How to Withdraw Money from Coinbase to Bank Account?

If you are new to cryptocurrency, chances are you’ve heard of Coinbase still. That is how popular the cryptocurrency platform is.

The early adopters of Bitcoin and Ethereum have been buying and selling on the platform since 2012. It was also the first cryptocurrency exchange to become public when it was listed on NASDAQ in 2012.

According to CoinMarketCap, the trade volume is the third-highest of all the exchanges and more than $300 million of cryptocurrency is traded each quarter on the platform. 

How to Withdraw Money from Coinbase Through Website?

If you want to use Coinbase, you will need to know how to withdraw money on the platform. Here are the easy steps for Withdraw Money from Coinbase using the Website:

Step 1: Convert from Cryptocurrency to Fiat Currency 

These steps assume that you have got crypto assets and want to sell them, convert to fiat currency and cash them out to your bank account.

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To begin, log in to your Coinbase account. 

Step 2: Click on ‘Buy/Sell’ – Selling Cryptocurrency

Following this, you will get a prompt. Here you have to mention the amount of fiat currency you want, and the corresponding amount of cryptocurrency will be sold.

Enter the value and click on ‘Preview Sell’. So, you have successfully sold your cryptocurrency and exchanged it for fiat currency at this step.

This withdrawn fiat currency will be stored as a fiat balance on your Coinbase account. 

Step 3: Withdrawing the Fiat Balance 

On your homepage, click on ‘Portfolio’ which is on the left bar. Here, under the Ýour Assets section, you will find the fiat currency request you just placed. Click on it. 

On the asset page, click on ‘withdraw’ and re-enter the fiat amount you want to withdraw or simply click on ‘Withdraw all’

Step 4: Add Payment Method 

After the previous step, you will choose one of the payment options available on Coinbase.

These will depend on how many have you linked to the account and the region you are operating the account one. Choose any one payment method. 

Step 5: Confirm Withdrawal 

Once you select the payment method, you will be shown a withdrawal preview which will contain the amount, fee, and expected time of arrival.

Also Check:  How To Cash Out Coinbase?

Take note of it. Click on ‘Withdraw Now’ if everything seems right. 

Your withdrawal request is being sent and should arrive in the account within the stipulated time. 

How to Withdraw Money from Coinbase Through Mobile App?

It is simpler than ever on the mobile app! Here are the steps to cash out from the Coinbase mobile app. 

Firstly, log in to your Coinbase account on the mobile app. 

Step 1: Tap on the ‘two arrows’ icon 

The ‘two arrows’ represent buying and selling. 

Step 2: Tap on ‘Sell’

Note that this step converts your cryptocurrency to fiat currency.

Step 3: Choose Crypto and the Amount

Choose the cryptocurrency you want to sell and the corresponding amount of it. 

The amount will be measured against cryptocurrency according to the then rates and the conversion will be processed. 

Step 4: Click on ‘Preview Sell’ and then ‘Sell’

Verify all the details of the selling, and then once you confirm it, the transaction will be processed and the fiat amount will be available on your Coinbase wallet. 

Step 5: Withdraw Funds 

You will find the converted funds on your currency wallet in the Coinbase App. Click on ‘Withdraw Funds’ to get the money to your bank account. 

Coinbase Withdrawal Limit 

There is no withdrawal limit on Coinbase on how much cryptocurrency you sell to convert to fiat currency.

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However, cash out from fiat currency to your bank account has a limit and it depends on the payment method to withdraw. 

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Coinbase Minimum Withdrawal

The minimum withdrawal will be dependent on the cryptocurrency you are selling.

The same will be shown when you enter the fiat value you want to receive by selling the cryptocurrency. 

Coinbase Withdrawal Time

Depending on the cryptocurrency network and the traffic, the withdrawal time will be between a few seconds to a few hours. 

Coinbase Withdrawal Fees

There is no single standard fee for Coinbase withdrawals.

They are calculated and shown to you at the time of conversion of crypto to fiat, and this value depends on the selected cryptocurrency, order size, and then market conditions.

However, there are no fees charged for cashing out your fiat currency from Coinbase to your bank account. 

Coinbase Withdrawal Pending

If even after 48 hours, your withdrawal is not processed and is pending, contact Coinbase Support Team

Conclusion 

Here are the simple steps with Coinbase withdrawal. Invest responsibly in cryptocurrencies as they are highly volatile. 

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