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How to transfer crypto from Coinbase to Exodus wallet and how to set up an Exodus Wallet - YouTube
Channel: unknown
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hey everyone this is divi daddy patrick聽
hakeem i'm calling in with daniel today聽聽
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hi i'm daniel pace with simple crypto consulting聽
and today we're just going to try to set up a聽聽
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video for you guys you guys have had a lot of聽
questions um especially coming in through you聽聽
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know bitcoin ben's groups uh through bitcoin聽
connections and through bitcoin branches us聽聽
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um we've seen a lot of you guys asking questions聽
online so we just wanted to take a second and set聽聽
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up some time today to create a video that really聽
discusses uh you know the crypto 101 for people聽聽
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who've never bought crypto before how to get聽
in how to buy you know uh bitcoin or litecoin聽聽
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or something offered on coinbase uh let's say you聽
you may not be spending enough to meet caleb and聽聽
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brown's minimum like bitcoin ben talks about on聽
his channel that's something we've talked about聽聽
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how do you get in at you know the thousand dollar聽
level so today we're going to show you guys a聽聽
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deposit a thousand dollars in my coinbase account聽
and i'm going to show you guys how to take that聽聽
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money deposit in coinbase create a brand new聽
exodus wallet and then we're going to show you聽聽
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how to pair that wallet back up that wallet and聽
transfer your funds from coinbase into exodus聽聽
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now we're going to be doing it today from an聽
iphone um on to exodus but the same platform聽聽
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on coinbase works the same way whether it's on聽
a desktop version on an iphone or on an android聽聽
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either way you're using the same interface we're聽
going to show you how to purchase we're going聽聽
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to show you how to find your addresses how to聽
send your addresses and how to get money from聽聽
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coinbase over to exodus you missing anything yeah聽
i think that's going to sum up what we're doing聽聽
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uh as a disclaimer none of this is technically聽
financial advice so anytime you do anything with聽聽
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crypto there are risks and fees associated so聽
you do your own research and all that kind of聽聽
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stuff also if anybody is in the comments claiming聽
to be me i'm never going to take your money he's聽聽
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not going to take your money i will never ask聽
you for anything we're not going to take your聽聽
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private seats don't share that with anybody online聽
never share your private keys don't share your聽聽
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private keys so if somebody's doing that in the聽
comments ignore them block them report them etc聽聽
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not legitimate once you open up your coinbase聽
account on your desktop or mobile device you聽聽
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will be able to do the transactions and stuff聽
like that so we'll go through that step by step聽聽
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right now so what i want you guys to see is you're聽
going to be looking at my screen here this is my聽聽
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coin based screen so i deposited about fourteen聽
hundred dollars yesterday into my coinbase account聽聽
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and uh what i'm going to show you now is if you聽
go to the portfolio you'll see here in us dollar聽聽
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you can deposit you can withdraw and so what i did聽
is if you're going to deposit you're going to just聽聽
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click on deposit and you can wire money in from聽
your bank or you can click on bank account which聽聽
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is what i'm doing here and i have my chase bank聽
account linked so for example if i wanted to just聽聽
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deposit ten dollars from my chase bank account聽
it would be fairly simple to walk through to聽聽
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ten dollars but you gotta remember there are going聽
to be coinbase fees whenever you start doing this聽聽
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stuff so at this point you're going to see聽
that coinbase is now available for trading聽聽
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i'm going to go into my cash account and you聽
can see that ten dollars was just transferred so聽聽
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what i'm gonna do is go back to my portfolio and聽
i'm going to go down and find my bitcoin wallet聽聽
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or for today you know what i want to buy litecoin聽
today we're going to go even a little more fun聽聽
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because i have a litecoin card which we could聽
talk about another time but today i'm going聽聽
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to buy litecoin so i have as you can see in my聽
portfolio i'm going to use the 1388 us dollars聽聽
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that i have deposited from my bank account and聽
i'm going to go down to litecoin and you can also聽聽
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search if you'd like up top and i'm going to go聽
to litecoin wallet i clicked on litecoin wallet聽聽
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and i'm going to say up here you聽
could send and receive on the top聽聽
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right hand corner but what i'm going to go聽
to is trade it's going to say buy litecoin聽聽
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and i'm going to do a one-time purchase and聽
i'm going to say i want to buy 1350 of litecoin
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preview our buy and it's going to say here's the聽
price of litecoin at 333. you're purchasing 1330.聽聽
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worth of litecoin and your fee is 19.82 in the聽
coinbase fee so don't forget you're gonna have聽聽
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fees with coinbase uh with any exchange that聽
