The San Francisco-based cryptocurrency trading and brokerage platform Coinbase is one of the most sought-after and highly trusted American-based cryptocurrency exchanges. It has millions of customers across the US and other countries. more than 100 countries worldwide. But How Long Does Coinbase Withdrawals Take?
Coinbase is a user-friendly platform both on its website and mobile platforms and on the brokerage platform ( Coinbase.com) and trading platform ( Coinbase Pro), which allows for easy withdrawals of funds on the platform.
The exchange can provide a range of options, such as trading, buying, selling, staking, and storing crypto. These services are offered to both institutional and retail investors.
How To Withdraw Money From Coinbase.com?
When you withdraw your funds, it could differ slightly based on whether you’re withdrawing crypto or fiat. Let’s scrutinize each step:
Step 1: Convert Crypto From Fiat
This procedure assumes that you’ve got some of your crypto funds, but you want to cash them out using fiat currencies like USD, EUR, or GBP in addition to others.
To begin, first, sign in to Your Coinbase.com account. After that, click the Trade button in the right-hand navigation, as in the image below, or click the Buy/Sell button on the right.
Coinbase will open a dialogue box that will specify the amount of cryptocurrency you can trade against fiat. There are five simple steps to follow.
Begin by clicking the Sell tab on the top. You will then enter the amount of crypto you want to convert into fiat. Next, choose the crypto asset with the balance you want to convert. Next, choose the fiat currency you wish to withdraw at step 4.
After that, choose the option to ‘Preview Sell for confirmation of the transaction details. When you confirm the transaction, you will be informed of the charges for the transaction and the amount you’ll receive in your wallet with a fiat currency.
Step 2: Draw Your Fiat Balance
Go to your “Portfolio” page.
Scroll down to the “Your assets’ section, find the balance in fiat currency you transferred from above, and click it. In our instance, we were making the conversion in USD.
On the US Dollar asset page, choose the tab ‘Withdraw’ on the right side of the box. Then, fill in the amount you want to withdraw or select ‘Withdraw to add the entire balance. Select the button ‘Withdraw’ to proceed.
In the next screen, you’ll select your payment method from a list that comprises bank transfer, PayPal, SEPA, wire transfer or credit card. The choices on the screen will be based on the payment method you already have connected with your Coinbase.com account.
If you’re not connected to a payment method, refer to the next section below for how to connect it.
Select the method of payment from the list that you want to withdraw your money and click the ‘Continue’ link.
Within this window, you’ll be given the transaction details you need to confirm. You can return to alter the payment method or the amount you want to withdraw if you want by clicking the back arrow on the top left of the dialogue box.
However, if all seems to be in order, press the button ‘Withdraw Now’ for confirmation of the withdrawal. You’ll see that Coinbase does not charge a fee for fiat withdrawals at this point. Instead, it charges a substantial fee during the point of conversion.
Your transaction is completed at this point. Coinbase will complete the transaction and get your money transferred to your preferred payment method within the time frame you specified earlier. Click on the “Done” button. This will close the dialogue box and allow you to look up your transaction and other transactions in the history section of the asset’s page.
How Long Does Coinbase Withdrawals Take?
The short version: With immediate withdrawal (3 percent fee), You can receive the funds instantly. Traditional withdrawal (no cost),
It is essential to be able to leave the cryptocurrency as fast as you entered it since the cryptocurrency market is highly volatile, and there can be huge swings between hours. Similar to how I’m a massive admirer of the dollar cost averaged into crypto.
What’s the typical time for it to take?
In some cases in the US, an immediate cash withdrawal through Coinbase with no instant withdrawal. Funds are received the same day. For this example, To take out more than $1000 and began the transaction at 9 am Pacific. Around 1:30 pm Pacific, the same time (so 4.5 hours more), the funds will be received. It’s a fantastic method to avoid the 3percent instant transaction fee.