How to send crypto to another Coinbase Wallet user?

Sending Crypto Between Coinbase Wallet Users

1. Open the Coinbase Wallet app on your mobile device and ensure you are logged into your account. Navigate to the home screen where your balance and available tokens are displayed.

2. Tap the “Send” button, typically located at the bottom center or top right of the interface. This will open a new window allowing you to enter recipient details and transaction information.

3. Enter the recipient’s wallet address. You can either manually type in their public wallet address or scan their QR code using the built-in scanner in the app. Double-check the address for accuracy to avoid irreversible transactions.

4. Select the cryptocurrency you wish to send from your available balances. The app supports multiple assets such as Bitcoin (BTC), Ethereum (ETH), and various ERC-20 tokens.

5. Input the amount you want to transfer. The app will automatically calculate network fees based on current blockchain congestion. Review both the amount and fee before proceeding.

Understanding Transaction Fees and Speed

1. Every transaction on the blockchain requires a network fee, which goes to miners or validators processing the transfer. These fees fluctuate depending on network demand, especially on Ethereum.

2. Coinbase Wallet provides options to adjust the gas fee if sending ETH or ERC-20 tokens. Higher fees result in faster confirmation times, while lower fees may delay processing.

3. For Bitcoin transactions, fees are calculated based on transaction size in bytes and current mempool congestion. The wallet estimates a reasonable fee but allows manual adjustment in advanced settings.

4. Always confirm the total cost—your chosen amount plus the network fee—before finalizing. Once submitted, transactions cannot be canceled or reversed.

5. Monitor the transaction status through the app’s activity feed. Each transaction includes a hash ID that can be used to track progress on blockchain explorers like Etherscan or Blockchain.com.

Security Practices When Sending Crypto

1. Never share your recovery phrase with anyone. Coinbase will never ask for it, and no legitimate user needs it to receive funds.

3. Use trusted networks when conducting transactions. Avoid public Wi-Fi, as it increases the risk of interception or phishing attempts.

4. Enable two-factor authentication (2FA) within the Coinbase Wallet settings to add an extra layer of protection against unauthorized access.

5. Consider sending a small test transaction first when dealing with large amounts or unfamiliar addresses. This minimizes risk in case of errors.

Frequently Asked Questions

Can I send crypto from my Coinbase Wallet to another person’s Coinbase.com account?Yes, you can send crypto to any external wallet, including Coinbase.com accounts. The recipient must provide their personal wallet address from their Coinbase account under the 'Receive' section.

What happens if I send crypto to the wrong address?Blockchain transactions are irreversible. If you send funds to an incorrect or invalid address, there is no way to recover them through Coinbase or any central authority.

Do I need the other person to have the same cryptocurrency in their wallet to receive it?No, the recipient does not need a prior balance of the same token. As long as their wallet supports the blockchain network (e.g., Ethereum for ERC-20 tokens), they can receive and hold the asset.

Are there limits on how much crypto I can send?Coinbase Wallet itself does not impose transaction limits, but local regulations or verification levels on linked exchanges might affect certain operations. Large transfers may require additional identity verification steps.