If you’re a Coinbase user, you may be wondering how to cash out your Coinbase account. After all, why hold onto your Bitcoin or Ethereum when you can convert it to USD and cash out? In this article, we’ll show you how to cash out your Coinbase account.
First, let’s review the basics of cashing out on Coinbase. When you cash out of Coinbase, you are selling your Bitcoin or Ethereum to Coinbase itself.
You are not selling to another user. Therefore, when you initiate a cash out, your order is matched to a corresponding sell order on the Coinbase platform at the current market price.
Once your order is matched, it will be processed by Coinbase and the proceeds will be deposited into your account. From there, you can withdraw the USD to your linked bank account or PayPal account.
Now that we’ve reviewed the basics of cashing out on Coinbase, let’s walk through the process step-by-step.
1. Log into your Coinbase account and go to the “Dashboard” page.
2. On the Dashboard page, click on the “Sell” button located near the top right corner of the page.
3. On the “Sell From” dropdown menu, select the wallet that contains the cryptocurrency you want to sell (i.e., Bitcoin or Ethereum).
Enter the amount of cryptocurrency you want to sell in either USD or the specific cryptocurrency unit (i.e., BTC or ETH). 5. Review the transaction details and click “Sell” to confirm.
6. Once your transaction is processed, the proceeds will be deposited into your chosen account (i.e., bank account or PayPal).
And that’s it! You’ve now successfully cashed out of Coinbase.