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Author Topic: Locating address on Coinbase Pro  (Read 95 times)
OkieDokey (OP)
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February 16, 2020, 07:04:47 PM
Merited by bitmover (1)
 #1

I recently purchased a Ledger Nano S to secure my crypto assets that are currently held at Coinbase Pro. To secure my coins, the Ledger needs to know my address, but I can't find it located on Coinbase Pro, I can only find an empty address book to enter in frequently used addresses. I moved my account from Coinbase to Coinbase Pro to take advantage of the free trades that they had at that time. I can see the previous addresses that I had at Coinbase and I just wanted to ask if I need to transfer the coins over to Coinbase in order to set up the Ledger? I tried asking this question with Coinbase support and they said they would get back to me which they never did.
xhomerx10
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February 16, 2020, 07:10:33 PM
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I recently purchased a Ledger Nano S to secure my crypto assets that are currently held at Coinbase Pro. To secure my coins, the Ledger needs to know my address, but I can't find it located on Coinbase Pro, I can only find an empty address book to enter in frequently used addresses. I moved my account from Coinbase to Coinbase Pro to take advantage of the free trades that they had at that time. I can see the previous addresses that I had at Coinbase and I just wanted to ask if I need to transfer the coins over to Coinbase in order to set up the Ledger? I tried asking this question with Coinbase support and they said they would get back to me which they never did.

 Dude!  You gave your coins to Coinbase; you don't have an address with them because they keep your coins in their wallet.

https://www.coinbase.com/security

calkob
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February 16, 2020, 07:11:51 PM
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i am not really familiar with the coinbase platform.  but if you are looking to secure your bitcoin into your own custody and store them on the ledger then you just set up the ledger and generate a new bitcoin address.  you then send the bitcoin at the coinbase pro account to the ledger address you generate.
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February 16, 2020, 07:23:55 PM
Merited by suchmoon (7), xhomerx10 (1), o_e_l_e_o (1)
 #4

I recently purchased a Ledger Nano S to secure my crypto assets that are currently held at Coinbase Pro. To secure my coins, the Ledger needs to know my address.

Dude, this is not how it works.

To secure your coins, Ledger Nano needs to generate new addresses for your coins.

To do so, just insert you Ledger Nano S in your computer
Create a new wallet. Note down the SEED (24 words) in a piece of paper.

THen you will generate a new Bitcoin Address. Move all your coins from coinbase to that address, and your coins are safe.

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o_e_l_e_o
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February 16, 2020, 08:13:05 PM
 #5

Coinbase is a custodial wallet. That means that they hold your private keys and therefore your bitcoin (or other crypto) on your behalf, and you don't actually own anything. It is not compatible in any way with a hardware wallet. You cannot access your address or private key from Coinbase because you don't have one - all you have is an entry on their internal database saying that they promise to pay you x amount of coins when you ask for them.

If you want your bitcoin to be protected by your Ledger Nano, then you need to follow bitmover's instructions above to set up a new wallet and then withdraw your funds from Coinbase to that wallet. You will find the Ledger "Getting started" guide here to guide you through the process of setting up a new wallet with your Ledger device: https://support.ledger.com/hc/en-us/articles/360000380313.
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