Here’s a step by step guide on how to sell cryptocurrency from your Coinbase wallet .
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In order to sell digital currency, you will need to have a balance of the currency in your Coinbase account. Selling is instant, and funds are immediately transferred to your linked PayPal or bank account. You can also choose to keep your funds on Coinbase (we call this storing your coins on Coinbase).
If you are selling Bitcoin, Ethereum, Litecoin or Bitcoin Cash, you will need to have a balance of the currency in your Coinbase account before you can proceed with selling. If you have not already done so, please follow these instructions on how to buy digital currency.
If you are selling any other digital currency, such as Ethereum Classic or Zcash, please read this article for more information.
What is Coinbase?
Coinbase is one of the most popular cryptocurrency exchanges, allowing users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more. Coinbase also allows users to store their cryptocurrencies in a wallet on the Coinbase platform. In order to sell your cryptocurrencies from your Coinbase wallet, you will first need to link a bank account to your Coinbase account. Once your bank account is linked, you can then transfer your cryptocurrencies from your Coinbase wallet to your bank account.
How to Sell Crypto on Coinbase
Step One: Choose the Wallet You Wish to Sell From
The first thing you need to do in order to sell your crypto on Coinbase is to choose the wallet you wish to sell from. To do this, log into your Coinbase account and click on “Sell” from the top menu bar.
Once you’re on the Sell page, you’ll see a drop-down menu near the top that says “Choose Wallet.” Click on this and select the wallet you wish to sell from.
If you only have one wallet in your account, this menu will not appear and your funds will automatically be taken from that wallet.
Step Two: Enter the Amount You Wish to Sell
Once you’ve chosen the wallet you wish to sell from, it’s time to enter the amount of crypto you wish to sell.
You can either enter a specific amount of crypto or a fiat currency amount (such as USD). If you enter a fiat currency amount, Coinbase will automatically convert it into the equivalent amount of crypto.
Step Three: Choose Where You Wish to Send Your Sale Proceeds
With your sale amount entered, it’s now time to choose where you want your sale proceeds to go. This could be another cryptocurrency wallet (such as a Hardware Wallet) or a bank account.
Step Two: Enter the Amount You Wish to Sell
In order to sell crypto on Coinbase, you will first need to add a payment method. To do this, click on the “Add Payment Method” link on the right side of the page.
Once you have added a payment method, you will be able to enter the amount of crypto you wish to sell in the “Sell Crypto” field. Enter the amount of crypto you wish to sell and click “Sell.”
You will then be prompted to confirm your sale. Once you have confirmed your sale, your crypto will be sold and the proceeds will be deposited into your chosen payment method.
Step Three: Choose the Bank Account You Wish to Sell To
The next step is to select the bank account you wish to sell your cryptocurrency to. In the case of USD, you will have the option of selecting between a US-based bank account or a PayPal account. If you choose to sell via PayPal, keep in mind that you will be charged a variable transaction fee depending on the amount being sold as well as a flat fee of $0.99. For bank transfers, there is a 1.49% fee charged on the total transaction.
Once you have selected your preferred payment method, you will be asked to enter the amount of cryptocurrency you wish to sell as well as the wallet where it is currently stored. After confirming this information, Coinbase will provide an estimated price in USD that your sale will generate based on the current market value of the cryptocurrency being sold.
As a conclusion, if you are looking to sell your crypto from your Coinbase wallet, you have a few options. You can either sell directly to a friend or family member, use a Coinbase account to convert your crypto to cash, or use a Coinbase account to sell your crypto on an exchange. Each option has its own advantages and disadvantages, so be sure to consider all of your options before making a decision.