Buying crypto can be intimidating, but it doesn’t have to be. In this article, you’ll learn how to buy crypto from an exchange and send it straight to your Zelus wallet.
While you certainly can keep your cryptocurrency in an exchange-generated wallet, there are a number of reasons why you should consider transferring it to an alternative location, such as your Zelus wallet - listed below.
For this example, we will be using the popular exchange app Coinbase to purchase crypto but the process is very similar throughout most crypto exchanges.
First things first, open up your Coinbase app. This will take you to the home screen of the exchange. After your app loads, select “Trade” from the bottom menu:
Next, search for the asset you want to purchase. In this case, we will be looking to trade ETH ('Ethereum').
Enter the amount of ETH you want to purchase and select your preferred payment method. Tap on 'Preview Buy' to see the purchase details and incurred fees before confirming the purchase.
Your newly purchased crypto should be added to your Coinbase balance shortly.
Sending crypto to your Zelus wallet
Once your purchase in Coinbase is successful you can send your crypto to your Zelus wallet.
The first step of this process is to open your Coinbase app. Tap "Assets" on the bottom toolbar, and click the arrows facing opposite directions in the top left. This will prompt you with options to either send or receive crypto - for this example, we will be sending crypto from our exchange to our wallet.
After clicking “Send”, you will enter the amount of crypto you wish to transfer to your wallet:
After entering the amount of crypto you wish to send, you will then enter the wallet address you wish to send it to. When using the Zelus wallet, you can conveniently click the “Copy address” button in the top left of the app to copy your wallet address to your clipboard.
Finally, after entering your wallet information you will click “Send Now” to transfer the crypto.
Once the transfer completes you will be able to view your balance in your Zelus wallet. You can also select a cryptocurrency to view more information about that specific coin.
Once you have crypto in your Zelus wallet, you can easily send and receive currency directly from the Zelus app.
Keeping your crypto: Exchange vs. Wallet
Exchange-generated wallets are custodial wallets. In other words, you’re trusting a third party (the exchange) to secure your funds and grant you access whenever you want to trade or send them somewhere else. Although rare, there have been cases in the past of exchanges freezing or blocking users at inconvenient times. And while most exchange-generated wallets do offer a fair bit of security, they are also more likely to be the target of hackers.
Non-custodial wallets, on the other hand, give you complete control of your keys and therefore your funds. Keep in mind, however, that you are the sole responsible of keeping your keys secure - ideally stored in written form in a location only you know.
Your Zelus wallet is a non-custodial wallet that is tailored for the best possible user experience and provides an intuitive and simple UI with the best NFT support out there.