Coinbase is an American company that operates a cryptocurrency exchange platform. It is the largest cryptocurrency exchange in America. The company was founded in 2012.
There are so many people who use this platform to buy, sell, and trade their cryptocurrencies.
When rooting these transactions, they many times need to cash out their digital assets, which are the cryptocurrencies. Lets read on to see how possible it is to cash out coinbase.
How To Cash Out Coinbase Via Web?
Steps To Cash Out Coinbase Via Web:
Step 1: Visit The Coinbase Website
On your browser, you need to search for the website www.coinbase.com.
After being redirected to the login page, log in to the website with your credentials.
Step 2: Go To Your Wallet
Now, you need to go to your wallet, where the record of the cryptocurrency you brought is stored.
Step 3: Choose Buy/Sell
Now you need to choose the cryptocurrency you want to buy or sell and click buy/sell.
Step 4: Enter The Amount
On the sell tab, select the asset you wish to sell and also enter the required amount.
Step 5: Selling The Asset
Then click sell and confirm by clicking the sell option and completing the transaction.
Step 6: Add Payment Method
Before you choose to cash out your funds, you need to link a payment method with your account.
Step 7: Select The Cash-Out Option
Tap on the cash balance option under the Asset option. Now, you will have to type the amount that you need to cash out and tap on the continue option
Step 8: Select The Destination
You will now have to choose the address where you wish to cash out. Tap on the cash-out option and wait for the transaction to be processed.
How To Cash Out Coinbase Via Mobile App?
Steps To Cash Out Coinbase Via Mobile App:
Step 1: Log In To Coinbase App
Make sure that you have updated the Coinbase application on your system. Also, use your credentials and log in to the account.
Step 2: Sell Your Tokens
Now tap sell on the home tab. From the list, you have to tap on the asset you wish to sell and also type the amount.
Step 3: Preview The Order
Tap preview now, and then tap on the sell option and complete the transaction.
Step 3: Preview The Order
Tap preview now, and then tap on the sell option and complete the transaction.
Step 4: Link Payment Method
Link a payment method with your account. The payment method should be the one through which you wish to receive your amount.
Step 5: Choose Cash-out
Go to the home tab and then go to the More option. Under this, choose the cash-out option.
Step 6: Enter The Amount
Enter the amount you want to cash out and select the destination of the transfer.
Step 7: Complete Transaction
Check all the details, including the destination address and the amount. Select cash to complete the action.
Step 4: Link Payment Method
Link a payment method with your account. The payment method should be the one through which you wish to receive your amount.
Step 5: Choose Cash-out
Go to the home tab and then go to the More option. Under this, choose the cash-out option.
Step 6: Enter The Amount
Enter the amount you want to cash out and select the destination of the transfer.
Step 7: Complete Transaction
Check all the details, including the destination address and the amount. Select cash to complete the action.
To Convert Your Cryptocurrency
- Sign in to your Coinbase account
- Click Buy / Sell > Convert
- Enter the amount of cryptocurrency you want to convert
- Click Preview Convert
- Confirm the conversion transaction
To Transfer Funds To Your Bank Account
Coinbase uses the ACH bank transfer system, which typically takes 3–5 business days to complete. You can also leave your cash balance in your Coinbase account to use for future crypto purchases.
What to consider
- You can sell your cryptocurrency to your cash balance at any time.
- You can use your cash balance to buy crypto or transfer it to your bank account.
- ACH bank transfers typically take 3–5 business days to complete.
- There is a limit of $100,000 per transaction for instant bank cashouts.
- You can review Coinbase's unclaimed funds policy to learn how long your funds will be available for withdrawal.
Conclusion
Coinbase has a huge customer base that requires them to cash out their assets frequently.
The above steps will help you to cash out your assets on both the platforms, which are the website of Coinbase and their app.
We hope the steps explained simply above would help you understand the process of firstly selling your digital assets and then cashing them out and converting them into real-time money.