Coinbase is a popular cryptocurrency exchange platform that allows users to buy, sell, and store various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. It is one of the most trusted and user-friendly platforms for trading cryptocurrencies. If you’re a Coinbase user wondering how to cash out on Coinbase, this article will guide you through the process.
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Step 1: Sign in to Coinbase
The first step to cash out your cryptocurrencies on Coinbase is to sign in to your Coinbase account. If you don’t already have a Coinbase account, you will need to create one. This involves providing basic personal information, verifying your identity, and linking a payment method, such as a bank account or credit card.
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Step 2: Sell your cryptocurrency
Once you’ve logged in to your Coinbase account, you can start the process of cashing out your cryptocurrency. To do this, you need to sell the cryptocurrency you want to cash out. Here’s how:
a. Go to the “Accounts” tab in your Coinbase account and select the cryptocurrency you want to sell.
b. Click on the “Sell” button.
c. Enter the amount of the cryptocurrency you want to sell or the amount of fiat currency you want to receive.
d. Review the transaction details, including the price, fees, and payout amount.
e. Click on the “Sell” button to confirm the transaction.
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Step 3: Withdraw your funds
Once you’ve sold your cryptocurrency on Coinbase, the next step is to withdraw your funds. You can withdraw your funds to your linked bank account or PayPal account, or you can opt for a Coinbase wallet.
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To withdraw funds to your bank account, follow these steps:
a. Go to the “Accounts” tab in your Coinbase account and click on the “Withdraw” button next to the fiat currency balance you want to withdraw.
b. Select your linked bank account or PayPal account.
c. Enter the amount you want to withdraw and confirm the transaction.
d. Coinbase will process your withdrawal request, and you should receive your funds within a few business days, depending on your bank’s processing time.
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To withdraw funds to a Coinbase wallet, follow these steps:
a. Go to the “Accounts” tab in your Coinbase account and click on the “Send” button next to the cryptocurrency you want to send.
b. Enter the recipient’s Coinbase wallet address and the amount you want to send.
c. Review the transaction details and confirm the transaction.
d. The funds will be sent to the recipient’s Coinbase wallet, and they can withdraw the funds to their bank account or PayPal account.
Conclusion
Cashing out on Coinbase is a simple and straightforward process. By following the steps outlined in this article, you can sell your cryptocurrency and withdraw your funds to your preferred payment method. Keep in mind that there may be fees associated with selling and withdrawing your funds, so make sure to review the transaction details before confirming your transactions.
