Many cryptocurrency traders have been familiar with Coinbase products for a long time. Until recently, the company had two main projects: the eponymous blockchain wallet and the GDAX cryptocurrency exchange. Relatively recently, the company launched the Coinbase Pro exchange, which has more advanced trading functionality that will be appreciated by advanced traders.
Here’s a quick guide to how to fund your Coinbase wallet. There is no commission on Coinbase through SEPA, but withdrawals cost € 0.15 and take 1 to 3 business days. From the USA, you can top up your account in dollars through the ACH system free of charge (up to 5 business days) or by regular transfer for $ 10.
The withdrawal will cost $ 25. How to withdraw money from Coinbase to a card directly? Unfortunately, it is impossible to withdraw them to the card (only through exchangers), but you can credit them to your account.
When buying cryptocurrency using a bank card, the commission on Coinbase will be 3.99%, and in the case of buying from a bank account – 1.49%. However, third-party cryptocurrency buying services using the Coinbase API may charge additional fees for transfers to Coinbase.
After the creation of the wallet, the transfer from Coinbase is not available. Transactions can be made only after the funds appear on the account. The system provides several options for how to withdraw money from Coinbase.
Coinbase internal transfer
Transfer between wallets of the system to the email address specified during user registration. To do this, you do not need to select the external address of the crypto wallet.
Also Read: A Guide How to Send Bitcoin from Coinbase
Transfer within Bitcoin, Litecoin, and Ethereum systems
To do this, you must specify the exact address of the recipient’s wallet.
Exchange for fiat money
The USA, Canada, Australia, EU, and Singapore residents can withdraw bitcoins from their accounts directly to bank cards or through PayPal. In this case, crypto coins will be automatically exchanged for the target currency following the current exchange rate. The commission for withdrawal and exchange differs depending on the type of wallet, country of residence, and currency.
Coinbase Benefits
- Two-factor security keeps your e-wallet safe. Confirmation via SMS or QR code will not allow attackers to steal funds even if the password is stolen.
- The speed of transactions within the service is higher, and the commission is not charged or lower.
- Coinbase wallet has all the features of a standard cryptocurrency wallet and complements them with the exchange for fiat.
- The presence of mobile applications for iOS and Android allows you to control your account and manage money without being tied to an office or computer.
- Funds in accounts are insured in case of system hacking and other unforeseen situations.
- To protect against hacker attacks, Coinbase keeps no more than 2% of users’ funds online. The rest of the coins are in offline storage.
- The presence of a referral program makes it possible to earn by attracting new users.
- The site does not conflict with the laws of the countries with which the work is supported.
Also Read: How Does Coinbase Work: a Step-by-step Guide on How to Start
Coinbase is a convenient platform for working with digital assets. Users have already been able to appreciate a number of its advantages: fast transactions, the information content of the resource, instant technical support assistance, convenient applications, stability, and security of the site. It is worth noting the availability of licenses, which make a cooperation with the exchange more reliable.