How to withdraw money from coinbase pro to bank account

Posted by in Crypto | Updated on August 23, 2022

Over the last few years, Coinbase has attracted millions of users, making it one of the most used platforms in the world for buying, trading, and cashing out crypto. If you’ve just gotten started with Coinbase, you may have noticed that there’s a bit of a learning curve, especially when it comes to how you withdraw money from your Coinbase account. But don’t worry – we’re here to help. Read on to learn how to easily cash out of your Coinbase account!

• What is Coinbase?
• How to Withdraw Funds from Coinbase
• How to Add a Payment Method to Coinbase
• How to Withdraw Crypto from Coinbase
• How to Withdraw Funds from Coinbase Pro
• How to Withdraw Crypto from Coinbase Pro
• Coinbase Crypto Withdrawal Fees
• Why Can’t I Withdraw from Coinbase?
• Read More About Crypto
• Withdrawing from Coinbase Next Steps

What is Coinbase?

Coinbase was founded in 2012 as a place to send and receive Bitcoin. Since then, the company has grown to support dozens of unique cryptocurrencies and has users in more than 100 countries. Coinbase runs two separate trading platforms (Coinbase and Coinbase Pro) in addition to a standalone cryptocurrency wallet service (Coinbase Wallet).

How to Withdraw Funds from Coinbase

Coinbase serves millions of people all over the world. It offers multiple services, such as trading, selling, buying, storing, and stacking crypto, regardless of whether you are an institutional or a retail investor.

The Coinbase user interface for the web and mobile platforms is, generally, intuitive. They can, however, get a little tricky when it comes to withdrawing funds from your Coinbase account. In order to withdraw funds from Coinbase, you will have to go through the following steps:

1. Crypto to Fiat Conversion
2. Withdraw Your Fiat Balance

At first glance, these steps might seem complicated, but they’re, really, very simple. Read on to learn more about each of these step

Crypto to Fiat Conversion

The first thing you have to do is to convert your crypto to fiat. In order to do this, you must convert your crypto into fiat currencies like EUR or USD. To do this you must: 

1. Log in to your Coinbase account
2. Click the “Trade” button on the navigation bar; or
3. Click the “Buy/Sell” at the top-right of your screen
4. Input the amount that you want to trade for fiat in the dialogue box
5. Go to the “Sell” tab at the top of the screen
6. Input how much of your crypto you want to convert
7. Pick the crypto asset whose balance you want to convert
8. Choose the fiat currency you wish to withdraw in

Click on “Preview Sell” after performing these steps and confirm the transaction details. You will then get a window with the confirmation on your screen, which will not only show you how much your fiat wallet will receive but also how much you are charged in fees.

Withdraw Your Fiat Balance

Now that you’ve converted your crypto into one of the fiat currencies, you can bring the process of withdrawing your funds from Coinbase. To cash out of Coinbase, you need to: 

1. Navigate to the “Portfolio” page
2. Scroll down to the “Your assets” section
3. Find the fiat balance you converted and select it
4. Return to the “Your assets” page
5. Click on the “Withdraw” tab
6. Input in the withdrawal amount 
7. Click on “Withdraw all”
8. Click on the “Withdraw” button to confirm the withdrawal
9. Choose the preferred payment option
10. Click “Continue”
11. Confirm or edit your transaction details
12. Click “Withdraw now”

After you click “Withdraw now”, the transaction will process and you may be charged a fee, depending on the currency you chose to cash out. 

It’s important to note, also, that the payment options include SEPA, bank account transfers, PayPal account transfers, wire transfers, or credit or debit cards.

Be aware that this will only work if you have connected the chosen payment method beforehand. To learn more about adding a payment method to your Coinbase account, read on.

How to Add a Payment Method to Coinbase

Adding a payment method to Coinbase is pretty easy. All you have to do is: 

1. Click on your profile picture at the top-right of the screen
2. Navigate to your “Settings” in the dropdown menu
3. Go to the “Payment Methods” tab
4. Click the “Link a New Account” button

After you click the “Link a New Account” button, a dialogue box will pop up on your screen, showing you which payment methods are available. Pick your preferred payment method from the available options and follow the instructions given in the dialogue box.

