Withdrawing money from Coinbase is a simple process, but there are key steps and requirements to be aware of.
You'll first need to have a fully verified account to move either Australian dollars (AUD) or cryptocurrency off the platform.
For cash, you can withdraw to your linked bank account after converting crypto into your local currency. For cryptocurrency, you can send funds to an external wallet or another exchange.
Read on to understand which fees apply, daily withdrawal limits and processing times so that you can avoid delays and unexpected costs.
You can withdraw currency directly to your bank account from either the Coinbase app or website.
Please note you'll first need to convert your funds into your local currency before submitting a withdrawal.
On the Coinbase website:
Coinbase Australia Image: Supplied
On the Coinbase app:
Depending on the method you use to withdraw, you may need to pay a withdrawal fee, especially if you select the "Instant withdrawal" option.
Available withdrawal methods include PayID, Osko or bank transfers. Withdrawing to your debit card is not available as of 2025.
This will depend on which withdrawal method you choose. If you select "Instant withdrawal" or withdraw via debit then your funds should be transferred immediately.
If not, you may need to wait a few business days for the funds to arrive in your bank account.
There is a default daily withdrawal limit of $100,000 (or your local currency) on Coinbase, though whether this includes AUD is not clear.
Coinbase may also impose limits based on your age and transaction history.
Coinbase doesn't charge any fees to withdraw AUD using PayID, Osko or bank transfers.
However, there are other fees to think about that may be charged by third parties, depending on your selected method.
While Australian banks don't typically charge deposit fees, if you're withdrawing to an international bank or converting from a foreign currency, you may have to pay bank and currency conversion fees.
Withdrawing crypto from Coinbase means sending it from your exchange wallet to another wallet or exchange.
Before initiating, double-check the wallet address and ensure the selected network is supported. Sending to the wrong address or incompatible network could result in permanent loss of funds.
Crypto withdrawal times will vary based on which crypto you're looking to withdraw, and the network you used to process the transaction.
To transfer your crypto to another wallet or exchange you'll need to pay a network transaction fee. This is a standard fee applied any time you withdraw crypto from an exchange and it differs depending on the network you use and the coin you want to withdraw.
Coinbase calculates the fee based the network fees at the time of the withdrawal and you'll be shown the amount before you are asked to confirm the transaction.
It may be possible to reduce your withdrawal fees by using a different network, such as the Bitcoin Lightning Network or Polygon.
All USDC withdrawals are free on Coinbase, but you'll need to have converted your crypto to USDC first.
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Where can I withdraw my crypto to?
You should be able to withdraw your crypto to any valid wallet address, including:
Please make sure that the wallet address you're sending your crypto to supports the coin and network you're trying to send. If not, you may lose your funds.
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"With Coinbase now offering AUD withdrawals and deposits, it's become a lot more straightforward for Australians to cash out quickly and cheaply. There are no Coinbase-charged withdrawal fees, but investors should still keep an eye on blockchain network costs and any potential bank processing fees. For most Aussies, using PayID is the quickest and cheapest way to withdraw cash. "
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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