- Log into your Coinbase account
- Go to the “Accounts” or “Portfolio” section
- Select the cryptocurrency (e.g. Bitcoin, Ethereum) you want to withdraw
- Click on “Withdraw”
- Enter the amount you want to withdraw and select your bank account as the destination
- Review the details and fees associated with the withdrawal
- Confirm the withdrawal
The funds should arrive in your bank account within 1-5 business days usually. However, it can vary depending on your location, bank, and other factors.
Some key points:
- Withdrawing USD or fiat currency is free. Withdrawing cryptocurrency will incur a network fee that varies based on market conditions. Coinbase covers the network fee for USDC withdrawals.
- You can instantly cash out money from your USD balance to your bank account if you live in a state that supports instant withdrawals.
- You can also withdraw cryptocurrency from Coinbase to an external crypto wallet by providing the correct wallet address. Double check the address is right before confirming.
- Enabling two-factor authentication and other security measures on your Coinbase account is highly recommended to keep your funds safe.
So in summary, withdrawing money from Coinbase to your bank is generally a fast and straightforward process. Just be aware of the fees, processing times, transaction limits, and security protocols in place. Let me know if you have any other questions!
