Today I am going to show you how to send Bitcoin from Coinbase to Ledger Nano S or X hardware wallet, or some other place say another exchange or paper wallet. If you own a hardware wallet then it’s strongly recommended that you move your coins to Ledger Nano ASAP.
After buying Ledger Nano S, X, or Blue hardware wallet, you should transfer bitcoin from your exchange to Ledger wallet as soon as possible. If you’ve bought your bitcoins from Coinbase, a prominent Bitcoin exchange, and now you want to move your coins somewhere else for example to hardware wallet then you can do so by following the instructions given in this tutorial.
For your information, Coinbase is one of the best cryptocurrency exchanges across the world, but it’s not suitable for HODLing Bitcoin because of security concerns.
There is no doubt that this exchange is one of the safest exchanges out there but we can’t deny the fact that it’s vulnerable to security breaches. Therefore, for long term holding, paper wallet, software wallet, and hardware wallet are the best solutions.
If you want to store your bitcoin in a place where you can easily use them for day to day transactions then hardware wallet is a best option for you.
A hardware wallet stores your private keys safely and lets you make transactions without exposing your private keys to the internet. And ability to store multiple coins at the same time makes cryptocurrency wallets stand out of the queue.
So far in our Ledger hardware wallet tutorial series, we’ve covered how to move Litecoin, Ripple, Ethereum to your wallet. And in today’s tutorial, I’ll be showing you how to transfer Bitcoin from Coinbase to Ledger Nano S, X, or Blue wallet.
- Instructions given in this tutorial can also be followed to send BTC from any exchange to Ledger Nano S, X, or Blue.
- You can also read this post to send bitcoin from Coinbase to Blockchain.info or any other wallet address. Just enter wallet address to which you want to send bitcoin at the place of Ledger wallet address.
Steps to transfer bitcoin from Coinbase to Ledger Nano S, X, or Blue wallet
Ledger wallet is very easy to use. With help of its latest application, Ledger Live, you can readily move your bitcoin to Ledger Nano S, X, or Blue. Ledger Live app is available for computer and mobile.
To transfer bitcoin from Coinbase to Ledger Nano S, first you’ll need to setup a bitcoin wallet on your Ledger wallet. So, let’s first generate Ledger wallet bitcoin address on our device.
To transfer bitcoin to Ledger wallet, you’ll need to follow these four steps:
- Download and install Ledger Live app
- Setup Ledger bitcoin wallet
- Copy your Ledger wallet bitcoin address
- Login to your exchange (Coinbase or another) and send bitcoin to your Ledger wallet address.
No matter what Ledger hardware wallet you own, be it Ledger Nano X, S or Blue, you’ll need to complete above mentioned steps.
So let’s get started.
Visit Ledger wallet applications page and download and install Ledger Live app.
After installing Ledger Live app onto your computer, open the app and connect your Ledger hardware wallet to your computer. Complete initial setup and then from the sidebar, click on Manager.
Click on Install next to bitcoin icon to install generate Ledger wallet bitcoin address into your hardware wallet. After pressing the button, you’ll need to confirm the installing from your hardware wallet too.
That’s it. Now our Ledger bitcoin wallet is ready to receive the funds.
Now to transfer bitcoin from Coinbase to Ledger Nano S, from the Ledger Live sidebar, click on Receive. And then from the pop-up window, select Bitcoin wallet and hit Continue button.
Just grab USB cable and Ledger device and connect them to your computer. After connecting the device, first you will need to enter your PIN to unlock your device. Thereafter, use left and right buttons of your Ledger Nano S and highlight Bitcoin app and then press both buttons together to open the wallet.
Click on Continue button.
Once again click on Continue. Now match bitcoin address showing on your computer screen with the address showing on your Ledger hardware wallet. If both addresses are same then press OK button from your wallet.
Copy your Ledger wallet bitcoin address appearing on your computer screen to send bitcoin from Coinbase to Ledger Nano S. (you can also scan QR code)
Minimize your Ledger Live app and login to your exchange where you’re storing your bitcoin.
Now login to your Coinbase account and click on Accounts tab. Then click on Send button under BTC Wallet to move your coins from Coinbase.
Enter Bitcoin address of Ledger Nano S in the recipient field then enter amount either in USD or BTC. Note: First send a small amount to your Ledger Bitcoin address. Note field is optional, however, you can enter some text. After entering all the information, hit Continue button.
In the next step, you’ll be asked to enter two-factor authentication code; if enabled. After entering the code, press Confirm button.
Ta da! You’ve successfully sent bitcoin to Ledger Nano S. Now, go back to your Ledger wallet and see whether you’ve received bitcoin or not.
Usually, it takes few minutes to 24 hours. Once you receive your bitcoins then move all of your bitcoins from Coinbase to Ledger wallet. Note: You can create more than one bitcoin wallet address on your hardware wallet by clicking on ‘Add an Account’.
I suggest you generate two Ledger wallet bitcoin addresses. Use first one for long term holding and second one for day-to-day transactions or bitcoin trading.
Above steps will help you send bitcoin from Coinbase to Ledger Nano S. If you’re facing any problem then feel free to ask in the comment box.