{"id":208,"date":"2022-03-22T10:57:49","date_gmt":"2022-03-22T10:57:49","guid":{"rendered":"https:\/\/compoundingstacks.com\/?p=208"},"modified":"2022-04-04T15:11:06","modified_gmt":"2022-04-04T15:11:06","slug":"how-do-i-withdraw-money-from-coinbase","status":"publish","type":"post","link":"https:\/\/compoundingstacks.com\/how-do-i-withdraw-money-from-coinbase\/","title":{"rendered":"How Do I Withdraw Money From Coinbase?"},"content":{"rendered":"\n

If you’ve spent some time trading and selling on Coinbase, then you might have netted yourself a decent profit.<\/p>\n\n\n\n

And although watching your crypto add up is exciting, sometimes the currency is more useful as cash. <\/p>\n\n\n\n

\"How<\/figure><\/div>\n\n\n\n

But as Coinbase is an online crypto trading platform, you might not be sure how to send your crypto assets to the bank.<\/p>\n\n\n\n

Coinbase is known for being user-friendly, and their withdrawal process is pretty intuitive to navigate. <\/p>\n\n\n\n

You should be able to quickly convert your purchases of crypto into cash and withdraw it straight to your connected bank. <\/p>\n\n\n\n

In this guide, we cover your withdrawal options from Coinbase, and how to gain access to your cash.<\/p>\n\n\n\n

What Is Coinbase?<\/strong><\/h2>\n\n\n\n

Coinbase is an online cryptocurrency trading platform. It’s used in over 100 countries by over 73 million users, and has become widely known as a reliable trading platform for beginners.<\/p>\n\n\n\n

One reason Coinbase has become such a popular platform is the ease with which it can be used. The user interface is clear and simple and provides access to many forms of cryptocurrency. <\/p>\n\n\n\n

Registering for an account takes just minutes. Then you can link your Coinbase account with your bank account, or debit card.<\/p>\n\n\n\n

However, while trading cryptocurrency on Coinbase is easier than ever, actually getting your money from Coinbase has proven to be a little tricky. <\/p>\n\n\n\n

Thankfully, Coinbase has worked to streamline the process, so you can gain access to your cash quickly.<\/p>\n\n\n\n

Why Do You Need To Withdraw Money From Coinbase?<\/strong><\/h2>\n\n\n\n

Cryptocurrency has made some people millionaires, but wild fluctuations in value have left others out of pocket.<\/p>\n\n\n\n

And as Coinbase allows you to trade in so many cryptocurrencies, there may be occasions when you want to get your money out before the market turns. <\/p>\n\n\n\n

Alternatively, you might simply want to switch to another crypto trading platform. Coinbase is popular because of its ease, but it does charge a higher transaction fee than other exchangers. <\/p>\n\n\n\n

Having honed your skills on Coinbase, you might want to pull your money out, and start in a place with lower fees and better market pricing.<\/p>\n\n\n\n

Just to note, if you want to move from Coinbase to Coinbase Pro, you don’t need to withdraw your money. It is possible to trade between the two.<\/p>\n\n\n\n

How To Withdraw Money From Coinbase<\/strong><\/h2>\n\n\n\n

When withdrawing your money from Coinbase, you may want it as crypto, or as fiat money. Fiat money is money that’s been declared legal tender by a government. <\/p>\n\n\n\n

Examples of fiat money include the US Dollar, British Pound, and the Euro.<\/p>\n\n\n\n

Trade Cryptocurrency For Money<\/strong><\/h3>\n\n\n\n

The first step you need to take to cash out is to convert your crypto balance into cash. <\/p>\n\n\n\n

First, head to the “buy\/sell” button on the Coinbase web browser. <\/p>\n\n\n\n

This should load a dialogue box, which has the option to “buy”, “sell”, or “convert”. Select “sell”. Coinbase will then give you the option to enter the amount you wish to convert. <\/p>\n\n\n\n

\"How<\/figure><\/div>\n\n\n\n

Select the cryptocurrency you wish to convert from (Bitcoin, for example) and the currency you wish to convert to (such as USD).<\/p>\n\n\n\n

With all your details entered, click “preview sell”. This will then load a confirmation window. Here, you can see any transaction fees, and the final amount you will receive from the sale. <\/p>\n\n\n\n

Select “sell now”, and the cash should be available in your local currency wallet.<\/p>\n\n\n\n

If you prefer to use the Coinbase app, the process is just as easy. Start by clicking the “buy\/sell” icon, and follow the same steps.<\/p>\n\n\n\n

Cash Out<\/strong><\/h3>\n\n\n\n

With your funds converted to cash and secured in your wallet, you can begin to cash out.<\/p>\n\n\n\n

Head to the “assets” section. You should find a list of all your available currency, including crypto and cash. Select the balance you’ve just converted to cash.<\/p>\n\n\n\n

Click on the “cash out” tab, and put in the amount that you just converted. Select “continue”.<\/p>\n\n\n\n

Now, you need to choose the destination for your cash. You should have your payment method already setup, whether it’s a bank transfer, PayPal, credit card, debit card, wire transfer, or SEPA. <\/p>\n\n\n\n

If you don’t have your payment method setup, then do this now.<\/p>\n\n\n\n

Select your chosen payment method, and then select “continue”. You will then be presented with the transaction details. <\/p>\n\n\n\n

If there are any mistakes, you can still go back and change them using the arrows. <\/p>\n\n\n\n

If things look good, press “withdraw now”, and continue with the transaction. Select “done”, and wait for the transaction to go through.<\/p>\n\n\n\n

For a bank transfer, expect several days delay as the payment goes through. <\/p>\n\n\n\n

Some users have found payments to a PayPal account tend to go through quicker than a bank transfer, so consider this method if you want your money fast.<\/p>\n\n\n\n

It’s also possible to cash out via the Coinbase app. Select the “buy\/sell” icon, and follow to “cash out”. <\/p>\n\n\n\n

Enter the amount you want to transfer and the destination. Tap “preview cash out”, and “cash out now”.<\/p>\n\n\n\n

Withdrawing Crypto<\/strong><\/h3>\n\n\n\n

If you want to take crypto from your Coinbase app to store in an external wallet, the process is simple. <\/p>\n\n\n\n

Login to your Coinbase account, and select the “send\/receive” button. Enter the amount you wish to send, how you intend to send it, and where you want to send it to. <\/p>\n\n\n\n

If you plan on sending the crypto to an external wallet, there will be a transaction fee.<\/p>\n\n\n\n

Having entered the address, specify which currency you wish to withdraw. Click “continue”, and confirm the transaction. <\/p>\n\n\n\n

The process is now complete, and you have withdrawn crypto from your Coinbase account.<\/p>\n\n\n\n

It can take several days for this payment to go through, so stay patient, and keep checking back. <\/p>\n\n\n\n

Final Thoughts<\/strong><\/h2>\n\n\n\n

The above methods are only a few ways you can get some cash from your Coinbase account. <\/p>\n\n\n\n

There are many other options, such as selling crypto directly to another user or buying crypto directly from another user. <\/p>\n\n\n\n

These withdrawal methods are easy to navigate, and should quickly transfer your crypto coins into fiat currencies, and put them in your bank account.<\/p>\n\n\n\n

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https:\/\/www.youtube.com\/watch?v=dWl5NPkXBGQ<\/a>