). When securing your secret phrase, be sure to record it on paper and keep it in a safe place. Write it down on multiple pieces of paper, and store it in various safe places for added security.
- Confirm your secret recovery phrase
You will be prompted to enter your secret phrase again after writing it down to make sure you typed it correctly. You will log into your MetaMask wallet after entering your phrase.
Which Fees Apply To Networks?
Outgoing transactions usually have a network fee attached to ensure that the transaction is processed on the blockchain. The systems responsible for processing transactions and maintaining network security are known as cryptocurrency miners, and they receive this fee. This charge is incurred when carrying out a variety of operations, including using dapps or DeFi applications, exchanging one cryptocurrency for another, or sending cryptocurrency to another wallet address.
How To Manage Your Digital Assets
Ether, abbreviated ETH, is the cost of using Ethereum tokens and is one of its core components. You will need to purchase some ETH in order to engage in any smart contract-related activity on Ethereum.
Every ERC-20 token type is supported by MetaMask, including stablecoins like USDT, USDC, and DAI as well as various utility tokens that could be applied to governance. ERC-721 tokens, also referred to as NFTs, are the second important type of tokens that MetaMask supports. These tokens can stand in for a variety of special digital goods, including artwork, tickets, badges, game items, and so forth.
What is the most effective method for discovering available tokens? To visit CoinGecko, use the MetaMask browser. It’s a helpful website that lists cryptocurrencies and tokens according to their market capitalization and provides pertinent details about each project. You’ll see that the majority of the top 100 tokens are ERC-20 tokens and are compatible with MetaMask.
Since MetaMask is an Ethereum Wallet that only supports ERC-20 assets, you won’t be able to purchase Bitcoin (BTC) through it. Try using a multi-chain wallet like Liquality to store both BTC and ERC-20 coins.
