This article will discuss how to receive NFT on Coinbase Wallet. NFT is a non-fungible token that cannot be replicated on various blockchains, and they represent different real-life items such as artworks.
Does Coinbase Wallet Support NFT?
Yes, the Coinbase Wallet currently supports the storage and safekeeping of your diverse NFT collectibles. The platform helps to keep different crypto assets safe, and you are guaranteed that your NFTs are secured on the platform.
How to find My NFT Address on Coinbase
You can quickly get your NFT address on the Coinbase mobile app. Follow these listed steps to get your NFT address on the mobile app.
• Login to your Coinbase account.
• Tap on the “Receive” option on the home menu.
• Click on the asset at the bottom to reveal a list consisting of supported assets.
• Click on the asset of your choice.
• Once you have selected the asset, the QR code and address will appear.
• You can scan the QR code or copy or share the address of your preferred transfer method.
How to Receive NFT on Coinbase Wallet
Receiving NFTs on your Coinbase Wallet is relatively easy as you need to follow these steps.
• Go to Your Account and Select NFT to Send
You would need to go to your other wallet where the NFT is present and select the NFT of your choice. Once you have chosen, click on “Send” or “Transfer.”
• Enter the NFT Address on Coinbase Wallet
Once you have selected the NFT of your choice, you will be required to enter the NFT address you intend to send the asset. This should be your NFT receiving address on your Coinbase account.
• Pay the Transaction Fees
Once you have the correct NFT receiving address, you will be required to pay the transaction fees. Ensure you have enough to cover the fees.
• Confirm Your Transaction
Once you have the above ready, you can then confirm your transaction. Wait until you get a success status, then go to your Coinbase wallet and see if your transaction has been concluded.
How to Transfer NFT from Coinbase Wallet to Metamask
Below are the steps to transfer your NFT from your Coinbase Wallet to Metamask.
• Sign in to your Coinbase and Metamask Wallets.
• Go to NFTs on your Coinbase app, select the one you intend to send, and click on the “Send” option.
• Once you have clicked on the “Send” option, the Coinbase wallet will take you to a page where you would have to enter the wallet address of your Metamask account.
• On your Metamask account, once logged in, tap on your account on the top of your screen and copy the receiving address.
• Copy the available address on your Metamask account and paste it on the page in your Coinbase account where you were required to enter the wallet address.
• Ensure to pay the transaction fee and confirm the option to transfer your preferred NFT from your Coinbase Wallet to your Metamask.
Reasons Why Your NFT is Not Showing up in Your Coinbase Wallet
Some of the reasons your NFT may not appear in your Coinbase Wallet include.
• The Data Might Not Have Synced
One of the fundamental problems leading to your NFT not appearing in your Coinbase is the possibility of your data not being synced. Due to the centralization of IT infrastructure and companies using diverse caching to reduce loads on servers may result in lag between database syncs.
• Your NFTs Network May Not be Supported
Another reason is that your NFT may be on an unsupported blockchain network, and the Coinbase wallet only supports NFTs on ethereum and polygon networks. So if your NFT is on a different network, it will not show in your wallet.
• Your NFTs Format Maybe Unsupported
A known reason for your NFTs not showing up is that their format may be unsupported. Coinbase wallet only supports NFT with standard images and GIF files, so it may not show up in your wallet if you have otherwise.
How Long NFT Takes to Appear in Coinbase Wallet
For transactions made using crypto-asset, it would take up to 3 hours before your NFT will reflect in your Coinbase Wallet. Sometimes it could be less but not more than 3 hours.
How to Buy NFT on Coinbase Wallet
To purchase NFTs, you need to use a specific crypto asset on a decentralized exchange. To buy NFTs, you would need to have a reasonable amount of Ethereum (ETH), which you would use to purchase these NFTs. To buy NFT using your Coinbase Wallet, follow these steps.
• Download and Register Your Coinbase Account
To purchase NFTs, you must download and register a Coinbase account. Ensure you choose a username suitable for you and store your recovery phrase in a safe place.
• Safe Keep Some Amount for Transaction Fee
It is essential that intending buyers safe keep a specific amount of ETH to cover the transaction fee. Ensure you set aside a reasonable amount of ETH to cover these charges.
• Purchase and Transfer ETH to Your Coinbase Wallet
Once you have registered on the Coinbase platform, ensure to purchase ETH, which you would need in buying the NFT of your choice. You can send through your ETH receiving wallet from any other exchange platform of your choice.
• Purchase the NFT of Your Choice
Now that you have an account with enough ETH to cover the purchase and transaction fee, you are ready to purchase your NFT.
Go to the trade page and tap on “Trade,” where you can then swap your ETH for any NFT. Click on “ETH” and the NFT, then enter the amount of ETH you intend to exchange for NFT.
Receiving NFT on a Coinbase Wallet is relatively easy if investors and traders consider the above-mentioned guidelines.
NFT is gradually becoming the next big thing in the crypto world and worth considering. We hope this article will guide and help you use the Coinbase Wallet for your NFT purchase. Kindly visit our comment section for your questions and comments.
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