If you’re wondering how to cash out on Coinbase, you’re not alone. Coinbase is one of the most popular cryptocurrency exchanges, and knowing how to withdraw your crypto or money is essential.
In this beginner’s guide, we’ll walk you through the process of how to withdraw from Coinbase with our step-by-step guides. Whether you want to transfer crypto to a wallet or you want to cash out to a bank account or Payal, we’ve got you covered.
So, let’s dive into this Coinbase beginner’s guide to help you understand the Coinbase withdrawal process.
How to Withdraw from Coinbase & Cash Out
In this beginner’s guide on how to withdraw from Coinbase, we will show you the process you need to follow from start to finish. We will also provide you with three options for withdrawing from Coinbase to give you all the options available to you.
When withdrawing from Coinbase, you can either cash out on Coinbase and withdraw money to a bank or PayPal account. Or, if you would prefer to hold your crypto assets and not keep them on the Coinbase exchange, you can withdraw your crypto to the safety of a wallet.
- Sell or Convert Crypto to Fiat (GBP, EUR, USD)
- Add a Payment Method to Coinbase Account
- Withdraw from Coinbase
- Withdraw from Coinbase to Bank Account
- Withdraw from Coinbase to PayPal Account
- Withdraw Crypto from Coinbase
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.
Coinbase is built up of 4 individual products & platforms, plus they have their own USD Coin. These are; Coinbase.com, Coinbase Advance, Coinbase Earn, and the Coinbase Wallet.
Coinbase is a beginner-friendly crypto exchange for trading and investing in cryptocurrency. The platform allows its users to buy, sell, and exchange over 200 different cryptocurrencies, including popular options like Bitcoin and Ethereum.
Coinbase has something for everyone and has lots of exciting features to help you get the most out of your crypto experience. From Coinbase Earn to Learning Rewards, Coinbase Wallet, and Advanced Trade, there are plenty of tools at your disposal.
So why not dive in and discover all that Coinbase has to offer?
- Beginner-Friendly Crypto Exchange
- Supports Multiple Cryptocurrencies
- Learn & Earn Free Crypto
- Offers Fiat On & Off Ramps
- High Transaction Fees
- Poor Customer Support
- Network Outages During Busy Periods
How to Sell Crypto on Coinbase
If you have a Coinbase account and currently hold Bitcoin or other cryptocurrencies, you may wish to lock in your profits and sell your crypto assets. Before you can withdraw cash from Coinbase to a bank or PayPal account, the first thing you need to do is sell your crypto for Fiat.
Below we will explain how to sell crypto for your local Fiat currency.
- Choose Buy & Sell
– When you have logged into your Coinbase account, from the Home Screen, choose the “Buy & Sell” button from the top of the screen.
- Choose the Crypto & Enter the Amount
– Click on the “Sell Tab” and choose which cryptocurrency you want to Sell from the dropdown (Bitcoin will be automatically selected). Then enter the amount of the crypto you want to sell, or click “Sell all”.
- Choose the Wallet
– Choose the wallet you would like your funds to be added to.
- Preview & Select Sell Now
– Preview your sell order, where you will then see any associated fees. Then choose “Sell now” if you are happy to confirm the sell order.
- Congratulations! You have Sold your Crypto for Fiat
– The funds will appear in your chosen wallet after completing the order.
Alternatively, to save on Coinbase Fees, you can use Coinbase Advanced Trade and simply trade your crypto for your chosen FIAT.
How to Add a Payment Method to Coinbase
Before we can go ahead and withdraw from Coinbase, we will need to add a Payment Method. The process of adding a payment method is pretty simple, and you can also add more than one account. The payment method you can add to your Coinbase account will depend on your location, but normally you add the likes of a PayPal and Bank Account or a Credit/Debit card.
