How to Transfer DAI from Coinbase to MetaMask

To transfer DAI from Coinbase to MetaMask, you need to add the DAI token to MetaMask.

Then, copy your MetaMask wallet address.

Paste it into the Send window on Coinbase.

Enter the amount in DAI/ fiat and complete the verification process.

Steps to Transfer DAI from Coinbase to MetaMask

1. Install MetaMask Wallet
2. Add DAI Token to MetaMask
3. Copy the MetaMask Address
4. Click Send/ Receive
5. Paste the MetaMask Address
6. Complete the Authentication
7. Check your MetaMask Wallet

1. Install MetaMask Wallet

If MetaMask is already installed, skip this step.

First, download the MetaMask.

After the downloading, click the browser extension.

Now, you need to set up your account.

The account setup process includes setting up a password and storing the recovery phrase.

You can refer to this guide for further reference: How to Create & Set Up MetaMask: A Step by Step Guide.

2. Add DAI Token to MetaMask

To receive, view, and send DAI in MetaMask, you need to add DAI token earlier.

To add DAI to MetaMask, usually, you need to copy-paste its contract address.

But, MetaMask has a list of inbuilt token lists from which we can add tokens in a single click.

To do this, launch your MetaMask and click Import Tokens.

Note: Make sure you are in the Ethereum Mainnet.

After clicking the Import Tokens, you will be in the Search tab.

Type as DAI in the given search box.

DAI stable coin will appear.

Click on it and click Next.

Then, click Import Tokens.

That’s it. You have added the DAI token to MetaMask.

3. Copy the MetaMask Address

Once you have added the DAI token to MetaMask, you need to copy your MetaMask address.

To copy the address, you need to simply click just above your ETH balance.

4. Click Send/ Receive

Sign in to your Coinbase account.

You will land on your dashboard.

There you will be able to see Send/ Receive in the upper right corner of the webpage.

Click Send/ Receive.

5. Paste the MetaMask Address

After clicking Send/ Receive, there will be a Send window.

Here, you need to enter the amount of DAI that you wish to send.

You can also enter the amount in the fiat currency by clicking the conversion icon.

Then, select DAI in the Pay with field.

Lastly, paste the MetaMask address that you have copied in Step 3 in the To field.

The Note field is the optional one. If you want you can mention something for your reference.

Click Continue.

6. Complete the Authentication

After clicking Continue, there will be a confirmation pop-up.

Take the time to review the address, amount, and gas fee.

Click Send Now.

Next, you need to authenticate the transfer.

Now, you will receive a verification code on your registered phone number.

Proceed with the transfer by entering the verification code.

7. Check your MetaMask Wallet

Your transfer will be successful after submitting the verification code.

You can head back to your MetaMask wallet and check the DAI balance.

You have successfully transferred DAI from Coinbase to MetaMask.

Conclusion

Transferring DAI from Coinbase to MetaMask is a straightforward process.

To receive DAI on MetaMask, you need to add the DAI token on MetaMask by copy-pasting its contract address.

The transfer time of DAI from Coinbase to MetaMask is 5-15 minutes. It may vary depending upon the network congestion.

If you want to convert your DAI to xDAI, you can use the xDai Bridge.

Note: If you want to receive/ store xDai to MetaMask, you need to add xDai network to it.

FAQs

1. Can I convert my Dai to xDai?

Yes, you can convert/ swap Dai to/for xDai. To do so, you need to use the xDai Bridge.

2. Where to stake Dai?

You can stake Dai, a stable coin into Oasis or you can earn interest via DeFi lending. You can also stake Dai in centralized exchanges such as Binance, Coinbase, Crypto.com, Kucoin, and more.