Coinbase is one of the most popular cryptocurrency exchanges in the world. It is a great place to buy, sell, and trade cryptocurrencies. However, if you want to withdraw your money from Coinbase, you will need to follow a few simple steps.
Before You Withdraw
Before you withdraw money from Coinbase, there are a few things you need to do:
- Verify your identity. This is a security measure that Coinbase requires all users to complete. To verify your identity, you will need to provide your name, date of birth, and social security number. You may also be asked to provide additional documentation, such as a copy of your driver’s license or passport.
- Add a withdrawal method. Coinbase supports a variety of withdrawal methods, including bank accounts, PayPal, and wire transfers. To add a withdrawal method, go to the “Settings” page in your Coinbase account and click on the “Withdraw” tab.
- Make sure you have enough funds to withdraw. You will not be able to withdraw more money than you have available in your Coinbase account.
How to Withdraw Money from Coinbase (Web)
To withdraw money from Coinbase using a web browser, follow these steps:
- Go to the Coinbase website and sign in to your account.
- Click on the “My Assets” tab.
- Select the currency you want to withdraw.
- Click on the “Cash out” button.
- Enter the amount of money you want to withdraw.
- Select your withdrawal method.
- Click on the “Continue” button.
- Enter your withdrawal details and click on the “Cash out now” button.
How to Withdraw Money from Coinbase (Mobile)
To withdraw money from Coinbase using the mobile app, follow these steps:
- Open the Coinbase app and sign in to your account.
- Tap on the “Menu” button in the top left corner.
- Select “Cash out.”
- Enter the amount of money you want to withdraw.
- Choose your withdrawal destination.
- Tap on the “Preview cash out” button.
- Review your withdrawal details and tap on the “Cash out now” button.
Coinbase Withdrawal Fees
Coinbase charges a fee for withdrawals. The fee depends on the withdrawal method you choose. For example, the fee for withdrawing to a bank account is $2.50.
Processing Times
The processing time for withdrawals varies depending on the withdrawal method you choose. Withdrawals to bank accounts typically take 1-3 business days to process. Withdrawals to PayPal typically take 1-2 business days to process. Wire transfers typically take 3-5 business days to process.
How to Cash Out Your Balance From Coinbase (3 Methods)
Coinbase is one of the most popular cryptocurrency exchanges in the world, making it a convenient platform to buy, sell, and trade cryptocurrencies. However, if you want to withdraw your money from Coinbase, you’ll need to follow a few simple steps. This guide will walk you through the three main methods for withdrawing your GBP balance from Coinbase: Faster Payments Transfer, Instant Card Cashout, and GBP PayPal Cashouts and EUR Bank Transfers via SEPA.
Method 1: Faster Payments Transfer (GBP)
This method is the fastest way to cash out your GBP balance, and it typically takes 1-2 business days to process. However, there is a fee of 1.5% of the transaction amount, with a minimum fee of £1.50.
Web Browser:
- Sign in to your Coinbase account and click on “My Assets.”
- Select the “GBP” tab and click “Cash out.”
- Enter the amount you want to withdraw and click “Continue.”
- Choose your bank account and click “Continue.”
- Click “Cash out now” to complete the transaction.
Mobile App:
- Open the Coinbase app and tap on the menu icon.
- Select “Cash out” and choose “GBP” as the currency.
- Enter the amount you want to withdraw and tap “Next.”
- Choose your bank account and tap “Preview cash out.”
- Review your withdrawal details and tap “Cash out now” to complete the transaction.
Method 2: Instant Card Cashout (GBP)
This method is the fastest way to cash out your GBP balance instantly, but it comes with a higher fee of 2.5% of the transaction amount.
Web Browser:
- Sign in to your Coinbase account and click on “My Assets.”
- Select the “GBP” tab and click “Cash out.”
- Enter the amount you want to withdraw and click “Continue.”
- Choose your linked debit card and click “Continue.”
- Click “Cash out now” to complete the transaction.
Mobile App:
- Open the Coinbase app and tap on the menu icon.
