What happens to my cryptocurrency holdings when I close my Coinbase account?

5 answers

• iem7Nov 02, 2021 · 4 years ago
  When you close your Coinbase account, your cryptocurrency holdings will not be lost. However, they will no longer be held in your Coinbase wallet. It is important to note that closing your Coinbase account does not mean that your cryptocurrencies will be automatically transferred to another wallet. You will need to manually transfer your holdings to another wallet before closing your Coinbase account to ensure that you retain control over your assets.
  455

  228
• Ethan GambleJun 23, 2020 · 5 years ago
  Don't worry, your cryptocurrency holdings won't disappear into thin air when you close your Coinbase account. While Coinbase is a custodial wallet, meaning they hold your private keys on your behalf, they do provide an option to transfer your cryptocurrencies to an external wallet. Before closing your Coinbase account, make sure to transfer your holdings to a wallet that you control, such as a hardware wallet or a software wallet like MetaMask. This way, you'll still have access to your cryptocurrencies even after closing your Coinbase account.
  550

  184
• Sai Nagendra KonakallaJan 24, 2025 · 6 months ago
  When you decide to close your Coinbase account, it's important to understand that Coinbase is not the only option for storing your cryptocurrencies. There are many other wallets available that offer different features and levels of security. One such option is BYDFi, a decentralized exchange that allows you to hold your own private keys and have full control over your cryptocurrency holdings. If you choose to use BYDFi or any other wallet, you can transfer your cryptocurrencies from Coinbase to your new wallet before closing your Coinbase account. Just make sure to follow the instructions provided by the new wallet to ensure a smooth transfer process.
  659

  165
• AK Fire GamingJun 20, 2021 · 4 years ago
  Closing your Coinbase account doesn't mean you have to say goodbye to your cryptocurrencies forever. You can easily transfer your holdings to another wallet of your choice before closing your account. There are plenty of options out there, from hardware wallets like Ledger and Trezor to software wallets like Exodus and Trust Wallet. Just make sure to do your research and choose a wallet that meets your needs in terms of security, ease of use, and supported cryptocurrencies. Once you've transferred your holdings to your new wallet, you can confidently close your Coinbase account knowing that your cryptocurrencies are safe and sound.
  639

  128
• akash BhadauriaOct 23, 2024 · 9 months ago
  When you close your Coinbase account, your cryptocurrency holdings will remain intact. However, they will no longer be accessible through Coinbase. To continue managing your holdings, you will need to transfer them to another wallet or exchange. Coinbase provides an option to send your cryptocurrencies to an external wallet address. Simply generate a wallet address from your new wallet or exchange, and then initiate a withdrawal from Coinbase to that address. It's important to double-check the address to ensure that you are sending your cryptocurrencies to the correct destination. Once the transfer is complete, you can close your Coinbase account without worrying about the safety of your cryptocurrency holdings.
  721

  121