How to Transfer Crypto from Coinbase to Trust Wallet: A Comprehensive Guide
The world of digital currency offers a plethora of platforms to buy, sell, and store your assets. Coinbase and Trust Wallet are two renowned platforms.
However, while Coinbase is popular for its user-friendly interface and ease of transactions, Trust Wallet is favored for its high security and privacy features.
Users often buy crypto assets on Coinbase and then transfer them to
Trust Wallet for safekeeping. This article guides you through transferring your digital currency from Coinbase to Trust Wallet.
Also read: PayPal to Integrate Crypto Stablecoin $PYUSD on Venmo
Understanding the Significance of Trust Wallet
Trust Wallet, a user-friendly mobile multi-chain wallet, supports over 64 blockchains and over three million digital assets, including the much sought-after NFTs.
Furthermore, the app has an impressive user base of over 50 million people worldwide, with its security audited system ensuring the safe storage of all your digital assets.
With private keys stored on your mobile device and assets on-chain, Trust Wallet gives you complete control over your assets at all times.
You can buy, swap, or stake your favorite digital currency without leaving the app, and connect to decentralized applications (dApps) through its built-in dApp browser.
The Trust Wallet app can be downloaded here if you haven’t installed it yet.
Why Opt for Trust Wallet Over Coinbase
Holding your digital assets on a custodial platform like Coinbase implies that you are not completely controlling your assets.
Instead, you must trust the provider with your private keys, indirectly owning your cryptocurrencies.
This arrangement can present a risk of losing your digital assets if something unfavorable happens to the platform.
Transferring your digital assets from Coinbase to Trust Wallet, a non-custodial wallet, ensures that you have complete control over your funds.
It eliminates the risk associated with custodial wallets, making Trust Wallet safer for storing digital assets.
A Step-by-Step Guide on How to Transfer Digital Currency from Coinbase to Trust Wallet
1. Preparing Your Trust Wallet for the Transfer
You can download Trust Wallet from your mobile app store if you haven’t installed it yet. Once installed, create an account by following the on-screen instructions.
Set a secure passcode and store and verify the secret recovery phrase for added security.
2. Selecting the Digital Currency and Copying the Address
Open the Trust Wallet app on your mobile device and navigate to your wallet. You will see a list of digital currencies, including Bitcoin, Ethereum, BNB, and Smart Chain.
Scroll through the list until you find the digital currency you want to receive.
For example, if you want to send Ethereum (ETH) from Coinbase to Trust Wallet, tap on Ethereum. Once you select the desired digital currency, copy its address by tapping “Copy”.
This action copies the digital currency address from Trust Wallet to your clipboard.
3. Getting Ready to Transfer from Coinbase
Next, open your Coinbase mobile application. If you haven’t installed it, you can download it from the app store for your device. Sign in with your credentials.
Additionally, once you’re logged in, navigate to the page for sending funds. You will see several options here.
Tap on “Send” to move to a page where you can select an asset from a list of digital currencies you own. Select the digital currency you want to send to Trust Wallet.
If the desired digital currency isn’t listed, you must purchase it on Coinbase before transferring it to Trust Wallet.
4. Initiating the Transfer to Trust Wallet
After selecting the digital currency you want to send, you will visit the “Enter amount” page.
Additionally, this page displays the amount of digital currency you own in fiat currency, which is the maximum amount you can send.
Once you’ve decided on the amount to transfer to Trust Wallet, tap “Continue” to move to the “Select Recipient” page; here, paste the digital currency address copied from Trust Wallet into the “To” field. Tap “Preview send” to proceed to the confirmation page.
This page will show you the amount of digital currency sent to Trust Wallet, Coinbase, and network fees. Tap “Send Now” to transfer your digital currency from Coinbase to Trust Wallet.
The transaction will typically take about 30 to 60 minutes to complete. Once you complete it, check the amount received in your Trust Wallet.
Also read: Hong Kong Financial Watchdog Issues Warning to Crypto Firms
In Conclusion: How to Transfer Crypto from Coinbase to Trust Wallet
In conclusion, transferring digital currency from one wallet to another is generally quick and straightforward.
However, it’s crucial to ensure that you paste the correct wallet address to prevent losing your funds. With the right steps and precautions, you can easily and safely transfer your digital currency from Coinbase to Trust Wallet.