Are you a new trader who started trading but don’t know how to withdraw money from Coinbase? Then this article is for you. Here, we’ve given a complete guide and all the necessary information regarding money withdrawal from Coinbase.
What is Coinbase?
Coinbase is an American cryptocurrency platform to buy, sell, transfer, and store your cryptocurrencies. As one of the best cryptocurrency platforms globally, it’s familiar to almost all experienced cryptocurrency traders.
There are other platforms available such as eToro. Know about eToro vs. Coinbase here.
How to Withdraw Money from Coinbase?
The withdrawing process is straightforward, and their interface is so intuitive. One can easily get all the functions if s/he is familiar with the terms by other platforms. But when you are entirely new in this sector, you may have faced trouble with these terms.
Anyways, to withdraw money from Coinbase, you have to follow two steps which are as follows:
Crypto to Fiat money conversion:
To withdraw your money from Coinbase, you first need to convert your crypto to fiat. You must have some crypto already from which you want to withdraw money.
Fiat currency includes USD, EUR, etc., whose value is exactly the same as the government’s currencies like US dollars.
For this conversion,
- Log in to your Coinbase account.
- Click the Trade button from the navigation bar (on the left side of your screen).
- Or, click on the “Buy/Sell” from the top right side of your screen (you’ll get a dialogue box to give the crypto amount you want to trade to fiat money)
- Click on the “Sell” tab and mention the amount to convert to fiat money (you’ll get the option of which fiat money you want to convert and where you wish to withdraw your money.)
- Confirm your transaction details by clicking on the “Preview Sell.”
- Verify your transaction for the last time (This window will show your receivable fiat amount along with all transaction charges)
Withdraw from the Fiat money:
- Go to the Portfolio page of your Coinbase account.
- Find the option named “Your Assets.”
- Click on this option and select the previously transferred fiat wallet.
- Click on the withdraw button.
- Fill in the withdrawal amount.
- Click on the “Withdraw all” option. (You will get another confirmation tab)
- Click on the Withdraw button to continue.
- Pick the payment method like a bank, SEPA, wire transfer, PayPal, and Credit or Debit card. (Choose already connected which payment method is with your Coinbase account)
- Select the “Continue” option. (a confirmation window will come with all the details)
- Check all the details and click “Withdraw Now.”
There you go!
How to Add a Payment Method to Coinbase?
You may face trouble adding a payment method to your Coinbase account as a new user. However, adding a payment method to a Coinbase account is pretty easy. Follow the below instructions to do this:
- Go to the “Setting” option on your Coinbase account (you’ll get a dropdown menu)
- Click on the “Payment method” tab.
- Find “Link a New Account” option and click on it (a dialogue box will pop up on your screen, showing payment methods available right now in Coinbase.)
- Pick the payment method you want to add to your Coinbase from the options. (You’ll get another dialogue box providing all the information and instruction to add that payment method)
- Perform everything according to the instructions given (notably, Coinbase may charge something.)
- Activate the payment method and verify the payment method.
Finally, the payment method will be included in your payment method list, and you can withdraw money from your Coinbase easily.
Coinbase is a very popular platform that has served cryptocurrency exchange services for a long time to millions of people worldwide due to many advantages like technical support, informative resources, stability, security, prompt transactions, a license, and many others.
Again, it’s easy to withdraw money from Coinbase. So will you take your trading to a new level with Coinbase?