In this article, you are going to learn how to send crypto from popular exchange coinbase.com to your ledger hardware wallet. Basically, this article will teach you how to send crypto through centralized exchanges to your ledger nano wallet on both a computer and a smartphone. This will work for any ledger device, which is the SE, the X, and the new SE plus. We, however, are going to use ledger nano X in this tutorial.
How to send crypto from Decentralized exchanges like Coinbase to your Ledger Wallet through a Desktop: A Step-by-Step Guide
First, you’ll need an account from whatever centralized exchange you buy your crypto. Now, some people use Binance, Remitano, Crypto.com, etc. in this case we will be using coinbase.com
Second, you must have set up your ledger device (that is, your ledger wallet needs to have been set). You need to be aware that you will get a 24-word seed phrase when you set it up. Do not put that anywhere besides a physical device or you could get scammed or hacked. You get right?
GET THE LEDGER LIVE APP UP
The first thing you need to do is to get Ledger live up on your computer. Again, I’m assuming that you have the Ledger set up already with the Ethereum app installed or whatever blockchain crypto that you want to send to. We are using Ethereum as an example because the currency we want to send runs on the ethereum blockchain. That is, USDC runs on the Ethereum network.
GO TO ACCOUNT
Switch your Ledger Live on, navigate to account. On the account page, select Ethereum account or whatever account (blockchain) the crypto asset you want to send runs on.
The next thing to do is to select receive. What you want to do is to grab the receiving address. You want to do this
( grabbing the receiving address ) because, for you to successfully send a crypto asset, you will need to know where we’re sending it to. After grabbing the receiving crypto address, the next thing to do is to click Ethereum or whatever blockchain account or wallet you have added and want to send your crypto asset to. Then, click receive and then you’ll see a warning like this.
Go ahead and click Continue. The Ledger Live app (on your PC) is going to ask you to verify your address on the ledger device. Go ahead and start the verification process by grabbing your ledger device. Your ledger device will ask you to verify the address also. Click the right button and make sure that the address displayed on your ledger device screen matches the address that is shown on your PC.
“Please only send Ethereum or Ethereum tokens to Ethereum accounts. Don’t send it on the raw network or you might lose your crypto”.
SAVE OR COPY ADDRESS
Once that is done, you need to take the verified address, copy and save it down somewhere. You could copy through notepad, Apple notes, etc.
Now, for some people, this might be a little confusing because people always say, “don’t store things about your wallet anywhere online or on cloud accounts. But it’s okay to do this because this is a public address and with this alone, no one can steal your crypto. They can only steal from you when they have things like your seed phrase or your private key. So you can store this anywhere you want for easy access. If maybe you naturally have OCD, are traditional, and like to do things the hard way, you can still copy it offline. But, be certain of what you are copying down.
FINISH VERIFICATION ON NANO LEDGER
After copying the address. Finish the address verification by going back to your ledger device and clicking right again and clicking approve immediately after. After that is done, go back to Ledger Live (your PC), it’ll say address shared successfully. Let us go on and click done.
Because, we now have an address on ledger live, that is, where we need to send our crypto asset. We can send our crypto assets to that address.
Send your Crypto from Coinbase into a Ledger Nano Wallet.
Go To CoinBase
Let us go ahead and send the actual crypto to a ledger wallet. We are going to be using Usdc on Coinbase.
The first thing you need to do on coinbase is to click on assets. For you to send crypto to any wallet, you first have to have crypto. Select the crypto you desire to send, in my case, I’m using usdc. So, let us go ahead and click send and receive. Because I want to send, I’ll select send usdc.
You’ll first want to do a test transaction. Running a test transaction is always a good thing to do when you’re sending to an address for the first time. Even Vitalik Buterin, the creator of Ethereum, tests transactions to this day and recommends that everyone do this. Many investors have lost millions of assets because they didn’t apply this principle. If it is still not clear, the test transaction demands the sender send only $1 worth of his asset. To confirm whether or not the address he is sending the asset to is the right one.
So, we’ll first send $1 worth of usdc, applying the test transaction principle. The ‘To’ option is going to be that address that we verified and saved earlier. So, go ahead and just copy it from wherever you saved it. And paste it on the empty ‘to’ field. one more time if we need to. Make sure that it is correct.
Go ahead and click continue. If you are sending an ethereum backed crypto assets, you’ll be charged a network fee. Other blockchains have their network charges but Ethereum is the most expensive. Polygon is free.
With that said, let’s go ahead and click “Send now”.
If you enabled a two-factor code on coinbase. It will ask for your 2fa code. If you do not have a 2fa code. It will send it automatically. Usually, it takes about 10 minutes to complete (again depending on the blockchain)
So, if you go over to the Ethereum account that we had just created on ledger live.
Scroll down, you’ll now see that there are ‘tokens’. There is one usdc now in the account, so looks like it made it in. Now that you know that it works, you can go in and send as much usdc to that address as you want.
So now that we’ve done this on the desktop. let’s go ahead and show you how to do it on mobile.
How To send Crypto From Coinbase Mobile App to Ledger Wallet
If you want to send crypto from coinbase to your ledger wallet through your phone, the first thing that we’re going to need to do is to get the address.
So, head over to accounts (on ledger live with your phone) and scroll down.
You’ll see a bunch of wallets you already created.
Now, sync this address from your desktop app. Syncing is basically, just scanning a QR code from your phone.
Click into whatever wallet/blockchain your token runs on. Because we want to receive, hit the ellipses button and then hit receive and you’ll see that there’s an error. This error will occur because you don’t have your ledger device on.
You saw how to do it earlier, how to verify and addresses. So, we’ll just click out of that one. Most of the time there’s an option to say, continue without my device.
It is recommended you verify every address with your ledger device. But if you’re confident that the address is working, you can skip it.
You’ll see that we have the address show up with both the QR code and the actual address string itself.
Go ahead and click the copy address button a couple of times just to make sure that you got it.
Thereafter, go ahead and save this in a place that’s very easily accessible for you later on.
Now you got the ledger live address through your mobile phone.
Go to your Coinbase.
The first thing you need to do on coinbase is to click on assets.
Select the crypto you desire to send, in my case, I’m using usdc. So, let us go ahead and click send and receive. Because I want to send, I’ll select send usdc.
We’ll send one again just as a test transaction, just in case you never know. Then go ahead and click Continue and then sometimes it’ll just automatically paste the address in, but if not just tap on the little field there and then go ahead and click paste or not. It might also show up with this paste from the clipboard button. So go ahead and tap that. There you go. Okay, cool. Make sure that the address is right. Looks right so far. So let’s go ahead and preview this end. Right. This isn’t going to send it yet. All right. So to address that looks right.
And you can go ahead and do like one of these guys and compare it back and forth if you need to. That looks right. Don’t need to send a note. You’ll see the network fee is now $5. So honestly, still pretty good. Okay, let’s go ahead and send this. So let’s look send now again it’s going to ask me for my FE code since I set that up. If you didn’t send it up, it won’t ask you. But I’ll go ahead and grab that and type it in OC and it says successfully sent. So let’s give it another minute or two. Okay. I just switch back over to check and it’s already there.
So as you can see here, we now have two usdc in our account. So that’s very cool. So that’s it.
That is all you need to do to send crypto to your ledger. Thank you.