Coinbase has over 90 million users all around the globe and is the largest exchange platform in the USA. The phantom wallet was recently developed and had over 3 million users.
Now coinbase has provided support for the Solana Ecosystem via the Phantom wallet. Quite a number of people are having doubts regarding their transfer of crypto coins and sol from coinbase to the phantom wallet.
In this article, we will answer all your basic doubts. The article highlights how to go about transferring Solana from coinbase to phantom wallet, the transfer time, the transfer fee and why is your coinbase not working efficiently at times. Let’s get started.
Can You Transfer From Coinbase To Phantom Wallet
Yes, you can definitely transfer crypto coins or Solana from your coinbase to your phantom wallet. There is no barrier between coinbase and phantom wallet. The procedure, too, is pretty simple.
All you need to do is link your phantom wallet to your coinbase account, as simple as that and then get some Solana coins from the Solana network to your coinbase and then send it to your phantom wallet account address.
How To Transfer Solana From Coinbase To Phantom Wallet?
Step 1: Open Phantom Wallet
Firstly, from your desktop site, go to a web browser (chrome or firefox) and type on the search bar phantom wallet and download the wallet extension.
Secondly, after you have downloaded the extension, click on the icon next to your profile icon and look for the Phantom Wallet extension. Tap on it.
For Firefox users, the downloaded phantom wallet extension will be on your browser window at the top right corner of the page.
Step 2: Tap On Deposit
open the phantom wallet extension and either create an account(if you have not done so previously) or simply log in to your phantom account by entering your email address and password. And then, you will get two bars on your main screen, Deposit and Send, and tap on the deposit present on the left side.
Step 3: Type Coinbase On The Search Bar
Thirdly, on tapping deposit, you will see a search bar on top. Subsequently, type there “Coinbase” on the search box appearing on the main screen. Tap on it and then click on the coinbase exchange platform.
Step 4: Copy The Wallet Address
And then, copy the text(wallet address) shown on the screen either by clicking on the purple bar with a copy, or you can simply scan the QR code.
Step 5: Open Your Coinbase Account
after you copy the address, go to your coinbase account on its website, sign in or log in to your account by filling in your password and email.
Step 6: Transfer Or Deposit Solana
Now, you will have to tap on the send or receive option. You will then have to paste the address of your Phantom wallet that you copied earlier. After this, you will have to type the amount of Solana that you wish to transfer.
Step 7: Tap On Send
Now that you have to send Solana, you will have to choose the same in the currency option. After that, tap on the send now option.
Step 8: Confirm The Transaction
When done, in case you have enabled two-step verification, confirm your transaction and then check your Phantom wallet to see if you have received the crypto in your account or not.
For mobile applications, the steps are quite similar. All you have to do is open your coinbase wallet app, tap on the portfolio option and then search the SOL you have to send and choose the amount.
And then launch your phantom wallet app/website, tap on deposit and copy the wallet address and then simply paste the copied address in your coinbase account and then tab on confirm after entering the verification code and then lastly click on send.
Can You Transfer USDC From Coinbase To Phantom Wallet
Yes, you can transfer USDC from coinbase to your phantom wallet account.
There are not many steps involved in its process. You just have to buy the USDC via coinbase from the SOL ecosystem, copy the address of your phantom wallet and then paste it into your coinbase account and then transfer it with your desired amount of USDC.
After you click on send, you will successfully receive your USDC on your phantom wallet account.
Make sure you do not cross the limit of USDC set by coinbase while you transfer the amount to any digital wallet.
Coinbase To Phantom Wallet Transfer Time
In general, transferring from coinbase to phantom wallet takes almost 24 to 36 hours to complete the transfer process successfully.
If you are transferring for the first time from coinbase to the phantom wallet, it may take a three days time period, which means it will take roughly 72 hours to complete the transaction.
Once you become a regular user, you will not face such an issue of waiting for 2 to 3 days to complete your transaction.
It will only take a few seconds to transfer your crypto or Solana coins from coinbase to your phantom wallet.
If you compare the time needed to transfer from phantom wallet to coinbase, it is comparatively low when compared to sending sol/crypto from coinbase to Phantom.
Coinbase To Phantom Wallet Transfer Fees
To transfer any crypto coins from coinbase to any digital wallet account, coinbase takes a flat of one per cent for transferring crypto coins.
Coinbase charges a good sum of MINER fees for both SOL and other crypto coins for sending it to any digital wallet address that is linked to the coinbase exchange platform.
One point that needs to be noted here is that Coinbase has clearly stated that they don’t charge any transaction fee when transferring cryptos to any external wallet address.
What it charges are the miner and other additional fees. There is no or zero transaction fee charged by coinbase.
Coinbase To Phantom Wallet Not Working
Coinbase to Phantom wallet may not work if you do not have enough Solana or another crypto in your coinbase wallet to cover up the network/transfer fee, or it can be due to high traffic in the network or blockchain.
Let us see in detail what can be the basic and the other reason why your coinbase is not working with the phantom wallet. They are:
1. Not Enough Amount Entered
If you have filled in a specified amount for your Solana or other crypto coins to transfer them to your Phantom’s wallet, and if they are not enough or the needed balance for the transfer process, then your coinbase may not work.
2. Network Traffic
When you buy Solana or USDC/ETH from their respective blockchain, they may show that it has been purchased, but when you try to transfer it to your phantom wallet, you won’t see any progress.
This is because if the blockchain is facing high traffic, it will take time for you to withdraw(buy) the coins.
3. Uncleared Cache
Another reason why your coinbase is not working is due to the fact that you have an uncleared app or browser cache on your mobile phone or desktop site.
Make sure you clean or delete the Cache and data from both the web version and application.
4. Outdated Operating System
When you miss out on taking an update, your iOS device or android phone may be outdated to operate efficiently with your coinbase account or phantom wallet.
Go to the google play store or app store to check if you have any pending updates.
5. The Server Is Down
When the server is down or the database has crashed, the operations of coinbase or phantom wallet may stop working for some time.
You don’t have to worry about this. Wait for a few hours or two days(max time) for the server issue to be resolved.
6. Technical Problem
Sometimes, you cannot blame your OS or the database of either of the wallet.
It may be a simple bug or a glitch in your coinbase/phantom wallet software that is creating a hurdle for them to work efficiently.
You can send(transfer) your cryptocurrencies from your coinbase to your phantom wallet account easily. The above steps will guide you on how you can send your Solana coins from coinbase to phantom wallet.
Coinbase does take a lot of time when compared to other exchange platforms to transfer cryptos. Although coinbase has made zero transaction fees, it charges a sum of the amount as miner fees.
There are a handful of reasons why your coinbase with your phantom wallet is not working.
The basic needs you have to check before transferring to check if you have high-speed internet, and updated software version and enough balance to cover the fees.
If you have further doubts regarding your coinbase account, you can always contact the coinbase support centre. Here’s the link https://help.coinbase.com/en.