How do you cash out millions on Coinbase?

 How do you cash out millions on Coinbase?

How do you cash out millions on Coinbase

How to withdraw from Coinbase

Written by Frank Gogol | Updated August 23, 2022

In recent years, Coinbase has attracted millions of users, making it one of the most widely used platforms in the world for buying, trading and withdrawing cryptocurrencies. If you are just getting started with Coinbase, you may have noticed that there is a bit of a learning curve, especially when it comes to how to withdraw money from your Coinbase account. Read on to learn how to easily withdraw money from your Coinbase account!

What is Coinbase?

Coinbase was founded in 2012 as a place to send and receive bitcoin. Since then, the company has grown to support dozens of cryptocurrencies and has users in more than 100 countries. Coinbase operates two separate trading platforms (Coinbase and Coinbase Pro) and a standalone cryptocurrency wallet service (Coinbase Wallet).

How to withdraw money from Coinbase
Coinbase serves millions of people around the world. Coinbase offers several services, such as trading, selling, buying, storing, and stacking cryptocurrencies, whether you are an institutional or retail investor.

Coinbase's user interface for the web and mobile platforms is generally intuitive. However, they can get a little complicated when it comes to withdrawing money from your Coinbase account. To withdraw money from Coinbase, you need to go through the following steps:

  1. Crypto to Fiat Conversion
  1. Withdraw your fiat balance

At first glance, these steps may seem complicated, but they are actually very simple. 

Convert crypto to fiat

The first thing you need to do is convert your cryptocurrency to fiat. To do this, you need to convert your cryptocurrencies into fiat currencies such as EUR or USD. To do this, you need to:

  1. Log in to your Coinbase account.
  2. Click on the "Trade" button in the navigation bar; or
  3. Click on the "Buy/Sell" button at the top right of your screen
  4. Enter the amount you want to trade for fiat in the dialogue box.

  5. Enter how much of your cryptocurrency you want to exchan
  6. Select the crypto asset whose balance you want to exchange
  7. Select the fiat currency you would like to cash out in

Click "Sale Preview" after you have completed these steps and confirm the transaction details. You will then get a confirmation window on your screen that will show you not only how much your fiat wallet will receive, but also how much you will be charged.

Withdrawing your fiat wallet
After you have converted your cryptocurrency into one of the fiat currencies, you can withdraw your balance from Coinbase.To withdraw from Coinbase, you need to: 

  1. Navigate to the "Portfolio" page.
  2. Scroll down to the "Your Assets" section.
  3. Locate and select the converted fiat balance.
  4. Return to the "Your Assets" page.
  5. Click on the "Withdraw" tab.
  6. Enter the withdrawal amount.
  7. Click on the "Withdraw all" button.
  8. Click on the "Withdraw" button to confirm the withdrawal.
  9. Select the desired payment option
  10. Click on "Continue
  11. Confirm or edit your transaction details
  12. Click on "Withdraw now

After you click "Withdraw Now", the transaction will be processed and a fee may apply depending on the currency you chose to withdraw. 

It is important to note that the payment options include SEPA, bank transfers, PayPal account transfers, wire transfers or credit and debit cards.

Note that this will only work if you have previously connected the selected payment method. To learn more about adding a payment method to your Coinbase account, read on.

How to add a payment method to Coinbase

Adding a payment method to Coinbase is pretty simple. All you need to do is: 

  1. Click on your profile picture at the top right of the screen.
  2. Navigate to your "settings" in the dropdown menu
  3. Go to the "Payment methods" tab
  4. Click on the "Link a new account" button

After you click the "Link a new account" button, a dialogue box will appear on your screen showing you what payment methods are available. Select your preferred payment method from the available options and follow the instructions in the dialogue box.

The most common methods include the option to create a:

  • Bank account
  • PayPal account
  • credit/debit card

The availability of some options may be limited by your location. For example, a PayPal account can only be added in regions where PayPal is available. Restrictions may also apply to your bank account and credit or debit card.

Please note that the payment options available to you depend on your location.

To complete the addition of the payment method, Coinbase requires account verification and may charge a small fee.After verification, the new account will be added to the list of payment options and you will be able to use it to withdraw money in the future.

How to withdraw crypto from Coinbase.

Withdrawing cryptocurrencies from Coinbase is a process that can be done in a few simple steps. Here is how to do it:

  1. Click on the "Buy/Sell" button at the top right of the page
  2. Trade or buy the cryptocurrency you want to withdraw
  3. Navigate to the "Send/Receive" page.
  4. Enter the amount and the asset you want to withdraw in the dialogue box
  5. Add an email address in the "Address" field (free of charge); or
  6. Add a crypto address in the "Address" field (chargeable).
  7. Select the asset you would like to withdraw
  8. Click "Next" and 
  9. Confirm or edit your transaction details
  10. Click on "Withdraw now".

After you complete the transaction, your withdrawn crypto funds will reach your account within a few minutes to a few days, depending on the asset and network you choose.

How to withdraw funds from Coinbase Pro.

Coinbase offers a premium alternative called Coinbase Pro. While the two versions of the crypto trading platform differ in some important ways, the withdrawal process is very similar on both platforms.

To withdraw from Coinbase Pro, you can either withdraw as fiat currency (as explained above) or send the money to an external wallet using the following steps:

  1. Navigate to the "Portfolios" page.
  2. Click "Withdraw." 
  3. In the dialogue box, select which asset you want to transfer
  4. Select the transfer to "".
  5. Enter the other withdrawal details 
  6. Click on "Withdraw

Once your money has been received into your account, follow the instructions in the "How to Withdraw Money from Coinbase" section to transfer the money to your PayPal account, bank account, or other account.

How to withdraw cryptocurrency from Coinbase Pro.

To withdraw cryptocurrency from Coinbase Profollow these steps:

  1. Navigate to the "Trade" page.
  2. Click on the "Withdraw" button. 
  3. Select the asset to be withdrawn in the dialogue box
  4. Select "Transfer to crypto address."
  5. Enter the crypto address to which the money is to be transferred

Enter the amount of money to be transferred
Check the network fees and confirmations
Click "Withdraw" to complete the transaction
After you complete the transaction, your withdrawn crypto funds will reach your account within a few minutes to a few days, depending on the asset and network you choose. 

Why can not I withdraw funds from Coinbase?

If you are unable to sell or withdraw funds from Coinbase, it may be due to one of the following reasons:

  • There are restrictions in your region
  • You are a new account holder
  • You have not completed the verification process
  • You have recently made a purchase with a credit card
  • Your account has been found to be fraudulent

Depending on which of the above reasons you cannot withdraw from your Coinbase account, your solution will vary.

Withdrawal from Coinbase Next Steps
There are many reasons to withdraw from Coinbase.

Maybe you need a cash flow infusion. Maybe you are interested in diversifying your crypto portfolio.Or maybe you want to try out a Coinbase competitor like Binance.

Whatever your reasons, the instructions above will help you achieve those goals. Just follow the simple steps and you'll be transferring from your Coinbase account in no time!

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