How To Transfer Your Crypto From Coinbase To Coinhako

Last updated on June 6th, 2021

You may have some crypto assets on Coinbase’s platform.

However, Coinbase no longer partners with Xfers. This means that you can’t withdraw your crypto from Coinbase to SGD!

As such, you’ll need to find a crypto exchange that supports SGD for you to cash out your profits.

One of these platforms is Coinhako, and here’s how you can transfer your crypto to this platform.

How to transfer from Coinbase to Coinhako

Here are the steps you’ll need to transfer your crypto from Coinbase to Coinhako:

1. Go to ‘Send/Receive’ on Coinbase
2. Select the cryptocurrency you wish to withdraw
3. Enter the amount that you wish to withdraw
4. Go to Coinhako and retrieve the wallet address
5. Enter the wallet address on Coinbase
6. Receive the crypto in Coinhako

Here is an example of how you can send Bitcoin from Coinbase to Coinhako using this method:

#1 Go to ‘Send/Receive’ on Coinbase

On Coinbase’s platform, you will need to go to the ‘Send/Receive‘ section.

#2 Select the cryptocurrency you wish to withdraw

Once you are there, you’ll need to select the currency that you wish to withdraw.

You can only withdraw currencies that are supported by Coinhako.

If you own certain currencies like EOS on Coinbase, you’ll have to swap it to another currency, like Bitcoin.

If Coinhako does not support a certain currency, you would not be able to send that currency over from Coinbase.

#3 Enter the amount that you wish to withdraw

You’ll need to enter the amount that you wish to withdraw.

Alternatively, you can choose to send all of your cryptocurrency.

#4 Go to Coinhako and retrieve the wallet address

You’ll need to go to Coinhako’s platform to retrieve the address that you should be sending your currency to.

When you are on the desktop platform, you’ll be able to see your wallet.

You’ll need to scroll to the currency that you wish to withdraw, and click on ‘Receive‘.

Coinhako does not allow you to receive certain currencies on their platform, such as:

1. ADA
2. BNB
3. SOL
4. THETA
5. XMR

For these currencies, the ‘Send‘ and ‘Receive‘ buttons will be greyed out.

When you’ve selected the currency of your choice, you will be given an address to send your currency to.

There are 2 ways that you can copy this address:

1. Scanning the QR code
2. Copying the wallet address

However, Coinbase does not allow you to scan the QR code to retrieve the address. This means that you can only copy the wallet address.

When you’re copying the address from Coinhako, you may want to double check the address before you send your crypto over.

If you miss out any number or letter, your crypto will be lost forever!

You can only send a currency that matches the wallet

When you are sending out your crypto, you can only send it to an address that is able to receive that currency.

For example, when you are sending out your Bitcoin, you can only send it to a wallet address that accepts Bitcoin.

If you send it to an address that only accepts another currency, your crypto will be lost too!

#5 Enter the wallet address on Coinbase

You’ll need to paste the wallet address that you’ve copied from Coinhako into Coinbase.

You may want to double check your wallet address before confirming the withdrawal!

#6 Receive the crypto in Coinhako

Once the withdrawal has been approved, it may take a while for the transaction to go through.

This really depends on how active the network is at the point of your withdrawal request.

As such, you may need to wait a while before you can receive your crypto on Coinhako.

Once you have received your crypto on Coinhako, you are able to sell it for SGD!

Conclusion

When you are sending your currencies from one platform to another, you’ll need to take note of the network fees.

These fees are usually dynamic, and depends on how heavy the traffic is on the network.

Coinhako a platform that is able to receive 21 tokens on their platform. Moreover, they have a direct SGD trading pair with all of these currencies.

This means that you’ll be able to sell them off directly for SGD!

Even though Coinhako charges a higher fee compared to other crypto exchanges, it may be worth it for this convenience.

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