General Guide

What can you do with CoinCola wallet?

May 21, 2021

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What can you do with CoinCola wallet?

What do you expect a crypto wallet to be? Maybe you only regard CoinCola wallet as a tool to access your cryptocurrencies. This thought is incomplete.

We often receive some feedback about crypto wallet. Some wallet users often tell us how stressful it is to send money with the fear of having copied and pasted addresses incorrectly. They also confused about how minimum amount they can send out or in. It is a little cumbersome for new users to deal with crypto wallets.

However, don’t worry. In this article, we will be giving you an introduction to CoinCola wallet.

What does CoinCola wallet work?

There are three main categories for the usage of CoinCola wallet: storage, transferring, and red packet sending which is the innovative feature of CoinCola wallet.

Storage: Even though numerous types of crypto wallet are used for bitcoin storage, crypto wallet, embedded in the trading account and created by crypto trading platform, such as CoinCola, is the easiest way to store bitcoin after buying it. Wallet users can check balance when they sign in CoinCola account instantly. Furthermore, with CoinCola wallet, you can store crypto in OTC and Exchange respectively. There is to say, when you buy bitcoin from the OTC market, the bitcoin will be stored in the OTC wallet. It also can be transferred from OTC to Exchange, which is called internal transfer without a fee.

Transferring: Transferring crypto is a frequent operation for most traders. Internal and external transfers are two kinds of wallet transfers. We have introduced internal transfer above. On the other hand, sending BTC from one crypto wallet (such as CoinCola wallet) to another wallet is an external transfer. Moreover, crypto transferring can come in two forms: withdrawal(sending out) and deposit(sending in).

Sending red packet: In CoinCola wallet, you can find “Red Packet” that provides a new way for wallet users to operate their cryptocurrencies. You can create a red packet and share cryptocurrencies with your friends. Your friends will be glad to receive it. It is mostly used for celebrating holidays. Be interested in it, try it now!

How to transfer cryptocurrencies?

Except for storage, transferring is the basic function of a crypto wallet, including withdrawal and deposit.

In CoinCola wallet, every cryptocurrency has its wallet address, which is a direction that leads directly to your cryptocurrency wallet of CoinCola. Each cryptocurrency wallet is assigned an address, which people can use to receive coins. While cryptocurrency’s wallet address is different between OTC and Exchange accounts, users need to be careful about where to transfer to.

A cryptocurrency wallet address comes in two forms: a long string of alphanumeric numbers or a QR code that can be scanned. When you want to withdraw or deposit coins, you need to copy or scan this address.

What about withdrawal and deposit? And, how to withdraw and deposit coins successfully on CoinCola?

While you plan to send bitcoin from CoinCola to the other crypto wallet, you need to withdraw. You should copy a bitcoin address where you want to send it in. Then go back to CoinCola wallet. On the page of “withdraw”, paste the address copied from the other wallet, input how much BTC you want to send it in. Please notice that the minimum withdrawal amount is 0.0003 BTC and you have to pay 0.0004 BTC for the network transfer fee. The total withdrawal amount should be 0.0007 BTC including the fee. If less than this, the transfer will fail and BTC will be lost.

While you would like to send bitcoin into CoinCola, it means to deposit in the CoinCola wallet. You have to copy the bitcoin address from CoinCola and operate in the other crypto wallet. Meanwhile, the minimum amount you want to deposit is 0.0001btc.

CoinCola wallet supported some main cryptocurrencies, including Bitcoin, Ethereum, XRP, USDT, Bitcoin Cash, and so on.

We hope you enjoy using CoinCoal. Feel free to reach us when you have any question: +852 90653442(WhatsApp)

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