The Crypto industry is growing enormously. It stems from the fact that people are favouring crypto investments. Well, we can’t deny the fact that it is a completely volatile industry which always involves risks but apart from that several traders are making massive income out of it.
In this write-up, we will discuss the process of sending digital assets from the Coinbase wallet app or Coinbase wallet app. But, before moving on we will discuss the types of transactions.
On Coinbase com login you may transmit cryptocurrency either on-chain or off-chain.
To transfer money from the Coinbase platform to an external address on the blockchain, use on-chain sends. On-chain transfers are not reversible, once money is transmitted to the wrong address or on the wrong network, it cannot be retrieved by Coinbase. On-chain transfers are expensive and time-consuming processes.
You may transfer money to another Coinbase user using their phone number, email address, or username utilizing off-chain sends. Off-chain sends happen instantly and doesn’t cost any transaction fees.
Acknowledge the method of sending the digital assets
Using the Coinbase wallet extension
- Choose “Pay” from the left-hand menu on your Coinbase dashboard.
- Enter the desired quantity of cryptocurrency on the “Send” tab that you want to send.
- Select “Pay with”, then pick the asset you want to send.
- You may transfer cryptocurrency to someone by entering their phone number, email address, or crypto address.
- Post a note if you want to.
- Review the information by selecting “Continue”.
- Choose the network you want to transmit on when asked.
- Now click “Send” and you are done.
Using Coinbase wallet app
- Press the “Send” button available on the home or “Pay” section.
- Select the asset and enter the desired payment amount. You can choose to transfer a certain amount in either cash or cryptocurrency.
- Select “Continue” to check and confirm the transaction information.
- Choose a contact or input the email, phone number, crypto address, or QR code of the receiver.
- Type a note if you want, then press “Continue” to get details of the transaction.
- If applicable, choose the network you want to transmit on.
- Finally, select the option “Send now” to finish the process.
I have guided you through the complete procedure to send crypto through the Coinbase wallet extension as well as the Coinbase wallet app. All you have to do is follow the procedure thoroughly and implement every step properly and you will be able to send coins without any issues. There is a point to note that once you make a transaction successfully, you cannot reverse it, it is an irreversible process, and you cannot retrieve your money so be careful while entering the wallet address.