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. When you do send the coins, two transactions will be generated by Coinbase. 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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