How to Withdraw From Coinbase？
Coinbase is one of the most popular platforms for buying, selling, and storing cryptocurrencies. However, some users may want to withdraw their funds from Coinbase to their bank accounts or other wallets for various reasons. They may want to cash out their profits, diversify their portfolio, or stop using cryptocurrencies altogether. Whatever the reason, withdrawing from Coinbase is possible, but it requires some steps and precautions. In this article, I will explain how to withdraw from Coinbase, and what are the fees and limits involved.
How to Withdraw Fiat Currency From Coinbase
If you have some fiat currency balance in your Coinbase account, such as USD, EUR, or GBP, you can withdraw it to your bank account or other payment methods. To do this, you need to link your bank account or payment method to your Coinbase account first. You can do this by following these steps:
- Log in to the Coinbase website or app.
- Go to the “Settings” tab and click on “Linked Accounts”.
- Click on “Link a New Account” and select the type of account you want to link.
- Follow the instructions to verify your identity and connect your account.
After linking your account, you can withdraw your fiat currency balance by following these steps:
- Go to the “Portfolio” tab and click on the fiat currency you want to withdraw.
- Click on the “Withdraw” button and enter the amount you want to withdraw.
- Select the bank account or payment method you want to withdraw to.
- Confirm the withdrawal details and click on “Withdraw Now”.
Your withdrawal request will be processed by Coinbase and sent to your bank account or payment method. The time it takes for the funds to arrive may vary depending on the method and location. You can also view your withdrawal history on the “Portfolio” tab.
How to Withdraw Cryptocurrency From Coinbase
If you have some cryptocurrency balance in your Coinbase account, such as Bitcoin, Ethereum, or Litecoin, you can withdraw it to another wallet or exchange. To do this, you need to have a valid address for the cryptocurrency you want to withdraw. You can get an address from another wallet or exchange that supports the same cryptocurrency. You can also generate a new address from your own wallet software or hardware.
After getting an address, you can withdraw your cryptocurrency balance by following these steps:
- Go to the “Portfolio” tab and click on the cryptocurrency you want to withdraw.
- Click on the “Send” button and enter the amount you want to send.
- Paste or scan the address of the recipient wallet or exchange.
- Confirm the transaction details and click on “Send Now”.
Your transaction will be broadcasted to the network and confirmed by the miners. The time it takes for the transaction to be confirmed may vary depending on the network congestion and fees. You can also view your transaction history on the “Portfolio” tab.
What are the Fees and Limits for Withdrawing From Coinbase?
Coinbase charges different fees and imposes different limits for withdrawing fiat currency and cryptocurrency from its platform. The fees and limits may vary depending on the method, location, and amount of withdrawal. Here are some general guidelines for fees and limits:
- For fiat currency withdrawals, Coinbase charges a variable fee based on the payment method and location. The fee may range from 1.49% to 3.99% of the withdrawal amount. You can see the exact fee before confirming your withdrawal request.
- For cryptocurrency withdrawals, Coinbase does not charge any fee from its side, but it deducts a network fee from the withdrawal amount. The network fee is determined by the network congestion and demand at the time of withdrawal. You can see the exact fee before confirming your withdrawal request.
- For fiat currency withdrawals, Coinbase imposes a daily limit based on your verification level and location. The limit may range from $10,000 to $50,000 per day. You can see your current limit on the “Withdraw” page.
- For cryptocurrency withdrawals, Coinbase does not impose any limit from its side, but it requires a minimum amount for each withdrawal. The minimum amount is determined by the network fee at the time of withdrawal. You can see the minimum amount on the “Send” page.
Conclusion
Coinbase is a great platform for buying, selling, and storing cryptocurrencies, but some users may want to withdraw their funds from Coinbase to their bank accounts or other wallets for various reasons. Withdrawing from Coinbase is possible, but it requires some steps and precautions. Users should link their bank accounts or payment methods to their Coinbase accounts first, then transfer their fiat currency or cryptocurrency balances accordingly. Users should also be aware of the fees and limits that apply for each withdrawal method and amount. If you want to learn more about withdrawing from Coinbase, you can visit the official help page for more information and support.