The leading cryptocurrency exchange Coinbase is making headlines for all the wrong reasons lately. The Department of Justice (DOJ) charged two high-ranking officials and an ex-employee of Coinbase for insider trading. In addition, the exchange is facing a probe from the SEC over the listings of several crypto assets on its platform.
The SEC is examining Coinbase for listing assets that can be classified as unregistered securities. If that wasn’t enough, COIN shares fell 60% in the last three months sending signals that things aren’t alright. If you consider withdrawing cryptos from Coinbase and transferring it to a crypto wallet, this article details the step-by-step process.
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How to Withdraw & Transfer Cryptos From Coinbase to A Crypto Wallet
Make sure you hold and operate a crypto wallet address or create a new wallet if you wish to transfer your cryptos from Coinbase.
To withdraw cryptocurrency from your Coinbase account, users are required to click on the ‘Withdraw’ option. The ‘Withdraw’ option is in the right-hand corner and next to the cryptocurrency section listed in the ‘Balance’ category.
Once when you click on the ‘Withdraw’ option, a new window pops up asking how much funds you would like to transfer. Enter the desired amount for the transaction and the next page provides you the option to select the receiver address. The options include Wallet / Bank Account.
If you wish to transfer your cryptos to a crypto wallet, click on the option transfer to ‘Wallet’.
The next option asks you to key in your crypto wallet address. Copy and paste your crypto wallet address in the bar. Before clicking next, double-check the wallet address and confirm if it is correct. If yes, then click on next. Key in your authentication or facial recognition to complete the transfer process.
Also Read: How Many Crypto Exchanges Shut Down During the Bear Market in 2022?
Note: You will be charged a 1% fee from Coinbase on the total amount that you wish to transfer.