Lesson Learned re Coinbase Wallet vs. Vault

in cryptocurrency •  7 years ago  (edited)

Coinbase lesson regarding moving BTC from "My Wallet" to "My Vault". I'd like to share as it may help others avoid the same experience. 

Background

Recently I moved a small amount of BTC from "My Wallet" to "My Vault". As I understand it the vault is like another wallet so you can separate out some crypto coins for purposes of organizing or for whatever purpose you choose. I did that and then wanted to send BTC to an exchange outside of Coinbase. 

Challenge

In so doing I realized you can not send from the Vault but rather must send from a wallet. So I began to initiate the process of transferring from the vault to the wallet. The request was initiated and every time I went back to check the status it said pending approval. At first, I thought that meant pending approval within Coinbase. As a result of time, and doing some homework on Coinbase Support site, I discovered that the pending transaction was waiting on my approval. 

Solution

As a built in security measure in order to complete this type of transfer (from vault to wallet) the owner/account holder has to receive and respond to not one but two emails - primary and secondary. As soon as I completed this small and easy action it moved along very quickly and without any issues.

This is in the category of what I call you learn something new every day. In the crypto world, I think it is more like you learn something new every hour of every day.

I hope this is a small help to someone facing the same issue.

@cryptobk out.

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