- Select “Cash out” and choose “GBP” as the currency.
- Enter the amount you want to withdraw and tap “Next.”
- Choose your linked debit card and tap “Preview cash out.”
- Review your withdrawal details and tap “Cash out now” to complete the transaction.
Method 3: GBP PayPal Cashouts and EUR Bank Transfers via SEPA
This method is the most affordable way to cash out your GBP or EUR balance, but it also has the longest processing time, typically taking 1-3 business days for GBP withdrawals and 2-4 business days for EUR withdrawals.
Web Browser:
- Sign in to your Coinbase account and click on “My Assets.”
- Select the “GBP” or “EUR” tab and click “Cash out.”
- Enter the amount you want to withdraw and click “Continue.”
- Choose your PayPal account or SEPA bank account and click “Continue.”
- Click “Cash out now” to complete the transaction.
Mobile App:
- Open the Coinbase app and tap on the menu icon.
- Select “Cash out” and choose “GBP” or “EUR” as the currency.
- Enter the amount you want to withdraw and tap “Next.”
- Choose your PayPal account or SEPA bank account and tap “Preview cash out.”
- Review your withdrawal details and tap “Cash out now” to complete the transaction.
How to Withdraw Funds from Coinbase Pro
Withdrawing funds from Coinbase Pro is a straightforward process that can be completed in just a few steps. Here’s a comprehensive guide on how to withdraw funds from Coinbase Pro:
Prerequisites:
- Coinbase Pro Account: Ensure you have an active Coinbase Pro account with verified identity and Two-Factor Authentication (2FA) enabled.
- Linked Withdrawal Method: Link a suitable withdrawal method, such as a bank account or PayPal, to your Coinbase Pro account.
- Sufficient Funds: Verify that your Coinbase Pro wallet has enough funds to cover the withdrawal amount and any applicable fees.
Steps:
- Access Coinbase Pro: Go to the Coinbase Pro website (https://pro.coinbase.com/) and sign in to your account.
- Navigate to Portfolio: Click on the “Portfolio” tab located at the top of the page.
- Select Asset: Choose the cryptocurrency you want to withdraw from the list of assets displayed.
- Initiate Withdrawal: Click on the “Withdraw” button next to the selected asset.
- Specify Amount: Enter the amount of cryptocurrency you want to withdraw in the designated field.
- Choose Destination: Select your linked withdrawal method from the dropdown menu.
- Review Details: Carefully review the withdrawal details, including the amount, destination, and any applicable fees.
- Confirm Withdrawal: Click on the “Withdraw” button to confirm and initiate the withdrawal process.
- Two-Factor Authentication: Enter your 2FA code received via SMS or authenticator app to complete the withdrawal authorization.
Processing Time:
The processing time for withdrawals depends on the cryptocurrency and the chosen withdrawal method. For bank account withdrawals, it typically takes 1-3 business days. For PayPal withdrawals, it usually takes 1-2 business days.
Fees:
Coinbase Pro charges a fee for withdrawals, which varies depending on the cryptocurrency and the withdrawal method. You can check the current fee schedule on the Coinbase Pro website.
Additional Considerations:
- Cryptocurrency withdrawals are irreversible once initiated.
- Ensure you have accurately entered the recipient’s address for cryptocurrency withdrawals.
- If you encounter any issues during the withdrawal process, contact Coinbase Pro customer support for assistance.
How to Withdraw from Coinbase Wallet?
Here is a concise guide on how to withdraw from Coinbase Wallet:
Prerequisites:
- Coinbase Wallet Account: Have an active Coinbase Wallet account with verified identity.
- Linked Withdrawal Method: Link a suitable withdrawal method, such as a bank account or PayPal, to your Coinbase Wallet.
- Sufficient Funds: Ensure your Coinbase Wallet has enough funds to cover the withdrawal amount and any applicable fees.
Steps:
- Access Coinbase Wallet: Open the Coinbase Wallet app or go to the Coinbase Wallet website (https://wallet.coinbase.com/: https://wallet.coinbase.com/).
- Sign In: Sign in to your Coinbase Wallet account.
