eToro was introduced in 2008 to investors in the United States, and nowadays, it is one of the best cryptocurrency exchanges. Coinbase is also a very renowned cryptocurrency company that operates cryptocurrency exchange platforms. A huge number of people use both of these.
If you are one of them, you might need to transfer currencies from eToro to Coinbase. This article describes how to transfer from eToro to Coinbase.
Do you want to know which one is best between eToro and Coinbase? Click on eToro vs. Coinbase to figure out the best cryptocurrency platform.
How to transfer from eToro to Coinbase?
You can only transfer supported cryptocurrencies from eToro to another external platform like Coinbase. For doing this, you have to use an application named eToro – a mobile app available for both Android and iOS.
Let’s know the transfer process.
First, you need to install the app mentioned before on your phone. After installing it, sign in to your trading account using your credentials. Here, just a username and password are needed to sign in. After successfully signing into your trading account, jump into the next step.
After entering the money app, you will get two distinct options. The first one is ‘crypto,’ and the second is ‘trade.’ By clicking on the crypto tab, you will easily know what coins you are holding right now in your wallet.
It can be Bitcoin, Ripple, Ethereum, Litecoin, Bitcoin Cash, and Steller. If you go to the trade tab, it will show you all of the coins that you hold in open trade on the eToro trading app.
These obviously don’t reside in your wallet. So, here if you want to transfer any of these across to your Coinbase account, the first thing you have to do is, get them into the wallet by using the eToro money app.
If you currently have the coin not available in your wallet (which will be shown in the crypto tab), then the situation will be complicated. You need to sell out of those trades and purchase a coin available in your wallet.
As we mentioned before, Bitcoin, Ripple, Ethereum, Litecoin, Bitcoin Cash, and Steller will be available in your wallet. So, you have to buy into one of these. After that, you will be able to transfer your coins from eToro to your Coinbase account.
So, now go to your trading account through your phone app or computer and choose an available coin, for example, Litecoin.
Now click on Litecoin there. After that, you need to click on any individual trade (Edit trade), and you get an option that is “Transfer to Wallet.”
Click on the Transfer to Wallet option. After entering this option, it will show you how many units will be transferred, the fees of the transaction, and the net units. On that page, you will get the option “Transfer.” Just click on it.
Open the eToro money app and go to the crypto option. You will see a wallet created, and the coin you have transferred right now will be residing there. As you have transferred Litecoin, a Litecoin wallet will be shown there.
Now you have to go to the Coinbase app, which should be on your phone, and click on the receive crypto option. After that, you will have a watchlist that you need to select.
You will get there a select asset option for it. So, change to Litecoin as you have chosen this coin before. It can be any coin that is available in your eToro wallet. Now you will get the wallet address on that page. Just copy the address.
Go to the click eToro money app and click on the Litecoin wallet from the crypto option. Then click on the send option, provide the amount, and paste the address you just copied. Now click on the send option. Your process is done.
Here, a few things should be mentioned. First, you will have to pay two sets of fees here for transferring your coin from the eToro to Coinbase.
After that, you have to wait for a few days to conduct the transfer process in a few cases successfully. If your account is funded with your USA bank account, it will take 7 days to transfer.
If it is a debit card, then it will take 60 days. Besides that, this transfer will be one way. That means you will not be able to back your coin to the eToro again.
So, these are mainly the step-by-step process of how to transfer from eToro to Coinbase. You just follow this process to transfer your coin the way we have shown here. Do you know any other method?