re: Official CryptoTalk Thread

quote:

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I looked into my ethereum wallet. It prompts you for a password to generate a wallet. This is your encryption password. Then it generates a file for you, which you save on your computer and a back up (flash drive). Then through that website you can upload a file; the one it generates for you, then it prompts for your password. Once you provide that it opens up the transfer screen and your ethereum "address" 42 character starting with a 0x. I just don't know if you can directly use this compatibly with CB

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Yes, myetherwallet is compatible with CoinBase.

Think about it in terms you understand like this: The bank has paper dollars. You can either keep $100 of your money at the bank, or you can withdraw it and put it anywhere in your possession. You can put it into a safe in your house, under your mattress, or into the wallet in your back pocket. Ethereum has the same options - CoinBase is the "bank" in this analogy, and you should be taking those ether out of CB and storing them on your own computer wallet (myetherwallet, Mist, nano S, etc.), which is the same thing as taking your dollars out of the bank and putting them somewhere in your house or in your back pocket.

If you have ethereum, you can send it back and forth from any ether wallet to any other ether wallet. CoinBase's wallet (your account with them) can send it to any other wallet that you create.