Coinbase has been announced or named as the leading exchange platform for cryptocurrencies with the most exclusive and decentralized blockchain network. It is known as the most efficient crypto exchange portal for all the new as well as advanced investors. Having an account on Coinbase can bring in significant perks to your crypto experience.
But, being a technical product it can encounter issues, which may compel users to delete Coinbase account. This read will walk you through the top causes of this action, the process for deleting crypto addresses, closing Coinbase account and the way of withdrawing funds to a bank or a digital wallet. So, let’s not delay the guided read and jump into it.
Learn the top reasons to delete Coinbase
Coinbase began its journey with Bitcoin and earned both finances and loyal users over the years. But, it has been quite a long time since both the brands have been experiencing a major fallout. Coinbase wanted to be a brand with a financial control system which eventually affected their relationship with Bitcoin.
Also, there was a time when Coinbase hired employees from a former hacking team to have a better analysis of the blockchain network. Which again, intruded with the privacy policies set by Bitcoin. Other than that all the other exchange platforms are known to charge lower fees for their services as compared to Coinbase.
Do not delete crypto addresses associated with Coinbase
It is understandable that the above reasons are totally justified to delete Coinbase account but, it is highly recommended that you do not try deleting the crypto addresses that are associated with Coinbase. You must know that you would not be able to delete the crypto addresses from any digital wallet or crypto exchange platform even if you really want to.
The reason behind it is that all the funds are sent to those crypto addresses and the private keys for them can get lost forever if attempted to be eliminated. Ideally, it is not at all encouraged, and even it were, you couldn’t delete the Coinbase associated crypto addresses.
How to close Coinbase account and withdraw to a Bank or Wallet?
Here are the steps that you would require to delete Coinbase account if and when you feel it is necessary:
- From your in-use web browser go to the Coinbase site.
- Use valid credentials to log into your account.
- Look for the “Account Activity” page and go for it.
- Now, locate and hit on the “Close Account” key link.
- Make sure that you do not have any crypto funds in your account before you delete Coinbase account.
- If, for some reason, you still have funds in your account, make sure that you transfer them to any desired digital wallet or sent them to a Coinbase user.
Now, given below are the steps to withdraw your crypto funds before you delete Coinbase account:
- Sign in to your Coinbase Commerce account.
- Go for “Balances” and choose the “Withdraw” key.
- Type in the answer on getting prompted.
Coinbase is the leading exchange platform for cryptocurrencies that lets you trade and invests in multiple digital currencies or you can choose from the large variety available. It focuses on maintaining a safe and secured crypto space and directs all its operations towards enhancing the user experience. Every online service encounters issues and Coinbase is not left out of the loop. Therefore, users might encounter issues, which may arise the need to delete Coinbase account. The read above is specifically built to help you with all of the related aspects.