Coinbase is one of the most popular and user-friendly cryptocurrency exchanges that allows users to buy, sell, and store cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. If you have some Bitcoin in your Coinbase account and want to sell it, this article will guide you through the entire process step by step.
Step 1: Sign in to your Coinbase account
To sell Bitcoin on Coinbase, you need to be a registered user with a verified account. If you haven’t signed up for Coinbase yet, you can create a new account by visiting the Coinbase website and following the registration process.
Once you have signed in to your Coinbase account, navigate to the “Accounts” tab located on the top menu bar. This will show you a list of all the cryptocurrencies you hold in your Coinbase wallet.
Step 2: Select the cryptocurrency you want to sell
From the list of cryptocurrencies in your Coinbase account, select the Bitcoin (BTC) wallet you want to sell from. Click on the “Sell” button located next to the BTC wallet.
Step 3: Enter the amount of Bitcoin you want to sell
After clicking on the “Sell” button, you will be directed to a page where you will be asked to enter the amount of Bitcoin you want to sell. You can either enter the amount in Bitcoin or in your local currency.
Coinbase will automatically show you the estimated amount of your sale, including the exchange rate and the fees involved.
Step 4: Review the transaction details
Before you proceed with the sale, review the transaction details carefully to make sure everything is correct. Check the amount of Bitcoin you are selling, the exchange rate, the fees, and the estimated amount you will receive in your local currency.
Also, make sure that you have selected the right payment method to receive your funds. You can choose to receive your funds in your Coinbase wallet, your bank account, or via PayPal.
Step 5: Confirm the sale
After reviewing the transaction details, click on the “Sell Bitcoin” button to confirm the sale. Coinbase will ask you to confirm the sale once again to prevent any accidental sales.
Once you confirm the sale, Coinbase will automatically process the transaction and send the funds to your selected payment method.
Step 6: Receive the funds
Depending on the payment method you have chosen, it may take a few minutes or a few days for you to receive your funds. If you have selected to receive your funds in your Coinbase wallet, the funds will be available in your wallet immediately.
If you have selected to receive your funds in your bank account, it may take up to 5 business days for the funds to reflect in your account.
Conclusion
Selling Bitcoin on Coinbase is a straightforward process that can be completed in just a few clicks. However, it’s essential to review the transaction details carefully to avoid any mistakes or errors.
Once you have sold your Bitcoin, you can either withdraw the funds to your bank account or use them to buy other cryptocurrencies on Coinbase. Happy selling!