Buying and holding cryptocurrencies has become increasingly popular in the past year, and the number of crypto-facilitating platforms has also grown. Coinbase is one of the most popular crypto exchanges for newcomers in the industry. The decentralized setup, storage, and staking functionality of Trust Wallet, however, make it a preferred cryptocurrency wallet for more experienced traders. Throughout this guide, we provide you with a detailed explanation of how to transfer crypto from Coinbase to Trust Wallet, as well as highlight the benefits of using a decentralized app to store your funds.
Also Read:- How To Import Token To Coinbase Wallet?
Simple Steps to Transfer Crypto from Coinbase to Trust Wallet
Step 1:- Open the Coinbase wallet
Activating your Coinbase account is the first step. You must ensure there is sufficient crypto funds in the account to make a withdrawal. Coinbase requires the verification of your identity before you can withdraw your cryptocurrency. Having logged in, your main dashboard will appear. On the upper right corner of the dashboard, tap the ‘Send/Receive‘ button. After selecting an asset on Coinbase, click ‘Send‘ to transfer the asset to Trust Wallet once you have made your decision to withdraw it.
Step 2:- Open and Setup the Trust wallet
To get a Trust wallet, visit the website (https://trustwallet.com/) and download it to your mobile device. The application can be downloaded for free for iPhones and Android devices. Wallets can be opened by existing Trust Wallet users by logging in and retrieving the receiving address in the wallet. Stored wallets will be prompted to create a new wallet and set up a recovery passphrase. The process of setting up a new Trust Wallet account is quite straightforward. Keeping a safe copy of the recovery phrase is recommended for new users.
Step 3:- Select a Crypto and copy the wallet address
You can view the available coin in the wallet by clicking on the “Receive” button, which will display the address of the cryptocurrency associated with that coin. Choose a cryptocurrency from the list of supported assets. Once selected, a popup will appear
with instructions on how to receive the cryptocurrency and the address of the unique wallet. With a tap on the “Copy” button, users can copy the wallet address, sometimes referred to as the crypto’s address. You can also scan a QR code on Trust Wallet to automatically capture the wallet address for the supported coin. Copying the right wallet address is essential to transferring cryptocurrency without losing funds.
Step 4:- Paste the Trust wallet address in Coinbase
Once you have selected the crypto to send, “return to Coinbase and paste the address” copied in the previous step for the Trust Wallet. You will also need to choose the blockchain network for the crypto you have chosen. As an example, the Coinbase withdrawal page should display the Litecoin wallet address chosen for the BTC blockchain network when withdrawing LTC.
Step 5:- Review transfer details and send the Crypto
The user needs to access the “Send/Receive” section of the Coinbase app in order to start transferring crypto. The “Send” button on the on-screen menu can be toggled for sending a transaction to another Coinbase wallet user or another wallet like Trust Wallet. To transfer Litecoin, you must choose the cryptocurrency. Copying the wallet address from Trust Wallet and pasting it into the “To” section is what senders do.
At the End
It is relatively easy and quick to transfer crypto from one wallet to another, so if you are wondering how to transfer crypto from Coinbase to Trust Wallet, do not worry. Beginners will find this guide extremely easy to follow since it’s written in an easy-to-understand manner. No matter if you’re a beginner or an experienced cryptocurrency investor, you should always double-check your wallet address whenever you send crypto to another wallet. You may lose your funds and be unable to retrieve them if this occurs.
Frequently Asked Questions (FAQs)
How much does Coinbase charge to transfer from the Trust wallet?
Coinbase does not charge the transaction fee for transferring funds, However, the network fee is charged by miners for completing the transaction. Except during periods of high congestion, these fees are usually negligible.
Can I connect my Trust wallet to the Coinbase wallet?
Let’s get you through setting up the Coinbase Wallet mobile app. A self-custody wallet can either be created by you or imported via a 12-word recovery phrase from another wallet provider such as MetaMask, Trust Wallet, or even another Coinbase wallet.
Is it safe to keep Crypto on a Trust wallet?
After users protect their backup details, Trust Wallet is a safe and secure way to store crypto assets. If the company becomes insolvent, your 12-seed recovery phrase will allow you to recover assets.
How much does it cost to transfer Crypto to Trust Wallet?
It is possible to customize this fee. In addition to the fees charged by third-party exchanges, Trust Wallet charges a 1% fee to purchase cryptocurrencies within the app. In order to waive this fee, the user must hold a minimum of 100 native $TWT tokens deposited into their Trust Wallet accounts.