Are you looking to cash out some of your cryptocurrency investments from Coinbase and transfer the funds to your bank account?
With Coinbase, the process of withdrawing funds is straightforward.
However, it's important to note that it may take some time for the funds to become available for withdrawal due to the settlement process.
In this article, we will guide you through the steps on how to withdraw funds from Coinbase to your bank account. We'll also be explaining the fund settlement process.
New to the world of cryptocurrencies? Check out my full Coinbase tutorial video below!
Let's dive in.
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In order to withdraw funds from Coinbase, you'll need a linked bank account. You can skip ahead to the next step if you've already done this before.
If you haven't linked an account yet, here's how to link a bank account.
Open your Coinbase app, and follow these steps:
After signing in with Plaid, your bank account will be linked and verified.
Start by logging into your Coinbase account using your username and password.
Once you are logged in, navigate to the "My Assets" section using the bottom menu.
In the "My Assets" section, you will see a list of your cryptocurrency holdings and their respective balances.
Locate your local currency balance, which is the currency you want to withdraw to your bank account (USD, EUR, GBP).
Below your local currency balance, you'll see a "Cash out" option.
Click on it to initiate the withdrawal process.
On the next screen, enter the amount of the currency you wish to withdraw to your bank account.
You will be prompted to select a destination for your withdrawal.
Choose the bank account where you want to receive the funds.
Before finalizing the withdrawal, review all the details. Once you have reviewed and confirmed all the details, click the "Withdraw cash" button to complete the transfer.
Coinbase will initiate the process of transferring your funds from your Coinbase account to your chosen bank account.
As mentioned before, there is a settlement period after you sell crypto assets within Coinbase.
This means the funds won't be available to withdraw immediately.
It can take up to 5 business days for funds to settle after a sale, so be sure to check back in the app to see when your funds are available for withdrawal.
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