Can I use Coinbase wallet to receive storj payments?

Hi All,

I am a new storage operator (started in April).
I used my Coinbase wallet address when I started the node.

But looking at the following documentation, now I am not sure if I can:

It say ERC-20 compatible wallet which Coinbase wallet is but the next part to which you hold the private key yourself. that confuses me.

It is very important to note that an exchange address is not a valid address unless it is of the type that enables you to hold the private key yourself (decentralized exchange).

I guess the above statement is very clear on that.

I have the following questions:

  • Can I use the Coinbase wallet to receive the payouts?
  • If not I can change the address but will it affect the payout and how would that be resolved?

Thank you for your help.
And now the next question

You should use something like MEW

You shouldn’t use Coinbase address. Coinbase does not support Storj tokens. You will lose any Storj sent to Coinbase address.

Check this link:

You can clearly see

Storj is not supported by Coinbase.

Yes. You can change the wallet address by following this guide. Change it immediately before payments are sent

https://documentation.storj.io/resources/faq/how-do-i-change-my-parameters-such-as-payout-address-allotted-storage-space-and-bandwidth

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I have changed the address, I am not sure if storj tried to pay in the old address, would I be getting any notification via email or somewhere where it says the payment is done?

Thank you for your response.

Payments are done for previous month in first 2 weeks of current month.

You can register on etherscan.io and add your address in the watchlist so you get email notifications when any payment is made.

The payments for April haven’t gone out yet, you can usually keep an eye on the transfers at the bottom of this page. (Hope I have the right one!)

To note if you wish to move the Storj tokens to another account to sell you would then need some Ethereum in your MEW account to send it.

I’m on iOS and didn’t see an option to sell in the app, I may have missed a feature though.

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I use Atomic wallet. It can exchange storj to eth directly in the wallet.

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Yes you can, and you hold the private keys.(also make backup of them, :slight_smile:)
Just make sure you use the right address for Storj tokens. Go to receive, and find the token, copy the address…

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I use coinbase wallet personally to hold my STORJ from SNO payouts. I think there is a bit of confusion between the Wallet application (https://wallet.coinbase.com/) and the Consumer trading application (https://www.coinbase.com/).

If you use the wallet, you can not buy and sell on coinbase

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True but the more tech savvy people will understand the difference. So to avoid any further confusion for layman I would still recommend suggesting people to use MEW.

For most it’s a question of whether to use Coinbase or not. Throwing the explanation of what those 2 links mean would need more effort.

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I use exodus pretty simple to use can exchange storj to any other coin you want inside the app.

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Yes, finally - the app “Coinbase Wallet” works just fine to receive STORJ.

I’ve seen various people in these forums instantly respond ‘No, you can’t use Coinbase Wallet!’, not understanding that ‘Coinbase’ & ‘Coinbase Wallet’ are two separate services.

Thank you all for your valuable inputs.
Still lot to learn for me :slight_smile:

I see the difference and yes I did not use the Coinbase wallet, I had it but I used the address from the coinbase trading app when I configured the node.
Anyways I see that getting the storj from that app is a lost cause (as I do not know the private key and there have been many people asking Coinbase to support it but they haven’t).
[Just my novice opinion but somehow I did not like the way Coinbase operates - why create two modes and confuse people]

To avoid confusion I agree that its better to use MEW or other wallets that allow total control of your keys.

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After lots of experimentation and several mistakes/wrong turns/lost time and funds, I’ve found that using Metamask and adding an account for my STORJ payments works out great. Metamask provides web3 injection to use various DEX platforms such as uniswap … So, all I need to do is have about $1.00 in ETH in the account address that receives my STORJ payment.

For long term tokenized funds, I have a cold wallet address.

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@beast, could you provide a step by step instruction on how to get Metamask to work. I have also lost payments due to something not working correctly with what I am doing. I have read about using MEW, Metamask, and Atomic wallet, all with no success, either not receiving Storj into my wallet, ot like Atomic (and also Nicehash) the fees are way too high to received Storj to the point the fees are greater than the amount received.

there’s no fee for receiving storj tokens on atomic wallet. exchanging them to something else of course has network fees, but that’s the case everywhere unless your wallet is directly linked to an exchange.

I would like to suggest you to check your addresses on the https://etherscan.io/ on the Tokens tab.
I think you have not lost anything. Especially if you have a private keys for those addresses

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