Each exchange has a slightly different process for selling your cryptocurrency and cashing out. Here is the process for several top exchanges.
How to Cash Out Bitcoin on Coinbase
At Coinbase (or Coinbase Pro), start by selling your crypto for U.S. dollars. This is the process:
- You do this by clicking on the “Buy/Sell” button on your web browser or the Coinbase mobile app.
- Next select the sell option and set the amount you want to sell.
- Then click the button to preview your sale and the final “sell now” button to confirm.
There may be a short processing time to complete your transaction before you can withdraw. Also, if you made deposits recently, there may be a holding period for your deposit to clear before you can withdraw.
When your funds are eligible to withdraw, open your USD wallet to initiate the withdrawal. Transfers to your bank account via ACH (electronic funds transfer) are free with Coinbase.