I’m relatively new to the world of cryptocurrency and have earned some Bitcoin via Hashflare. I understand that in order to spend or convert these earnings, I need to transfer them to a wallet. I’ve chosen Coinbase as my wallet because of its user-friendly functionalities, wide acceptability and safe platform. However, I’m not quite sure how to go about this.
I’ve tried to do some research online but the information seems rather confusing. It would be great if someone could give me a simple, step-by-step guidance on how to transfer my Bitcoin from Hashflare to my Coinbase account. Please avoid using overly technical terms as I’m still getting used to those. Also, are there any fees or time delays I should be aware of in this transfer process?
Sure, transferring Bitcoin from Hashflare to Coinbase is generally straightforward. Start by logging into your Coinbase account, select ‘Accounts’ and under ‘BTC Wallet’, click ‘Receive’. You will be shown a Bitcoin address which is unique to your account. Make a copy of this address. Now, log in to your Hashflare account and select ‘Withdraw’ from your dashboard. Paste the Coinbase address that you previously copied into the ‘Bitcoin Address’ box. Enter the amount of Bitcoin you wish to withdraw and click ‘Confirm’. The process can take between 30 minutes to an hour, depending on the network congestion. Most transactions, however, are usually completed within this timeframe. Be aware that Hashflare might charge a small fee for this, and you’ll be able to see this before you confirm your transaction.