Want to withdraw Bitcoin from Coinbase.com? In this beginners guide I explain how to withdraw your digital assets like Bitcoin or Ethereum from Coinbase to the safety of a secure wallets such as a Ledger or a Trezor or an exchange like Binance.
What is Coinbase?
Coinbase is a cryptocurrency exchange founded in 2012 in the US. The exchange is very popular for users just starting out in the crypto, with its very simple and easy-to-use interface. That being said, it has been blasted by many traders for having high trading fees. However, these can be offset by using the Coinbase Pro platform instead of Coinbase itself. You can see our full review and tutorial of Coinbase Pro here.
How to Send Bitcoin from Coinbase
The process of sending crypto like Bitcoin or Ethereum to another wallet is a fairly easy on Coinbase. This step-by-step guide will break down the process for you, to send crypto from Coinbase to an external crypto address.
Step 1: Go to the Coinbase ‘Portfolio’ tab on the left hand side of the screen
Step 2: Click the ‘Send/Receive‘ button located in the top right-hand corner of your page.
Step 3: Click ‘Pay with‘ and select the digital assets you would like to send. This will then pre-populate.
Step 4: In the ‘To‘ field enter the Wallet Address if you’re sending to a cryptocurrency wallet or Email Address if you’re sending via email.
The majority of users will enter a crypto wallet address. Please make sure you are sending the right crypto to the right wallet. For example, if you are sending Bitcoin, this needs to be sent to a Bitcoin wallet address. If you send your crypto to the wrong address you do risk losing your funds.
Step 5: Enter the amount you would like to send in your local currency as shown in the $ field above. Alternatively, you can specify the amount in the crypto you will be sending. To change between crypto and local currency click the double arrows.
Step 6: Adding a note is optional
Step 7: Click ‘Continue’
Step 8: Next you will see a confirmation screen and cost of sending the transaction. Please double check the address before selection the ‘Send Now‘ button.
As I said the process is pretty simple, but if you’re unsure consider sending a small amount on a test transaction. This will cost more in network fees, but it might give you peace of mind.