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Yes I am a newbie trying to get started with Coinbase. I have created a wallet and it seems there is no way to back-up that wallet for safety reasons. I am still confused, can I send an amount from that wallet to a offline wallet and what would the steps be? Thank you.

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You will want to get the address to send it to and it's always good to have multiple wallets but you should be able to contact the wallet company and they can tell how back up the wallet

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  • Thank you much. So the address is what is needed. Now I understand better. Still trying to understand the nuts and bolts of how this works at the simplest level. So I can create a wallet anywhere and move coin to it? Right now I have Armory wallets but didn't understand how I was going to utilize them.
    – user71172
    Dec 27 '17 at 12:52
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Coinbase is an exchange, the least secure way to store your coin. They own the wallet and therefore have ultimate control of your funds. The next best option is to secure your coin on a 'hot wallet' dedicated online wallet (you can use blockchain.info). The next best would be a software wallet which allows you to store your coin on your phone or computer (you could use jaxx, mycelium or electrum), the benefits of these is that you have more control and have control over you private key & recovery seed. The ultimate in security is a 'cold wallet' such as ledger & trezor which gives you complete control over your private keys and recovery see but has added benefits of being offline until required and avoids other cyber security risks such as keyjacking.

Some of the wallets are free, others you have to buy (usually the hardware wallets). Once you have set up your new wallet you can easily transfer your coin from whatever exchange (including coinbase) and backup your new wallet.

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  • Thank you I understand most of what you have wrote. I have established some other wallets using Blockchain and Armory but have not used any wallets or bought/sold anything yet. . . . Some of my confusion lies in the fact a Coinbase wallet is only identified by an address . . Blockchain is called "wallet ID" and Armory wallet has a ID with a password and rootkeys to recover the wallet.
    – user71172
    Dec 27 '17 at 12:45

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