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In this guide, we’ll break down everything you need to know about connecting your Coinbase account to your MetaMask wallet.
Why would I want to connect my Coinbase account to MetaMask?
While there’s no way to directly connect your Coinbase account to MetaMask, many investors choose to transfer their cryptocurrency to MetaMask to interact with decentralized applications.
MetaMask allows users to easily interact with different decentralized protocols — including decentralized exchanges, NFT marketplaces, and even cryptocurrency games!
Can I connect my Coinbase with MetaMask?
At this time, Coinbase does not offer the option to directly connect your exchange account with MetaMask.
However, investors do have the option to transfer cryptocurrency from Coinbase to MetaMask and vice versa.
In addition, if you’re using Coinbase Wallet, you can import your account directly to MetaMask.
How to transfer your ETH from Coinbase to MetaMask
While you can’t connect your Coinbase exchange account to MetaMask, you can transfer your ETH and other Ethereum-based assets from Coinbase to take advantage of MetaMask’s features. Let’s break down how it works.
1. Open your MetaMask extension, then copy your public wallet address.
2. Log in to your Coinbase account on desktop.
3. Click the button labeled ‘Send & Receive’ on the top-right hand side.
4. Click ‘Send’. Then, enter your wallet address and the amount of ETH you want to transfer from Coinbase to your MetaMask wallet. Once you’re done, click ‘Continue’.
Pro Tip: At this time, MetaMask only supports Ethereum and ERC-20 based-assets. You cannot transfer assets built on other blockchains, such as Bitcoin.
How to transfer your crypto from MetaMask to Coinbase
At this time, MetaMask does not give users the ability to convert crypto to fiat currency. Because of this, many investors choose to transfer their crypto to another exchange if they wish to cash out their holdings.
Here’s how you can transfer crypto from MetaMask to Coinbase.
1. Log in to your Coinbase account.
2. Click the button on the top right labeled ‘Send & Receive’.
3. Click ‘Receive’. Then, select the relevant cryptocurrency you want to transfer for Coinbase, then copy and paste the relevant wallet address.
4. Log in to your MetaMask account.
5. Click the blue button labeled ‘Send’.
6. Copy and paste the address you received from Coinbase.
7. Enter the amount of cryptocurrency you wish to transfer, then hit ‘Next’.
How to import your Coinbase Wallet to MetaMask
It’s important to remember that Coinbase.com — the exchange — and Coinbase Wallet — Coinbase’s non-custodial wallet — are two separate applications.
Coinbase Wallet — similar to MetaMask — gives users custody of their own cryptocurrency and the ability to interact with decentralized protocols through a browser extension.
If you’re using Coinbase Wallet, you can import your account into MetaMask. Here’s how.
1. Find the private key for your Coinbase Wallet account.
2. Click the circle icon on the top-right corner of your wallet. Then, select ‘Import Account’.
3. Copy and paste the private key from your Coinbase Wallet account.
4. Now, you should be able to see your imported Coinbase Wallet account in your MetaMask dropdown.
Which is better, MetaMask or Coinbase Wallet?
If you’re looking to experiment in the world of DeFi and NFTs, you may be wondering which wallet is best for you — MetaMask or Coinbase Wallet. While both wallets are considered secure and allow users to self-custody their cryptocurrency, each one comes with its own benefits and drawbacks.
Why choose MetaMask?
At this time, MetaMask is the most popular wallet for interacting with decentralized applications. Because MetaMask’s code is open source, many say that it’s more aligned with the ethos of decentralization.
Why choose Coinbase Wallet?
At this time, Coinbase Wallets supports a much wider range of cryptocurrencies than MetaMask. While MetaMask supports ETH and ERC-20 tokens, Coinbase Wallet supports cryptocurrencies built on other blockchains such as BTC and Dogecoin.
Can the IRS track my MetaMask and Coinbase transactions?
Many investors believe that because cryptocurrency is pseudo-anonymous, their transactions on Coinbase and MetaMask cannot be tracked by the IRS.
This is not true. It’s likely that the IRS can track your cryptocurrency transactions.
Coinbase issues 1099 forms to the IRS and has in the past handed over customer information to the government after being issued a John Doe Summons. For more information, check out our guide: Does Coinbase Report to the IRS?
While MetaMask does not collect customer information, it’s important to remember that blockchain transactions are publicly visible and permanent. In the past, the IRS has worked with contractors to match ‘anonymous’ wallets with known individuals.
Frequently asked questions
How do I link my Coinbase with my MetaMask wallet?
While you cannot link your Coinbase exchange account with your MetaMask wallet, you can transfer your cryptocurrency between Coinbase and MetaMask.
Does it cost to send ETH from Coinbase to MetaMask?
When you transfer your Ethereum from Coinbase to MetaMask, you will have to pay relevant blockchain gas fees. The fee will vary depending on network demand at the time of the transaction.
Can I connect my Coinbase Wallet to MetaMask?
You can import your Coinbase Wallet to MetaMask using your private key.
Do I need MetaMask if I have Coinbase?
Coinbase.com and MetaMask serve different purposes. MetaMask allows users to interact with decentralized protocols such as decentralized exchanges and NFT marketplaces.
Frequently asked questions
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