Withdrawing profits from Coinbase?

[JamesDaniel90]

Bull run is heating up and I want to have a plan in place for when it comes to selling and withdrawing profits back to my bank later this year.

I mainly use Coinbase and I haven't cashed out any profits up till now so want to be prepared.

Is there a way of paying less fees when withdrawing?

[Lucius]

You show an incredible inability to completely ignore your previous questions and all the answers and start all over again. Before something comes to your mind, go through your post history and I'm pretty sure you'll find answers, because the chances are very high that you've already asked the same or similar question.

I have already written to you many times that every service has its price, and you are not at all special to be able to get more favorable fees when it comes to selling/buying or withdrawing fiat to your bank account.

[JamesDaniel90]

You show an incredible inability to completely ignore your previous questions and all the answers and start all over again. Before something comes to your mind, go through your post history and I'm pretty sure you'll find answers, because the chances are very high that you've already asked the same or similar question.

I have already written to you many times that every service has its price, and you are not at all special to be able to get more favorable fees when it comes to selling/buying or withdrawing fiat to your bank account.

I haven't asked about Coinbase withdrawal fees before 

[Mia Chloe]

Coinbase is a centralized exchange so they indirectly control the amount of fees you pay when you try moving your coins or swapping them to other altcoins or even fiat. The fees are most times high because of the charges they bill you when you move your coins. Plus most of these big exchanges have mining pools so they can use low fees to move the coins for you bill you a high fee and confirm the transaction on the network via their nodes. And since they are in control of the coins you can't alter any of these strategies.

Now withdrawing profits from your Bitcoins this early already classes you as a short term holder. Now let's say for example you had about 0.1 Bitcoins before this recent price increase . 0.1 Bitcoin before the recent value increase was worth about 4000-4200 in dollars. Now following the current increase in price of Bitcoin, you should have about 5000 -5100 in dollars which is a profit of about $1000. If you should compare this to someone who had that same amount of Bitcoins about a few years back when Bitcoin was about $22k he would have made a profit of over $2800.

When it comes to Bitcoin, long term hodling is more profitable compared to hodling for short term except you are of course a whale  

PS ; If you wish to hodl some Bitcoins please do well to avoid using an exchange because the have total control of your assets.
If you wish to hodl set up a cold wallet and keep your keys safe mate.

[Oshosondy]

If you want to withdraw your coins to put on a noncustodial wallet, that is good. Use cold wallet for huge amount. If you want to withdraw to sell your coins I think it is too early.

Is there a way of paying less fees when withdrawing?

Coinbase is a centralized platform. The fee is based on what Coinbase put on there. There is no way that you can pay less fee if you want to withdraw your bitcoin.

[JamesDaniel90]

If you want to withdraw your coins to put on a noncustodial wallet, that is good. Use cold wallet for huge amount. If you want to withdraw to sell your coins I think it is too early.

Is there a way of paying less fees when withdrawing?

Coinbase is a centralized platform. The fee is based on what Coinbase put on there. There is no way that you can pay less fee if you want to withdraw your bitcoin.

I am not planning on withdrawing yet , not for another few months at least until the halving.

I just want to be prepared.

[sokani]

Bull run is heating up and I want to have a plan in place for when it comes to selling and withdrawing profits back to my bank later this year.

I mainly use Coinbase and I haven't cashed out any profits up till now so want to be prepared.

Is there a way of paying less fees when withdrawing?

I guess you're a day to day and it's good to know that you're thinking of withdrawing your profits from coinbase exchange because it's not good to have your funds on a CEX.

Coinbase exchange has a fixed withdrawal fees for all digital assets. If the coin you've on Coinbase is Bitcoin and you wish to hodl bitcoin on your wallet, then the withdrawal fee is unavoidable but if you want to sell your Bitcoin immediately to fiat, then you can convert it to TRX, the withdrawal fee is cheaper. Withdraw and trade with a buyer for cash via P2P.

[JamesDaniel90]

Just to confirm , I do not hold any Bitcoin currently I am all in altcoins.

I know that many don't like that but my portfolio is up over 50% currently so not doing too bad.