- Choose Asset: Select the cryptocurrency you want to withdraw from the list of assets.
- Tap “Send”: Tap the “Send” button next to the chosen asset.
- Enter Amount: Enter the amount of cryptocurrency you want to withdraw.
- Select Destination: Choose your linked withdrawal method from the available options.
- Review Details: Carefully review the withdrawal details, including the amount, destination, and any applicable fees.
- Tap “Send”: Tap the “Send” button to confirm and initiate the withdrawal process.
- Approve Transaction: Approve the transaction using your Coinbase Wallet security method, such as facial recognition or fingerprint verification.
Processing Time:
The processing time for withdrawals depends on the cryptocurrency and the chosen withdrawal method. For bank account withdrawals, it typically takes 1-3 business days. For PayPal withdrawals, it usually takes 1-2 business days.
Fees:
Coinbase Wallet charges a fee for withdrawals, which varies depending on the cryptocurrency and the withdrawal method. You can check the current fee schedule on the Coinbase Wallet website.
How to Withdraw from Coinbase Wallet to Bank Account?
Withdrawing from Coinbase Wallet to a bank account involves selling your cryptocurrency for fiat currency and then initiating a withdrawal to your linked bank account. Here’s a step-by-step guide:
Prerequisites:
- Active Coinbase Wallet account with verified identity
- Linked bank account to Coinbase Wallet
- Sufficient funds in your Coinbase Wallet to cover the withdrawal amount and any applicable fees
Steps:
- Open Coinbase Wallet: Access the Coinbase Wallet app or website.
- Sign In: Enter your Coinbase Wallet credentials to sign in.
- Choose Cryptocurrency: Select the cryptocurrency you want to withdraw from your Coinbase Wallet.
- Tap “Sell”: Tap the “Sell” button next to the chosen cryptocurrency.
- Select Fiat Currency: Choose the fiat currency you want to convert to, such as USD or EUR.
- Enter Sell Amount: Specify the amount of cryptocurrency you want to sell.
- Review Order: Review the sell order details, including the amount, price, and estimated proceeds.
- Tap “Sell Now”: Confirm the sell order by tapping the “Sell Now” button.
- Tap “Withdraw”: Once the cryptocurrency sale is complete, tap the “Withdraw” button next to the fiat currency you received.
- Select Bank Account: Choose your linked bank account as the withdrawal destination.
- Enter Withdrawal Amount: Enter the amount of fiat currency you want to withdraw.
- Review Withdrawal: Carefully review the withdrawal details, including the amount, destination, and any applicable fees.
- Tap “Withdraw”: Confirm the withdrawal by tapping the “Withdraw” button.
Processing Time:
- Selling cryptocurrency typically takes a few minutes.
- Bank account withdrawals usually take 1-3 business days.
Fees:
- Coinbase Wallet charges a fee for selling cryptocurrency, which varies depending on the cryptocurrency.
- Coinbase Wallet also charges a fee for withdrawing fiat currency to a bank account, which typically ranges from $1 to $10.
How to Transfer Money from Coinbase to Bank?
Transferring money from Coinbase to your bank account involves selling your cryptocurrency for fiat currency and then initiating a withdrawal to your linked bank account. Here’s a step-by-step guide:
Prerequisites:
- Active Coinbase account with verified identity: You need an active Coinbase account with verified identity to sell cryptocurrency and withdraw funds.
- Linked bank account: Ensure you have linked a bank account to your Coinbase account. This will be the destination for the fiat currency you withdraw.
- Sufficient funds: Verify that your Coinbase wallet has enough cryptocurrency funds to cover the withdrawal amount and any applicable fees.
Steps:
- Sign in to Coinbase: Go to the Coinbase website (https://www.coinbase.com/: https://www.coinbase.com/) and sign in to your account.
- Navigate to My Assets: Click on the “My Assets” tab located at the top of the page.
- Select Asset: Choose the cryptocurrency you want to sell from the list of assets displayed.
- Initiate Sell Order: Click on the “Sell” button next to the selected asset.
