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How to Sell & Withdraw from Coinbase (2021)

How to Sell & Withdraw from Coinbase (2021)

Coinbase is one of the most popular cryptocurrency exchanges in the world, and once you have bought your Bitcoin you may want to sell and withdraw from Coinbase to your bank or Paypal account. Alternatively, you may want to withdraw your crypto to a secure wallet, such as their Coinbase Wallet or a hardware wallet such as a Ledger or a Trezor.

In this tutorial, I show you how to sell and withdraw from Coinbase. I explain how to sell your Bitcoin or other cryptocurrencies. Then, how you withdraw your funds to your bank or PayPal account. I show you how to do this using two different methods, first using Coinbase and then using Coinbase Pro so that you can save on transaction fees.

How to Withdraw Bitcoin from Coinbase to a Wallet

If you have a Coinbase account and are currently holding Bitcoin or other cryptocurrencies in there, you may wish to lock in your current profits by withdrawing Bitcoin from Coinbase. Within Coinbase you can withdraw to your chosen FIAT currency. Withdrawing direct from the Coinbase site is a simple process, especially for newbies but it does incur fees for this convenience.

In the UK Coinbase only allows you to withdraw from your Coinbase FIAT wallet which will be in your chosen currency. I’m from the UK so I have a GBP wallet available and a EUR wallet for SEPA transactions. If you want to withdraw GBP to your UK bank you will need to complete an initial deposit of GBP from your bank account to Coinbase.

Before you can withdraw Bitcoin from Coinbase, the first thing you need to is sell your Bitcoin.

Step by Step Guide on How to withdraw Bitcoin to a Wallet

To be able to withdraw your cryptocurrency from Coinbase you will have to sell your Bitcoin

Click Trade from the dashboard.

Select the Sell tab

Enter the amount of Bitcoin you would like to sell or click “Sell all”

Selling Bitcoin with Coinbase.com

Select the Cryptocurrency you’d like to sell

Select the wallet.

If you preview your sell you will then see your Sell order along with any associated fees.

Preview Bitcoin Sell Coinbase

When the order has completed the funds will then appear in your GBP wallet.

How to Withdraw from Coinbase to UK Bank Account

From the Dashboard, click Wallets

Click Withdraw

If you have not already done, so you will need to link a bank account and deposit an amount of £2.00 to validate your account. Once the account to validated you can Withdraw after 5 days.

Select Your Bank Account from the dropdown.-

Coinbase Withdraw to a UK Bank Account

Enter the Amount you wish to withdraw or select withdraw all.

Click Continue

A confirmation of the withdrawal will then appear showing all information and associated bank fees.

Click Confirm

The amount will then transfer across to your UK bank account within the timeframe stated.

Coinbase Withdraw Confirmation

How to Withdraw from Coinbase to Paypal

To set up a Paypal account, click onto Settings under your profile picture in the top right.

Select Linked Accounts

Click Link a New Account

Link Paypal to Withdraw from Coinbase

Select PayPal

Enter your Paypal account details

Link Paypal Account in Coinbase

Your account will then be linked

To withdraw to Paypal, go to Accounts

Click Withdraw

Select Paypal from the “Withdraw To” dropdown menu

coinbase Paypal Withdrawals UK

Enter the amount you wish to Withdraw

Click Continue

A confirmation of the withdrawal will then appear.

Withdrawing Funds to Paypal UK Coinbase

Click Confirm and your funds will then be deposited into your Paypal account by the date stated.

This is a simple process to sell and withdraw your Bitcoin. However, I would recommend Withdrawing from Coinbase Pro where fees are significantly lower.

How to Delete a Coinbase Account

If you’ve sold your Bitcoin or withdraw your money to a bank account and no longer require your Coinbase account. Or if you’re worried about your personal data being shared and are ready to close your Coinbase account, below is a guide to deleting your Coinbase Account.

Delete Coinbase Account