To add a Payment Method to Coinbase, follow our below step-by-step guide using Coinbase on a desktop;
- From Home Page, Select Profile Icon
– Log into your Coinbase and go to your profile photo in the top-right of the screen - Go to Settings from the Profile Menu
– Once you are in the profile menu dropdown, navigate to the “Settings” tab
- Go to the Payment Methods Tab
– Under Settings and from the top line of options, select “Payment Methods.” - Choose Add a Payment Method
– Once we go to the Payment Methods tab, you will have a blue button option named “Add a Payment”. If you have already added a payment method, you will see these on this screen.
- Select Continue After Reading Coinbase Avoid Scams & Fraud Warning
– Coinbase will provide you with some helpful advice to help you avoid scams and potential fraud. It’s important you understand the risk. If you’re happy, go ahead and select “Continue.”
- Add Payment Method to Coinbase
– You will be provided with a list of Payment Method options available to you for your region. In this example, we will add an Easy Bank Transfer, which Coinbase recommends. However, as you saw on the serious screen, we have previously added PayPal and a Credit/Debit Card.
- Enter Your Payment Method Details & Verify
– Depending on the option you choose, you will need to enter your personal details and also verify the account, and you may be charged a small fee. Once Coinbase verifies your payment method, your new account will be included in the Coinbase payment options list, and you can then use it to withdraw.
How to Cash Out on Coinbase & Withdraw to a Bank
Now you have sold your crypto for a FIAT currency like GBP, USD or EURO; you can then cash out of Coinbase and withdraw to a bank or PayPal account. In this example, we will withdraw GBP back to our bank account. However, the steps outlined in this step-by-step guide will be the same process for withdrawing USD or EURO bank accounts.
If you don’t see any payment methods available to withdraw to, you will first need to go to our guide on how to Add a Payment Method to Coinbase before continuing.
In our below step-by-step guide, we will explain how you can withdraw and cash out on Coinbase back to a bank or PayPal account. The Coinbase withdrawal method will be down to what is supported in your region.<br>
Total Time: 10 minutes
Log into Coinbase.com & Select “My Assets”
– Log into your Coinbase Account.
– Select “My Assets” from the left-hand side.
Choose the Fiat to Withdraw
– From the list of assets, select the Fiat currency that you would like to withdraw from Coinbase back to your bank account.
Select the Cash Out Option & Enter the Amount to Withdraw
– On the right-hand side of the screen, select the “Cash out” tab.
– Enter the amount you want to cash out from Coinbase or select “Cash out all”. When you’re happy, choose “Continue“.
Select a Destination to Withdraw
– Depending on your linked accounts, you may have multiple options here to withdraw to.
– If you don’t have any option here, you can either “Add a Debit Card or “Add a Bank Account.”
Preview Cash Out & Confirm
– You will see a summary of your withdrawal from Coinbase to your chosen account.
– If you are happy with proceeding with the withdrawal, select “Cash Out Now.“
How to Withdraw from Coinbase to Paypal
Another way you can withdraw from Coinbase is through your PayPal account. Unfortunately, this option won’t be available to everyone, and it will depend on your region. If you have already cashed out from Coinbase to a bank account, the PayPal withdrawal process is very similar.
However, if you are new, we will show you a step-by-step guide on withdrawing from Coinbase to PayPal.
- From Coinbase Home Page, Select the Profile Icon
– Log into your Coinbase.com account and go to your profile photo in the top-right of the screen - Go to Settings from the Profile Menu
– Once you are in the profile menu dropdown, navigate to the “Settings” tab
- Go to the Payment Methods Tab
– Under Settings and from the top line of options, select “Payment Methods.” - Select Add a Payment Method
– Once we go to the Payment Methods tab, you will have a blue button option named “Add a Payment”. If you have already added a payment method, you will see these on this screen.
- Add PayPal Payment Method
– From the list of Payment Method options available, select PayPal.
- Log into PayPal & Connect to Coinbase
– Log into your PayPal account to link both Coinbase and PayPal.
