Coinbase is one of the largest and most popular cryptocurrency exchanges in the world, providing a platform for users to buy, sell, and store a variety of digital assets.
If you are new to the platform and wondering how to deposit money into Coinbase, this guide will provide you with step-by-step instructions for depositing cryptocurrency and fiat currency.
Before you begin depositing cryptocurrency on Coinbase, it's important to confirm if your asset is supported.
Once you've verified that your asset is supported, follow these steps to deposit crypto funds on Coinbase Exchange:
You can view your completed deposits and withdrawals from the Portfolios tab. Keep in mind that assets deposited or withdrawn to the wrong address or unsupported network may be permanently lost.
If you want to deposit fiat currency like USD, Coinbase offers several options, including Fedwires, international wires (SWIFT), and ACH transfers.
However, standard US bank transfers (ACH) are only available to US-based clients.
Depositing via Fedwire is the recommended method for US-based clients who want to fund their Coinbase accounts with USD.
To initiate a deposit via Fedwire, follow these steps:
The name on your bank account must match the name on your Coinbase account.
Once the funds reach your account, your bank account will automatically be verified.
Please note that there are no deposit maximums, and your funds will typically appear in your account up to one business day after you’ve sent them. There is a $10 deposit fee for Fedwire.
International wires are only available to non-US/non-EU clients who need to fund their Coinbase account with USD from their non-US SWIFT enabled bank.
To deposit using SWIFT, follow these steps:
The Reference Code must match exactly in order to correctly credit your account.
There is a $25 deposit fee for SWIFT.
ACH transfers are only available to US-based clients.
To initiate a deposit via ACH, follow these steps:
If you are a non-US or non-EU client and you want to fund your Coinbase account with USD from your non-US SWIFT enabled bank, you can deposit using International Wires. To activate this feature, you will need to request it after confirming that you have a valid W8 form.
Before making a deposit using International Wires, it is recommended that you make an initial verification deposit of $50 to your Coinbase Exchange USD wallet. You can also make a small withdrawal to ensure that the transactions are working correctly.
To deposit using International Wires:
Note that the reference code must match exactly to credit your account correctly. There is a $25 deposit fee for SWIFT deposits.
Cryptocurrency deposits are unlimited on Coinbase, but fiat deposits are limited by payment method.
For example, if you deposit fiat currency via Fedwire, there are no limits, but if you deposit via ACH transfers, your deposit limit will be based on your weekly bank transfer limit.
To see your weekly bank transfer limit, visit your Limits page on Coinbase.
In conclusion, Coinbase offers several deposit methods for both cryptocurrency and fiat currency.
To deposit cryptocurrency, you need to confirm that the asset you want to deposit is supported and then follow the appropriate steps.
For fiat currency, you can use Fedwire, International Wires, or ACH transfers, depending on your location and the payment method available to you.
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