Key Takeaway:
- Coinbase withdrawal fees can vary depending on the type of transaction and currency being withdrawn. It is important for users to be aware of these fees and factor them in when planning their withdrawals from the platform.
- There are several factors that can affect the withdrawal fees on Coinbase, including network congestion, transaction size, and the type of cryptocurrency being withdrawn. Users should consider these factors and choose the most cost-effective option for their specific needs.
- Coinbase offers different withdrawal methods, such as bank transfers and cryptocurrency transfers, each with their own associated fees. Users should compare the fees and processing times of different withdrawal methods to make an informed decision.
Five Facts About Coinbase Withdrawal Fees:
- ✅ Coinbase Commerce is a cryptocurrency-only service, meaning you can’t link your bank account directly to your Commerce account. (Source: Team Research)
- ✅ You can withdraw any crypto you have directly to a linked Coinbase account and convert the crypto to cash. (Source: Team Research)
- ✅ There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. (Source: Team Research)
- ✅ Network fees associated with cryptocurrency withdrawals are paid by the sender and go to cryptocurrency miners, not Coinbase. (Source: Team Research)
- ✅ There are no maximum withdrawal limits on Coinbase Commerce—you can withdraw all funds at any point. (Source: Team Research)
FAQs about Coinbase Withdrawal Fees
How can I withdraw the funds that I’ve received?
To withdraw your funds, sign in to your Coinbase Commerce account and click on the **Withdraw** button next to the relevant cryptocurrency in the **Balances** section. A window will pop up and ask how much you would like to withdraw, and where you would like these funds to go. At this time, Coinbase Commerce is a cryptocurrency-only service, meaning you can’t link your bank account directly to your Commerce account. You can withdraw any crypto you have directly to a linked Coinbase account. From there, you can convert the crypto to cash and withdraw the funds to a linked bank account. If you don’t have a Coinbase account, please visit www.coinbase.com to sign up.
Why do I have to pay a network fee to withdraw?
There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network. The sender is responsible for paying network fees associated with the transaction; each blockchain has its own cryptocurrency that is used for network fees. For example, Bitcoin (BTC) and Ethereum (ETH) refer to the cryptocurrency and network that the crypto is built on. These fees go to cryptocurrency miners, not Coinbase, as an incentive to secure the network and include your transaction on the blockchain. There are a number of network-dependent factors that are used to calculate a withdrawal fee, making it difficult to predict these fees before attempting to withdraw. In general, these fees will be higher when more payments are received. These fees are not Coinbase fees, as they’re determined by the crypto network.
Is there a minimum amount that I have to withdraw?
Yes, but the minimum is small to ensure you always have access to your funds. These minimums fluctuate with exchange rates, but are generally under $0.10.
Is there a maximum amount that I can withdraw?
There are no maximum withdrawal limits on Coinbase Commerce—you can withdraw all funds at any point.
What are ERC-20 crypto withdrawals?
To send/withdraw ERC-20’s like USDC and DAI, ETH is required in order to cover Ethereum network fees (also referred to as gas fees). These fees go to network validators as an incentive to secure the network and include your transaction in a block.
How do I transfer ETH to pay network fees?
You can create a donation checkout in order to transfer ETH to your Commerce account to pay fees. For instructions on how to create a donation checkout, please view our donations help center article. A donation checkout allows you to send any amount of ETH without creating an overpayment or underpayment. You can also reuse the donation checkout anytime you need to add ETH to your account for network fees. The donations will appear in your transaction history report. Once you’ve established a donation payment flow for transferring yourself ETH: Copy the custom link that’s provided when you finish creating the checkout. Paste it into another window or tab and open the checkout. Select **Pay with Coinbase** to use a Coinbase account to send funds or select **Ethereum** to send ETH from an external wallet or exchange. Send the amount of ETH you determined will cover the transaction fees. Once your transaction is confirmed and the ETH is in your account, then you can complete a USDC and/or DAI withdrawal. Follow the instructions provided to withdraw your funds.
