How to Cash Out on Coinbase

Coinbase is a popular cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies. If you’ve made some profits on Coinbase and want to cash out, there are a few different ways you can do it.

1. Sell your cryptocurrency and withdraw the proceeds to your bank account

This is the most common way to cash out on Coinbase. To do this, simply sell your cryptocurrency for USD or another fiat currency. Once the sale is complete, you can withdraw the proceeds to your bank account.

2. Use Coinbase’s instant cashout feature

Coinbase offers an instant cashout feature that allows you to sell your cryptocurrency and receive the proceeds in your bank account within minutes. This feature is only available for USD, EUR, GBP, and CAD.

3. Use a third-party exchange

There are a number of third-party exchanges that allow you to cash out your cryptocurrency. These exchanges typically offer lower fees than Coinbase, but they may also have less liquidity.

4. Use a peer-to-peer exchange

Peer-to-peer exchanges allow you to sell your cryptocurrency directly to another user. This can be a good option if you want to avoid fees, but it can also be more risky.

Which method is right for you?

The best way to cash out on Coinbase depends on your individual needs. If you need the money quickly, the instant cashout feature is a good option. If you’re looking for the lowest fees, a third-party exchange may be a better choice. And if you want to avoid fees altogether, a peer-to-peer exchange is the way to go.

Here are the steps on how to cash out on Coinbase using each method:

1. Sell your cryptocurrency and withdraw the proceeds to your bank account

1. Log in to your Coinbase account.
2. Click on the “Sell” button.
3. Select the cryptocurrency you want to sell.
4. Enter the amount of cryptocurrency you want to sell.
5. Select your bank account as the withdrawal destination.
6. Click on the “Sell” button.
7. Once the sale is complete, the proceeds will be deposited into your bank account within a few days.

2. Use Coinbase’s instant cashout feature

1. Log in to your Coinbase account.
2. Click on the “Cash out” button.
3. Select the cryptocurrency you want to cash out.
4. Enter the amount of cryptocurrency you want to cash out.
5. Select your bank account as the withdrawal destination.
6. Click on the “Cash out now” button.
7. The proceeds will be deposited into your bank account within minutes.

3. Use a third-party exchange

1. Find a third-party exchange that allows you to cash out your cryptocurrency.
2. Create an account and deposit your cryptocurrency.
3. Sell your cryptocurrency for USD or another fiat currency.
4. Withdraw the proceeds to your bank account.

4. Use a peer-to-peer exchange

1. Find a peer-to-peer exchange that allows you to sell your cryptocurrency.
2. Create an account and list your cryptocurrency for sale.
3. Find a buyer who is willing to pay your asking price.
4. Once a buyer has been found, complete the transaction and receive the proceeds in your bank account.

Conclusion

Cashing out on Coinbase is a relatively simple process. The best method for you will depend on your individual needs and preferences.