This will be a walk thought of a small transaction from my Coinbase account to my Incognito Privacy Wallet. I currently maintain basically a zero balance on Coinbase as I only use this account to purchase my Crypto and then immediately transfer it wherever I want those funds to go.
Please read this tutorial before making a deposit just to minimize possible mistakes.
I will need to fund my account for this ETH purchase. I have done the KYC process so I will fund my Coinbase account with my bank account so I can make this Crypto purchase. I will be buying ETH and then transferring it to my Incognito wallet âAccount 0â under the âAssetsâ tab in the app. I do not hold any crypto in my âAccount 0â it all goes to staking once itâs with Incognito.
Open your coinbase account on your browser, or use the app. (I am going to use the app for the walk though in this tutorial) You will see your account home page.
If you do not have an account - you can open one here it is free to open an account and you can actually earn free Crypto from Coinbase by being a member. Kinda a nice perk!
Alright, now I will assume you already have a balance in your coinbase account that you would like to move to your Incognito privacy wallet. In my case, I will transfer all my ETH to my Incognito privacy wallet. To begin transfer of your ETH from Coinbase to Incognito click on whichever coin you are transferring, were using ETH. in the center bottom of the screen, you see a blue button with â â type arrows open that button and you get this screen.
We are going to be sending Crypto so click the âsendâ tab.
You will then see the following screen.
In my case, I am sending all my ETH from Coinbase to my Incognito wallet. You choose how much you want to send. Click âcontinueâ to bring up this screen
PLEASE note! Make sure you send your ETH held in your Coinbase account to your Incognito walletâs generated ETH deposit address! You find this address by opening the âAssetsâ tab. Click on âshieldâ this will bring up a list of coins you have addresses already created to make deposits to (if a coin is not listed here, you can add it) For this transaction we of course want to make a deposit from one ETH wallet (Coinbase) to another ETH wallet (Incognito) so scroll to where you see Ethereum in your list. You can also simply click the âShieldâ button, and scroll to Ethereum as well. Either way will bring you to this screen.
This generated deposit address can only be used for one transaction. You will have to generate a new deposit address in case you want to deposit multiple ETH amounts.
You see a countdown timer. Do not worry about this. I have never had any transaction take any longer than 40 minutes to confirm, and transfer from Coinbase to my Incognito wallet. Just my experience. ETH transactions tend to be slowest. Copy your (Not mine in the pic! Its incomplete anyway) wallet address from your incognito wallet back into you âsend toâ wallet address in you âSendâ window on Coinbase.
Please make sure if you are doing ETH transactions, to have GAS fees covered/accounted for. Gas is not a transaction from Incognito just so were clear.
I am going to track exactly how long this transaction took for a working example in the tutorial. Please note. I generally purchase Bitcoin, due to the ETH blockchain, I do expect ETH transactions to be a bit slower. Especially during congested times like currently going on. Personally, maybe itâs because I am older and I remember a time before we all expected everything immediately! So I am fine with waiting a bit for the transaction to confirm. Just like being an active trader, sometime patience is worth the wait!
Coinbase transaction from my ETH deposit to my Incognito wallet started at 10:59AM
@ 11:10AM pending[4]
@ 11:22am pending [5]
@ 11:28AM transfer complete!
If you wish to move your ETH around in your Incognito Wallet (for example, to trade or stake) you will need to have a tiny amount of PRV to cover fees.
I am no editor by trade, so I really hope this is clear, and really does help!