As one of the most popular cryptocurrency exchanges, Coinbase has attracted millions of users worldwide. However, you may want to delete your Coinbase account for various reasons. In this comprehensive guide, we will walk you through the process of deleting your Coinbase account, discuss the reasons for doing so, and address frequently asked questions related to account deletion. Let’s get started!
Why Delete Your Coinbase Account?
Before diving into the deletion process, it’s essential to understand why you want to delete your Coinbase account. These reasons might include the following:
- Switching to a different cryptocurrency exchange
- Privacy concerns
- No longer trading or investing in cryptocurrencies
- Reducing digital footprint
We’ll cover the steps below regardless of your reason for deleting your account.
Step-by-Step Guide to Deleting Your Coinbase Account
Deleting your Coinbase account involves several measures to ensure the security of your personal and financial information. Here’s a step-by-step guide to help you through the process:
Step 1: Transfer or Sell Your Cryptocurrencies
Before deleting your Coinbase account, transfer any remaining cryptocurrencies to another wallet or exchange or sell them for your preferred fiat currency (e.g., USD, EUR, GBP). To share your cryptocurrencies, follow these steps:
- Log in to your Coinbase account
- Click on “Portfolio” in the main navigation bar
- Select the cryptocurrency you want to transfer
- Click on “Send” and enter the destination wallet address and amount
- Review the transaction details and click “Send” to confirm the transfer
To sell your cryptocurrencies, follow these steps:
- Log in to your Coinbase account
- Click on “Trade” in the main navigation bar
- Select the cryptocurrency you want to sell
- Enter the amount you want to sell and click “Preview sell.”
- Review the transaction details and click “Sell now” to confirm the sale
Step 2: Withdraw Your Fiat Currency Balance
After selling your cryptocurrencies, you must withdraw your fiat currency balance to your linked bank account. To do this, follow these steps:
- Log in to your Coinbase account
- Click on “Portfolio” in the main navigation bar
- Select your fiat currency wallet (e.g., USD Wallet, EUR Wallet, GBP Wallet)
- Click on “Withdraw” and enter the amount you want to withdraw
- Select your linked bank account and click “Continue.”
- Review the transaction details and click “Withdraw” to confirm the withdrawal
Step 3: Delete Your Coinbase Account
Once you have transferred or sold your cryptocurrencies and withdrawn your fiat currency balance, you can delete your Coinbase account. To do this, follow these steps:
- Log in to your Coinbase account
- Click on the profile icon in the top right corner and select “Settings.”
- Click on the “Account” tab
- Scroll down to the “Close Account” section and click “Close Account.”
- Enter your password and click “Close Account” again to confirm your decision.
Your Coinbase account will now be closed, and you will receive a confirmation email.
Frequently Asked Questions
What happens to my transaction history when I delete my Coinbase account?
When you delete your Coinbase account, your transaction history will no longer be accessible through the platform. Before deleting your account, you should download a copy of your transaction history for tax and record-keeping purposes. To do this, log in to your Coinbase account, click on the profile icon in the top right corner, select “Reports,” and follow the prompts to generate and download a transaction history report.
Can I recover my Coinbase account after deletion?
Account deletion is generally permanent, and recovering a deleted account may not be possible. If you change your mind after initiating the deletion process, contact Coinbase Support immediately to see if they can cancel the request. If your account has already been deleted, you must create a new Coinbase account to use the platform again.
Does deleting my Coinbase account affect my Coinbase Pro account?
Yes, deleting your Coinbase account will also delete your Coinbase Pro account, as they are linked together. Make sure to transfer or sell any remaining cryptocurrencies and withdraw your fiat currency balance from your Coinbase Pro account before deleting your Coinbase account.
How long does it take for my Coinbase account to be deleted?
Once you have completed the account deletion process, your Coinbase account should be closed immediately. However, your data may take several days to be entirely removed from their systems. You will receive a confirmation email once your account has been closed.
Conclusion
Deleting your Coinbase account is a straightforward process that involves transferring or selling your cryptocurrencies, withdrawing your fiat currency balance, and confirming your decision to close the account. It’s essential to consider the consequences of account deletion, as it is generally permanent and may affect your access to your transaction history and any linked Coinbase Pro account. We hope this guide has provided the information necessary to delete your Coinbase account. If you have any additional questions, don’t hesitate to contact Coinbase Support for assistance.