Sandeep Koli
How to Withdraw Money from Coinbase: Easy Steps to Cash Out Your Crypto
Coinbase is one of the most popular cryptocurrency exchanges, allowing users to buy, sell, and store digital assets. However, many users often wonder how to withdraw money from Coinbase efficiently. Whether you want to transfer funds to your bank account, cash out crypto, or use PayPal, this guide will walk you through the process step-by-step.
Understanding Coinbase Withdrawals
Withdrawing money from Coinbase involves converting your cryptocurrency into fiat (USD, EUR, GBP, etc.) and then transferring it to your bank or payment service. Coinbase provides several withdrawal methods, including bank transfers, PayPal, and debit card withdrawals.Types of Withdrawals on Coinbase1. Bank Transfer (ACH, SEPA, Wire Transfer) - Transfers directly to your linked bank account.2. PayPal Withdrawal - Convert crypto to cash and withdraw instantly.3. Debit Card Withdrawal - Use your Visa or Mastercard to cash out.4. Instant Cash Out - Receive funds in minutes with eligible payment methods.5. Coinbase Card - Spend crypto directly or withdraw cash from ATMs.
Step-by-Step Guide to Withdraw Money from Coinbase
1. Log in to Your Coinbase AccountVisit Coinbase and enter your credentials. Ensure that your account is verified and secured with two-factor authentication (2FA).
2. Sell Your Cryptocurrency
Since Coinbase does not allow direct crypto-to-cash withdrawals, you must sell your cryptocurrency first:• Click on “Buy & Sell” in the dashboard.• Select the cryptocurrency you want to sell.• Choose “Sell for cash” and enter the amount.• Confirm the transaction.• Your funds will now be available in your Fiat Wallet on Coinbase.
3. Choose Your Withdrawal Method
Once your funds are in your fiat balance, follow these steps to withdraw:
A. Withdraw via Bank Transfer (ACH, SEPA, or Wire Transfer)
• Go to “Assets” or “Portfolio” on the Coinbase dashboard.• Click “Withdraw” next to your fiat balance.• Select Bank Account as your withdrawal method.• Enter the amount you wish to withdraw.• Confirm the transaction.• Processing Time:o ACH transfers (U.S.): 1-3 business dayso SEPA transfers (Europe): 1-2 business dayso Wire transfers: Same-day processing (may include additional fees)
B. Withdraw via PayPal (Instant Transfer)
• Link your PayPal account to Coinbase under Settings > Payment Methods.• Navigate to Portfolio and select your fiat balance.• Click “Withdraw” and choose PayPal.• Enter the withdrawal amount and confirm.• Processing Time: Instant (may incur small fees depending on region)
C. Withdraw via Debit Card (Instant Withdrawal)
• Ensure you’re Visa or Mastercard is linked to Coinbase.• Select Debit Card as your withdrawal method.• Enter the amount to withdraw and confirm.• Processing Time: Instant but may have small withdrawal fees.
D. Withdraw Using Coinbase Card
• Apply for a Coinbase Visa Debit Card if you haven’t already.• Withdraw cash directly at ATMs using your Coinbase balance.• Processing Time: Instant.
Coinbase Withdrawal Limits
Coinbase imposes withdrawal limits based on account verification levels.• Basic Users (Unverified): Limited withdrawals.• Verified Users: Higher limits; typically up to $50,000 per day.• Business Accounts: Even higher withdrawal limits.To increase your Coinbase withdrawal limit, complete ID verification in the Settings > Limits & Features section.
Coinbase Withdrawal Fees
• ACH Transfers (U.S.): Free• SEPA Transfers (Europe): €0.15• Wire Transfers: $10–$25 (depending on the bank)• Debit Card/PAYPAL Withdrawals: 1.5% (minimum $0.55 fee)• Instant Card Cash Out: Up to 2%It’s best to check the latest fees on the Coinbase Fee Structure before making a withdrawal.
Troubleshooting Coinbase Withdrawal Issues
If your withdrawal is delayed or blocked, consider these solutions:1. Ensure Your Account is verified – Coinbase requires full identity verification for fiat withdrawals.2. Check Payment Method – Some banks may block cryptocurrency-related transactions.3. Avoid Withdrawal Limits – Verify your account to increase your withdrawal limits.4. Resolve Pending Transactions – Any pending transactions can delay withdrawals.5. Use a Different Method – If one withdrawal option isn’t working, try another (e.g., PayPal instead of a bank transfer).6. Contact Coinbase Support – If you still have issues, visit Coinbase Help Center.
Final Thoughts
Cash Out money from Coinbase is a straightforward process once you understand the steps involved. By selecting the right withdrawal method—whether it's a bank transfer, PayPal, or debit card—you can efficiently cash out your crypto holdings. Always be aware of withdrawal fees and limits to ensure a smooth transaction.
2 answers
1. Log in to your Coinbase account on the website or mobile app.
2. Click on the "Portfolio" tab at the top of the page.
3. Select the cryptocurrency you want to withdraw from your Coinbase account.
4. Click on the "Send" button next to the cryptocurrency you want to withdraw.
5. Enter the amount of cryptocurrency you want to withdraw and the wallet address where you want to send it.
6. Double-check the wallet address to make sure it is correct, as transactions cannot be reversed once they are completed.
7. Click on the "Send" button to initiate the withdrawal.
8. You may be prompted to enter a two-factor authentication code or verify your identity before the withdrawal is processed.
9. Once the withdrawal is confirmed, the cryptocurrency will be sent to the wallet address you specified.
10. You can then convert the cryptocurrency to cash by selling it on a cryptocurrency exchange or using a peer-to-peer platform to find a buyer.
It's important to note that there may be fees associated with withdrawing money from Coinbase, so be sure to check the fee schedule before initiating a withdrawal. Additionally, withdrawal times can vary depending on network congestion and other factors, so be patient if your withdrawal takes longer than expected.
- Visit the Coinbase website or launch the mobile app.
- Enter your login credentials and click "Sign in."
Step 2: Choose the Withdrawal Method
- Click on "Cash Out" from the left-hand menu.
- Select the withdrawal method you prefer:
- Bank Account: Withdraw funds to your linked bank account.
- PayPal: Withdraw funds to your PayPal account.
- Cryptocurrency: Withdraw funds to another cryptocurrency wallet.
Step 3: Specify the Withdrawal Amount and Destination
- Enter the amount you want to withdraw.
- Choose the destination (bank account, PayPal, or cryptocurrency wallet address).
Step 4: Review and Confirm the Withdrawal
- Review the withdrawal details carefully.
- Select "Withdraw" and click "Confirm."
Step 5: Wait for Withdrawal Processing
- Coinbase will process your withdrawal request.
- Depending on the method, it may take a few minutes to several days for the funds to arrive.
Additional Notes:
- Withdrawal Fees: Coinbase charges different fees for each withdrawal method. Check the fees before initiating the withdrawal.
- Verification: You may need to provide additional verification documents (e.g., ID, address) before withdrawing funds, especially for large amounts.
- Minimum Withdrawal Amount: There may be a minimum withdrawal amount depending on the method.
- Bank Account Linking: If you choose to withdraw to a bank account, you must have linked your bank account to Coinbase beforehand.
- PayPal Linking: Similarly, you must have linked your PayPal account to Coinbase to withdraw funds via PayPal.
Tips:
- Plan your withdrawals in advance to avoid delays.
- Consider the withdrawal fees before deciding on the method.
- Keep a record of your withdrawals for tax purposes.
- Stay vigilant against phishing scams that attempt to steal your Coinbase credentials.
