Coinbase Wallet is a self-custody crypto wallet that gives you full control over your digital assets. However, it does not support direct withdrawals to your bank account. To cash out your funds, you must first transfer them to your Coinbase exchange account and then withdraw them to your bank. Here’s a step-by-step guide on how to do it.
Step 1: Transfer Crypto from Coinbase Wallet to Coinbase Exchange
- Open Coinbase Wallet: Launch the Coinbase Wallet app on your mobile device or access it via your browser extension.
- Select the Crypto You Want to Transfer: Tap on the cryptocurrency you wish to move.
- Tap “Send” and enter your Coinbase exchange wallet address.
- If you don’t know your Coinbase address:
- Open your Coinbase app or log in to Coinbase.com.
- Navigate to “Assets” and select the cryptocurrency you want to receive.
- Tap “Receive” and copy the address.
- Enter the Amount: Specify how much crypto you want to transfer.
- Review & Confirm: Double-check the details, then confirm the transaction.
Transfers usually take a few minutes, but it can vary depending on network congestion.
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Step 2: Sell Crypto for Fiat (USD, EUR, etc.) on Coinbase
- Open Your Coinbase Exchange Account and go to the “Assets” section.
- Locate the Crypto You Transferred and tap “Trade” or “Sell.”
- Choose the Fiat Currency (e.g., USD, EUR) and enter the amount to sell.
- Review and Confirm the Sale.
Once the sale is complete, your funds will appear in your fiat balance on Coinbase.
Step 3: Withdraw Funds to Your Bank Account
- Go to the “Assets” or “Portfolio” Section in Coinbase.
- Select Your Fiat Balance (e.g., USD, EUR).
- Tap “Withdraw” or “Cash Out.”
- Choose Your Bank Account (or link one if you haven’t yet).
- Enter the Withdrawal Amount and confirm the transaction.
Processing Times & Fees
- Standard Bank Transfers: May take 1-5 business days.
- Instant Cashouts (if available in your region): Can be immediate but may incur higher fees.
- Withdrawal Fees: Vary depending on your region and withdrawal method.
Final Thoughts
By following these steps, you can easily transfer funds from your Coinbase Wallet to your bank account. If you encounter issues, Coinbase offers support via their Help Center.
For any Coinbase-related inquiries, you can also call 1- 844-311-2583 for assistance.
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