- Specify Sell Amount: Enter the amount of cryptocurrency you want to sell in the designated field.
- Choose Fiat Currency: Select the fiat currency you want to convert to, such as USD or EUR.
- Review Order Details: Carefully review the sell order details, including the amount, price, and estimated proceeds.
- Execute Sell Order: Click on the “Sell” button to confirm and initiate the cryptocurrency sale.
- Access Withdrawal Tab: Once the cryptocurrency sale is complete, navigate to the “Withdraw” tab located at the top of the page.
- Choose Withdrawal Method: Select “Bank Transfer” as the withdrawal method.
- Link Bank Account (if necessary): If your bank account is not already linked, you will be prompted to link it. Follow the on-screen instructions to connect your bank account.
- Specify Withdrawal Amount: Enter the amount of fiat currency you want to withdraw from your Coinbase account.
- Review Withdrawal Details: Thoroughly review the withdrawal details, including the amount, destination bank account, and any applicable fees.
- Initiate Withdrawal: Click on the “Withdraw” button to confirm and initiate the withdrawal process.
Processing Time:
- The cryptocurrency sale typically takes a few minutes to complete.
- The bank account withdrawal usually takes 1-3 business days to process. Coinbase may hold withdrawals for security purposes.
Fees:
- Coinbase charges a fee for selling cryptocurrency, which varies depending on the cryptocurrency and the payment method.
- Coinbase also charges a fee for withdrawing fiat currency to a bank account, which typically ranges from $1 to $10.
How to Withdraw from Coinbase to Bank Account?
Withdrawing from Coinbase to a bank account involves selling your cryptocurrency for fiat currency and then initiating a withdrawal to your linked bank account. Here’s a step-by-step guide:
Prerequisites:
- Active Coinbase account with verified identity: You need an active Coinbase account with verified identity to sell cryptocurrency and withdraw funds.
- Linked bank account: Ensure you have linked a bank account to your Coinbase account. This will be the destination for the fiat currency you withdraw.
- Sufficient funds: Verify that your Coinbase wallet has enough cryptocurrency funds to cover the withdrawal amount and any applicable fees.
Steps:
- Sign in to Coinbase: Go to the Coinbase website (https://accounts.coinbase.com/signin) and sign in to your account.
- Navigate to “My Assets”: Click on the “My Assets” tab located at the top of the page.
- Select Cryptocurrency: Choose the cryptocurrency you want to sell from the list of assets displayed.
- Initiate Sell Order: Click on the “Sell” button next to the selected cryptocurrency.
- Specify Sell Amount: Enter the amount of cryptocurrency you want to sell.
- Choose Fiat Currency: Select the fiat currency you want to convert to, such as USD or EUR.
- Review Sell Order: Carefully review the sell order details, including the amount, price, and estimated proceeds.
- Execute Sell Order: Click on the “Sell” button to confirm and initiate the cryptocurrency sale.
- Access “Withdraw” Tab: Once the cryptocurrency sale is complete, navigate to the “Withdraw” tab located at the top of the page.
- Choose Withdrawal Method: Select “Bank Account” as the withdrawal method.
- Select Linked Bank Account: Choose the linked bank account to which you want to withdraw the funds.
- Specify Withdrawal Amount: Enter the amount of fiat currency you want to withdraw from your Coinbase account.
- Review Withdrawal Details: Thoroughly review the withdrawal details, including the amount, destination bank account, and any applicable fees.
- Initiate Withdrawal: Click on the “Withdraw” button to confirm and initiate the withdrawal process.
Processing Time:
- Cryptocurrency sales typically take a few minutes to complete.
- Bank account withdrawals usually take 1-3 business days to process. Coinbase may hold withdrawals for security purposes.
Fees:
- Coinbase charges a fee for selling cryptocurrency, which varies depending on the cryptocurrency and the payment method. The fee is typically around 1.49% of the transaction value.
- Coinbase also charges a fee for withdrawing fiat currency to a bank account, which typically ranges from $1 to $10.
How Much Does Coinbase Charge to Cash Out?
