Coinbase is a cryptocurrency platform that lets you sell, buy, and store cryptocurrency. They are one of the most popular digital currency exchange in the world today. However, in recent years, there are better alternatives to Coinbase. By this, you might want to shift to another cryptocurrency. You might need to know how to delete your Coinbase account to have no further problems as it links your bank account with your Coinbase account.
As more and more digital currencies are popping here and there, you can’t avoid being enticed to that certain company and move away from what you are currently on. If you want to know how to delete a Coinbase account because you transfer to another digital currency exchange company, read further down below.
What Is Coinbase?
Coinbase is an exchange platform for people to have an easier time selling, buying, and storing bitcoins and other cryptocurrencies. It was created in 2012 for the sole purpose of trading bitcoin. However, they have also allowed other cryptocurrencies to conform to its decentralized criteria.
Factors Why People Delete Their Coinbase Accounts
To have a better idea of why the influx of people trying to delete their Coinbase, there are several factors why some people are favoring better cryptocurrency exchange rather than relying on Coinbase alone. Here are the factors:
- Bitcoin has progressed into an insurmountable lead compared to other cryptocurrencies in terms of market cap, brand recognition, and liquidity. And in the future, Bitcoin will surely surpass and accrue almost 91% to 99% of all the future value.
- Coinbase doesn’t want you to store your bitcoin and other cryptocurrencies for no reason. Every facet of Coinbase’s market and the product is specially designed for you to trade as many assets as possible and more frequently continuously. By this, Coinbase makes money out of what you are doing, and like many other casinos principle, they would want their customers to be lasting longer on their casino floor.
- 94% to 96% of traders fail. Unless you eat cryptocurrency for lunch, career professionals will eventually dominate your space and eventually take you over. Just like poker, you wouldn’t want to sit beside the best poker players in the world. The same goes for trading. You are at best by just buying and holding your bitcoin or other cryptocurrencies.
What Are the Alternatives of Coinbase?
This is not a matter of question anymore. Over the years, more and more companies have delved into the world of crypto. And people have created ways on how people can buy Bitcoin and not rely on Coinbase alone. If you research comprehensively, there is a lot of digital currency exchange that provides lower fees and a strong commitment to giving you the best possible education you would need to conquer the crypto world.
How to Get your Money from Coinbase and How to Delete Your Coinbase Account
If you’ve wondered how to get your money from Coinbase and how to delete your Coinbase account, you are not alone. Almost all people have scrolled through the internet to find the perfect solution. The guide below is solely focused on how you can transfer your bitcoin from Coinbase and delete your account from Coinbase for good.
Step 1: Selling Your Altcoins for Bitcoins
Before you delete your Coinbase account for good, you might want to sell or transfer your altcoins and turn them into bitcoin. Although this is quite a deep topic to discuss, you might want to hold on to your bitcoin rather than gambling the entirety of your altcoin.
Selling your altcoins and turning them into bitcoin is a rather quick and easy process. Just look for the Trade tab on the top right corner of the Coinbase website. After that, click on the “Convert” tab for any alternative cryptocurrencies other than bitcoin and convert their full account into bitcoin.
Note: If you want to know how to delete a Coinbase account, you should first have to withdraw all the funds you have in your Coinbase account and transfer them to a discreet Bitcoin Address
Step 2: Go to Your Activity Menu
The next step in deleting your Coinbase account for good is navigating your way through the activity tab. To do this, go to the settings menu on the top right corner of the page. Once you are in the settings menu, look for the “Activity” at the top of your screen and scroll down to the bottom.
Step 3: Closing Your Coinbase Account
- When you are at the activity menu, search for the menu saying “close account.” Once you clicked that, you will be redirected, telling you to enter your password. At this point, you will be prompted with a list of things like withdrawing your funds or any pending activity to do so and will need to complete these actions.
- After all the steps are complete, you can now select the option “Close My Account.”
- Once done, you will be logged out of your Coinbase account, and an email will be sent to you notifying you that you have already closed your account.
Knowing how to delete a Coinbase account is quite easy but needs a better understanding of its works. As I’ve said earlier, before deleting your Coinbase account for good, it would be wise to sell any altcoins and turn them into bitcoins. Ensure you have a new bitcoin address for your funds to be transferred and proceed with the process of deleting.
Bitcoins and other cryptocurrencies are gaining popularity these days. And with Coinbase, you will have an easier time trading different kinds of cryptocurrencies. However, with the crypto industry’s resurgence, more and more companies are opening up in the exchange department in giving you a better feature at a lower price. Discover more about cryptocurrencies here!