How to Withdraw (Cash Out) Money from Coinbase Wallet to Bank Account?

Areyou wondering “howto cash out from Coinbase”? If yes, then you have come to the rightplace. Coinbase is one of the premier platforms for purchasing, selling, andstoring digital currencies like bitcoin. If you wish to convert your cryptoprofits into fiat currency for emergency savings or purchasing goods andservices online then knowing how to transfer your money out from Coinbase isimportant. So, let’s begin and learn about each step to withdrawmoney from Coinbase, from linking your bank to securely withdrawingfunds.

What is the Coinbase and the Need to Cash Out?

Coinbaseis cryptocurrency exchange platform which enables users to buy, sell and holddigital assets such as Bitcoin, Ethereum, Litecoin, and other securely throughdigital wallets provided by them. In fact, Coinbase provides users with anexcelled platform to store and trade cryptocurrency.

However,users often want to convert the digital currencies they posses into fiat money(USD or EUR) for everyday purchase or investing elsewhere. This process isknown as cashing-out or withdrawing, its significance cannot be overstated ifyour plan involves spending or investing the funds elsewhere.

How to Cash Out on Coinbase: A Step-by-Step Guide

Thereare multiple steps involved when you cash out on Coinbase. There areprimarily three steps, linking a bank account to Coinbase, sell yourcryptocurrency, and withdraw the money. Here is how to do it:

1. LinkYour Bank Account to Coinbase: Linking your bank account is the first step towithdrawing funds from Coinbase. Without this step, you cannot directlytransfer Coinbase into your bank. Follow these tsps. To link a bank account:

· Sign into your Coinbase account.

· Select Payment Methods in the settings Menu

· Click “Add a Payment Method,” then “Bank Account” for moreinformation.

· Select the bank account you would like to link with Coinbase.

· Enter the required details such as your routing and accountnumber.

2. Sell Your Cryptocurrency: Once you have successfully linked your bank account,Coinbase enables you to convert cryptocurrency such as USD into a fiat currencyfor deposit into your bank account. You must complete this step as only fiatcurrencies can be accepted as deposits into the bank accounts. Follow thesesteps to sell your crypto:

· Go to the Portfolio section of your Coinbase account.

· Select the cryptocurrency that would like to sell.

· Simply select the amount to sell by clicking on the Sellbutton.

· After this select either cash (USD) as your currency ofchoice or select one of the local fiat currencies from the list.

· At last, recheck all the details before you click on the“Sell Now” button.

3. Your bank account allows for easy withdrawal of money: Now is the time totransfer your fiat currency from Coinbase into your linked bank. Follow thesesteps to initiate the withdrawal:

· Click on the Portfolio tab.

· Click on the Withdraw Button under Cash (USD).

· Opt for your linked bank account as the payment option.

· Select the amount you would like to transfer.

· Confirm the success of your withdrawal by reviewing itstransaction record.

· Coinbase allows two forms of withdrawals.

· Standard Withdrawal: This method may be free but could takebetween one to three days to process.

· Instant Withdrawal via PayPal or Debit Card: This methodoffers faster processing times with only a nominal fee attached, often withinminutes of initiating it.

· After initiating your withdrawal, the final step should bewaiting for it to appear in your account. ACH payments could take several dayswhile instantaneous withdrawals should arrive almost instantly in your account.

What to Know About Coinbase Withdrawal Fees?

Transferringyour coins from Coinbase into your bank account is free, there may beadditional charges depending on which method you select from cashing-out. Hereis what you need to know about the Coinbase withdrawal fee:

· ACH Transfers for Standard Withdrawal: As these transfers arefree, they make for the ideal way to withdraw funds.

· Wire Transfers: Wire transfers incur a Coinbase fee between $10 and$25. However, they tend to be faster than ACH transactions.

What are the Common Problems When Withdrawing Funds from Coinbase

Belowmentioned are some of the common problems when withdrawing funds from Coinbase:

· Your bank may be having difficulties processing or routingthe transaction correctly; or there could be network connectivity issues.Hence, you must always double-check all your banking details are accurate.

· There are also Coinbasewithdrawal limit apply if you are new users and have not verified youraccount. So, taking additional steps of verification on Coinbase to increaseyour limit could help.

· Moreover, the unexpected Coinbase withdrawal fees may seemexcessive. Be wary of any hidden costs and carefully consider all methodsavailable before proceeding with any withdrawal process.

FAQ

How can I get my money out of Coinbase?

Coinbaseallows you to withdraw funds by exchanging cryptocurrency for fiat currency andselling that on. After linking your bank account to Coinbase, use an ACH orwire transfer service to send those funds back directly back into it.

How do I withdraw funds from Coinbase?

Clickingthe Withdraw button allows you to transfer funds from Coinbase into your linkedbank account.

How do you withdraw money from Coinbase?

Coinbaseallows you to withdraw funds by converting cryptocurrency to fiat currency andthen transferring them via wire transfer or ACH into your linked bank account.

Can I withdraw my crypto directly from Coinbase?

No,it is not possible to withdraw crypto directly from Coinbase.