To cash out to bank account on Coinbase, you need to make a sale of your crypto.
Then, you will be able to send the cash to your bank account.
Steps to Cash Out to Bank Account on Coinbase
1. Sign in to Coinbase
Visit Coinbase and get logged in.
Make sure you have your crypto asset in your Coinbase account.
In case you have your crypto assets in any crypto wallet, you need to transfer them to Coinbase.
Refer our guides if you want to:
- Transfer ETH from MetaMask to Coinbase.
- Transfer MATIC from MetaMask to Coinbase.
- Transfer AVAX from MetaMask to Coinbase.
- Transfer SHIB from MetaMask to Coinbase.
- Transfer DAI from MetaMask to Coinbase.
- Transfer crypto from Trust Wallet to Coinbase.
- Send Solana from Phantom to Coinbase.
2. Click Buy/ Sell
Once you have signed in to Coinbase, you will be able to see Buy/ Sell button in the upper right corner.
Click on it.
Then, navigate to the Sell tab.
3. Select the Crypto to Sell
Now, you need to select the cryptocurrency that you wish to sell and cash out.
Select the crypto in the Sell field.
Then, enter the amount of that crypto. Use the Sell all button if you want to.
In our case, we are selling Ethereum to cash out.
Lastly, click Sell Ethereum.
4. Review the Order
Next, there will be an Order preview window.
It contains your order details and Coinbase fee.
Review it and click Sell now.
Within a couple of seconds, your order will be executed.
Coinbase charges around 1.5% to convert crypto to cash.
5. Cash Out Funds
Upon successful completion of sell, you will be able to see two options: View transaction and Cash out funds.
Click on Cash out funds.
This will take you to your fiat currency balance area.
Enter the amount to withdraw in the Cash out section.
Click Continue.
Now, you need to select the destination.
Click on the bank account you have already added.
If you have not added any bank account or you want to withdraw to another bank account, you need to click on Add a debit card or Add a bank account.
Then, click Continue.
Now, review the cash-out preview and click Cash out.
Conclusion
Converting crypto to cash in Coinbase is a pretty straightforward process.
You need to make a sale and then you can send the fiat money to your bank account.
Coinbase charges 1.5% for instant cash out to a bank account/ card. And, the minimum fee is $0.55.
For more information such as eligibility and limits on instant cash out, check this article.