Complete Guide to Withdrawing and Securing Your Bitcoin 2

Getting Bitcoin Out of Coinbase

Withdrawal Steps

1. Log into your Coinbase account
2. Navigate to Assets/Portfolio
3. Select Bitcoin
4. Click “Send/Receive”
5. Choose “Send”
6. Enter the destination Bitcoin wallet address
7. Specify the amount
8. Review network fees and confirm

Before Withdrawing

• Set up your new wallet first (see below)

• Always send a small test transaction first

• Double-check addresses carefully

• Consider network fees and timing

Choosing a Wallet

Hardware Wallets (Most Secure)

• Ledger Nano X/S

• Trezor Model T/One

Hardware wallets are physical devices that store your private keys offline, providing maximum security against hacking attempts.

Software Wallets (Decent Security)

• BlueWallet (mobile)

• Electrum (desktop)

• Wasabi Wallet (desktop)

Understanding Your Seed Phrase

What Is a Seed Phrase?

• A series of 12 or 24 random words in a specific order

• Acts as a master backup for your wallet

• Allows recovery of your Bitcoin if your wallet is lost/damaged

• Example format: “apple beach cat dog echo fan…”

When You Get Your Seed Phrase

Your seed phrase is generated when you first set up a new wallet. During initial setup, your wallet will:
1. Generate and display the seed phrase
2. Ask you to write it down
3. Require you to verify the words in order

Critical Security Rules for Seed Phrases

🚫 NEVER:

• Store digitally (no photos, no digital documents)

• Share with anyone

• Enter on websites

• Send via email or messaging

• Store in cloud storage

• Take screenshots

✅ DO:

• Write on paper or stamp on metal

• Store in a secure location (safe)

• Make a backup copy in a separate secure location

• Verify you’ve written it correctly multiple times

• Keep private - no one should ever ask for it

Best Practices for Bitcoin Security

1. Enable 2-factor authentication on all accounts
2. Use unique, strong passwords
3. Keep software and firmware updated
4. Start with small test transactions
5. Double-check all addresses before sending
6. Consider splitting holdings between multiple wallets
7. Regular backup checks of seed phrases

Warning Signs of Scams

Be aware that:

• Legitimate companies will never ask for your seed phrase

• No one needs your private keys to send you Bitcoin

• Real support will never ask you to transfer funds to them

• If something seems too good to be true, it probably is

Next Steps

1. Choose and purchase your wallet
2. Set up the wallet and secure your seed phrase
3. Test with a small withdrawal from Coinbase
4. Once confirmed working, proceed with larger transfers
5. Regularly verify your backup procedures

Remember: Taking custody of your own Bitcoin means you are your own bank. While this provides maximum security and control, it also means you are solely responsible for keeping your Bitcoin safe.