Withdraw Money From Coinbase To Bank

How to Withdraw Money From Coinbase

Posted by Frank Gogol

Coinbase is one of the most used platforms in the world when it comes to crypto exchanges. It grew a lot over the years, and as a result, millions of people in the U.S. – and not only – are using Coinbase. If you just got started with the app, perhaps you are having trouble withdrawing your money and want to make sure you do it right. Well, below you will learn how to withdraw money from Coinbase.

Withdrawing from Coinbase: Overview

Coinbase is very popular, and it serves millions of people all over the world. It offers multiple services, such as trading, selling, buying, storing, and stacking crypto. Besides, you can have access to the services whether you are an institutional or a retail investor.

Since the interface for the web and mobile platforms and the brokerage and trading platform is so intuitive, people can perform easy asset withdrawals. But withdrawing money from Coinbase may differ based on whether you are withdrawing crypto or fiat. So, you need to know the right steps depending on what you are withdrawing.

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How to Withdraw Funds from Coinbase

In order to withdraw funds from Coinbase, you will have to go through the following steps:

Crypto to Fiat Conversion

The first thing you have to do is to convert your crypto to fiat. In order to do this, you must have some crypto funds already, which you would like to withdraw in fiat currencies like EUR, USD, or others. Start by logging into your account and then clicking the Trade button on the navigation bar on the left side of your screen. You can also do it by going to the top right of your screen and clicking on "Buy/Sell".

Then, you will get a dialogue box where you will have to mention the crypto amount that you want to trade for fiat. Then, you will go to the "Sell" tab at the top of the screen, after which you can fill in how much of your crypto you want to convert. Pick the crypto asset whose balance you want to convert. Then, choose the fiat currency you wish to withdraw in.

Click on "Preview Sell" after performing these steps and confirm the transaction details. You will then get a window with the confirmation on your screen, which will not only show you how much your fiat wallet will receive but also how much you are charged in fees.

Withdraw Your Fiat Balance

Now you have to go to the Portfolio page and then scroll down until you find the "Your assets" part. Then, find the fiat balance you converted and select it. Then, you can go to the asset page and click on the "Withdraw" tab. Fill in the withdrawal amount and click on "Withdraw all". In order to continue, click on the "Withdraw" button.

The next step is to pick the payment option that you want, which could be either SEPA, bank transfers, PayPal, wire transfer, or credit/debit card. Be wary that this will only work this way if you have connected a payment method already.

After you choose the payment method desired, you just click on "Continue".

The transaction details will appear there for confirmation, and you have the option to go back and change the amount to withdraw and the payment method as well. But if everything is okay, all you have to do is click on "Withdraw now". This way, the transaction will be confirmed. A fee may be charged during the conversion.

How to Add a Payment Method to Coinbase

Adding a payment method to Coinbase is pretty easy. You just have to go to your Settings page and your profile picture on the top right of the screen. From there, click on the Settings link you can find in the dropdown menu.

Next, go to the Payment Methods tab on the Settings page. Select the Link a New Account button afterward. You can find it on the right side of the screen. A dialogue box will pop up on your screen after that, showing you which payment methods are available. This may be different based on your jurisdiction. Pick the method that you think is the best fit for you and then follow the dialogue instructions given. Just bear in mind that to verify your account, Coinbase may charge you a small fee. Later on, you will find this amount deposited into your account and will be able to withdraw it.

The new account will be included in the payment method list and you can use it to withdraw funds in the future.

How to Withdraw Crypto from Coinbase

Withdrawing crypto from Coinbase is a process that can be done in a few small steps, and it is very easy to do as well. Your funds will reach your account in a matter of minutes or days, based on the asset and network. Here is how you do it:

Find the "Send/Receive" Button

On your Coinbase account, look for the "Send/Receive" button. It is on the top right of every page. With the "Buy/Sell" button right next to it, you can trade your asset to the asset you wish to withdraw. In order to convert the currency to crypto, you need to use this button. Afterward, you can click on "Send/Receive" for withdrawal.

Set the Withdrawal Amount

A dialogue box will appear on your screen, which allows you to select the amount and asset you intend to withdraw. First, you should look for the "Send" tab, under which you can add the amount you want to withdraw. You can also withdraw all your funds using the "Send All" feature.

Next, you will find the address field under the amount, where you can add an email address or a crypto address. You can use the email address of the recipient, which is free. On the other hand, using a crypto address will come with some fees.

Mention the asset you wish to withdraw and then go to the field box and pick the asset that has your interest. Afterward, click on "Continue" and your transaction can be confirmed on the following screen.

How to Withdraw from Coinbase Pro

To withdraw from Coinbase Pro, you can either withdraw fiat or send the money to an external wallet.

Go to Portfolios

Find the Portfolios page in your account.

Withdraw the Assets

Click on Withdraw, after which you will get a dialogue box to select which asset you wish to transfer. The next screen will also give you two destination options: Coinbase.com and Crypto Address. Choose the Coinbase.com option to transfer the funds. Then, enter the amount you want to send and click on Withdraw.

Meanwhile, here is how you can perform the withdrawal with cryptos.

Find the Withdraw Button

Go to the Trade page and find the Withdraw button. Click on it, as this will open a dialogue box.

Pick the Crypto Asset

Now, it is time to select the asset you want to withdraw.

Pick a Crypto Option

Then, you will have to choose whether you want to withdraw to Coinbase.com or a crypto address.

Add the Withdrawal Details

Offer the withdrawal amount and the crypto address of the recipient in the fields. Then, click "Withdraw".

Conclusion

Knowing how to withdraw money from Coinbase will ease your process and you'll be able to get your funds as soon as possible. Use this guide so that you can withdraw from Coinbase in no time.

Stilt, Inc strives to keep this blog information accurate and up to date. All information is presented without warranty. Discrepancies may be found. This blog does not consist of legal advice.

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