31Jan, 2025
How to Cash Out from Coinbase Wallet (Sell Crypto to Cash)?

Coinbase Wallet is a non-custodial cryptocurrency wallet that allows users to store and manage digital assets securely. However, it does not directly support fiat withdrawals, making the cash-out process slightly more complex than with Coinbase Exchange. In this guide, we will walk you through the step-by-step process of converting your cryptocurrency to cash using Coinbase Wallet.

 

Can You Withdraw Directly from Coinbase Wallet?

Differences Between Coinbase Wallet and Coinbase Exchange

Many users confuse Coinbase Wallet with Coinbase Exchange. The key differences are:

  • Coinbase Wallet: A self-custodial wallet where users control their private keys and store crypto independently.
  • Coinbase Exchange: A centralized platform that facilitates crypto trading and allows fiat withdrawals.

Why You Need to Transfer Funds First

Since Coinbase Wallet does not support direct cash withdrawals, you must first transfer your crypto assets to a platform like Coinbase Exchange or another exchange that allows fiat withdrawals.

Step-by-Step Guide to Cashing Out from Coinbase Wallet

Step 1: Transfer Crypto from Coinbase Wallet to Coinbase Exchange

  1. Open Coinbase Wallet and navigate to the Send option.
  2. Select the cryptocurrency you wish to cash out.
  3. Enter your Coinbase Exchange wallet address as the recipient.
  4. Confirm the transaction and pay any applicable network fees.

Step 2: Sell Cryptocurrency for Fiat Currency

  1. Log in to Coinbase Exchange.
  2. Navigate to the Trade section.
  3. Select the crypto asset you transferred.
  4. Choose the Sell option and select your preferred fiat currency (USD, EUR, etc.).
  5. Confirm the sale and convert your crypto into cash.

Step 3: Withdraw Cash to Your Bank or PayPal

  1. Go to the Portfolio section in Coinbase Exchange.
  2. Click on Withdraw and choose your withdrawal method:
    • Bank Transfer: 1-3 business days.
    • PayPal: Instant withdrawals (subject to availability).
    • Debit Card: Immediate access to funds.
  3. Enter your withdrawal amount and confirm the transaction.

Coinbase Wallet Cash-Out Fees & Transaction Times

Understanding Fees Associated with Withdrawals

When cashing out, you may incur the following fees:

  • Network fees: Paid when transferring crypto from Coinbase Wallet to Coinbase Exchange.
  • Trading fees: Applied when selling crypto for fiat on Coinbase Exchange.
  • Withdrawal fees: Charged when withdrawing fiat to a bank or PayPal.

How Long Does It Take to Cash Out?

Withdrawal Method Estimated Time
Bank Transfer 1-3 business days
PayPal Instant (if supported)
Debit Card Instant

Alternative Methods to Cash Out from Coinbase Wallet

Sending Crypto to Other Exchanges for Better Withdrawal Rates

Some exchanges offer lower fees or faster processing times for fiat withdrawals. Examples include Binance, Kraken, and Gemini.

Using Third-Party P2P Platforms

Peer-to-peer (P2P) trading platforms like Binance P2P, Paxful, and LocalBitcoins allow you to sell crypto directly to buyers in exchange for cash or bank deposits.

Troubleshooting Common Cash-Out Issues

Why Can’t I Withdraw Money from Coinbase?

  • Ensure your identity is verified on Coinbase Exchange.
  • Check if the funds are available (some deposits may require hold times).
  • Confirm that your payment method supports withdrawals.

Coinbase Wallet Withdrawal Pending—What to Do?

  • Network congestion may cause delays—check blockchain explorers for transaction status.
  • If stuck for hours, contact Coinbase Support for assistance.

FAQs on Withdrawing Money from Coinbase Wallet

1. What Is the Minimum and Maximum Cash-Out Limit?

  • Limits vary by region and account type. Verified users typically have higher limits.

2. What Are the Best Payment Methods for Fast Withdrawals?

  • PayPal and debit cards offer the fastest withdrawal speeds.

3. Can I Withdraw Crypto from Coinbase Wallet to Another Wallet?

  • Yes, you can transfer assets to any external wallet using your recipient’s address.

4. Does Coinbase Charge for Withdrawals?

  • Yes, withdrawal fees vary by method and currency.

5. Can I Cash Out Without a Bank Account?

  • Yes, you can use PayPal or P2P platforms as alternatives.

6. What If My Withdrawal Is Rejected?

  • Ensure your payment details are correct and that you have sufficient funds.

Conclusion

Cashing out from Coinbase Wallet requires transferring your crypto assets to Coinbase Exchange or another platform that supports fiat withdrawals. By following this guide, you can efficiently convert your cryptocurrency into cash and withdraw it via bank transfer, PayPal, or debit card.