As the popularity of cryptocurrency continues to surge globally, many investors and casual users often encounter a pressing need: how to withdraw funds from Coinbase Wallet directly to a bank account. While Coinbase Wallet offers robust decentralized storage for crypto assets, the cash-out process requires a few extra steps compared to centralized exchanges. In this comprehensive guide, we walk you through each detail of the process—from linking your Coinbase account to converting crypto and transferring it to your bank.

Understanding the Difference between Coinbase Wallet and Coinbase Exchange

Before initiating a cash-out, it's essential to differentiate between Coinbase Wallet and Coinbase Exchange:

•          Coinbase Wallet is a self-custody wallet where users control their private keys and have complete ownership of their assets.

•          Coinbase Exchange (coinbase.com) is a centralized platform where users can buy, sell, and convert cryptocurrencies directly.

To cash out funds to a bank, you must first transfer assets from Coinbase Wallet to Coinbase Exchange, and from there, complete the withdrawal process.

Step-by-Step Guide: How to Cash out from Coinbase Wallet to Bank Account?

Step 1: Link Your Coinbase Wallet to Coinbase Exchange

To begin the process:

1.        Log in to your Coinbase account at coinbase.com.

2.        Open your Coinbase Wallet mobile app or browser extension.

3.        Select the asset you want to transfer.

4.        Tap “Send”.

5.        In the recipient field, enter your Coinbase account wallet address (make sure it's for the same asset you’re sending).

6.        Confirm the transaction and wait for network confirmations.

⚠️ Important: Ensure you're copying the correct wallet address for the asset you're sending (e.g., don't send ETH to a BTC wallet).

Step 2: Convert Cryptocurrency to Fiat Currency on Coinbase Exchange

Once the crypto is received in your Coinbase account:

1.        Navigate to the "Assets" tab in your Coinbase dashboard.

2.        Select the asset you just transferred (e.g., Ethereum, Bitcoin).

3.        Click on “Trade” or “Sell”.

4.        Choose the fiat currency you wish to receive (USD, EUR, GBP, etc.).

5.        Enter the amount you wish to sell.

6.        Confirm the trade. The funds will now reflect in your fiat wallet balance on Coinbase.

Step 3: Add and Verify Your Bank Account

To withdraw the converted fiat:

1.        Go to “Settings” > “Payment Methods” in your Coinbase account.

2.        Click “Add a Payment Method”.

3.        Choose Bank Account and enter your bank details.

4.        Depending on your country, Coinbase will verify your account through a micro-deposit method or Plaid integration.

5.        Once verified, your bank account will be ready for withdrawals.

Step 4: Withdraw Funds from Coinbase to Your Bank Account

After verifying your bank account:

1.        Visit the “Assets” tab.

2.        Select your fiat balance (e.g., USD Wallet).

3.        Click “Cash Out” or “Withdraw”.

4.        Enter the amount and select your linked bank account.

5.        Confirm the withdrawal.