How To Withdraw Money From Coinbase To Bank Account (2023)

Timothy Iyekowa
Timothy Iyekowa - Writer & Editor
11 Min Read

To Withdraw money from Coinbase to your bank account you’ll have to sell your crypto asset for Fiat currency. You can sell your Bitcoin or Ethereum for cash.

Coinbase makes it easy for anyone to withdraw their money from the app to their bank account, but the funds should be in the Fiat Wallet.

You’ll be able to use different payout methods to get your money to your bank account. It can take between 1-5 days depending on the withdrawal option.

In this article, you’ll learn how to withdraw money from Coinbase to bank account. You’ll be able to easily get your funds to your bank account.

ALSO READ: How To Withdraw Money From Crypto.com To Bank Account

How To Withdraw From Coinbase To Bank Account

If you want to withdraw your Coinbase money to your bank account, you’ll need to sell your crypto asset for Fiat currency [USD Balance].

Create a Coinbase account to get $10 for free when you trade $100.

Withdraw Money From Coinbase App To Bank Account

Before you cash out your money to your bank account, make sure you’ve linked a payment method and have funds ready for withdrawal.

Step 1: Open Coinbase App

To withdraw money from the Coinbase app to your bank account, open the app on your iOS or Android device. You’ll need to sell the crypto for the supposed Fiat currency.

Step 2: Sell Crypto For Fiat

You’ll need to sell/trade the crypto for Fiat, tap Sell from the Home screen and select the Crypto you want to sell for Fiat, and enter the amount.

Now, tap Preview sell to confirm the transaction details, if it’s all good, tap on Sell now.

The money will be available in your Fiat balance [USD, AUD, GBP balance, for example].

Note: There may be a short holding period on your cash that will prevent you from immediately cashing out.

Step 3: Withdraw Money To Bank Account

Once you’ve sold the cryptocurrency for Fiat and you’ve waited for the short holding period to pass. You’ll now be able to withdraw money to your bank account.

Tap on the three dots on the Home screen, then tap Cash out and enter the amount you want to withdraw.

Choose your preferred withdrawal method and tap Preview cash out to see the transaction details. If everything is okay, tap on Cash out now.

ALSO READ: How To Withdraw Money From Binance To Your Bank Account

Withdraw Money From Coinbase Web To Bank Account

If you’re using your computer, go to coinbase.com. And make sure you’ve some crypto assets that you can sell. Make sure you’ve linked a payment method.

Step 1: Open Coinbase.com

Open the Coinbase.com website on your computer, then click on the Buy/Sell button, which is at the top right navigation bar.

Step 2: Sell Crypto Assets

From the Buy/Sell section, tap on the Sell tab and enter the amount of crypto you want to sell.

Select the crypto assets that you want to sell. You can sell your Bitcoin, Ethereum, Litecoin, etc.

Now, select the Fiat currency you want to sell the crypto asset for. If you want to sell for USD, select USD, if you want to sell for GBP or EUR, select GBP or EUR.

And then click on Preview Sell to confirm the details of the transaction You’re about to make.

From the Preview Sell window, you’ll see the amount that’ll be credited to your Fiat Wallet, you’ll also see the transaction fee.

Step 3: Withdraw Money To Bank Account

Once you’ve sold the crypto for Fiat currency, you’ll now be able to withdraw from Coinbase to your bank account.

Tap on the Portfolio icon from the left bar menu, it’s the second icon. And then scroll down to Your assets.

Tap on the Fiat currency you sold the crypto for. If you sell the crypto for USD, tap on US Dollar.

From the US Dollar page, tap on USD Balance, which has the Deposit and Withdraw tab.

Then enter the amount you want to withdraw to your bank account, you can decide to withdraw all if you want. After that, tap on Withdraw.

Step 4: Enter Payment Method

Select your preferred payment method. Choose how you want Coinbase to send you your money.

You can select Bank Transfers, PayPal, SEPA, Credit/Debit Card, or Wire Transfer.

Note: You’ll only see this payment option when you’ve already added the payment option to your Coinbase account. See how to add a payment method to Coinbase below ?.

You should know that payment options differ from countries, and you may not see PayPal or Wire Transfers available in your region.

Once you select your payment option, click
on Continue. Then confirm your transaction details and click Withdraw now.

ALSO READ: How To Withdraw Money From Trust Wallet To Bank Account

How To Add A Payment Method To Coinbase

To add a payment method to your Coinbase account, you’ll need to go to your account settings and add any available payment option.

Add A Payment Method To Coinbase App

Step 1: Open Coinbase App

Open the Coinbase app on your iOS or Android device and tap on the three horizontal lines at the top left corner.

Step 2: Tap Profile & Settings

From the menu section, tap on Profile & Settings and then tap on Add a payment method.

Step 3: Add Payment Method

From the payment method page, select any of the payment options and add your banking information.

You can add your Bank account, use your Debit Card, or add your banking details for Wire Transfer.

ALSO READ: How To Enable DApp Browser On Trust Wallet (iPhone And Android)

Add A Payment Method To Coinbase Web

Step 1: Open Coinbase.com

Open the Coinbase website on your computer, then click on your profile picture at the top right corner.

Step 2: Tap Settings

From the Profile page, click on Settings from the dropdown menu and click on the Payment Methods tab at the top bar.

Step 3: Set Payment Method

From the payment method page, click on Link a New Account at the top right corner of the screen.

After you click on Link a New Account, you’ll see a dialogue box will pop up on your screen.

This show you which payment methods are available depending on your location. The payment options in the US, UK, EU, AU, etc are different.

So from the dialogue box, select the preferred payment method that you’ll like to receive your money on and follow the on-screen guide.

Make sure you give in the required details for the Bank Account or PayPal account that you want to link with Coinbase.

Conclusion

Withdrawing your money from Coinbase to your bank account is easier. All you need is a verified account and you’ll be able to make withdrawals.

Depending on the country you’re in, there’ll be different payment portioners for you to choose from. You can either use PayPal, credit/debit card, bank account, wire transfer, etc.

Coinbase is available in most countries but doesn’t provide withdrawal for the users, it may be because of some restriction from the government.

If you’re not able to make a withdrawal from Coinbase to your bank account, you can use Binance.

Binance can allow you to withdraw crypto money from the app directly to your bank account using their peer-2-peer option.

ALSO READ: How To Cash Out On Veve Using Payout

Frequently Asked Questions

How long do I have to wait to withdraw from Coinbase?

If you’re withdrawing funds from Coinbase, you’ll have to wait for 1-5 days to get your money in your bank account. But it all depends on the payout option you’re using to cash out and the country you’re in. If you made a withdrawal, you’ll see when your funds will arrive.

Why can’t I get my money out of Coinbase?

If you can’t get withdraw your money out of Coinbase, it may be that your account is new, verification isn’t completed, your account has been flagged, recently purchased with your credit card, or there’s some restriction in your country.

Can I withdraw from Coinbase to my bank account?

Yes, you can withdraw from Coinbase to your bank account. But you’ll need to sell any of the crypto assets to be able to get a Fiat currency and withdraw it to your bank account. There are different options you can use to get these funds to your account.v

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By Timothy Iyekowa Writer & Editor
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As a seasoned content writer with 4+ years of experience in consumer technology, Timothy has been a dedicated author and editor at Techvocast.com since its inception. Specializing in addressing user concerns, his articles offer effective solutions for Android, iOS, Windows, and Mac-related issues. Timothy's expertise also extends to crafting content about social media and various applications. Through his daily articles, he consistently aids users in overcoming their technology challenges.
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