The crypto market is very volatile. Since Bitcoin launched in 2009, we’ve seen crazy bull runs and bear runs. At certain times, crypto has made millionaires, while at other times, it has wiped out the life savings of millions.
Unsurprisingly, investors are wary of where the market is headed and want to take action to save their investments. If your assets are stored in Coinbase, it’s good to know how easy or difficult it is to access your investment during wild market trends.
Why do you want to spend money on Coinbase?
In addition to volatility, the collapse of several cryptocurrency companies in 2022 has brought uncertainty to crypto users. For example, the $32 billion FTX crash sent shockwaves through the crypto world.
It is now clear that any crypto juggernaut can disappear overnight, which is not very encouraging for crypto users and investors.
Coinbase is considered one of the best cryptocurrency exchange platforms, often second only to Binance in terms of daily trading volume. It has implemented a number of features to ensure that customers’ assets are protected and easily moved when needed.
However, if Coinbase is in trouble and you need your money, or if you find yourself in a bear market and can’t hold your breath, now is the time to log into your Coinbase account and cash out.
How to withdraw money on Coinbase
To withdraw money with Coinbase, you must first convert your crypto assets to fiat. This can be done by selling the tokens or directly using cash. Withdraw money Behavior. However, if you find Cash out grayed out, you can sell your crypto instead.
From a web browser
- Log in to your Coinbase account.
- Click on Buy and sell
- Choose sell In the pop-up form, select the cryptocurrency you want to convert and enter the amount you want to receive in fiat currency.
Click on Preview Sale. If you haven’t included any payment method, you need to add it.
- In the Order Preview section, click Sell it now To start the transaction.
Coinbase processes your transaction and sends your funds to your payment gateway in no time. Click Done to withdraw your funds from Coinbase to your bank account.
From the Coinbase mobile app
- Launch the Coinbase app, click on the nine-dot icon at the top left, select sellAnd choose the property you want to sell, so you can withdraw money.
- Enter the amount you want to receive, tap Assessment orderAnd after confirming the business, click place order.
Likewise, Coinbase processes the transaction and deposits your funds into your bank account.
How long does it take to receive funds from Coinbase?
The time it takes to withdraw funds from Coinbase depends on your location. US-based customers can expect their funds within 1-5 business days after initiating the transaction. European customers will receive their funds within 1-2 days, while Canadian customers can receive them instantly using PayPal and transfer them to their bank accounts.
Why can’t you log out of Coinbase?
As mentioned earlier, sometimes you will find the Cash Out feature greyed out. Coinbase disables cashout for security reasons. You cannot use the feature to send money to your local currency.
It may be due to a set retention period, or the feature may not be available in your area. At this point, you can use the sell feature to directly sell your crypto assets and deposit your funds into your bank account.
Also, depending on your region and account type, there is a limit on the value of crypto assets you can exchange in fiat currency.
Should you store your Crypto on Coinbase?
Coinbase has invested in making the platform easy to use for both novice and experienced traders. Cashing out your crypto assets is especially important for crypto traders who depend on it for their livelihood. As such, when the crypto market starts to show signs of a crash, you can be sure that you will be able to access your Coinbase assets if needed.