How to transfer my money from coinbase to my bank account

What’s the difference between the Coinbase app and the Coinbase Wallet app?

The Coinbase app (available on iOS and Android) is the company’s product for individuals looking to buy or sell cryptocurrencies, also available at Coinbase.com. It is an easy, secure, regulated on-ramp to crypto using US dollars or other local fiat currencies. You can safely store crypto on Coinbase so you don’t have to worry about managing your own private keys. Coinbase.com and the mobile apps are available in more than 100 countries.

The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the decentralized web with a dapp browser. You do not need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet helps users manage their own private keys and store their crypto assets directly on their devices, not with a centralized brokerage or exchange. You cannot connect Coinbase Wallet to your bank account to buy or sell cryptocurrencies with US Dollars or other fiat currencies. You can download and use Coinbase Wallet anywhere in the world.

At a Glance: To withdraw money from Coinbase, users must first convert their crypto to fiat. Once all of the crypto has been converted to fiat, the balance can be withdrawn.

Over the last few years, Coinbase has attracted millions of users, making it one of the most used platforms in the world for buying, trading, and cashing out crypto. If you’ve just gotten started with Coinbase, you may have noticed that there’s a bit of a learning curve, especially when it comes to how you withdraw money from your Coinbase account. But don’t worry – we’re here to help. Read on to learn how to easily cash out of your Coinbase account!

What is Coinbase?

Coinbase was founded in 2012 as a place to send and receive Bitcoin. Since then, the company has grown to support dozens of unique cryptocurrencies and has users in more than 100 countries. Coinbase runs two separate trading platforms (Coinbase and Coinbase Pro) in addition to a standalone cryptocurrency wallet service (Coinbase Wallet).

How to Withdraw Funds from Coinbase

Coinbase serves millions of people all over the world. It offers multiple services, such as trading, selling, buying, storing, and stacking crypto, regardless of whether you are an institutional or a retail investor.

The Coinbase user interface for the web and mobile platforms is, generally, intuitive. They can, however, get a little tricky when it comes to withdrawing funds from your Coinbase account. In order to withdraw funds from Coinbase, you will have to go through the following steps:

  1. Crypto to Fiat Conversion
  2. Withdraw Your Fiat Balance

At first glance, these steps might seem complicated, but they’re, really, very simple. Read on to learn more about each of these step

Crypto to Fiat Conversion

The first thing you have to do is to convert your crypto to fiat. In order to do this, you must convert your crypto into fiat currencies like EUR or USD. To do this you must: 

  1. Log in to your Coinbase account
  2. Click the “Trade” button on the navigation bar; or
  3. Click the “Buy/Sell” at the top-right of your screen
  4. Input the amount that you want to trade for fiat in the dialogue box
  5. Go to the “Sell” tab at the top of the screen
  6. Input how much of your crypto you want to convert
  7. Pick the crypto asset whose balance you want to convert
  8. Choose the fiat currency you wish to withdraw in

Click on “Preview Sell” after performing these steps and confirm the transaction details. You will then get a window with the confirmation on your screen, which will not only show you how much your fiat wallet will receive but also how much you are charged in fees.

Withdraw Your Fiat Balance

Now that you’ve converted your crypto into one of the fiat currencies, you can bring the process of withdrawing your funds from Coinbase. To cash out of Coinbase, you need to: 

  1. Navigate to the “Portfolio” page
  2. Scroll down to the “Your assets” section
  3. Find the fiat balance you converted and select it
  4. Return to the “Your assets” page
  5. Click on the “Withdraw” tab
  6. Input in the withdrawal amount 
  7. Click on “Withdraw all”
  8. Click on the “Withdraw” button to confirm the withdrawal
  9. Choose the preferred payment option
  10. Click “Continue”
  11. Confirm or edit your transaction details
  12. Click “Withdraw now”

After you click “Withdraw now”, the transaction will process and you may be charged a fee, depending on the currency you chose to cash out. 

It’s important to note, also, that the payment options include SEPA, bank account transfers, PayPal account transfers, wire transfers, or credit or debit cards.

Be aware that this will only work if you have connected the chosen payment method beforehand. To learn more about adding a payment method to your Coinbase account, read on.

How to Add a Payment Method to Coinbase

Adding a payment method to Coinbase is pretty easy. All you have to do is: 

  1. Click on your profile picture at the top-right of the screen
  2. Navigate to your “Settings” in the dropdown menu
  3. Go to the “Payment Methods” tab
  4. Click the “Link a New Account” button

After you click the “Link a New Account” button, a dialogue box will pop up on your screen, showing you which payment methods are available. Pick your preferred payment method from the available options and follow the instructions given in the dialogue box.

The most common methods will include the ability to add a:

  • Bank account
  • PayPal account
  • Credit/ Debit card

The availability of some options may be limited by your location. For instance, a PayPal account may only be added in regions where PayPal is available. Similarly, your bank account and your credit or debit card may have restrictions.

Please note that the payment methods available to you will depend on your location.

To finalize the addition of the payment method, Coinbase will require you to verify the account and may charge a small fee. Once verified, the new account will be included in the payment options list and you can use it to withdraw funds in the future.

How to Withdraw Crypto from Coinbase

Withdrawing crypto from Coinbase is a process that can be done in a few simple steps. Here is how you do it:

  1. Click the “Buy/Sell” button at the top-right of the page
  2. Trade for or buy the crypto you want to withdraw
  3. Navigate to the “Send/Receive” page
  4. Input the amount and asset you to withdraw in the dialogue box
  5. Add an email address in the “Address” field (free); or
  6. Add  a crypto address in the “Address” field (will have fees)
  7. Choose the asset you wish to withdraw
  8. Click on “Continue” and 
  9. Confirm or edit your transaction details
  10. Click “Withdraw now”

After you finalize the transaction, your withdrawn crypto funds will reach your account sometime between a few minutes or a few days, based on the asset and network you chose. 

