There comes a time when you may want to move your cryptocurrencies from one platform to another.
Two of the most popular platforms available to investors today are BlockFi and Coinbase.
BlockFi is a newcomer to the scene, founded in 2017. Coinbase, on the other hand, has been around since 2012.
Whatever your reason is for moving your crypto's, we will show you how. Here's everything you need to know in order to transfer crypto over from Coinbase to BlockFi.
If you've already opened up a BlockFi account, skip down to step 2!
Use the button above to earn up to $250 in free Bitcoin!
In order to open a BlockFi account, you are going to need your social security number, phone number, a valid ID, and a real-time selfie.
BlockFi also requires you be at least 18 years of age before signing up. There are also certain states where BlockFi is not allowed, such as New York.
You'll have to create a password, agree with their ToS, and then start verifying your identity. This will involve taking a photo of the front and back of your license.
Finally, once your records have been screened, you'll get an email saying you've been approved, and receive steps to log in. Usually it only takes a few minutes, but it can take up to 1-2 business days.
After your account has been set up, it's time to log in and start your deposit.
BlockFi currently supports Bitcoin, Ethereum, Chainlink, Litecoin, USDCoin, PAXG, DAI, Tether, UNI, BAT, and may be support more coins in the future.
Now, to move the actual crypto funds around, log into your Coinbase account.
These steps should work out the same whether you're on your phone or online.
Now your transaction will process, and it can take a few minutes to an hour. After processing, your deposit will be displayed in your BlockFi account!