Deposit from Coinbase to Peanut
Send USDC from Coinbase to Peanut — completely free on every network. The easiest way to fund your account.
How to Deposit from Coinbase to Peanut
Coinbase is the simplest and cheapest way to deposit into Peanut. USDC withdrawals from Coinbase are completely free on every supported network — Coinbase covers the network fees. Combined with Peanut's zero deposit fees, the entire transfer costs you nothing.
Send USDC from Coinbase to your Peanut deposit address, and your balance arrives in minutes. Once funded, your money is held in digital dollars and ready to pay at over a million merchants in Argentina, send Pix in Brazil, transfer to friends and family, or withdraw to a bank account in 40+ countries.
Before You Start
Info
Make sure you have the following:
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A verified Coinbase account. Coinbase requires full identity verification (government ID plus selfie) before enabling withdrawals. Complete this before you need to send funds.
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USDC in your Coinbase account. You can buy USDC directly on Coinbase with a bank transfer or card, or convert other holdings to USDC. If you hold USD on Coinbase, converting to USDC is free.
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A verified Peanut account. You need a Peanut account to generate a deposit address. Verification takes under 2 minutes for most users.
How to Deposit from Coinbase
- 1
Open Peanut and copy your deposit address
In the Peanut app, tap "Deposit" and select your preferred network. Base, Polygon, Arbitrum, and Solana all work and are all free from Coinbase. Copy the deposit address.
- 2
Open Coinbase and select USDC
In your Coinbase account, navigate to Assets and select USDC.
- 3
Tap Send and choose Send crypto
Select the on-chain send option. This sends USDC to an external wallet address.
- 4
Paste the Peanut deposit address
Paste the address you copied from Peanut into the recipient field. Double-check it matches exactly.
- 5
Select the matching network
Choose the same network you selected in Peanut. Base is a great choice — Coinbase built Base, so it is well-integrated and reliable. The network must match exactly.
- 6
Enter the amount and confirm
Enter the amount, review the transaction (fee should show as $0 for USDC), and confirm.
Your Peanut balance updates automatically once the transaction confirms. Most deposits arrive within 1–10 minutes.
Why Coinbase Is the Best On-Ramp for Peanut
Coinbase stands out for three reasons:
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USDC withdrawals are completely free. No network fees, no processing fees, no minimum amount. Every other exchange charges at least something for on-chain withdrawals.
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Available in the US and 100+ countries. Coinbase is fully licensed in the United States and operates globally, making it the most accessible option for US-based users.
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Base network integration. Coinbase built the Base network. Base withdrawals are fast, free, and reliable — making Base plus USDC the ideal combination for Peanut deposits.
Choosing a Network
All USDC withdrawals from Coinbase are free regardless of network. Pick based on speed and personal preference:
- Base — recommended. Built by Coinbase. Fast confirmations, free withdrawals, reliable.
- Solana — fastest. Confirms in under 1 minute. Free.
- Polygon — fast and proven. Confirms in about 5 minutes. Free.
- Arbitrum — fast L2. Confirms in about 1 minute. Free.
- Ethereum — works but slower. Confirms in a few minutes. Still free for USDC, but slower than L2 options.
Fees
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Peanut deposit fee: free. Peanut charges nothing for deposits.
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Coinbase USDC withdrawal fee: free. Coinbase covers network fees for all USDC sends. This makes Coinbase plus Peanut a completely zero-cost transfer.
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Coinbase USDT withdrawal fee: not recommended. USDT on Coinbase is only available on Ethereum and carries a network fee plus a 0.01% processing fee. Use USDC instead.
For a full overview of fees, visit the pricing page.
FAQ
How long does a deposit from Coinbase to Peanut take?+
Most deposits arrive within 1–10 minutes depending on the network. Solana is typically the fastest at under 1 minute. Base and Arbitrum take about 1 minute. Polygon takes about 5 minutes. Ethereum can take up to 10 minutes during congestion.
Is it really free to send USDC from Coinbase to Peanut?+
Yes. Coinbase covers network fees for all USDC withdrawals, and Peanut charges no deposit fees. The entire transfer is completely free. This applies to all supported networks — Base, Polygon, Solana, Arbitrum, Ethereum, and Avalanche.
Should I use USDC or USDT from Coinbase?+
Use USDC. Coinbase only supports USDT withdrawals on Ethereum, which incurs a network fee plus a 0.01% processing fee. USDC withdrawals are free on every network. Since your Peanut balance is held in digital dollars at a 1:1 rate with USDC, there is no conversion needed.
What happens if I select the wrong network?+
Sending on a network that does not match your Peanut deposit address will result in permanent loss of funds. Always confirm the network in both Coinbase and Peanut before sending. When in doubt, start with a small test transaction.
My deposit from Coinbase has not arrived — what should I do?+
Check the transaction status in Coinbase. If it shows as completed, find the transaction hash and look it up on the relevant block explorer. If confirmed on-chain but not in Peanut, contact Peanut support with the transaction hash. See the deposit troubleshooting guide for next steps.
Can I send from Coinbase Wallet instead of Coinbase Exchange?+
Yes. Coinbase Wallet is a separate self-custody product that also supports sending USDC to external addresses. However, Coinbase Wallet does not cover network fees — you will pay gas costs from your own wallet balance. The free USDC send feature is exclusive to the Coinbase Exchange.
