Coinbase Exchange now supports Counterparty Transfers, enabling seamless, off-chain crypto transfers between Coinbase Exchange, Coinbase International Exchange, and Prime accounts. This feature allows for instant, fee-free transfers without blockchain confirmations.
Getting Started
To use Counterparty Transfers, you’ll need your Counterparty ID. This unique identifier is tied to your portfolio and is required for sending or receiving funds.
How to Find Your Counterparty ID
1. Log in to Coinbase Exchange.
2. Navigate to the Portfolio tab.
3. Select the 'Deposit' box.
4. Select a Crypto asset, i.e. BTC.
5. Select Counterparty.
6. My Counterparty ID is displayed.
How to Deposit Funds via Counterparty Transfers
1. Obtain the Counterparty ID of the portfolio you want to deposit into.
2. Share this ID with the sender.
3. The sender will initiate the transfer using your Counterparty ID.
How to Withdraw Funds via Counterparty Transfers
1. Navigate to the Portfolio tab in Coinbase Exchange.
2. Select the portfolio you want to withdraw from.
3. Click Withdraw and choose the Counterparty option.
4. Enter the recipient’s Counterparty ID and the amount to transfer.
5. Confirm the details and complete the transfer.
FAQs
What is a Counterparty Transfer?
A Counterparty Transfer is an off-chain transfer method allowing instant, fee-free crypto transfers between Coinbase Institutional accounts.
Do I need a different Counterparty ID for each asset?
No, a Counterparty ID is specific to your portfolio and works across all assets in that portfolio.
Can I transfer fiat via Counterparty Transfers?
No, only crypto assets are supported.
Are transfers subject to delays?
No, transfers are instantaneous and not dependent on the type of crypto.
Can I do a Counterparty Transfer via API?
Yes, you can read our API docs to learn more.