How to transfer crypto from another exchange to Coinbase?

Understanding Wallet Addresses and Network Compatibility

1. Every cryptocurrency has a unique wallet address format that must match the asset being transferred. For example, Ethereum-based tokens require an Ethereum-compatible address, while Bitcoin requires a BTC address.

2. Coinbase supports multiple networks such as Ethereum (ERC-20), Polygon (ERC-20), Solana (SPL), and Bitcoin (BTC). Sending USDC via ERC-20 to a Solana USDC address will result in permanent loss.

3. Before initiating any transfer, verify the exact network supported by your Coinbase wallet for the specific token. This information appears under the “Receive” section in the Coinbase app or web interface.

4. Some exchanges list several network options for the same token. Selecting the wrong one—like sending USDT on Tron (TRC-20) to a Coinbase ETH deposit address—guarantees irreversible failure.

5. Coinbase does not support deposits on certain chains like BNB Smart Chain (BEP-20) or Avalanche C-Chain for most tokens. Attempting such transfers leads to non-recoverable funds.

Step-by-Step Transfer Initiation

1. Log into your source exchange account and navigate to the withdrawal or send section.

2. Select the cryptocurrency you wish to move and confirm the correct network from the dropdown menu.

3. Copy the deposit address shown in Coinbase’s “Receive” screen—do not manually type it. Even a single incorrect character invalidates the transaction.

4. Paste the address into the recipient field on the source exchange. Double-check both the address and network before confirming.

5. Enter the amount, review all fees—including blockchain gas fees charged by the source platform—and submit the withdrawal request.

Monitoring Transaction Status

1. Once submitted, the transaction appears on a blockchain explorer using the transaction hash (TXID), which the source exchange usually provides.

2. Coinbase displays pending deposits under the “Activity” tab. Status changes from “Processing” to “Completed” only after required network confirmations are met.

3. Confirmation thresholds vary: Bitcoin typically requires 3 confirmations, Ethereum needs 35, and Solana often settles in under 1 minute with no manual confirmation wait.

4. Delays may occur during network congestion. High gas prices on Ethereum can stall transfers for hours unless the sender pays elevated priority fees.

5. If a deposit remains unconfirmed beyond expected timeframes, cross-verify the TXID on Etherscan, Blockchain.com, or Solscan to ensure the transaction broadcasted correctly.

Common Pitfalls and Recovery Limitations

1. Coinbase cannot recover assets sent to incorrect addresses or unsupported networks.

2. Depositing wrapped Bitcoin (WBTC) to a native BTC address results in total loss, as WBTC exists only on Ethereum and related EVM chains.

3. Using legacy Bitcoin addresses (starting with “1”) instead of SegWit (bc1q) or Taproot (bc1p) may cause delays or rejection depending on the sending platform’s configuration.

4. Some privacy coins like Monero (XMR) or Zcash (ZEC) are not supported for deposit on Coinbase at all. Any attempt triggers automatic rejection without refund.

5. Reusing old deposit addresses for new transfers is unsafe. Coinbase rotates addresses periodically for security; older ones may no longer accept incoming funds.

Frequently Asked Questions

Q: Can I cancel a crypto transfer after submitting it on the source exchange?A: No. Blockchain transactions are immutable once broadcast. Cancellation is impossible even if the destination has not yet credited the funds.

Q: Why does my deposit show as “Received” but not appear in my Coinbase balance?A: This occurs when the network selected during withdrawal does not match the network Coinbase expects. The asset resides on a different chain and cannot be accessed through the Coinbase interface.

Q: Does Coinbase charge a fee to receive crypto?A: Coinbase does not charge deposit fees. However, the sending exchange may apply withdrawal fees, and blockchain network fees (gas or miner fees) are always borne by the sender.

Q: What happens if I send crypto to a Coinbase Card wallet address?A: Coinbase Card wallet addresses are not compatible with standard exchange deposits. Funds sent there will be inaccessible and irretrievable.