Coinbase is a popular cryptocurrency exchange platform that allows its users to buy, sell, and store various digital currencies such as Bitcoin, Ethereum, and Litecoin. One of the most important features offered by Coinbase is the ability to send and receive Bitcoin. In this article, we’ll take a closer look at how to send Bitcoin on Coinbase.
Step 1: Create a Coinbase Account
The first step is to create an account on Coinbase. To do this, visit the Coinbase website and click on the “Sign Up” button. Next, enter your name, email address, and password. You will also need to verify your email address by clicking on the verification link sent to your email.
Step 2: Add Bitcoin to Your Coinbase Wallet
Before you can send Bitcoin on Coinbase, you need to add some Bitcoin to your Coinbase wallet. To do this, click on the “Accounts” tab and then select the “Bitcoin” wallet. Next, click on the “Receive” button and copy the Bitcoin address provided. You can then use this address to transfer Bitcoin from another wallet or exchange to your Coinbase wallet.
Step 3: Click on the “Send” Button
Once you have Bitcoin in your Coinbase wallet, you can send it to anyone with a Bitcoin address. To do this, click on the “Send” button on the Coinbase dashboard. Next, enter the recipient’s Bitcoin address and the amount of Bitcoin you want to send.
Step 4: Verify the Transaction Details
Before you can send the Bitcoin, Coinbase will ask you to verify the transaction details. This includes the recipient’s Bitcoin address, the amount of Bitcoin being sent, and the transaction fee. It’s important to double-check this information to ensure that everything is correct.
Step 5: Confirm the Transaction
After verifying the transaction details, click on the “Confirm” button to send the Bitcoin. Coinbase will then ask you to confirm the transaction using two-factor authentication. This can be done by entering a code sent to your phone or via the Coinbase mobile app.
Step 6: Wait for the Transaction to Complete
Once the transaction is confirmed, it will be added to the Bitcoin network and will take some time to be processed. The time it takes to complete a Bitcoin transaction can vary, but it usually takes between 10 minutes to an hour.
Conclusion
Sending Bitcoin on Coinbase is a relatively simple process that involves creating an account, adding Bitcoin to your wallet, and then sending it to a recipient’s Bitcoin address. It’s important to verify the transaction details and confirm the transaction using two-factor authentication to ensure that the Bitcoin is sent to the correct recipient. Overall, Coinbase is a user-friendly platform that makes it easy for anyone to send and receive Bitcoin.