How To Withdraw Money from Coinbase?

Coinbase is a well know platform that is widely used for managing, buying, and selling cryptocurrencies. Coinbase support a wide range of currencies such as Ethereum, Litecoin, Cardano, Dogecoin etc. Coinbase has highest trade volumes of all exchange which makes it the largest crypto exchanges in the US. However, like any other trading platform, the withdrawal procedure on the Coinbase is very confusing and users always look for an answer on how to withdraw money from Coinbase. If you are also wondering how to cash out on Coinbase, please continue reading this blog to learn more.

 

What are the Coinbase Withdrawal Rules and Limits?

To use Coinbase to buy, sell and transfer cryptocurrency you need to create an account. Also know there are certain withdrawal rules and limits for your Coinbase account. Here is what you need to know:

·        First, to withdraw money from Coinbase account you must have verified account. You verify identity add an approved payment method and complete the necessary security measures.

·        Coinbase also sets the withdrawals limits based on whether your account is verified or not. Coinbase Exchange account holders have a default withdrawal limit of $100,000 per day.You can check the withdrawal limits in the setting tab, in your Coinbase account.

·        When you withdraw money from Coinbase you may have to pay fees. Especially when you convert cryptocurrency into fiat currency.This Coinbase withdrawal service incurs a fee, typically starting at 1.5% of the transaction amount

 

How to Transfer Money from Coinbase to Bank Account?

To withdraw funds from your Coinbase you need to first transfer it to your bank. Here is how to transfer money from Coinbase to bank account:

·        Start by logging into your Coinbase app or website

·        In the Menu select the Asset Tab

·        Here select whether it is cryptocurrency or fiat money. You will need to convert cryptocurrency into your local currency before you can withdraw it.

·        Select the cryptocurrency and click the "Sell option" to convert it.

·        After you have verified that the funds in your account are in the fiat currency of your choice, click the "Withdrawal" or "Cash out" button.

·        Enter the amount to withdraw.

·        At last, recheck all the details before you confirm the transfer.

 

How to Withdraw Money from Coinbase Wallet?

Coinbase allows its users to store more than 120 different types of cryptocurrencies. And the good part is that withdrawal process on Coinbase is also simple. Here are the steps to withdraw money from Coinbase wallet:

·        Open the Coinbase Wallet

·        To view your cryptocurrency holdings, go to the "Assets Tab" within the app.

·        Here select the Crypto you want to withdraw.

·        To transfer money from Coinbase Wallet into your main Coinbase Account, select the "Send option" and enter your Coinbase account's address.

·        If required then convert the cryptocurrency into a fiat currency.

·        At last, double-check the details of the transaction before you confirm.

 

How do I Transfer Funds from Coinbase Pro to Coinbase Advance Trade?

Coinbase pro is the platform for avid and experienced traders. At some point you want to want to move funds between platforms after the introduction of Coinbase Advanced Trade. Here are the steps to transfer funds from Coinbase Pro:

·        Start by logging in to your Coinbase Pro Account.

·        You can access the Portfolio section by clicking on the "Portfolio".

·        To initiate the transfer, click on the "Withdrawal" button.

·        Then log into your main Coinbase Account, go to the Assets section, and follow the steps to transfer to Advanced Trade.

·        Before finalizing the transfer, confirm that all details are correct.

 

FAQ

How long does it take to withdraw money from Coinbase?

The time it takes to withdraw money from Coinbase depends the metho you are using. Generally, the withdrawals are completed within 24 hours.

 

Are there fees for withdrawing money from Coinbase?

Yes, Coinbase does charge fee for withdrawing money from Coinbase.

 

Can I withdraw cryptocurrency directly from Coinbase to my bank account?

No, first you need to convert your cryptocurrency into a fiat money (like USD or EUR), before withdrawing the funds to your bank.

What is the difference between Coinbase and Coinbase Wallet?

Coinbase is an exchange that allows you to buy, sell and trade cryptocurrencies. Coinbase Wallet is a separate application that lets you manage your crypto assets and store your private keys independently from the Coinbase exchange.

 

Can I transfer funds from Coinbase Wallet to my bank account?

You must convert the cryptocurrency into fiat currency before you can withdraw money from your Coinbase Wallet.

 

How do I transfer funds from Coinbase Pro to my bank account?

Transfer the funds first from Coinbase Pro into your main Coinbase Account. Follow the standard procedure to withdraw money from Coinbase into your bank account.