This article will help you solve the quest of how to withdraw money from coinbase to either a bank account, Paypal, or debit card in a very fast and easy manner. It is going to be a step-by-step guide that you have never seen before. So sit back and read as I take through the processes.
Before we delve into the exclusive discussion of how to withdraw money from coin base, I would like to give you a brief but salient overview of what coinbase is and what it is used for.
Coinbase is one of the world’s most popular and frequently used apps that helps users buy, sell and exchange cryptocurrencies with ease. It also helps to convert one cryptocurrency to another for trade. In the same vein, Coinbase is used to send and receive over 50 cryptocurrencies including Bitcoin, Ethereum, and many others.
Interestingly, however, Coinbase allows its users the opportunity to withdraw not just their crypto but to withdraw money from coinbase. So if you are having trouble withdrawing money from Coinbase or you want to embark on money withdrawal without making any mistake, then read to the end because this article will teach you how to withdraw money from Coinbase in three. ways.
Does Coinbase Allow The Withdrawal Of Money?
If you are new to Coinbase it is pertinent to know if the withdrawal of money is allowed on coinbase before moving to know how to withdraw money from coinbase. So the answer to that question is a big YES, Coinbase like we have said is used by millions of people all over the world for trading stock.
And as expected, the need for money will arise. So, Coinbase has a feature that allows users to not only withdraw crypto but also withdraw money from their coinbase account.
Furthermore, Coinbase gives the option of withdrawing the money to either your bank account, PayPal, or debit card. So before we go further, carefully follow the guide on how to withdraw money from the coinbase below.
How To Withdraw Money From Coinbase
The first method of how to withdraw money from Coinbase that I would like to discuss here involves two major steps. Firstly is to Convert the Crypto to Fiat. Then secondly, withdraw the fiat balance to your bank account, debit card, or PayPal depending on the one you choose to go with. So let’s discuss the details of each step here
How To Withdraw Money From Coinbase By Converting Crypto To Fiat
This is the first step in how to withdraw money from Coinbase. For clarity, fiat is a legal tender that is issued by the government but not pegged to the price of any commodity like gold or silver. It is this fiat that you will first convert your crypto to. The process looks a little complex but it is very easy if carefully followed.
To convert your crypto to fiat, log into your Coinbase account and click on either the buy and sell button on the right side of your screen or the trade button on the navigation bar on the left side of your screen.
This will take you to another page where you will enter the amount of crypto that you want to convert to fiat. Do the same on the sell tab on the top of the same page, select the crypto you want to convert and the currency you wish to convert to like USD, Euro, etc. Preview your sell and click on confirm.
How To Withdraw Money From Coinbase By Withdrawing Your Fiat Balance.
This is the second major step on how to withdraw money from Coinbase. So after converting to fiat, you will withdraw the fiat to any account that you want to receive your money with. Withdraw your fiat balance like this;
Got to the portfolio page on your App, navigate down till you see the “your asset” icon. Locate and click on the fiat that you have converted. Go to the asset and tap on withdrawing, fill in the amount you wish to withdraw or that which you have converted, and tap on “withdraw all”. Click on the withdraw button to continue, choose a payment method from the list of linked accounts. Confirm the transaction and click on withdraw.
This method of how withdrawing money on Coinbase works for anyone who wants to withdraw to any account such as Paypal, bank account, and debit cards.
Not all debit cards are accepted but you wouldn’t know if you are accepted till you give it a try So to know if your debit card will be accepted, attempt to add it to your Coinbase account. We will describe how to add a payment method later in the course of this article.
How To Withdraw Money From Coinbase Through SEPA Transfer
This is another very easy withdrawal method for European Coinbase users. Here is how to withdraw money from Coinbase through SEPA transfer.
- On the homepage of your Coinbase account, select portfolio at the top right corner.
- Select withdraw>EUR>SEPA at the right-hand side of the page
- Click on TO and select a receiving bank from the list of linked accounts
- Enter an amount, confirm the amount and sect withdraw.
This method would not be successful if you haven’t linked an account. So continue reading to see how to link or add a payment account.
How To Withdraw Money From Coinbase Through Wire Transfer
This method of how withdrawing money from Coinbase is for US customers. But make sure that you add your wire transfer as a payment method. To withdraw money from Coinbase through wire transfer, select your USD wallet on the left side menu of the portfolio page. Click on cash out. On the TO section, select wire transfer. Enter the amount, confirm the amount and click on Cash out.
How To Link Or Add A Payment Method To Withdraw Money From Coinbase
Remember we are still learning how to withdraw money from Coinbase and I started that, linking or adding a payment method is a major prerequisite for a successful withdrawal. So this is how you can link or add your bank account, PayPal, debit card, and wire transfer to your Coinbase.
- Navigate to Settings on your Coinbase app and click on your profile picture.
- On the drop-down menu, click on the setting link.
- Now go on to tap on the settings page that reads “payment method”
- Click on “link a new account” on the right side of the screen.
- A list of payment methods will be shown. Click on any one of your choices. Follow the prompts till your account is verified.
with these, your new account has been added to your Coinbase for each money withdrawal.
What Is Coinbase Withdrawal Fees?
After knowing his to withdraw money from Coinbase, the fees attached are also important. Surprisingly, there are no specific fees for withdrawing money on Coinbase. The fees are calculated based on the time, size, method of withdrawal, and market condition. So do well to go through the fees before confirming the transaction.
What Is Coinbase Withdrawal Limit?
Lastly, on how to withdraw money from Coinbase, let me show you the withdrawal limit. Coinbase allows users with a linked banked account or payment method to withdraw up to $1000 per transaction with a minimum withdrawal of $0.0005.
Cryptocurrency trading has become a very big necessity and Coinbase is one of the reliable platforms to trade. Therefore in this article, I explored how to withdraw money from coinbase detailedly explaining 3 methods. We also picked into the coinbase withdrawal limits as well as withdrawal fees.