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Step-by-Step Guide – Cash Out Ethereum on Coinbase Wallet

Step-by-Step Guide – Cash Out Ethereum on Coinbase Wallet

Step-by-Step Guide – Cash Out Ethereum on Coinbase Wallet

If you’re a crypto enthusiast and have invested in Ethereum, you may be wondering how to cash out your profits. One popular platform for buying, selling, and storing cryptocurrencies is Coinbase Wallet. In this step-by-step guide, we will walk you through the process of cashing out your Ethereum on Coinbase Wallet.

Step 1: Open Coinbase Wallet

To get started, open the Coinbase Wallet app on your device. If you don’t have the app installed, you can download it from the App Store or Google Play Store. Once you have the app open, you will need to log in or create a new account if you don’t already have one.

Step 2: Connect Your Bank Account

Before you can cash out your Ethereum, you will need to connect your bank account to your Coinbase Wallet. This will allow you to transfer funds from your Coinbase Wallet to your bank account. To connect your bank account, navigate to the “Settings” section of the app and select “Bank Accounts.” Follow the instructions to link your bank account.

Step 3: Sell Your Ethereum

Now that your bank account is connected, you’re ready to sell your Ethereum. To do this, navigate to the “Portfolio” section of the app and select your Ethereum holdings. Then, choose the option to sell your Ethereum. You will be prompted to enter the amount of Ethereum you want to sell and verify the transaction.

Step 4: Confirm and Withdraw

After you have entered the amount of Ethereum you want to sell, confirm the transaction. Once the transaction is confirmed, the funds will be withdrawn from your Coinbase Wallet and transferred to your connected bank account. The processing time may vary depending on your bank, so be patient.

Step 5: Check Your Bank Account

After the withdrawal is complete, check your bank account to ensure that the funds have been successfully deposited. If everything goes smoothly, you should see the funds from your Ethereum sale in your bank account.

Note: It’s important to keep in mind that cryptocurrency prices are volatile, and the value of your Ethereum may change between the time of sale and withdrawal.

Cashing out your Ethereum on Coinbase Wallet is a straightforward process that can be completed in just a few steps. By following this step-by-step guide, you can easily transfer your Ethereum profits to your bank account. Happy cashing out!

Step 1: Create an Account on Coinbase

Before you can cash out your Ethereum on Coinbase, you first need to create an account. Here’s a step-by-step guide on how to do it:

1. Visit the Coinbase website

To get started, go to the Coinbase website (www.coinbase.com) on your web browser.

2. Sign up for an account

Once you’re on the Coinbase homepage, look for the “Sign up” button and click on it. This will take you to the account creation page.

3. Provide your personal information

3. Provide your personal information

On the account creation page, you’ll need to provide some personal information, such as your name, email address, and password. Make sure to choose a strong password to protect your account.

4. Verify your email address

After entering your personal information, Coinbase will send a verification email to the email address you provided. Go to your email inbox, find the verification email, and click on the link to verify your email address.

5. Set up two-factor authentication (optional)

For added security, Coinbase offers the option to set up two-factor authentication (2FA) for your account. This requires you to enter a unique code in addition to your password every time you log in. You can choose to set up 2FA now or skip this step and set it up later.

6. Complete your account setup

Once you’ve verified your email address and set up optional 2FA, you’ll be taken to the Coinbase dashboard. Here, you can proceed to link your bank account and deposit funds to start trading Ethereum.

By following these steps, you’ll be on your way to creating an account on Coinbase and preparing to cash out your Ethereum.

Step 2: Add Ethereum to Your Coinbase Wallet

Once you have set up your Coinbase Wallet account and have logged in, you will need to add Ethereum to your wallet in order to cash out. Here are the steps to add Ethereum to your Coinbase Wallet:

1. On the Coinbase Wallet homepage, click on the “Accounts” tab at the bottom of the screen.
2. Scroll through your list of accounts and locate the “Ethereum” account.
3. Click on the “Receive” button next to the Ethereum account. This will bring up your Ethereum wallet address.
4. Copy the wallet address by either manually selecting it and pressing Ctrl+C (or Command+C on a Mac), or by clicking on the copy icon next to the address.
5. Next, open the exchange or wallet where your Ethereum is currently stored.
6. Initiate a transfer or withdrawal from your current wallet or exchange using the Ethereum wallet address you copied from your Coinbase Wallet.
7. Double-check that you have entered the correct wallet address to prevent any loss of funds.
8. Follow the prompts and confirm the transaction to transfer your Ethereum to your Coinbase Wallet.
9. Once the transfer is complete, you will see the Ethereum reflected in your Coinbase Wallet under the “Ethereum” account.

Adding Ethereum to your Coinbase Wallet is an essential step before cashing out. It ensures that your Ethereum holdings are securely stored and accessible for the next steps in the cashing out process.

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Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

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