GUIDE · MIGRATION · 10 MIN READ

How to move ALGO from Coinbase to MyAlgo

MyAlgo Wallet · 2026-04-29 · ~10 min read

This guide walks through transferring ALGO from a Coinbase exchange account to a self-custodial MyAlgo Wallet on desktop. The process takes approximately 10 minutes and involves three steps: setting up MyAlgo and getting your receiving address, initiating the withdrawal from Coinbase, and verifying receipt. Network fees are minimal (0.001 ALGO at the Algorand network level; Coinbase may charge an additional withdrawal fee depending on your account type). Test the transfer with a small amount first before moving significant funds.

Why move from an exchange to a self-custody wallet

Centralized exchanges hold your funds on your behalf. They control the private keys; you have an account balance with the exchange. This is convenient for trading but introduces custody risk — exchange failures, freezes, or insolvencies can affect access to funds (the FTX collapse in November 2022 is the cautionary example). Self-custody with a properly secured wallet eliminates that counterparty risk.

The trade-off: you become responsible for backing up your seed phrase. There is no password reset, no customer service that can recover funds, and no insurance. For users comfortable with that responsibility, self-custody is the stronger long-term security profile.

Before you start

You'll need:

A computer running Windows, macOS, or Linux
About 10 minutes of focused time
A Coinbase account with the ALGO you want to move
A safe place to store your seed phrase offline (paper, steel backup, or similar)

Step-by-step

Install MyAlgo and create a wallet

Download MyAlgo from /download for your operating system. Verify the publisher signature on the installer (Windows: Properties → Digital Signatures; macOS: Gatekeeper). Run the installer, open MyAlgo, choose Create new wallet, set a strong password, write down the 25-word seed phrase on paper, and verify the seed.

Get your MyAlgo receiving address

In MyAlgo, click on your account and copy the full 58-character Algorand address. Verify the first and last few characters match the on-screen display — clipboard malware is a real attack vector.

Initiate the Coinbase withdrawal

Log in to Coinbase, navigate to your ALGO balance, choose Send, select external address, and paste your MyAlgo address. Verify the address matches what MyAlgo shows.

Test with a small amount

Send 1-2 ALGO as a test before moving the full balance. The minor cost is much cheaper than a full transfer to a wrong address. Confirm the withdrawal with 2FA.

Verify receipt in MyAlgo

The transferred ALGO should appear in MyAlgo shortly after Coinbase processes the withdrawal. If it doesn't appear, check the transaction on a block explorer such as allo.info or Pera Explorer. If shown there, restart MyAlgo to refresh.

Move the rest and harden custody

Once the test arrives, repeat with the remainder. Back up the seed phrase in a second location. Consider Ledger hardware integration for larger balances. Opt in to ASAs you want to hold.

After the transfer

Back up your seed phrase in a second location if you haven't already. A single point of failure for self-custody is the seed; redundancy matters.
Consider hardware wallet security for larger balances. The Ledger support page covers integration.
Opt in to ASAs you want to hold (USDC, project tokens, NFTs). The opt-in flow is a one-time per-asset action.
Review staking options if you plan to hold ALGO long-term. The staking guide covers native nodes and liquid pools.

Returning users from the original web wallet should consult /migrate-from-myalgo. Architecture details for the current desktop client live at /security.

Frequently asked questions

How long does the transfer take?

Usually under 10 minutes end-to-end. The Algorand network confirms in ~3.4 seconds; the bulk of the time is Coinbase's internal processing.

Are there fees?

The Algorand network fee is 0.001 ALGO. Coinbase may charge an additional withdrawal fee depending on your account type and amount.

Can Coinbase reverse the transaction?

No. Once broadcast and confirmed on the Algorand network, the transaction is final. This is true of any blockchain transaction. Always verify the destination address before sending.

What if I sent to the wrong address?

If the destination is also an Algorand address you don't control, the funds are lost — there's no central authority that can reverse it. If the destination is invalid (not a real Algorand address), Coinbase's withdrawal flow should reject it before broadcasting.

Recovery FAQ

Get MyAlgo for desktop.

Native Algorand wallet — keys local, free, no telemetry.

Download MyAlgo