you go to to transact your fiat but there are聽聽
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places that are cheaper but for today's purposes聽
we're just showing you a quick and dirty how to聽聽
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get money in from your chase or other fiat bank聽
account into your cash account and now as you'll聽聽
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be able to see i was able to use it to purchase聽
litecoin so i purchased almost four litecoin today聽聽
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um and you can see that this litecoin is here聽
and settled in my wallet now i do want to make聽聽
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it very clear to you that you need to make sure聽
that your funds settled i sent in funds that have聽聽
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been settled already so my money is ready to send聽
out if you just transferred money into coinbase聽聽
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today it's going to take roughly seven days or聽
so for the fees to or for the funds to settle聽聽
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and once the funds settle you'll be able to remove聽
your bitcoin i'm gonna actually show you how you聽聽
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can see that too if you go to your wallet you're聽
gonna see when you go to send up at the top it聽聽
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says enter amount and how much is available聽
when you click that little info button it'll聽聽
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show you when you have money available to send聽
you see the ten dollars that i just bought today聽聽
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it says it's available to send in six days at the聽
bottom that's because i just purchased it today聽聽
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it's gonna take six days to settle i still bought聽
litecoin with it but the money that i had settled聽聽
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now is the money i'm gonna use today to send聽
so here you're going to see my litecoin address聽聽
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and i'm going to go over here and i'm going to聽
send litecoin over to the new exodus wallet that聽聽
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we're going to set up here in a sec so i want聽
to take over setting up an exodus wallet daniel聽聽
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yep all right so now what we're going to do聽
is we're going to set up an exodus wallet聽聽
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an exodus wallet is basically another wallet聽
that's not on the exchange if you're on your聽聽
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app on the coinbase website that's an exchange聽
that's where you're exchanging crypto and fiat and聽聽
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all that kind of stuff if that exchange was ever聽
hacked or anything like that all the crypto that聽聽
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you have stored there is up for grabs to form from聽
a security breach so you want to transfer it into聽聽
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a wallet that you hold the private keys to and聽
that is going to be safer in this example we'll聽聽
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use exodus it's a uh it's a hot wallet you do have聽
to be connected to the internet it's not a cold聽聽
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wallet like a trezor or a ledger but it's it's聽
still a secure solution uh to use to send your聽聽
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litecoin to so what we're gonna do is we'll聽
head over to your browser and you'll type in聽聽
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exodus crypto wallet or you can go directly there聽
by going to exodus dot io so you'll when you're聽聽
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here you'll see all this exodus crypto wallet you聽
can scroll down we're going to do is we're going聽聽
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to click on download and so you have the desktop聽
and the mobile version uh once you create a wallet聽聽
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on either one of those you'll have seed phrases聽
if you want to import the one from your mobile聽聽
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wallet to your desktop you can do that or you聽
could do from desktop to mobile it doesn't matter聽聽
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for now we're going to start with the computer you聽
download windows or mac whatever you have linux聽聽
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you'll let it do its thing and you'll see its聽
progress down here in the bottom left-hand corner聽聽
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once that's done you can just click it and it聽
should start to run the installation process聽聽
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exodus has been installed you can run it by聽
clicking the shortcut on your desktop or in聽聽
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the app menu so we'll go to your desktop and聽
we'll find the exodus icon that looks like this聽聽
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and then you'll click on it double click on聽
it to open the exodus wallet so now that we've聽聽
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downloaded exodus i'm going to walk you guys聽
through what we walk every client through that聽聽
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sets up an exodus wallet guys it's really simple聽
but i want to be very clear about this part this聽聽
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next part you have to make sure to maintain聽
security no matter what if someone gets the聽聽
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words that we're going to talk about here in the聽
next few minutes they will steal your coins all聽聽
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of it in seconds there's no exception the聽
only reason that someone would need that聽聽
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would be to take money out of your wallet and聽
move it somewhere else that's it that's the only聽聽
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function so we're going to walk through today how聽
to set it up so we're going to go to the top right聽聽
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hand side and click on the settings icon you'll聽
see that on the top you'll see a security tab聽聽
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it's a little bit gray and kind of dimmed out聽
but i want you to click on security up at the top聽聽
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and then from security i want you to go down to聽
the hyperlink it's in purple it says backup wallet聽聽
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you're going to click on that and then you're聽
going to type in a password it doesn't matter聽聽
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what your password is it can be 10 or 12聽
