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Written by Drew Cochran on April 19, 2022
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How To Transfer From Coinbase To Public 2022

The world of crypto seems to be in a continual boom. With so many current events changing the way the world works, crypto and Bitcoin have proven themselves through several stress tests, and investors everywhere are taking notice.

Because of crypto's popularity, there are hundreds of different crypto apps that function as trading platforms and digital wallets, all with their own unique features.

Coinbase is a great way to dip your feet into the world of crypto. With its clean user interface, and easy-to-navigate app, many crypto users find Coinbase as their 'first base' when investing.

However, sometimes you want to see all of your different investments in one place. Coinbase is a great crypto app, but it doesn't have any features that allow for users to keep track of the stock market, or invest in mainstream assets.

Public is a growing platform that allows for both stock and crypto investing, as well as being a great place for learning about investing in a social media format!

You might want to transfer your cryptos out of Coinbase into Public to take advantage of these features, but there's one problem that's been confusing people left and right:

Public doesn't currently offer crypto wallets with its accounts, and thus, users can't transfer their coins directly. Instead, you'll have to sell your crypto positions inside Coinbase, and rebuy them in Public. This can be a little frustrating, and it's easy to get lost in the weeds.

Today, we're going to be your travel guide, and help you carve a path to transfer from Coinbase to Public!

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How To Transfer From Coinbase To Public

Here's how to transfer your crypto positions from Coinbase to Public:

  1. Sell off the crypto you'd like to transfer inside Coinbase
  2. Sign up for Public
  3. Re-buy your crypto positions inside Public

Let's go through each step in depth.

1. Selling Off Your Crypto In Coinbase

Trade cryptocurrency with Coinbase

While this step can sound straightforward, there are a couple of things you'll want to keep track of before selling your crypto:

  • Take note of each of your crypto investments for reference when re-buying
  • Make sure the crypto you want to move to Public is supported by their platform
  • Capital Gains tax liability

At the time of writing, Public only offers trading with 25 of the top coins, including Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Shiba Inu,  Chainlink, and Litecoin. Check their list here to make sure they've got your coins.

As well as this, if you've made a profit with your crypto after selling them in Coinbase, you may be liable to capital gains tax implications.

Okay, with all that in mind, here's how to sell your crypto in Coinbase:

  1. From the main screen, click on the portfolio tab at the bottom
  2. Scroll through the menu and choose the coin you'd like to sell
  3. Click the "Trade" button
  4. Select the "Sell option
  5. Choose the amount you'd like to sell (probably "Max")
  6. Review transaction, and press "Sell Now" to confirm
  7. Repeat for each crypto you'd like to transfer

The money you receive from your transactions will enter your cash balance in your Coinbase account.

From there, you'll have to transfer your cash balance to your bank account.

On the app's main screen:

  1. Click the blue 'transaction' icon with the two arrows in the bottom center
  2. Choose "Add Cash / Cash Out" at the bottom of the menu
  3. Press the "Cash Out" button
  4. Enter the amount you'd like to withdraw from the available balance
  5. Make sure you're withdrawing to the correct bank account shown
  6. Press "Preview Cash Out" 
  7. Review transaction details, and press "Cash out now"

Withdrawing money from Coinbase usually takes around 1-3 business days before you can access the cash from your bank.

2. Signing Up For Public

Public Logo

Next, you'll have to sign up for Public if you haven't done so already. If you have, skip to step 3!

Use this link when signing up for a free stock slice, on us!

How to Sign up for Public:

  1. Download the Public app
  2. Click "Get Started"
  3. Provide your phone number and name
  4. Choose your username
  5. Provide your email address
  6. Create a strong password
  7. Choose to follow some new accounts
  8. Claim your free stock slice! (only works with our referral link)
  9. Confirm your citizenship
  10. Submit photo ID for fast-track verification
  11. Provide birthdate and personal information
  12. Accept Terms & Conditions if you agree
  13. Fill out investment goals questionnaire
  14. Make your first deposit by Linking your Bank

It may take a couple of days for your application to get approved.

3. Re-Buy Your Crypto in Public

Now that your Public account is set up, and the cash has settled from your Coinbase withdrawal, you can get back into your crypto investing inside Public!

Here's where your notes from step 1 will come in clutch. 

Take the following steps to re-buy each of your Cryptos in Public:

  1. Go to the "Explore" page, or the search bar inside the app
  2. Type in or scroll through to the crypto you'd like to buy
  3. Select the crypto, and press the "Invest" button
  4. Click the "..." option and enter the dollar value you'd like to invest
  5. Press "Next"
  6. Review transaction details and press "Submit"

Due to the volatility of crypto markets, you may not be able to re-purchase your crypto at the same price you bought it for originally in Coinbase.

This is the biggest drawback of Public not having a dedicated wallet for its user accounts.

As well as this, with the delays of having to transfer your Coinbase funds to your bank, you may lose out on opportunities for your crypto positions to profit before you can buy them back.

Pro Tip: Skip The Wait

Until Public offers crypto wallets for their users, selling and re-buying their crypto picks will be the only way users can "transfer" their cryptos into Public.

One thing you can do to keep control of your investments is this:

Before selling your cryptos in Coinbase, re-buy as much of your crypto positions inside Public as you can afford.

This might not be useful for some users with limited funds, and it could be risky - the crypto market could swing the wrong way for your crypto during that time.

However, this way, at least you have some more control over your crypto investments.

Article written by Drew Cochran

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