The cryptocurrency exchange Coinbase is one of the largest and most widely used platforms for buying and selling digital assets in the world. Millions of users rely on it to trade Bitcoin, Ethereum, and many other cryptocurrencies. However, when the time comes to convert crypto back into traditional money, many investors start asking the same question: how to send money from Coinbase to bank account?
The process of withdrawing funds from a crypto exchange is different from a traditional bank transfer. Cryptocurrencies operate on decentralized blockchain technology, and banks do not directly work with them. This means the first step is to sell your cryptocurrency and convert it into a fiat currency such as euros or dollars. Only then can the funds be transferred to a bank account.
Below is a clear explanation of how the entire process works.
How withdrawals from Coinbase work
Before sending money to your bank account, it is important to understand one basic principle. Cryptocurrencies cannot be transferred directly to a bank account because banks only accept traditional currencies such as euros, dollars, or other fiat money.
The first step is therefore to sell the cryptocurrency on Coinbase. Once the transaction is completed, the platform converts the funds into fiat currency and stores them in your exchange balance. After that, you can withdraw the money to your bank account.
Coinbase refers to this process as “Cash out” or “Withdraw.”
Read also: Coinbase Wallet Review: A Secure Crypto Wallet for Beginners and Advanced Investors
How to send money from Coinbase to bank account step by step
The entire process is relatively simple and can usually be completed within a few minutes.
1. Log in to your account
First, log in to the Coinbase mobile app or web interface. After logging in, open the Assets section where you can see all cryptocurrencies and fiat balances held in your account.
2. Sell your cryptocurrency
If you hold Bitcoin, Ethereum, or another digital asset, you need to sell it first.
In the app, select the cryptocurrency you want to sell and click the Sell option. Then enter the amount you want to convert into fiat currency.
After the transaction is completed, the funds will appear in your fiat balance, for example in euros.
3. Select the withdrawal option
Once you have fiat currency in your balance, you can proceed with the withdrawal.
Open the Cash balance or Assets section, select your fiat currency, and click Cash out or Withdraw.
4. Choose your bank account
Coinbase will ask you to choose the bank account where the money should be sent.
If you have not added a bank account yet, you will first need to link one by entering your bank details and completing a short verification process.
In Europe, most withdrawals are processed using SEPA bank transfers.
5. Confirm the transaction
Finally, enter the amount you want to withdraw and confirm the transaction.
Before the final confirmation, Coinbase will also display the transaction fee and the estimated transfer time.
Read also: Money making apps: How to do it?
How long a Coinbase transfer takes
The transfer time depends on the withdrawal method you choose.
The most common option in Europe is the SEPA bank transfer, which usually takes one to two business days. The advantage of this method is the very low fee, often only a few cents.
Some regions also allow faster withdrawals to debit cards or services such as PayPal. These methods can be almost instant, but they usually come with higher fees.
What to watch out for when withdrawing
When transferring money from Coinbase, there are several important things to keep in mind.
First, your account must be verified through the KYC (Know Your Customer) process. Without identity verification, most exchanges do not allow withdrawals to a bank account.
It is also important to check the currency used for the transfer. Coinbase mainly works with euros in Europe, so if your bank account uses a different currency, your bank may perform a currency conversion.
Finally, remember that withdrawing funds includes two steps: selling the cryptocurrency and transferring the fiat money to your bank account. Each step may involve a small fee.
Coinbase is one of the easiest exchanges for withdrawals
Compared with many other cryptocurrency platforms, Coinbase is considered one of the most beginner-friendly exchanges. Withdrawing money is relatively straightforward, and the entire process can be completed in just a few minutes.
For most investors, the rule is simple:
first sell the cryptocurrency, then use the “Cash out” function and send the funds to your bank account.
Once the transfer is confirmed, the money usually arrives in your bank account within a few business days.