characters letters or numbers it just needs to be聽聽
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something that's secret to you and you're going聽
to be asked to click it and enter it in again聽聽
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so we're going to enter in again the password that聽
we just created and once again this is a brand new聽聽
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wallet we're doing this live right in front of you聽
guys and as you see right there it says write down聽聽
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your 12 words daniel's gonna scroll over every聽
word individually these words lock lumber coconut聽聽
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axis rance race bachelor lab access peanut聽
cry chronic and pear these 12 words are the聽聽
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secret words to your wallet now yeah it's dumb聽
i'm sharing it with you guys but at the end of聽聽
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the day i'm going to take all the money out before聽
the show even airs so we're not worried about that聽聽
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but just for the purpose of actually walking you聽
through the entire life cycle of how this works聽聽
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we wanted to show you guys that these are the 12聽
words that you're going to have to write down and聽聽
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then daniel um we're gonna need to just uh quickly聽
hover over them and remember them together because聽聽
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on the next screen it's gonna ask us to verify聽
which word is ours so here's the next screen聽聽
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so now you could see it's asking us which word of聽
the 12 words you guys wrote down belongs to you聽聽
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as you recall from the video where we just showed聽
you access was the word that was ours train shiver聽聽
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and myth were not there so we click on access and聽
we move forward at this point we have completed聽聽
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our backup now we have a wallet that is a brand聽
new wallet that we own the private secret phrase聽聽
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to you that is associated with your private key聽
and this wallet has never been used before it's聽聽
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a brand new wallet no one has any clue about the聽
existence of this wallet or where it's at at this聽聽
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point you have a wallet that is what i would call聽
a fresh clean secure wallet the only person that聽聽
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knows about it is the person who was there when聽
you wrote down those words anything else to add聽聽
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yeah and i would just make sure you write down聽
those words by yourself and not on screen or聽聽
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something or with a person that you don't trust聽
or something like that so and remember there are聽聽
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a lot of ways to store it but at the very least聽
guys get on amazon buy a five dollar fireproof聽聽
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passport bag stick it in your your drawer or your聽
safe at least if your house burns down you don't聽聽
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lose the words okay just five dollars just make聽
it simple and i guess we should stress it should聽聽
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be written down and not stored on any type of聽
device or taken a picture of or anything like聽聽
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that if there's any digital component that聽
connects to the internet it is vulnerable聽聽
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that's pointing so now we're going to get聽
it up to assets and we're going to look at聽聽
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um look up litecoin because that's what聽
we decided to purchase today on coinbase聽聽
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so here's the litecoin wallet now we're going to聽
transfer over to my screen too so that you guys聽聽
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can see what we're doing and as you can聽
see here i'm in my litecoin wallet so聽聽
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i'm going to go back one step to you guys聽
and i'm going to click on litecoin wallet聽聽
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i'm going to go to the top right hand corner where聽
that arrow is and i'm going to push send and i'm聽聽
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just going to send everything i can which is 1335.聽
a total of 3.9 litecoin i'm going to continue聽聽
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now you're going to see right here where聽
it says 2 you can write mobile email or聽聽
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address i am going to recommend that you push on聽
these four little blue squares up at the right聽聽
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and that's going to allow you to use your qr聽
code and daniel is going to show the receive icon聽聽
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and the icon on the receive icon is going to show聽
us the qr code where i'll be able to come here聽聽
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scan the qr code and now i have the address聽
written down i'm going to confirm by looking聽聽
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up the first three letters and the last four it's聽
never been wrong but it doesn't hurt to check and聽聽
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then i'm going to go to send now now i want you聽
to see again there's another fee every time you聽聽
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send money there's gonna be a fee this litecoin聽
fee is not too bad fees differ from coin to coin聽聽
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ask me for a verification it聽
sends it to my phone i enter it
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and there we go now it usually only takes聽
a few minutes for these transactions to go聽聽
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through but the depending on the coin it can take聽
anywhere from 30 minutes to a couple hours for the聽聽
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transaction to finalize but as you could see聽
here in real time i sent it at 233 and it was聽聽
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received at 233 different coins take different聽
amounts of time it's also important to note聽聽
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that it's common practice to send a test amount聽
of any type of cryptocurrency to the wallet聽聽
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first before sending any large amounts just聽
to make sure that you have the address right聽聽
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and that the transaction goes smoothly we didn't聽