The fees for cashing out from Coinbase vary depending on the withdrawal method you choose. Here is a breakdown of the fees:
| Withdrawal Method | Fee |
|---|---|
| Bank transfer | $1-$10 |
| PayPal | $0.50 |
| Instant Card Cashout | 2.5% of the transaction amount, with a minimum fee of $1.99 |
In addition to withdrawal fees, you may also be charged network fees for withdrawing cryptocurrency. Network fees are determined by the cryptocurrency network and are typically higher when more transactions are being processed.
Here are some examples of typical fees for withdrawing cryptocurrency from Coinbase:
- Bitcoin (BTC): $0.000008
- Ethereum (ETH): $0.0005
- Tether (USDT): $0.01
Please note that these are just estimates and the actual fees may vary. You can always check the latest fees on the Coinbase website.
Here are some tips for saving money on fees when cashing out from Coinbase:
- Use a bank transfer: Bank transfers are the cheapest way to cash out from Coinbase.
- Wait for network fees to go down: Network fees fluctuate throughout the day. You can check the current network fees on the Coinbase website and choose to withdraw when the fees are low.
- Use a different cryptocurrency: Some cryptocurrencies have lower network fees than others. For example, Bitcoin (BTC) has higher network fees than Ethereum (ETH) or Tether (USDT).
How Long Does it Take to Withdraw Money from Coinbase?
The time it takes to withdraw money from Coinbase depends on the withdrawal method you choose. Here is a breakdown of the processing times for different withdrawal methods:
| Withdrawal Method | Processing Time |
|---|---|
| Bank transfer | 1-3 business days |
| PayPal | 1-2 business days |
| Instant Card Cashout | Within 30 minutes, but can take up to 24 hours |
Once the withdrawal has been processed, it will typically take an additional 1-5 business days for the funds to appear in your bank account or PayPal account. This is because the funds need to be transferred from Coinbase to your bank or PayPal, and the transfer time can vary depending on the financial institution.
Here are some additional factors that can affect the processing time for withdrawals:
- The size of the withdrawal: Larger withdrawals may take longer to process than smaller withdrawals.
- Your verification level: Coinbase customers with higher verification levels may have faster withdrawal processing times.
- Network congestion: If the Bitcoin or Ethereum network is congested, withdrawals may take longer to process.
How Do I Withdraw Funds?
Here are the steps on how to withdraw funds from Coinbase:
- Sign in to your Coinbase account.
- Navigate to the “My Assets” tab.
- Select the cryptocurrency you want to withdraw.
- Click on the “Withdraw” button.
- Enter the amount you want to withdraw.
- Select your withdrawal method.
- Review the withdrawal details and click “Withdraw” to confirm.
Here are the withdrawal methods available on Coinbase:
- Bank transfer: This is the most common way to withdraw funds from Coinbase. It is also the cheapest option, with fees ranging from $1 to $10.
- PayPal: This is a convenient option for those who have a PayPal account. Withdrawals to PayPal are subject to a fee of $0.50.
- Instant Card Cashout: This is the fastest way to withdraw funds from Coinbase. However, it is also the most expensive option, with fees ranging from 2.5% of the transaction amount, with a minimum fee of $1.99.
Here are some things to keep in mind when withdrawing funds from Coinbase:
- Your account must be verified: Coinbase requires all users to verify their identity before they can withdraw funds. This can be done by uploading a copy of your government-issued ID.
- You must link a withdrawal method: You must link a withdrawal method, such as a bank account or debit card, to your Coinbase account before you can withdraw funds.
- Withdrawal limits: Coinbase has withdrawal limits for all users. You can view your withdrawal limits on the Coinbase website.
- Processing times: Processing times for withdrawals vary depending on the withdrawal method. Bank transfers typically take 1-3 business days, PayPal withdrawals typically take 1-2 business days, and Instant Card Cashouts typically take 30 minutes, but can take up to 24 hours.
If you have any problems withdrawing funds from Coinbase, you can contact Coinbase customer support.
