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How to Withdraw Money From Coinbase to Bank Account

To withdraw money from Coinbase to your bank account, you need to sell a cryptocurrency.

After you’ve sold the cryptocurrency, you can withdraw your funds using a payment method that you’ve added.

If you haven’t added a payment method yet, you need to add one.

There are multiple payment methods that you can use including PayPal, bank account, and debit/credit card.

You can link your PayPal account to instantly withdraw cash from Coinbase to PayPal.

Similarly, you can add a bank account that can make and accept SEPA payments.

If you’re living in Europe, there’ll be a “Euro Bank Account” option.

You can add a payment method by navigating to your settings.

Then, navigate to “Payment method” to add a new payment method.

Get $10 USD in free Bitcoin on Coinbase here: https://www.coinbase.com/join/lim_di1

Here’s how to withdraw money from Coinbase to your bank account:

  1. Open the Coinbase app and tap on the reverse icon
  2. Tap on “Sell”
  3. Select the asset that you want to sell
  4. Enter the amount of crypto that you want to sell
  5. Tap on “Sell now”
  6. Tap on “Withdraw funds”
  7. Enter the amount that you want to cash out and select the destination
  8. Tap on “Cash out now”
  9. Your cash is on its way

1. Open the Coinbase app and tap on the reverse icon

To begin with, you need to open the Coinbase app.

You can also use the desktop version of Coinbase for this.

For the purpose of this guide, we’ll use the Coinbase app instead.

Once you’re on the Coinbase app, tap on the reverse icon on the bottom navigation bar.

If you’re using the desktop version of Coinbase, click on the “Buy/Sell” button instead.

2. Tap on “Sell”

After you’ve tapped on the reverse icon, you’ll see a list of options.

This includes “Buy”, “Sell”, “Convert”, and more.

Before you can cash out (withdraw money from Coinbase), you need to sell a cryptocurrency.

If you already have fiat currency in your Coinbase wallet, you need to tap on the currency that you want to withdraw.

You can do this by navigating to the “Assets” page and tapping on the currency that you want to withdraw (e.g. EUR).

Next, enter the amount that you want to withdraw, select the transfer destination (e.g. bank account), and withdraw it.

If you don’t have fiat currency in your Coinbase wallet, tap on “Sell”.

3. Select the asset that you want to sell

After you’ve tapped on “Sell”, you’ll land on the “Select asset to sell” page.

On the page, you’ll see a list of assets that you own.

Now, you need to select the asset that you want to sell.

For example, if you want to sell Bitcoin, select “Bitcoin”.

On the other hand, if you want to sell Ethereum, select “Ethereum”.

4. Enter the amount of crypto that you want to sell

After you’ve selected the asset that you want to sell (e.g. Bitcoin), you’ll land on the selling page.

On the page, you need to enter the amount of cryptocurrency that you want to sell.

For example, if you want to sell Bitcoin, you need to enter the amount of Bitcoin that you want to sell (in cash).

Once you’ve entered the amount of cryptocurrency that you want to sell (e.g. $8), tap on “Preview sell”.

5. Tap on “Sell now”

After you’ve tapped on “Preview sell”, you’ll see an order preview.

This includes the current price of the cryptocurrency that you’re selling and the sale price.

It also includes the fee and the total cash that you’re going to get from the sale.

Make sure that everything is fine before you sell.

Once you’ve checked that everything is fine, tap on “Sell now” to sell the cryptocurrency.

6. Tap on “Withdraw funds”

Coinbase withdraw funds

After you’ve tapped on “Sell now”, you’ll land on the “Successfully sold” page.

On the page, you’ll see the total amount of cryptocurrency that you’ve sold.

At the bottom of the page, you’ll see a couple of buttons.

This includes “Show details” and “Withdraw funds”.

Now, you can immediately cash out your funds to a bank account.

To do so, tap on “Withdraw funds” to cash out.

7. Enter the amount that you want to cash out and select the destination

How to Withdraw Money From Coinbase to Bank Account

After you’ve tapped on “Withdraw funds”, you’ll land on the “Cash out” page.

On the page, you need to select the transfer destination.

If you haven’t added a transfer destination, you need to add it.

You can add PayPal or your bank account.

You can add your bank account to Coinbase by navigating to settings > payment methods > add a payment method > US/Euro Bank Account.

Next, enter your bank name, IBAN, BIC, and tap on “Verify Your Account”.

Then, you may be required to send a small amount of money to Coinbase to verify your bank account.

It can take 1 to 2 business days for your bank account to be verified after you’ve sent the funds.

If you’re lost, you can watch this YouTube video for more information on how to link your bank account to Coinbase: https://www.youtube.com/watch?v=zEd_7SAlLCw.

If you’ve already added your bank account to Coinbase, select your bank account as the transfer destination.

Lastly, tap on “Preview cash out” to preview the withdrawal.

8. Tap on “Cash out now”

Coinbase cash out

After you’ve tapped on “Preview cash out”, you’ll land on the “Confirm cash out” page.

On the page, you’ll see the withdrawal details.

This includes where you’re sending the funds to, when your funds will arrive, the cash out amount, and more.

Make sure to check that all of the details are fine.

Tap on “Cash out now” to withdraw your money from Coinbase to your bank account.

9. Your cash is on its way

Coinbase money withdrawal

After you’ve tapped on “Cash out now”, you’ll land on the “Your cash is on its way” page.

On the page, you’ll see the amount of cash that you’re going to receive.

The withdrawal process typically takes 1 to 2 business days to complete if you’re withdrawing to your bank account.

Coinbase will notify you when the cash out is complete.

You’ve successfully learned how to withdraw money from Coinbase to your bank account!

Conclusion

In most cases, withdrawing money from Coinbase to your bank account will take 1 to 2 business days.

If you’re having trouble with withdrawing your funds, you can contact Coinbase support here: https://help.coinbase.com/en.

Once you’re on the page, scroll down until you find the “Contact us” button.

Tap on the “Contact us” button to go to the contact page.

On the contact page, select “Coinbase” and select the categories that you need help with.

Lastly, enter your email address, the subject of the message, the message, and submit it.

Further reading

How to Create a Coinbase Account

How to Create a Binance Account

Best Binance Referral ID Code in 2021

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About the author

Lim How Wei

Lim How Wei is the founder of followchain.org, with over 7+ years of experience in Social Media and 3+ years of experience in investing in stocks and cryptocurrencies. He has researched, tested, and written hundreds of articles ranging from social media platforms to messaging apps.