Coinbase is a cryptocurrency exchange founded in 2012 in the US. The exchange is very popular for users just starting out in crypto, with its very simple and easy-to-use interface.
Keep reading if you’re thinking about withdrawing from Coinbase. We’ll explore the withdrawal process in detail and explain exactly how it works.
How to Withdraw from Coinbase to a Wallet?
The process of withdrawing from Coinbase can initially seem complicated, but once you have done it, you shouldn’t have any issues. It’s important to remember not to keep your crypto stored on any exchange long-term.
Once you have finished trading, moving your crypto into the safety of a wallet is recommended. One of the safest ways to store your crypto in a hardware wallet such as a Ledger Nano S, Nano X or Trezor.
Time needed: 10 minutes.
Coinbase makes the process of sending crypto like Bitcoin or Ethereum to another wallet fairly simple. This step-by-step guide will break down the process for you to send crypto from Coinbase to an external crypto address.
- Log into Coinbase Account
– Go to Coinbase.com and log into your account.
If you’re new to Coinbase, they offer new users a £5 Bitcoin sign-up bonus when making their first trade.
- Go to Send & Receive
– Once logged in, select the “Send & Receive” button in the top right of your screen.
- Choose the Amount to Withdraw
– First, you will need to choose “Send” as per our example below. The “Receive” option here will provide me with the Bitcoin wallet address to receive crypto.
– Enter the amount you would like to send next to the “$” symbol, or choose “Send all“. To change between crypto and dollar value, click the double arrows.
- Select Asset to Withdraw
– Select the crypto asset you would like to withdraw. You will notice against each asset, the crypto and dollar value will be displayed for each token you hold.
- Enter Wallet Address
– In the “To” field, enter the Wallet Address you would like to send crypto to or the Email Address if you’re sending via email.
– Adding a note is optional.
– If you’re happy, select “Continue“.
The majority of users will enter a crypto wallet address. Please make sure you are sending the correct type of crypto to the correct type of address. For example, if you are sending Bitcoin, this needs to be sent to a Bitcoin wallet address. You risk losing your funds if you send your crypto to the wrong address.
- Withdrawal Summary
– Coinbase will provide a confirmation screen, which will summarise the cost of sending the transaction.
– Select the “Send Now” button if you’re happy with everything.
Please double-check the address before sending your crypto, as crypto withdrawals are non-reversible.
- Coinbase Security
– If you have security set up on your account (recommended), Coinbase will ask you to verify the withdrawal with 2FA. Once entered, select the “Confirm” button.
- Coinbase Withdrawal has been Submitted
– Congratulations! Your Coinbase withdrawal has now been submitted and will usually take about 30 minutes.
As mentioned, the process of withdrawing from Coinbase is pretty simple, but if you’re unsure, consider sending a small amount as a test transaction. This will cost more in-network fees, but it might give you peace of mind.
What is Coinbase?
Coinbase.com is a secure online trading platform for buying, selling, trading, and storing cryptocurrencies, such as Bitcoin. The platform is ideal for new users getting into cryptocurrency and purchasing their first Bitcoin with a credit/debit card or via bank transfer. It is simple to use, convenient and has easy onboarding.
Here are some of our articles you may also find helpful;
- How to Delete a Coinbase Account
- Coinbase Earn Quiz Answers
- How to Download Coinbase Transaction History
- How to Withdraw from Crypto.com
*After you make a crypto purchase, BTC will be added to your portfolio. Limited time offer. Offer available to new users only. Offer not available to new users who were referred to Coinbase through the Referral Program or who have previously opened an account using different contact information. Coinbase may update the conditions for eligibility at any time.
“Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk, and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales.”