Not sure how it will make sense for them to re-use this amount later though, with the current transaction fee costs. On the day of my transaction, a lot of transactions happened simultaneously coming from that 0.5 BTC master account and funneling through to multiple coinbase-controlled addresses to finally include the destination address I had specified with the right amount.Īnd their algorithm seems to have some losses because there was a small surplus at the end, and they ended up putting 0.00000866 BTC in an address.
#TRANSACTION HISTORY COINBASE APP SERIES#
Some more details from what I saw tracing where the money I spent came from: coinbase had made a series of transactions starting from an account that was holding 0.5 BTC since 23 days.
When I did the "send" in coinbase, a transaction ultimately went from a coinbase-controlled directly to the destination address and never went through an address controlled by me (e.g. This is not true from the usage that I've done. Then moves the coins from this address to the address you specified in The first transaction moves the coins from an address controlled byĬoinbase to a new address controlled by you. I'm no expert but I'm a user of coinbase and noticed there's a mistake in ScripterRon's answer. Since Coinbase keeps just a percentage of the coins in their hot wallet, this can lead to a delay in sending coins if they need to move coins from cold storage back to their hot wallet. Or you can generate a new address at any time to receive deposits. You can send coins to any of the addresses shown in your Coinbase wallet. The second transaction then moves the coins from this address to the address you specified in the send request. The first transaction moves the coins from an address controlled by Coinbase to a new address controlled by you. Note: Please allow up to five minutes for your transactions to sync. On the right side of the screen, you can apply filters to view by type of transaction, wallet, and asset type. When you do send the coins, two transactions will be generated by Coinbase. You should see all of your Coinbase transaction history. The coins won't show up in an address owned by you until you send the coins to a non-Coinbase address. It also allows them to process send requests between Coinbase users using off-blockchain transactions.
This allows them to buy and sell coins using their hot wallet as well as allowing them to move excess coins to cold storage. The coins you purchase are stored in an address owned by Coinbase.
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