I plan to make decent profits this bull run with my altcoins and then convert a lot of it into Bitcoin to hold till 2030 at least.

[Shishir99]

Just to confirm , I do not hold any Bitcoin currently I am all in altcoins.

I know that many don't like that but my portfolio is up over 50% currently so not doing too bad.

I plan to make decent profits this bull run with my altcoins and then convert a lot of it into Bitcoin to hold till 2030 at least.

Why don't you move them to your non-custodial wallet like unstoppable or Trust wallet? Holding your coins in a centralized exchange is never advised. I do not ask you not to use the exchange. You can use it to sell your altcoins or exchange it. But, I don't understand why are you using the centralized exchange to hold your altcoins. We have seen a lot of cases where coinbase users reported that coinbase closed their account and their support did not respond to their queries. I wish that does not happens to you. But, what if something like this happen with your account?

[JamesDaniel90]

Just to confirm , I do not hold any Bitcoin currently I am all in altcoins.

I know that many don't like that but my portfolio is up over 50% currently so not doing too bad.

I plan to make decent profits this bull run with my altcoins and then convert a lot of it into Bitcoin to hold till 2030 at least.

Why don't you move them to your non-custodial wallet like unstoppable or Trust wallet? Holding your coins in a centralized exchange is never advised. I do not ask you not to use the exchange. You can use it to sell your altcoins or exchange it. But, I don't understand why are you using the centralized exchange to hold your altcoins. We have seen a lot of cases where coinbase users reported that coinbase closed their account and their support did not respond to their queries. I wish that does not happens to you. But, what if something like this happen with your account?

I do have some of my holdings on a cold wallet but I have some on Coinbase too.

It costs every time I send my crypto to and from my cold wallet so trying to limit that and Coinbase is the safest exchange.

[BitMaxz]

I do have some of my holdings on a cold wallet but I have some on Coinbase too.

It costs every time I send my crypto to and from my cold wallet so trying to limit that and Coinbase is the safest exchange.

How are you sure that this is the safest exchange I have an account on Coinbase they locked my account and forced me to verify KYC even though I provided my documents according to them they are not offering any service in my country and my funds are locked and can't able to withdraw but I'm fine it's just a small amount the bad thing that I did is I submitted my documents even I already warned by some friends.

Maybe it is safe for those who live in supported countries but not safe for people outside of these countries.

Just always remember that if you don't have full control of your coins/holdings if this exchange suddenly hacked or down you don't have any chance to recover all of your holdings. Like others said "Not your keys, Not your coins"

[Lucius]

I haven't asked about Coinbase withdrawal fees before 

You asked about some other things when it comes to that CEX, and considering all the answers you got and that every exchange has a FAQ, by now you should already be someone who helps others, and you seem like someone who just yesterday heard that cryptocurrencies exist...

Congratulations, you have officially joined the jerry0 club!

[BABY SHOES]

I plan to make decent profits this bull run with my altcoins and then convert a lot of it into Bitcoin to hold till 2030 at least.

Withdrawal fees are almost normal on almost all exchanges but I found the answer to withdrawing BTC from Coinbase 0.0003 BTC is equivalent to $15 at current prices, so when you have already made a profit of 50% of your portfolio then it is not a problem not to spend $15 just for the long term too?

So you now prefer altcoins as profit and then will buy bitcoin when bearish comes? Is that so? I'm not sure the bearish now will be as low as before.

[JamesDaniel90]

I haven't asked about Coinbase withdrawal fees before 

You asked about some other things when it comes to that CEX, and considering all the answers you got and that every exchange has a FAQ, by now you should already be someone who helps others, and you seem like someone who just yesterday heard that cryptocurrencies exist...

Congratulations, you have officially joined the jerry0 club!

You need to chill out and not let the smallest things bother you 

[alastantiger]

Is there a way of paying less fees when withdrawing?

I think an option is the bank transfer. It has zero withdrawal fee.  However, it is only available to only those in the United States and to have the zero fee option, you will have to be patient for some days about 3- 5days.