How to Withdraw Funds from Coinbase Pro

Coinbase offers a premium alternative called Coinbase Pro. While the two versions of the crypto trading platform differ in a few key ways, the withdrawal process on the two platforms is very similar.

To withdraw from Coinbase Pro, you can either withdraw as a fiat currency (as explained above) or send the money to an external wallet using the following steps:

  1. Navigate to the “Portfolios” page
  2. Click on “Withdraw” 
  3. Select which asset you wish to transfer in the dialogue box
  4. Choose to transfer to “Coinbase.com”
  5. Enter the amount you want to send
  6. Enter the other withdrawal details 
  7. Click on “Withdraw”

Once your funds arrive in your Coinbase.com account, follow the instructions outlined in the “How to Withdraw Funds from Coinbase” section above to move funds to your PayPal account, bank account, or another account.

How to Withdraw Crypto from Coinbase Pro

To withdraw cryptocurrency from Coinbase Pro, follow these steps:

  1. Navigate to the “Trade” page
  2. Click the “Withdraw” button 
  3. Select the asset to withdraw in the dialogue box
  4. Choose to transfer to “Crypto Address”
  5. Input the crypto address to transfer the funds to
  6. Input the amount to be transferred
  7. Review the network fees and confirmations
  8. Click ‘Withdraw’ to complete the transaction

After you finalize the transaction, your withdrawn crypto funds will reach your account sometime between a few minutes or a few days, based on the asset and network you chose. 

Coinbase Crypto Withdrawal Fees

Fees for withdrawals vary by crypto type. As of this writing, these are the current Coinbase fees for crypto withdrawals by type:

CryptocurrencyWithdrawal FeeEuro0.15 EURUS Dollar25.0 USDBitcoin0.00000423 BTCEthereum0.002058 ETHCardano0.2 ADASolana0.000005 SOLPolkadot0.02 DOTDogecoin1.4 DOGEUSD Coin8.015 USDCUniswap0.302261 UNIAvalanche0.005 AVAXLitecoin0.0000042 LTCShiba Inu184712.0 SHIBBitcoin Cash0.00000226 BCHWrapped Bitcoin0.0001323 WBTCChainlink0.17305832 LINKStellar0.0 XLMPolygon4.8 MATICCosmos0.0025 ATOMInternet Computer0.0 ICPAxie Infinity0.057 AXSDai8.013 DAIEthereum Classic0.00042 ETCTezos0.00142 XTZAlgorand0.002 ALGOFilecoin0.003 FILEOS0.0 EOSAave0.013 AAVEQuant0.014 QNTMaker0.0016 MKRThe Graph5.2 GRTDash0.00011879 DASHOMG Network0.28830993 OMGZcash0.0000226 ZECChiliz13.0 CHZSushi0.37 SUSHICelo0.0 CELOEnjin Coin2.56 ENJyearn.finance0.000117 YFIDecentraland6.86070727 MANASynthetix Network Token0.464 SNXCurve DAO Token1.42 CRVBasic Attention Token7.59388039 BATCompound0.013 COMPRen4.0 RENPound0.0 GBP1.0 GBPNuCypher3.139488 NUBancor0.989693 BNTHorizen0.0 ZEN0x5.3793898 ZRXPaxos Standard+4.01 USDPUMA0.473 UMAIoTeX59.0 IOTXFetch.AI5.7 FETGolem+7.96165166 GLM1INCH1.16 1INCHLoopring9.0 LRCAmp83.0 AMPLivepeer0.142 LPTPolymath6.0 POLYStorj3.19 STORJKeep network4.8 KEEPiExec RLC0.92 RLCKyber Network2.43087629 KNCNKN8.3 NKNCOTI8.3 COTICivic11.07758891 CVCBand Protocol0.47 BANDOrigin Protocol6.23 OGNAugur0.16403551 REPEnzyme0.031 MLN+Mirror Protocol1.4 MIRNumeraire0.092 NMRRequest18.0 REQSKALE11.4 SKLAnkr42.0 ANKROrion Protocol0.53 ORNAlchemy Pay65.0 ACHBalancer0.18 BALDFI.Money0.00105545 YFIILoom Network51.04243842 LOOMAmpleforth Governance Token0.234 FORTHHarvest Finance0.022 FARMdistrict0x32.26655258 DNTTellor0.075 TRBQuickswap0.01 QUICKOrchid Protocol8.21948638 OXTClover Finance3.3 CLVBarnBridge0.171 BONDRari Governance Token0.134 RGTTribe5.0 TRIBEBraintrust0.43 BTRST

Why Can’t I Withdraw from Coinbase?

If you are unable to sell or withdraw from Coinbase, it could be due to one of a few reasons:

  • There are restrictions in your region
  • You are a new account holder
  • You haven’t completed the verification
  • You have recently made a purchase with a credit card
  • Your account has been flagged for fraud

Depending on which of the above reasons you are unable to withdraw from your Coinbase account, your solution will vary.

Read More About Crypto

Withdrawing from Coinbase Next Steps

There are plenty of reasons to transfer from Coinbase. Maybe you need a cash flow infusion. Maybe you’re interested in diversifying your crypto portfolio. Or maybe you want to check out a Coinbase competitor like Binance. Whatever your reasons, the guides above will help you reach those goals. Just follow the simple steps and you’ll be transferring from your Coinbase account in no time!

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