How To Get Ethereum Into Your Wallet
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What is ETH?
ETH is short for ethereum and its the currency on the ethereum blockchain. Here is a great resource from the Ethereum Foundation. Ethereum is the second largest cryptocurrency in the world. Ethereum is the blockchain foundation of NFTs. If you want to buy an NFT you must have some ETH.
You can buy ETH directly but sometimes there are geographical restrictions. We suggest buying through coinable and transferring to a metamask wallet.
Step 1: Create A Coinbase Account
Coinbase is one of the biggest centralized exchanges. You can access it online or via it’s app. You can buy, receive, send or sell cryptocurrencies via coinbase.
Since coinbase is centralized, you’ll have to provide ID when setting up an account. After that, you’ll be able to purchase crypto via credit or debit card or a bank account.
When you buy crypto on coinbase it can sometimes take up to 5 days to clear. So do it as soon as possible.
We suggest setting up your account via app for iPhone or android.
Step 2: Buy ETH
First rule: Don’t invest what you can’t afford to lose!
While we know we are building something special, every investment comes with risk and DO NOT invest your survival money.
For the HBCU Grad upcoming project, we recommend having at least .25 ETH in your wallet.
Now that you have your coinbase account
Open your Coinbase app.
From the homescreen, click the blue button with arrows at the bottom of the screen. Then, select “Buy” from the dropdown menu. This will open up a list of different crypto assets offered by Coinbase for buying and selling. (Alternatively, you can navigate to the “Prices” tab from the home screen, click the crypto asset of your choice, and click “Trade.”)
Click on the option for Ethereum (ETH) — be sure to note the current trading price listed on the right hand side.
On the next screen, decide how much ETH you want to buy and enter in the amount. You can also denominate your purchase in ETH. After deciding on your desired amount, click the blue “Preview buy” button.
On the “Order Preview” screen, review all of the information. You’ll see the amount of ETH you’re preparing to purchase as well as the price. Note that the trading price can go up or down before you’ve finalized your purchase. You’ll also see your preferred payment method, the fee that Coinbase takes for the transaction and finally, the total amount you will be charged.
If all of this information looks good to you, click the blue “Buy now” button to purchase your ETH. You will be brought to a confirmation page and an additional confirmation will be sent to your email address.
Step 3: Sending Ether To Your Metamask Wallet
Now you have ETH. Now let’s send it to your metamask wallet.
In your MetaMask app, find your public address. This is a long number starting with 0x listed underneath your account name. Tap on this number to copy it to your clipboard.
Once you’ve copied your address from MetaMask, go back into your Coinbase app and navigate to the “Portfolio” tab on the bottom of your screen. From there, click on “Ethereum” and click on your “ETH Wallet.”
Then, click on the send icon on the right hand side of the screen.
Now, decide how much ETH you would like to send to your MetaMask address. You can choose a portion or send the max amount available. *We recommend sending a very small amount as a test transaction to ensure that the funds are received in your MetaMask. Sending a small test transaction out before adding large amounts of funds to ensure you have successfully created a wallet you can operate is a good idea. Also, please note that before sending any value to a wallet, it’s recommended to test your seed recovery phrase and ensure you have the same address after recovery before adding any value to a wallet from an exchange like Coinbase.
Finally, in the “To” bar, paste the address you copied from MetaMask, add a note (optional) and hit “Preview send.”
Once you finalize, you will have successfully sent your ETH from Coinbase into your MetaMask wallet!
Step 4: Linking Your Hardware Wallet
You can link your metamask to a hardware wallet for added security. Cold storage wallets store your private keys independently of an internet connection on a USB drive. Ledger and Trezor are good hardware wallets. Here is a support guide if you want more information on this process.
That’s it! You’ve done everything to be prepared to buy NFTs.
Remember to be smart with your investments and safe with your private keys.
We’ll see you in February 2022!
