Cryptocurrency exchanges are a key component of the modern cryptoindustry. Today I would like to write about How you can transfer Bitcoin from Coinbase to Bittrex. But first let`s define Coinbase and Bittrex.
Bittrex has been operating since 2015 and allows you to work with thousands of cryptocurrencies pairs, has two-factor authentication and cold storage of most users’ assets to protect against possible system failures.
This exchange is arguably one of the safest platforms for online trading, as its creators describe themselves as “security paranoid”. However, registering on the exchange can intimidate advocates of anonymity, as the new user needs to disclose their full name, date of birth, address, and ID number.
Initially, Bittrex operated purely as an exchange. Today it is a large exchange that allows you to trade almost any currency pair, including bitcoin and many altcoins.
The exchange works as a trading platform and as a wallet, which can be convenient for many community members. Bittrex may be the best solution for those who value safety over comfort. Even though verification can take a long time, and technical support does not work in the best way, the security of accounts is beyond doubt.
The exchange has a high level of security, as it uses cold storage technology, when user assets are stored on servers that are disconnected from the network.
- To withdraw funds more than $ 2000 per day, you need to pass two-factor authentication.
- Transactions are carried out quickly, the user can always get acquainted with the real state of his account.
- Bittrex charges a 0.25% commission on trades.
- Despite the large number of traded forks, the Bittrex exchange is slightly inferior in terms of daily trading volume to another well-known American exchange – Poloniex.
- API and 2FA availability.
So, what is Coinbase is popular American cryptocurrency exchange. Today Coinbase is deservedly included in the list of leading cryptocurrency exchanges, has a solid trading volume and high capitalization.
The mission of the Coinbase exchange, as stated on their official website, is to create an open financial system for the whole world.
Coinbase is the most conservative and regulated exchange. Despite such strict rules of operation, users are won over by the high degree of protection of the assets of Coinbase customers. 98% of users’ funds are stored in offline hardware wallets, and the rest of the cryptocurrency is insured. In the event of any fraudulent activity, Coinbase guarantees its customers a full refund of the lost funds under the insurance policy.
Transfer coins from Coinbase to Bittrex
In this small guide below, I want to show you how to transfer coins from Coinbase to Bittrex.
Moving currency from one wallet / exchange to another is always a daunting process for those who have never done it before. But after you have done it a few times, it becomes a simple process.
It is important to be diligent during this process. Always double check the address, make sure there are no spaces or extra characters when copying / pasting. Be extremely careful when entering the correct address.
When you wish to transfer anything, items from bank to bank or cryptocurrencies from one exchange to another exchange, you need the recipient’s address and the sender’s address. For example, if you have 1 BTC on Coinbase and you want to transfer it to Bittrex, click on your Coinbase wallet where you can see the value of your bitcoin. You will find the option to withdraw BTC.
Now go to Bittrex, go to wallet, and click on BTC, find- deposit address and click on it to generate the address. Copy the address and paste it into the “withdraw” field on Coinbase. After click “transfer” and your funds will be transferred from Coinbase to Bittrex. Each exchange will provide you with a choice of deposits and withdrawals, using it you can move your savings anywhere you want.
Go to Coinbase -> Accounts -> BTC Wallet.
Then enter your Bitcoin address, click “Send” and wait for confirmation, after that 1 BTC should appear on your Bittrex account. Each deposit and withdrawal will be charged a commission in the form of the currency you transfer. BTC charges the largest amount of all coins.
How much time it takes to transfer from Coinbase to Bittrex?
How long does a purchase or deposit take to complete? Mostly, duration of the process depends on your nationality. If you are US customer, European, UK customer or Canadian and Australian the transfer will be instant. For other nationalities it will take a while, few working days.
Process of transferring from Coinbase to Bittrex, depends on type of cryptocurrency. In our case we transfer BTC, it will take between 15 min. – 1.5 hours.