Coinbase has attracted millions of users over the last few years, making it one of the most popular platforms for buying, trading, and cashing out cryptocurrency in the world. If you’re new to Coinbase, you may have noticed that there’s a bit of a learning curve, particularly when it comes to withdrawing money from your Coinbase account. But don’t worry, we’ll be here to assist you. Continue reading to find out how to get money out of your Coinbase account quickly.
Coinbase, a cryptocurrency brokerage and trading platform based in San Francisco, is currently one of the most popular and well-known crypto exchanges in the United States. It has millions of customers in the United States and over 100 countries around the world.
The exchange provides a number of services, including crypto buying, selling, trading, staking, and storage. Both retail and institutional investors can use these services.
Coinbase’s web and mobile interfaces, as well as its brokerage (Coinbase.com) and trading platforms (Coinbase Pro), have an intuitive interface that allows for seamless asset withdrawals.
Exchange of cryptocurrencies Coinbase is introducing a new method for withdrawing funds from your account. You can transfer USD, EUR, or GBP to your bank account almost instantly if you’ve added a compatible debit card to your account.
There are some disadvantages, the most significant of which is that you will be charged a lot of fees. Coinbase deducts 1.5 percent from each transaction in the United States, or a minimum of $0.55 if it’s a small transaction. Fees are charged at 2% or a minimum of £0.45/€0.52 in the United Kingdom and Europe, respectively.
A compatible card is also required. Incoming transfers are not supported by all debit cards. A Visa card that supports Visa Fast Funds is required. You can also use a Mastercard card with Mastercard Send in the United States.
It’s difficult to tell whether your bank or credit card company supports those features. Adding your card to Coinbase and seeing what Coinbase says is probably the best way to figure it out.
Other withdrawal methods are not being phased out by Coinbase. A SEPA bank transfer, for example, costs €0.15 per transfer if you’re looking for a cheaper way to withdraw funds in Europe. If your bank has enabled instant SEPA transfers, Coinbase will accept them.
What exactly is Coinbase?
Coinbase began in 2012 as a platform for sending and receiving Bitcoin. Since then, the company has expanded to support dozens of different cryptocurrencies and has over a hundred countries as users. Coinbase offers two different trading platforms (Coinbase and Coinbase Pro), as well as a cryptocurrency wallet service (Coinbase Wallet).
How to Add a Coinbase Payment Method
It’s simple to add a payment method to Coinbase. All you have to do is complete the following steps:
- At the top-right of the screen, click on your profile picture.
- Select “Settings” from the dropdown menu.
- Select “Payment Methods” from the drop-down menu.
- To link a new account, click the “Link a New Account” button.
- When you click the “Link a New Account” button, a dialogue box appears on your screen, displaying the available payment methods. Choose your preferred payment method from the list and follow the on-screen instructions.
The ability to add a: will be one of the most common methods.
- Account in a bank
- Account with PayPal
- Card (credit/debit)
- Your location may limit the availability of some options. A PayPal account, for example, can only be added in areas where PayPal is available. Your bank account, as well as your credit or debit card, may have limitations.
Please keep in mind that the payment options available to you will vary depending on where you are.
Coinbase will ask you to verify your account and may charge a small fee to complete the payment method addition. The new account will be added to the payment options list once it has been verified, and you will be able to withdraw funds from it in the future.
Is It Possible To Transfer Money From A Bank Account To Your Coinbase Wallet?
Yes, it is possible to transfer funds from a bank account to your crypto wallet using the procedure described above. This is what you must do.
Coinbase allows you to link your bank account.
You can now initiate an ACH transfer by simply depositing funds into your Coinbase USD wallet from your bank account. These funds are immediately available for purchase and sale on Coinbase.
It’s possible that this money won’t be available for withdrawal from Coinbase or for sending to Coinbase Pro right now.
Before confirming your order, make sure you can send money from Coinbase online or withdraw money from your phone.
Attention! As soon as your transaction is validated, your deposited cash or acquired cryptocurrency should be available in your Coinbase Digital Wallet. You can immediately buy, sell, or trade on Coinbase after making a purchase.
Purchases made with a debit card
How to Get Money From Coinbase To Your Bank Account
It’s simple to transfer money from Coinbase to your bank account. In fact, you can do so using both the web browser and the app. We’ve outlined both protocols below to keep things simple.
Using The Internet Explorer
- In a web browser, go to the Assets section and find your cash balance.
- On the Cash out tab, enter the amount you want to withdraw and then click Continue.
- Then, after choosing your cash-out location or bank, click Continue.
- Click Cash out Now to complete your transfer.
Using the Coinbase App
- Choose Cash-out from the main menu.
- After entering the amount you want to withdraw and selecting your transfer destination or bank account details, tap Preview cash out.
- To complete the process, tap Cash out now.
Conclusion
Coinbase is a safe and secure online exchange where you can buy, sell, transfer, and store digital currency.
It creates a global open financial system and serves as the primary global brand for converting digital currency to and from local currencies. You can even easily transfer virtual money to your bank account!