do it here because we've done this a lot and we've聽聽
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already tested it we knew it was going to work but聽
it is a good idea to do it if this is a brand new聽聽
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wallet and you are not familiar with sending and聽
receiving cryptocurrency as you can see all the聽聽
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money has now gone from fiat into coinbase from聽
coinbase into my exodus wallet that can be on your聽聽
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tablet on your iphone or if you check out litecoin聽
leader's video he'll even show you how to use an聽聽
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old cell phone for a hundred dollars and how聽
to keep it secure i highly recommend going to聽聽
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litecoin leaders videos guys check out what he's聽
got become a subscriber there on his channel聽聽
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yeah we'll link his uh video to what he was聽
talking about in the description below on this one聽聽
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and then from there you can subscribe to聽
him and get all the information on all the聽聽
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altcoins or whatever you want that he's been doing聽
for the last month or so so that's how to do it in聽聽
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coinbase if we're using the camera now i'm gonna聽
show you guys another way to walk through this聽聽
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because what daniel is gonna need to show you is聽
what if you are using coinbase on your laptop so聽聽
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what i want you to do daniel is i want you to聽
click on the receive icon and we're gonna see聽聽
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where it says copy address it's the two little聽
boxes right there to your right that's what i聽聽
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want you to click on now you've copied the address聽
now daniel i'd like you to open up an email and i聽聽
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want you to send me an email and we're going to聽
paste the address in the subject or in the body聽聽
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of the email and you're going to send it to me聽
just want to hop in here really quick and say聽聽
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that it's perfectly safe to send this address this聽
is the public address this isn't the private key聽聽
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so there is no security risk with sending this聽
this is uh totally fine now this is the way so if聽聽
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you don't have a camera guys and you don't have a聽
way to do it with your your phone and scanning the聽聽
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qr code this is how we're gonna walk you through聽
taking it out of exodus copying the underside of聽聽
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exodus pasting it in an email daniel you can send聽
it to me at patrick thedivydaddy.com i'll get it聽聽
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in my email box and in the same way i'd copy that聽
address and i'm going to walk through how to get聽聽
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it out of my email copy it paste it and send it聽
in coinbase as well to exodus so you'll have the聽聽
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way to do it with um doing it with your phone and聽
if you don't have a phone with a camera uh then or聽聽
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something that has a camera on it like a tablet聽
with a camera with a qr code reader then we'll聽聽
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show you how to do it by email as well but now聽
i got the address and i'm going to show you guys聽聽
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how this is working by the way so that you guys聽
can see it on my phone so the address is here i'm聽聽
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just going to highlight it i'm going to copy it聽
and then i'm going to go back to coinbase and over聽聽
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here when i go to back this way if i wanted to聽
send daniel litecoin which you won't see the send聽聽
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icon anymore because i don't have any more money聽
but when you would send instead of pushing email聽聽
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you would paste that address into there so that's聽
just the easy way to do it um if you have any聽聽
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questions about that guys drop a comment for us聽
if there's any way we can improve on the video or聽聽
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anything that left you confused let us know but聽
i think from from here we kind of went through聽聽
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here's how you get money from your chase bank聽
account into coinbase from coinbase how to create聽聽
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a brand new excess wallet how to pair that wallet聽
how to secure that wallet and then how to actually聽聽
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make sure that you take care of your secret words聽
and remember once again those secret words are聽聽
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secret secret yeah secret yeah they're pretty聽
secret guys keep it secret keep it safe okay聽聽
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you guys know what i'm talking about but the聽
reason we recommend using exodus at the end of聽聽
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the day is because with crypto if you don't own聽
your keys you don't own your coins you guys get聽聽
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what i'm saying here so if you're on coinbase聽
you don't own your private keys you didn't see聽聽
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me tell you how to write down private keys on聽
coinbase there are no private keys on coinbase聽聽
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your money is in a coinbase exchange wallet you聽
don't have access to it and if their coinbase聽聽
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account is down or the exchange is down with聽
their price is going up or down you might not be聽聽
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able to get in and send anything when you get in聽
with exodus you own your keys you own your coins聽聽
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you are the person who is responsible for聽
when they're allowed to leave that wallet聽聽
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that's as simple as it gets and here we are聽
with simple crypto consulting and divvy daddy聽聽
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have a good day guys thank you for watching聽
and we will be back with more videos soon
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