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Written by Ryan Scribner on November 30, 2023
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How To Transfer From BlockFi To Coinbase 2024

On November 11th 2022, BlockFi suspended withdrawals from the platform and discouraged new user deposits. This guide was written prior to the suspension. Please refer to the official BlockFi website for more information.

If you currently have crypto assets with BlockFi and are looking to transfer them over to Coinbase, the process is very simple and straightforward.

Whatever your reason is for making the switch, we will show you how to transfer crypto from BlockFi to Coinbase step by step!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

Introducing Robinhood Retirement; home of the biggest IRA match on the market.

Robinhood IRA Boost

Here's what you need to know:

  • Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
  • All Robinhood investors will get a 1% Match on what they Contribute or Transfer
  • Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

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1. Open A Coinbase Account

The first step is to open a new Coinbase account if you don't have one already.

Trade cryptocurrency with Coinbase

With Coinbase, users can easily buy, sell, transfer, and store crypto.

Coinbase allows users to store coins for free on the platform, however they do collect fees on crypto transactions. This fee ranges based on the size of the transaction.

You are able to trade over 100 different cryptocurrencies over on Coinbase, with new additions every few weeks.

2. Verify Your Coinbase Account

In order to send or receive crypto, you will need to verify your Coinbase account.

This verification is done through uploading a copy of your driver's license or other state issued ID:

  1. To do this, you will click "Send/Receive" once logged into Coinbase
  2. A popup will appear that prompts you to upload a photo of your ID
  3. This can take 1-2 business days to complete

If the images are clear and match your information on file, your account should be verified in minutes.

3. Gather Necessary Information

In order to transfer crypto out of BlockFi, you will need an address to send the crypto.

Finding this wallet's address in Coinbase is easy:

  1. Determine what type of crypto you are sending from BlockFi to Coinbase
  2. Find the cryptocurrency on Coinbase and click "Send/Receive"
  3. A popup will appear with a QR code and the wallet's address
  4. Copy this address with the "copy" function on your phone

Keep in mind, BlockFi only offers 1 free withdrawal per month from the interest account. You may want to consolidate all of your crypto together before sending it.

4. Withdraw From BlockFi

Here are the steps to withdraw crypto from BlockFi:

  1. Click "Withdraw" once logged in to BlockFi
  2. Select the cryptocurrency you would like to withdraw
  3. You will then select which wallet you would like to send to
  4. If you selected "New Wallet," then you will need to paste in the new wallet's address
  5. After pasting in the address, click "Review"
  6. After reviewing the withdrawal for accuracy, you will click "Confirm"

Be advised that any withdrawal with BlockFi will take one business day and will be processed by 8:00pm on a weekday.

Article written by Ryan Scribner
Ryan Scribner is the Co-Founder of Investing Simple and author of the personal finance book ‘From Side Hustle To Main Hustle To Millionaire’ (available on Amazon and at Barnes & Noble). He is recognized as a Top 100 Money Expert by GoBankingRates. Ryan Scribner runs a successful YouTube channel focused on money and investing, which he started in 2016. Scribner was exposed to the finance world early on with a dad who is a financial advisor. Before he started his YouTube channel, he was working and making a surplus of money which he began investing on his own. Then he started to document it on his YouTube channel, before launching the Investing Simple blog in 2018. Ryan Scribner has used his own experiences with money to show others what he’s done to be successful so that they can learn from it. He has been featured in The Wall Street Journal in a publication on The Financial Gurus Millenials Listen To. In addition, Ryan Scribner has been featured in MarketWatch, Business Insider and Forbes - where he was recognized as the #1 Must Watch YouTube Channel For Making Money. In recent years, Ryan has become an angel investor across numerous startups. This includes fintech platforms such as Yotta, Mesh Connect and Commonstock - recently acquired by Yahoo Finance. Beyond that, Ryan has equity investments in a veteran-led cybersecurity company Netrise, as well as Beacons - an all-in-one builder tool for creators. Today, Scribner lives in South Florida - teaching others how to build wealth and “semi-retire,” without sacrificing your life to a 9-to-5.

Read more

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Get 1 Free Stock Worth Up To $200 From Robinhood!

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Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

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