The most common methods will include the ability to add a:

• Bank account
• PayPal account
• Credit/ Debit card

The availability of some options may be limited by your location. For instance, a PayPal account may only be added in regions where PayPal is available. Similarly, your bank account and your credit or debit card may have restrictions.

Please note that the payment methods available to you will depend on your location.

To finalize the addition of the payment method, Coinbase will require you to verify the account and may charge a small fee. Once verified, the new account will be included in the payment options list and you can use it to withdraw funds in the future.

How to Withdraw Crypto from Coinbase

Withdrawing crypto from Coinbase is a process that can be done in a few simple steps. Here is how you do it:

1. Click the “Buy/Sell” button at the top-right of the page
2. Trade for or buy the crypto you want to withdraw
3. Navigate to the “Send/Receive” page
4. Input the amount and asset you to withdraw in the dialogue box
5. Add an email address in the “Address” field (free); or
6. Add  a crypto address in the “Address” field (will have fees)
7. Choose the asset you wish to withdraw
8. Click on “Continue” and 
9. Confirm or edit your transaction details
10. Click “Withdraw now”

After you finalize the transaction, your withdrawn crypto funds will reach your account sometime between a few minutes or a few days, based on the asset and network you chose. 

How to Withdraw Funds from Coinbase Pro

Coinbase offers a premium alternative called Coinbase Pro. While the two versions of the crypto trading platform differ in a few key ways, the withdrawal process on the two platforms is very similar.

To withdraw from Coinbase Pro, you can either withdraw as a fiat currency (as explained above) or send the money to an external wallet using the following steps:

1. Navigate to the “Portfolios” page
2. Click on “Withdraw” 
3. Select which asset you wish to transfer in the dialogue box
4. Choose to transfer to “Coinbase.com”
5. Enter the amount you want to send
6. Enter the other withdrawal details 
7. Click on “Withdraw”

Once your funds arrive in your Coinbase.com account, follow the instructions outlined in the “How to Withdraw Funds from Coinbase” section above to move funds to your PayPal account, bank account, or another account.

How to Withdraw Crypto from Coinbase Pro

To withdraw cryptocurrency from Coinbase Pro, follow these steps:

1. Navigate to the “Trade” page
2. Click the “Withdraw” button 
3. Select the asset to withdraw in the dialogue box
4. Choose to transfer to “Crypto Address”
5. Input the crypto address to transfer the funds to
6. Input the amount to be transferred
7. Review the network fees and confirmations
8. Click ‘Withdraw’ to complete the transaction

After you finalize the transaction, your withdrawn crypto funds will reach your account sometime between a few minutes or a few days, based on the asset and network you chose. 

Coinbase Crypto Withdrawal Fees

Fees for withdrawals vary by crypto type. As of this writing, these are the current Coinbase fees for crypto withdrawals by type:

Why Can’t I Withdraw from Coinbase?

If you are unable to sell or withdraw from Coinbase, it could be due to one of a few reasons:

• There are restrictions in your region
• You are a new account holder
• You haven’t completed the verification
• You have recently made a purchase with a credit card
• Your account has been flagged for fraud

Depending on which of the above reasons you are unable to withdraw from your Coinbase account, your solution will vary.

Read More About Crypto

• How to Make Money with Cryptocurrency
• How to Withdraw from Binance
• How to Transfer From Coinbase to Coinbase Pro
• How to Transfer from Coinbase to Binance
• How Does Cryptocurrency Gain Value?

Withdrawing from Coinbase Next Steps

There are plenty of reasons to transfer from Coinbase. Maybe you need a cash flow infusion. Maybe you’re interested in diversifying your crypto portfolio. Or maybe you want to check out a Coinbase competitor like Binance. Whatever your reasons, the guides above will help you reach those goals. Just follow the simple steps and you’ll be transferring from your Coinbase account in no time!

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Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.