Sometimes your money belongs in different places. This is why we keep some cash on hand, in a checking account, and in a savings account. Similarly, Coinbase users can store their funds in their regular primary balance or in a vault that's part of their Coinbase account.
What is a vault?
A vault can receive cryptocurrency like a normal asset balance in your account, but it can also prevent stored crypto from being immediately withdrawn by adding optional security steps.
Users can invite trusted individuals to co-sign withdrawals, which requires them to approve of a transaction before it can be completed.
Vaults also go through a secure approval withdrawal process after creation. Unapproved vault withdrawals will be canceled in 24 hours
Which cryptocurrencies can I store in a vault?
Currently, you can store any cryptocurrency that is supported on Coinbase. For more details, visit our Explore page.
If I already have a Coinbase account, do I need to sign up again with a new email address in order to use a vault?
No, vaults are available to all Coinbase users. You can create one on your existing Coinbase account.
How do I set up a vault?
Follow our help article on how to set up a vault.
Why was my vault withdrawal canceled after I set it up?
All vault withdrawals must be approved by the designated approver. If a withdrawal has not been approved in the 24 hours after initiation, the withdrawal will be canceled.
You are able to initiate a new withdrawal immediately after.
How do I send funds to my vault?
There are two ways to fund a vault:
You can share your unique vault address to receive crypto from outside Coinbase directly to your vault
You can transfer crypto from your Coinbase balance to your vault (this option isn't supported on the mobile app and must be done on the website)
To receive crypto from outside Coinbase directly to your vault:
Select the asset type you’d like to receive
Click the Vault tab, then Deposit
Select the asset address tab
Once selected, the QR code and address will populate
Coinbase mobile app
Select the asset type you’d like to recieve
Select your vault
Tap the QR code in the upper-right hand corner
Once selected, the QR code and address will populate
Note: To receive cryptocurrency to your vault, select Copy to share your address or allow the sender to scan your QR code.
To transfer crypto from your Coinbase balance to your vault:
Select the asset type you’d like to transfer
Select the Vault tab, then Deposit
On the From Account tab, enter the crypto amount you’d like to deposit
Confirm the amount, then select Continue
Once completed, your transfer will instantly appear in your vault.
Note: If you send crypto to the wrong crypto address (for example, Bitcoin to Bitcoin Cash address), your crypto will be lost.
How do I withdraw funds from a vault?
To initiate a withdrawal from your vault to your balance:
Select Portfolio, then select the vault
Enter the crypto amount you’d like to withdraw (you can select Withdrawal all to transfer all your funds)
Follow the prompts to complete your withdrawal
For a standard vault, once you enter the withdrawal details, a confirmation email will be sent to your inbox and to your secondary email inbox. Once the details are approved there, the 48-hour waiting period will begin.
Note: Currently, it's only possible to create one withdrawal request at a time. You must wait for an existing withdrawal to complete, or cancel it, before making another.
Can I change the settings on a vault after it has been created?
Once a vault has been created, its withdrawal delay period (48 hours), notification settings, security settings, and owner cannot be changed. In the event that you need to change any of this information, it's best to create a new vault.
Is there a limit on the number of balances or vaults I'm allowed to create?
At this time Coinbase supports one balance and one vault for each supported cryptocurrency.
Is there a fee for using vault storage?
None at all. Coinbase vaults are free to use, just like your balance.
Can Coinbase Support speed up or move funds from a vault in case of an emergency?
For security reasons, Coinbase Support is unable to bypass the waiting period on a vault withdrawal or move funds.
If I don't have enough funds in my spend balance for a purchase, will it automatically pull from the vault?
Because the vault requires a withdrawal delay, there is no automatic process that will pull from the funds stored there. It is necessary to have an adequate amount of funds in your spend balance before creating an instantaneous withdrawal or a purchase.
What's the best use for a Coinbase vault?
There are a variety of ways to store your digital assets, and it's definitely a good idea to find out which methods work best for you. The vault is an ideal storage tool if you wish to keep some digital assets online, but don't require quick withdrawals and want to be notified whenever there is a request to spend the funds. The choice to use both balances and vaults allows you to strike a balance between convenience and increased security to keep you in control of your funds.
Can I receive rewards in a Coinbase vault?
Yes, you can receive rewards for storing in vaults. If the cryptocurrency you're storing is eligible for rewards (staking rewards, APY, etc.), you'll receive rewards for that crypto.
DeFi Yield is not currently supported in vaulted assets at this time.
Note: You cannot earn rewards for storing ETH2, SOL, or ADA in a vault.
How do I cancel a vault withdrawal?
To cancel your vault withdrawal to your balance:
Select Portfolio, then select your vault
Select the pending withdrawal transaction, then View Details
Select Cancel withdrawal
Your cancellation will be completed instantaneously.