This post shows you how to Send Bitcoin From Blockchain To Coinbase. This is part five of our series on paper wallet generation and security.
You can find the other parts of the series here:
Additionally, there are two related posts on security for Paper Wallets.
In this final part, we show you how to convert your Bitcoin. Changing it from an online digital currency to dollars in your bank account.
Send Bitcoin From Blockchain To Coinbase
1. Login to your Coinbase account.
2. Go to Accounts/BTC Wallet and Click Receive.
3. A warning box will appear warning you to only send Bitcoin to this address.
4. Click on ‘Show Address.’
5. The address you need to send your Bitcoin from your Blockchain wallet will pop up in a box with a QR code. Click on the small box on the right or scan the QR code to copy the key to the clipboard. A check in a green circle will appear to let you know you have copied it.
6. Login to your Blockchain account.
7. Click on Bitcoin in the left-hand sidebar.
8. Click on Send at the top of the page.
9. The Send Bitcoin box will pop up.
10. Choose which of your wallets you want to send the Bitcoin from in the From drop-down menu. I am using my Paper Wallet Ex. wallet in this example.
11. Paste the address generated from Coinbase in step 5 into the To box.
12. Set the amount of Bitcoin or USD you want to send and the corresponding box will show the conversion. In this example, 0.00100364 Bitcoin is worth $14.57 USD.
13. You can add a note in the Description box. This can be helpful if you do a lot of transactions.
14. Leave the Transaction set to ‘Regular.’ You can play around with this once you have more experience. This can be set to ‘Priority’ or ‘Customize Fee’ to make the transaction faster. The transaction fee will be higher. The fee for this transaction is $4.29.
15. Click ‘Continue.’
16. The Send Bitcoin box will appear. Check that all the amounts are correct. Most important of all, check that the address is correct. Always check it at least twice.
17. Hit Send Bitcoin and Blockchain will add a sent transaction to your account. A box will pop up and let you know your transaction is being confirmed.
*Be aware that transaction times can vary a lot. It usually takes no more than a few hours.
18. Click on the sent transaction and it will drop down to reveal a link to Verify on Blockchain. Click on the link.
19. A transaction page will pop up. You can see that the Transaction is also unconfirmed. It also shows the Coinbase address. If you click the green box it will alternate between Bitcoin and USD.
20. Once your transaction has gone through it will look like this one. The confirmation box will be blue to show confirmed and the Bitcoin sent.
21. Finally, go back to your Coinbase account. Check your Bitcoin wallet and make sure the coins you sent arrived. Click on the transaction in the ledger and this box will pop up. It shows the correct amount transferred to the account.
*There can be a lag between Blockchain and Coinbase confirming the transaction. Don’t panic, wait and they will both confirm.
22. You can click on view transaction and a Blockcypher page will appear. It also confirms the transaction.
You should always do a test transfer first. Send a small amount of Bitcoin that you would not mind losing. If that goes through Okay then you can send larger amounts.
If you do have a large amount to send you should split the transactions up into smaller chunks. That way you will not lose all your money if something goes wrong.
*Transferring Bitcoin from Blockchain to Coinbase will incur fees. The fee depends on the speed and size of the transaction. If you want it confirmed faster you have to pay more.