Withdrawing to a US Bank Account
Open the trading view

On the left-hand column under Wallet Balance, select Withdraw

In the Currency Type field, select USD

Select the ACH Bank Transfer tab

From the drop-down menu, select the verified bank account you’d like to withdraw to

Enter the USD amount (Select MAX to withdraw all your USD)

Select Withdraw USD to confirm your withdrawal

The ACH bank transfer system typically takes 3-5 business days to complete—which may be as many as 7-10 calendar days depending on weekends and holidays.
There is no fee for withdrawing via ACH.

*https://help.coinbase.com/en/exchange/trading-and-funding/funding-your-account-with-usd

[albon]

I am not a Coinbase user, but I know that it is a good exchange platform. However, neither Coinbase nor other CEX platforms are not the safest options for holding crypto in the long term. I agree with @alastantiger that withdrawal through Bank Transfers (ACH) for US customers is free of fees. If you are not from the United States, check the link he mentioned, and if you would like to withdraw USDC currency, it is free of fees across all networks supported on the platform, such as Ethereum, Polygon, Solana, and others. ^{[They bear and cover the fees for this stablecoin for their clients]}

I hope that you will be able to withdraw your profits smoothly without any problems that you may encounter, but you must learn from the recommendations and advice of others so that you do not regret it.

[Faisal2202]

Bull run is heating up and I want to have a plan in place for when it comes to selling and withdrawing profits back to my bank later this year.

I mainly use Coinbase and I haven't cashed out any profits up till now so want to be prepared.

Is there a way of paying less fees when withdrawing?

A plan to book the profit is a must in the bull run, because without one we might not be able to get the most benefit of it, but one thing is unsure here is that if you want to book your profit in the bull run then you can easily book them by trading, converting the tokens you want to sell into USDT or in any other stable currency. Once you will do that your profit will be booked and you can withdraw them anytime into fiat currency.

The point is you don't have to withdraw funds in order to book the profit, you just have to trade your coins in exchange of stable pegged currency. But if you want to withdraw your money, then p2p trading is not that fee consuming, I am not a user of Coinbase, but if you do p2p on Binance you see no fee there, but maybe you are charged by its that you are ok with the rates that other seller is offering. But if you want to withdraw funds from coinbase to another crypto wallet, then you have to pay fee and that's for sure.

[boyptc]

I just want to be prepared.

Then that's it, no matter what will be the fee then you have to prepare for it together with the tax that you're liable to pay.

I don't use Coinbase so, just going on through their website about the fees is where you'll mostly get the idea on how much you should be prepared for and with someone who's a regular user of it.

[Ojima-ojo]

Bull run is heating up and I want to have a plan in place for when it comes to selling and withdrawing profits back to my bank later this year.

I mainly use Coinbase and I haven't cashed out any profits up till now so want to be prepared.

Is there a way of paying less fees when withdrawing?

When you mentioned bull market i guess you are talking about the Bitcoin bull market and if that is the case since your bitcoins are held on Coinbase and as a centralized exchange, the coin base has p2p and that is the easiest way to sell your Bitcoin when the price reaches your target, because, at some point, fees are applicable when you want to trade your coins and if that ks your situation it then means that, the amount you pay in fees will be determined by the coin you are holding.


Withdrawing to your bank account will be very easy through p2p and if you holding Bitcoin just like I earlier said, you may not need a fee to trade them on the exchange,  and from the look of things you should have known better by now because this is not the first time you have asked the question before,  you may have to take a look back on your previous threads with similar questions to find answers from replies of other there.

[AirtelBuzz]

Is there a way of paying less fees when withdrawing?

Since Coinbase is a centralized exchange you won't be able to pay as arbitrary fees as you want to withdraw any coins from here. Since it is a centralized exchange, there is a fixed amount of fee set for withdrawing any coin, so you have to withdraw according to the fee given by them for any withdrawal. Let me take as an example suppose to withdraw your 600 dollar bitcoins from Coinbase exchange they charge a fixed fee of 20 dollars you want to withdraw bitcoins with less dollar fee but you can't even if you want to. So we should use wallets from which we can pay our convenient fees while withdrawing bitcoins.