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Petko AleksandrovCoinbase withdraw to bank account
Dear investors, in this lecture, I will show you how you can do a Coinbase withdraw to a bank account. I know that many of you, especially the beginners, are worried if you can get your money back once it is invested in the exchanges or the cryptocurrency platforms.
And you have to worry about that because there are so many scammers around – scam companies, brokers, and exchanges. Many people lose just because they cannot withdraw their money. With Coinbase we can withdraw money and I will show you that in this blog post.
I have no problems making a Coinbase withdraw to bank account or to my PayPal account. And personally, I think that it is very important to withdraw money because this way, we see the effect of trading or the effect of investing.
And this is a free lecture from the course Cryptocurrency Investment Strategy Without Losses:
If you just fund your account and you fund more, and you keep buying but you never take a single dollar out of it, you will never really feel the satisfaction from the investing and from having profits into your account.
As well, this is one way to keep the greed away because the more money you have in the account, the more the profits come. Usually, the investors and the traders get greedy and they buy even more. And if the market crashes or something happens against your strategy, there is always the risk of this happening.
Also using a regulated Cryptocurrency exchange is very important. Coinbase is one of the exchanges that I use. I have a free video about the Top 10 Cryptocurrency exchanges out there:
Make simple rules for your Coinbase withdrawals
You might lose a sustainable amount of money. This is why if you withdraw some funds from time to time, first, you will feel great to have them back as a Coinbase withdrawal in your Visa card or in your PayPal account. Second of all, you will stay away from greed which is a bad emotion that drives people into losses.
You can make simple rules. For example, now I will withdraw the profit that I had from this cycle and I will click on the EUR Wallet. And on the right side, I have the option to withdraw.
How much was the profit? It was €559 total.
I click on Continue. And Coinbase gives the chance to withdraw to the Visa card that I have used for buying the cryptocurrencies. There is a fee and I have the option to withdraw to my PayPal account which is free without fees. But my PayPal account is in USD and I’m withdrawing EUR.
The conversion rate in PayPal is pretty bad and first my money will be converted from EUR to USD. And when I withdraw it to the Visa, it will be converted to Bulgarian Levs which is the national currency. This will bring me much more losses than the €11 fee.
Coibase withdrawals are instant
So I prefer, in this case, to withdraw to the Visa card. If everything is in one currency, if you are living, for example, in Germany, you have EUR Visa card, you have EUR PayPal account, and you have EUR Coinbase, great. You will not have any conversions.
Or if you’re in the States and everything is in dollars, even better. So keep these conversions in mind. This is why I prefer now to withdraw the money to my Visa card. I click on it and then I will click on Continue, and the funds will arrive instantly which is pretty nice.
Anytime you need the money from your Coinbase account, you can withdraw it and there will be 11.18 of withdrawal fee. I click on Withdraw now, it will take a couple of seconds. I have now the funds into my Visa card and the balance in the EUR Wallet is less now.
I just got the message on my cell phone that the money arrived in the bank. So it’s really instant Coinbase withdraw to bank account, one of the reasons I’m using this exchange. And as I said at the beginning of the course, don’t take it as a recommendation. I don’t suggest using it.
Coinbase withdraw to bank account is a personal choice
It’s up to you which one you want to use. But before you put a bigger amount of money, it is really recommendable to do such tests.
So buy some cryptocurrencies with small amount of money, then withdraw, see the money back to your Visa card or to your bank account to make sure that the exchange allows you to withdraw money because the scammers, the scam brokers, and the scam exchanges will not allow you to do that.
And, one more time, it’s up to you if you want to perform Coinbase withdraw to bank account. Personally, I withdraw sometimes the profits but at the same time, I want to have balance in the EUR Wallet. So if I have new buying opportunities, I will buy from the Wallet which will result in fewer fees to Coinbase.
Because, as you saw, when I buy from the Visa card, it’s a bigger fee. Or in other words, withdraw money whenever you need it. But if you don’t need it, you better keep it in your Wallet so you will pay a smaller fee the next time you buy cryptocurrency.
The Fibonacci system that I use to take the Profits
I hope these tips were useful to you. And really, it’s up to you if you want to sell the cryptocurrencies because there are so many people that are just buying continuously. And if you are that type of person, this is just fine.
You can use the entries that I demonstrated along the Cryptocurrency Investment course to buy cryptocurrencies and you can just hold them in your portfolio.
This is just fine if you can afford it and if you want just to keep the cryptocurrencies. But because I’m originally a trader, I prefer to take the profits and not to hold positions. And most of all, because I want to be realistic in the market. And because I love when I do Coinbase withdraw to bank account or to my PayPal account.
If I go to the daily chart and I show you the bigger picture of the Bitcoin, it is just one time when the price went to 20,000.
I’m not saying that it will never happen again, I don’t know that. But I’m realistic and I see that the price bounced off the 10,000 many times.
So it’s a great level for me to take profits and to sell the cryptocurrencies. And as well I use the Fibonacci which is a great indicator, it is connected to the trend. It works for me really to use the Fibonacci targets. And even if I sell everything, I know that there will be new opportunities.
Feel free to ask any questions
There are always new opportunities to enter the market and to buy again. Especially when we sell everything, the price drops, we buy at lower prices and we are on profit again, that’s the best thing in this strategy and in this system.
Thank you very much for watching the course, guys. It was really a pleasure recording it. If you have any questions, don’t ever hesitate to ask me. Send me screenshots of your screen, I will be happy to give you some suggestions, tips, or ideas, or to compare it with my current setup and see if we are looking at the same thing.
If we are not, we will discuss it. Maybe I am wrong and you are right. It will be beneficial for both sides and for all the other students that see the questions, the pictures, and the discussion.
That’s it for now. I will keep updating the course with new examples and new investing opportunities that are there on the market and I wish you always to have a great day.
Cheers.