June 20, 2022 - 5 min read
For those new to the cryptocurrency world, the wallet address is a crucial component of cryptocurrency transactions. The wallet address is used to send and receive funds. Each cryptocurrency exchange has its own wallet address. Additionally, the wallet addresses for various cryptocurrencies are typically different from one another.
If the user sends them to the incorrect address, the user may lose their money. The company constantly reminds customers to verify and double-check the wallet addresses they are sending to safeguard their funds. Therefore, if the user wishes to sell, transfer, or create anything, they must pay close attention to the sender’s address.
You can use the mobile app or the official website to discover your Coinbase wallet’s address.
1. Sign in with the Coinbase credentials
The user must initially login to their Coinbase account using their credentials (username and password). Then, locate and tap the double icon to proceed. By following the app’s instructions, the user cannot make a mistake.
2. Select Receive
After tapping the icon with two arrows, a navigation drawer will appear. On the navigation drawer, there are multiple options, including “Buy”, “Sell”, and “Convert.” The “Receive” option is located at the bottom of the navigation drawer. The “Receive” option enables users to receive cryptocurrency from another wallet into their Coinbase wallet. Tap “Receive” to access the address of their cryptocurrency wallet.
3. Choose the asset the user wishes to acquire
As soon as the user clicks receive, a screen displaying the various crypto assets supported by Coinbase appears. The user will search for the desired cryptocurrency and click on its name. Without knowing the coin’s name, the user will likely send the wrong coin, and the transaction will not be reflected in their wallet.
4. Copy the address of the cryptocurrency wallet
The user’s wallet will generate a unique key when the user clicks on its crypto wallet address, be it a Bitcoin address, an Ethereum address, or any other available wallet address. The user only needs to copy the wallet address and send it to the intended recipient of the crypto asset.
If a user primarily uses their Coinbase account on a personal computer or desktop computer, the user can locate any of their Coinbase wallet addresses by taking the following steps:
The user must open the Coinbase website in their web browser before initiating any transaction.
Once the user clicks the link, they will be redirected to the Coinbase sign-in page, where they can enter their credentials (email and password). If the user owns the computer, they can check the “keep me signed in” box; otherwise, they are advised not to for security reasons. If their 2-factor authentication is enabled (as it should be), the engine will send a 7-digit PIN to the user’s registered phone number. Enter the PIN and click “verify.” It is solely up to the user to mark the box below to verify. It depends on the user’s perception of their account’s security.
The user must locate the address tab, which contains all the information regarding their wallet.
The user can share their wallet address by simply copying it, or they can share the QR code generated by the platform. Both methods will work. The user can select a different cryptocurrency by clicking All Assets near the top of the page. Next, choose the cryptocurrency the user wishes to receive, and copy its wallet address.
Ensure that you have completed a test deposit before receiving cryptocurrency from someone. If a user sends cryptocurrency to an incorrect wallet address, you may lose the funds. Therefore, after the user shares their wallet address, they should request that the recipient send a small portion of the cryptocurrency first. For instance, if the individual is sending 0.01 Bitcoin, request that they send 0.0001 Bitcoin as a test. Once the transaction is complete, the user can request that the remaining 0.0099 Bitcoin be sent. This will reduce the likelihood of a failed transaction, which could be extremely costly.
The user may have multiple addresses associated with their account; they can use any of these addresses to receive Bitcoin or ETH, so long as the address type matches the desired cryptocurrency. The user can also add a label to their address book to keep track of their usage. From this perspective, the user can view a QR code that can be scanned or embedded on the website. Additionally, the user can sign a message with the address.
To level up and gain a deeper knowledge of all things related to the future of the cryptocurrency industry, check out the latest content in the Supra Academy section.
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