How to Sell Crypto on Coinbase Wallet for Cash

Introduction

Coinbase is one of the most popular and trusted crypto exchanges in the world. It provides users with a secure platform to buy, sell, and store their digital assets, including cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. Coinbase also offers a wallet service that allows users to store and manage their crypto funds, as well as send and receive payments. In this article, we’ll discuss how to sell crypto on Coinbase wallet for cash.

Research the Coinbase Exchange and its Wallet

Before you start trading on Coinbase, it’s important to understand the fees and limits associated with selling crypto on the exchange. Coinbase charges a base fee of 1.49% for all transactions, plus additional fees depending on the payment method used. There are also limits on the amount of cryptocurrency you can sell per day, which depend on your account level.

It’s also important to understand how the Coinbase Exchange works. The exchange is a marketplace where buyers and sellers can come together to trade crypto. When you place a sell order, your order is matched with a buyer who is willing to pay the price you set. Once the order is filled, your funds will be transferred to your Coinbase wallet.

Create an Account and Connect to Your Bank Account

The first step to selling crypto on Coinbase wallet is to create an account. To do so, simply go to the Coinbase website and enter your name, email address, and password. You’ll then need to verify your identity by providing personal information such as your address and phone number.

Once you’ve created an account, you’ll need to link your bank account to your Coinbase wallet. This will allow you to easily transfer funds from your bank account to your Coinbase wallet when you want to buy or sell crypto. To link your bank account, simply follow the on-screen instructions and provide the required information.

Transfer Crypto into Your Coinbase Wallet

Next, you’ll need to transfer the crypto you want to sell into your Coinbase wallet. To do this, you’ll need to choose the type of cryptocurrency you want to sell and then transfer it from your external wallet to your Coinbase wallet. You can do this by entering the wallet address of your Coinbase wallet into your external wallet and then sending the desired amount of crypto to your Coinbase wallet.

Place a Sell Order on Coinbase

Once you’ve transferred the crypto into your Coinbase wallet, you’re ready to place a sell order. To do this, you’ll need to choose the currency you want to sell and the amount you want to sell. You’ll then need to set your price and review your order before submitting it. Once your order is submitted, it will be matched with a buyer and your funds will be transferred to your Coinbase wallet.

Withdraw Cash from Your Coinbase Wallet

Now that your order has been filled, you’re ready to withdraw the cash from your Coinbase wallet. To do this, you’ll need to select the payment method you want to use (e.g. bank transfer or PayPal) and enter the amount of money you wish to withdraw. Once you’ve submitted the request for withdrawal, the funds will be transferred to your chosen payment method.

Monitor Your Coinbase Transactions

Finally, it’s important to monitor your Coinbase transactions to make sure everything goes smoothly. To do this, you can check your balance to see how much money is in your Coinbase wallet, and view your transaction history to track your recent activity. This will help you stay on top of your finances and ensure that your transactions are successful.

Conclusion

Selling crypto on Coinbase wallet for cash is a straightforward process. By following the steps outlined in this article, you’ll be able to quickly and securely sell your crypto and withdraw the cash into your bank account. Just remember to research the fees and limits associated with selling on Coinbase, understand how the exchange works, connect your bank account to your Coinbase wallet, transfer your crypto into your Coinbase wallet, place a sell order, withdraw cash from your Coinbase wallet, and monitor your Coinbase transactions.