Using Coinbase.com with Rally and $RLY

How having a Coinbase account can maximize your Rally/$RLY experience

Coinbase.com is one of the most popular cryptocurrency exchange (CEX) platforms. Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and $RLY. Coinbase has an easy to use website and smartphone app, and works seamlessly with Rally.io. The interface does not require any crypto expertise — If you’ve used PayPal, you can use Coinbase.

The information in this article refers to the website Coinbase.com and the Coinbase app, and not Coinbase Wallet, which is a separate product by Coinbase.

If you have any comments or questions on your Coinbase experience, let us know in our Discord!

Creating a Coinbase Account

Your first step is to create a Coinbase account. There are a few steps to complete, so you should give roughly 20–30 minutes to complete the setup. Once you have your Coinbase account set up, you can connect your bank account and safely purchase crypto.

Note that Coinbase deploys flow controls around deposits and withdrawals. In simple terms, flow controls are processing rules that govern how soon you can access funds in your account.

Buying Creator Coins from your Coinbase.com Account

A major benefit of purchasing Creator Coin using cryptocurrency is that there is no purchase limit. Coinbase makes it super simple to use crypto to purchase Creator Coin.

You can use Coinbase to purchase Creator Coin directly from a coin page. Assuming you own another cryptocurrency such as Bitcoin (BTC), Ethereum (ETH), or other crypto supported by Coinbase, use the Buy > Cryptocurrency feature on Rally.io to exchange that cryptocurrency for a Creator Coin!

  1. Go to the coin page for the coin you want to purchase and click Buy.

  2. Under Select Buy Method, click Cryptocurrency and click Next.

  3. Type the amount you want to buy. There is no limit (for example, type 5000 for $5000 USD worth of the Creator Coin) as long as you hold at least that amount in a cryptocurrency in your Coinbase account. Then click Next.

  4. The next screen simply shows the amount and that you will be paying via Coinbase Commerce. Click Next.

  5. Click the Pay with Coinbase option at the top of the purchase flow to access your Coinbase account to complete the purchase. A new window will open connecting you to your Coinbase account.

  6. Under Pay With, select the cryptocurrency you hold in Coinbase that you want to convert to the selected Creator Coin. Then click Send Now.

Bridging Out $RLY to your Coinbase.com Account

To move $RLY out of Rally.io, it is known as “bridging out.” Bridging out has a few steps.

Step 1: Complete the KYC process with our partner PTI

Before you can Bridge Out, your account must be at least 7 days old and you will need to complete a Know Your Customer (KYC) verification process, which can take an additional 2–3 business days. There are some locations where bridge out is currently prohibited.

Step 2: Bridge Out to Coinbase.com

The following steps assumes you have setup a Coinbase.com account and your KYC application has been approved. If you want to sell a Creator Coin to cash, and send that cash to your bank account via Coinbase:

  1. On Rally.io, use the Trade > Convert feature to exchange any Creator Coin you hold for $RLY. This transaction will be listed as a “Sell” transaction. A small percentage of your sale will go to the Creator whose coin you are selling.

  2. Go to Trade > Bridge Out to bridge out $RLY to Coinbase.com. Follow the steps in the Receive section of this Coinbase help article to learn how to generate a proper receive address for $RLY into your Coinbase account. You will need to paste this address into the Bridge Out flow. IMPORTANT: After clicking the Receive option in Coinbase.com, make sure to choose RLY as the asset you would like to receive. It will likely have defaulted to a different asset type, like Ethereum or Bitcoin instead of RLY.

  3. Complete the Bridge Out steps.

Step 3: Convert $RLY to cash in Coinbase

  1. Once $RLY is in your Coinbase account, you can convert the $RLY to cash by following this Coinbase help article.

  2. You can then withdraw the cash to your bank account within Coinbase.