2

I just opened a Coinbase account and purchased one ETH. Then I looked up the ETH wallet address (right on Coinbase), went to etherscan and searched for this address....Account was found, but doesn't show any balance or associated transaction. Please, advice.

P.S. Coinbase shows a balance of 1ETH

2

I not a user of Coinbase, but from my common sense theory, they settle your balance only on at an outgoing transaction to reduce transactional expenses and to have an ability to exchange your ether balance to other currencies. If it's in your wallet and only you have a key to that wallet they can't spend your ether.

  • But the Etherscan also shows balance and the balance is 0. – Jake May 26 '17 at 19:19
  • 2
    My guess is that Coinbase holds a pool of ETH FBO (for the benefit of) its different users. Coinbase has assigned 1 ETH to you from that pool and recorded this in their own database. A transaction was not written on Ethereum blockchain. Only when you send to or receive from another address that is not held at Coinbase, a transaction would need to be written on the blockchain. This is just my speculation, though. – Ajoy Bhatia May 26 '17 at 20:56

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.