- Go Back to Coinbase & Select “My Assets”
– Once you have connected PayPal to Coinbase, return to Coinbase and Select “My Assets” from the left-hand side.
- Select the Fiat Currency to Withdraw to PayPal
– From the list of assets, select the Fiat currency that you would like to withdraw from Coinbase to your PayPal account.
- Select the Cash Out Tab & Enter the Amount to Withdraw
– On the right-hand side of the screen, select the “Cash out” tab.
– Enter the amount you want to cash out from Coinbase or select “Cash out all”. When you’re happy, choose “Continue“.
- Choose PayPal as the Withdrawal
– As we have already added PayPal as a payment method, you will see this option from the destinations available to withdraw to.
- Preview Cash Out & Confirm Withdrawal from Coinbase to PayPal
– You will see a summary of your withdrawal from Coinbase to your PayPal account
– If you are happy with withdrawing, select “Cash Out Now.“
How to Withdraw Crypto from Coinbase
If you’re holding your crypto for the long term and want more control, with access to your private keys, you’ll need to withdraw your crypto from Coinbase to a secure wallet such as a Ledger, Trust or Coinbase Wallet.
Withdrawing cryptocurrency from Coinbase is relatively straightforward and can be completed by following the step-by-step guide below;
- Select “Send & Receive”
– When you have logged into your Coinbase account, from the home screen, choose “Send/Receive” from the top of the screen.
- Enter the Amount & Paste the Withdrawal Address
– Ensure you are on the “Send” tab and enter the amount.
– You will then need to copy the address to which you want to send your crypto. This will be your wallet or platform’s receive address or deposit address. Then paste the address into the “To” field.
- Enter a Note, Continue & Confirm
– Enter a note. This might be the name of the wallet or platform that will help you to track this transaction in the future. When you are happy, click “Continue“.
- Select “Send Now” to Send Crypto from Coinbase – You will then be presented with a confirmation screen showing you the withdrawal and any related transaction fees which the miners charge. To confirm the transaction, choose “Send now”. After you finalize the transaction, the crypto will arrive at its destination within a few minutes to a few days (depending on the asset and network you have chosen).
Why Can’t I Withdraw from Coinbase?
If you’re finding it challenging to withdraw or sell your funds from Coinbase, there might be a few reasons. It may be due to restrictions in your region. Alternatively, it could be because you are a new account holder and haven’t completed verification or have recently bought with the likes of a credit card.
For anti-fraudulent reasons, sometimes Coinbase will restrict selling or withdrawing, especially if you have purchased with a credit or debit card.
FAQs
What are Coinbase Withdrawal Fees?
When using Coinbase, the withdrawal fees will all depend on your location and withdrawal method. In the UK, withdrawing to a GBP bank account or Paypal account incurs zero withdrawal fees. However, when you send transactions on any blockchain, you must pay fees for them to be processed by the miners. The price and speed of your transaction will depend on the blockchain and how congested it is. Therefore withdrawing crypto from Coinbase will incur a network fee.
How to Delete a Coinbase Account?
If you’ve sold your Bitcoin or withdrawn your money to a bank account and no longer require your Coinbase account. Or, if you’re worried about your personal data being shared and are ready to close your Coinbase account, check out our guide on how to delete your Coinbase Account.
Related Posts
Here are some of our articles you may also find helpful;
- How to Download Coinbase Transaction History
- How to Delete a Coinbase Account
- Coinbase Earn Quiz Answers
- Coinbase Staking: How to Stake & Earn Rewards on Coinbase
- Coinbase Adds Easy Bank Transfers for UK Users
*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 the 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.”
3 Responses
Hi, I’ve been trying to verify my bank account with coin base but somehow it doesn’t work? anyone had problem like that ?
Lots of people have issues with Coinbase, try Gemini its another exchange I personally like
Hi Louise Elizabeth
Is there a fee for transferring some FIAT GBP (not crypto) to my UK bank account using Coinbase (not Coinbase Pro)?
Thanks
John