If you are new to the crypto world and on the Coinbase exchange, you probably want to know how long does a Coinbase transfer take? Knowing how long you need to wait until each transfer is done can make a huge difference in trading and investing. Here we will explain all about Coinbase transactions and their durations.
The duration of transfer on Coinbase depends on the type of transaction you made and the region you are located. To transfer funds from your Coinbase account to a bank account usually takes around 1-5 business days, while purchase or deposit takes around 3-5 business days.
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This only applies to US customers, as the rules are a bit different for people from other regions. Keep reading and find out how long a Coinbase transfer takes.
One of the first things you will need to do in order to begin trading on Coinbase is to deposit money. The next thing will be purchasing the cryptocurrency of your choice. Generally, funds should be available on your account as soon as the transaction is cleared. And since Coinbase is partnered with various payment providers around the world, the transaction duration will depend on your bank and the region you are in.
If you are in the US, you can instantly make a purchase via debit card or US wallet. The other longer option is with the ACH bank transfer system, and this transaction will last 3-5 business days. Here’s how long it will take for other regions to purchase crypto through Coinbase:
|Region||Duration||Type of transfer|
|US||3-5 business days||With ACH transfer|
|Europe||2-3 business days||Using SEPA|
|United Kingdom||1 business day||Using GBP Wallet and GBP bank transfer|
|Canada and Australia||Instantly||Debit cards|
How to Fund Your Coinbase Account With USD, and How Long Will It Take?
As we already mentioned, you can fund your Coinbase via bank wire and ACH. But before you transfer money from your bank account, you must first add a bank account to your Coinbase account. Depositing or withdrawing money via bank transfer can happen the same day if you submit a transaction before 1:00 PM PT and have a Coinbase Pro account. Otherwise, you will have to wait one day. Here is a step-by-step guide on how to transfer funds to your Coinbase account using bank wire:
- Go on the Coinbase Pro app,
- Click Wallet balance and then select “Deposit,”
- Select USD under currency type,
- Select the Wire transfer tab and follow the instructions.
If you decide to sell your cryptocurrencies and cash out, the duration will depend on the method you use. If you are in the US, cash out in USD to your bank account will usually last 1-5 business days. You can see the exact delivery date on your Trade Confirmation page. However, if you have a Coinbase USD Wallet, the selling will happen instantly.
For EU citizens, all transfers within your local currencies should happen instantly, but if you use SEPA, this should take around 1-2 business days. Wire transfer will last one business day. UK citizens will wait one business day to withdraw money via GBP bank transfer.
There is a way to get money from Coinbase instantly by using Instant Card Cashouts. This is an option that will allow you to cash out from your local currency wallet to Visa Fast Funds credit or debit card. In order to get this option, you must live in the UK, EU, or the US and have a Visa Fast Fund card or MasterCard Send linked to your Coinbase account and to your GBP, Euro, or USD wallet on Coinbase.
With this option, all transactions will appear on your bank account within 30 minutes, sometimes 24 hours. Another thing you need to do before you withdraw funds is to sell the crypto you have to your wallet. After the funds are in your wallet, you will be able to withdraw money.
Another important transaction you will constantly use when trading with crypto is sending money from your Coinbase account to your wallets and vice versa, and naturally, you would want to know how long this will take. Remember that a minute can sometimes make a huge difference when trading digital assets like crypto.
If you link your Coinbase account to your Coinbase wallet, you will be able to send crypto back and forward within minutes. And once the coins are in your wallet, you will be able to send them to other wallets and users or make purchases with them. Keep in mind that once the coins are transferred to your wallet, Coinbase will no longer be responsible for your coins.
As a leading exchange platform, Coinbase has worked really hard to create a platform that everyone will understand. This is why Coinbase is excellent for beginners. The downside of the Coinbase is that each transaction will cost you fees, so if you are planning to trade daily and make a lot of transactions, this will not pay off. For this reason, Coinbase has created Coinbase Pro. This separate exchange is perfect for active traders because fees are determined by the number of transactions you have on the platform, meaning traders with many transactions will get discounts on fees.