Why Is Coinbase Not Letting Me Cash Out? Top Reasons & Solutions
If you are using Coinbase as your primary crypto exchange, then you might be aware of the variety of features it comes with. And, one of the most amazing features it comes with is the ability to let users cash out the available balance. However, sometimes, things may not go as smoothly as you want and you may start coming across various issues with this platform. And, one such issue among several others is the inability to cash out from a Coinbase account.
Therefore, through this post, I’ll be guiding you through the procedure to resolve the “Coinbase not letting me cash out” problem. Here, we shall first have a discussion on what could be the reasons behind this and then we’ll discuss the solutions that would help you with this.
Why does Coinbase says I have 0 to withdraw?
In case you are trying to withdraw from your Coinbase account and you are not able to do that, then you might probably have no balance in your account. However, if you believe that there are funds in your account or you have recently deposited them and you’re still not able to withdraw from your account, then this is really a problem to worry about. However, you should note that you may not be immediately able to withdraw funds if you have made a bank deposit to your account.
On the other hand, if you are seeing an error message stating that “your account doesn’t qualify to hold a cash balance Coinbase”, then this means that you would not be able to sell out any crypto from your Coinbase account in exchange for the fiat currency.
Why does Coinbase hold funds for so long?
In case you are not able to use (withdraw) the funds from your Coinbase account, then there is a possibility that Coinbase has seen you involved in some suspicious activities. On the other hand, all the Coinbase users may not be able to withdraw any crypto funds that have been purchased using a bank. This ultimately helps the Coinbase authorities to curb money laundering practices and other hacking activities. And, that is why you may be asking why is Coinbase not letting me cash out.
How to initiate Coinbase withdraw to bank account?
This procedure can be completed in two stages. At first, you need to sell your crypto for cash and then cash out the available balance to your bank account:
Stage 1- sell off your cryptos
- At first, you need to sign in to Coinbase
- Now, go to the “Buy/sell” tab
- And, then choose
- the crypto asset that you wish to sell
- Next up, enter the amount of crypto to be sold
- Click the “Sell now” option to complete the process
Stage 2- now, you can cash out your funds
- Go to the “Assets” tab of your Coinbase account
- Now, you need to click on the available balance
- On the tab that opens, select how much you wish to withdraw
- Click “Continue” and choose where you wish to send your funds
- Click “Continue” > “Cash out now“
In case you wish to undergo Coinbase withdraw to PayPal, then you can choose your PayPal account as the withdrawal destination.
What is the Coinbase cash out fee?
Well, if you want to cash out from your Coinbase account, then you may need to pay a fee for the same. In case you are undergoing an instant card withdrawal, then you need to pay up to 1.5% of the withdrawal amount or $0.55 whichever is greater.
Frequently Asked Questions
Why can’t I withdraw money from Coinbase?
If you are having trouble withdrawing money from your Coinbase account, then you should note that Coinbase would not let you cash out any money if you have recently deposited money or fiat currency using your bank account. Thus, if you feel the need, you can withdraw from Coinbase after some time has been passed.
How do I get my cash back out of Coinbase?
In case you wish to get your cash back out of your Coinbase account, then you need to go to the “Balance” section after signing in to your account. After this, you need to click on the available balance and then choose the amount for cashing out. Now, choose the cash-out destination and you’re done.
How long do you have to wait to cash out Coinbase?
In case you are cashing out directly from your Coinbase account, then the transaction would take place instantly. However, if you are cashing out through SEPA, then the transactions would take place within 1-2 business days. On the other hand, if you are cashing out via wire, then the transaction would complete in a single day.
Does Coinbase allow you to cash out?
In case you wish to cash out funds from your Coinbase account, then you need to first sell your cryptos for cash. After this, what you can do is cash out the available amount directly from the “Balance” section of your Coinbase account.
Conclusion
Through this article, we have tried to figure out the main reasons for Coinbase not letting me cash out and we have also discussed “Coinbase funds on hold how long.” After going through this read, you will be able to make sure that you are able to withdraw funds from your Coinbase account. However, if you undergo any suspicious activity from your Coinbase account, then you may not be able to withdraw any funds or cash out your money. So, make sure that you abide by the “Terms of Use” and do not undergo any kind of activities against its set rules.