Important Notes
- You cannot withdraw cryptocurrencies directly from Coinbase. You must first sell your cryptocurrencies for fiat currency before you can withdraw them.
- You cannot withdraw to an external wallet that does not support the cryptocurrency you are withdrawing.
- If you withdraw to an incorrect address, your funds will be lost.
Conclusion
Withdrawing money from Coinbase is a simple process. Just follow the steps above and you will be able to withdraw your money in no time.
FAQs About How to Withdraw Money from Coinbase
What Are Instant Cashouts?
Instant Cashouts is a feature on Coinbase that allows you to withdraw funds from your Coinbase account to your linked debit card instantly. This is a convenient option for users who need access to their funds quickly. However, there are a few things to keep in mind before using Instant Cashouts:
- Instant Cashouts is only available for USD withdrawals.
- Instant Cashouts is subject to a fee of 2.5% of the transaction amount, with a minimum fee of $1.99.
- Instant Cashouts may not be available to all users.
Why Can’t I Withdraw from Coinbase?
There are a few reasons why you might not be able to withdraw from Coinbase. Here are some of the most common reasons:
- Your account is not verified: Coinbase requires all users to verify their identity before they can withdraw funds. You can verify your identity by uploading a copy of your government-issued ID.
- You have not linked a withdrawal method: You must link a withdrawal method, such as a bank account or debit card, to your Coinbase account before you can withdraw funds.
- Your withdrawal limit has been reached: Coinbase has withdrawal limits for all users. You can view your withdrawal limits on the Coinbase website.
- Your withdrawal is under review: Coinbase may review your withdrawal if it is for a large amount or if you have not withdrawn funds from your account recently.
Can I View My Deposit and Withdraw History?
Yes, you can view your deposit and withdrawal history on the Coinbase website. To view your deposit and withdrawal history, follow these steps:
- Go to the Coinbase website and sign in to your account.
- Click on the “History” tab.
- Select “Deposits” or “Withdrawals” from the dropdown menu.
Your deposit and withdrawal history will be displayed on the page. You can filter your history by date, asset, or withdrawal method.
Does Coinbase Have Withdrawal Limits?
Yes, Coinbase has withdrawal limits for all users. The withdrawal limits vary depending on your account verification level and withdrawal method. You can view your withdrawal limits on the Coinbase website.
Can I withdraw money from Coinbase to my bank account?
Yes, you can withdraw money from Coinbase to your bank account. The fee for withdrawing to a bank account is $2.50. The processing time for withdrawals to bank accounts typically takes 1-3 business days.
Can I withdraw money from Coinbase to PayPal?
Yes, you can withdraw money from Coinbase to PayPal. The fee for withdrawing to PayPal is $0.50. The processing time for withdrawals to PayPal typically takes 1-2 business days.
Can I withdraw money from Coinbase to a wire transfer?
Yes, you can withdraw money from Coinbase to a wire transfer. The fee for withdrawing to a wire transfer is $10. The processing time for wire transfers typically takes 3-5 business days.
What are the minimum and maximum withdrawal amounts?
The minimum withdrawal amount is $10 for all withdrawal methods. The maximum withdrawal amount varies depending on your verification level and withdrawal method.
Can I withdraw my cryptocurrencies directly from Coinbase?
No, you cannot withdraw cryptocurrencies directly from Coinbase. You must first sell your cryptocurrencies for fiat currency before you can withdraw them.
What is the difference between a fiat withdrawal and a cryptocurrency withdrawal?
A fiat withdrawal is a withdrawal of fiat currency, such as USD or EUR. A cryptocurrency withdrawal is a withdrawal of cryptocurrency, such as Bitcoin or Ethereum.
Can I withdraw to an external wallet?
Yes, you can withdraw to an external wallet. However, you must make sure that the external wallet supports the cryptocurrency you are withdrawing.
What happens if I withdraw to an incorrect address?
If you withdraw to an incorrect address, your funds will be lost. Coinbase is not responsible for lost funds due to incorrect withdrawal addresses.
How can I contact Coinbase customer support?
You can contact Coinbase customer support by visiting the Coinbase Help Center.
