We’ll guide you how to delete a Coinbase account and transfer your currency or crypto assets in this post.
If you’re worried about your confidentiality and that your personal data and information will be disclosed, or if you are tired of having your coinbase account restricted and want to close your account, follow this process.
So, let’s get started with this Coinbase guideline, which will show you how to delete coinbase account in 2022.
Steps To delete Coinbase account
If you’re willing to close and delete your Coinbase account, we’ve put together a brief guide to help you do it. It will keep some of your personal information after you close your account. Your information will be kept for a minimum of five years, or as long as is required to meet laws and regulations in your area. This is done to avoid fraud and to settle potential conflicts, among other things.
1st step: Withdraw your funds from Coinbase
When you start deleting (or closing your Coinbase account), make sure you’ve withdrawn or transferred any funds that are currently in their account. You could either sell and take the cash, or just send them to another outside wallet.
If you still need assistance withdrawal from Coinbase, please see the guide below.
2nd Step: Go to your activity’s page
Closing your Coinbase account is the next step. To do so, navigate to “Settings” on your account/profile in the top right of the screen.
Then, at the top of the screen, click on “Activity” and scroll all the way down to the bottom.
3rd Step: Deactivate your Coinbase account
When you click the “Close Account” button, you’ll be asked to enter your password. If you have not yet withdrawn your cash or completed any pending activity, you will be prompted to do so at this time.
After you’ve completed these steps, click “Close My Account.”
Thereafter, you’ll be logged out of your account and receive an email stating that it’s been closed.
What exactly is Coinbase?
Coinbase is indeed a centralized virtual currency that allows customers of coinbase limit order to purchase and sell Bitcoin and other digital currencies. Coinbase Exchange, Coinbase Pro (their more advanced trading platform), and Coinbase Wallet are the company’s three main products. You can find your unique crypto wallet address on the web or through the Coinbase mobile app.
Coinbase is an excellent spot for newcomers to begin their cryptocurrency journey. This is due to the fact that it provides an easy option to purchase Bitcoin as well as a $10 sign-up incentive. Additionally, their Coinbase Earn function is a fantastic way to learn about crypto and earn free tokens.
People are deleting their Coinbase accounts for a variety of reasons
Let’s start with three essential facts to acknowledge why the delete coinbase account movement has taken off and how so many individuals want to remove their Coinbase accounts in favor of other options for Bitcoin purchases:
- In terms of market size, liquidity, brand recognition, and total users, Bitcoin already has an overwhelming victory over all other cryptocurrencies. Bitcoin will most certainly account for 90 to 99 percent of all potential value in the industry in the following years and decades.
- Coinbase doesn’t really want you to just buy Bitcoin and keep it. Every part of Coinbase’s product and marketing is geared toward getting you to trade as many resources as possible, and as soon as possible. Coinbase, like every other casino, is going to try and keep gamblers on the floor, to get money when you trade.
- Traders fail 96% of the time. The advanced algorithm professionals who dominate the field will actually consume your lunch unless you’re a career pro. Trading is similar to sitting down at a table with the top poker players in the world. Buying and owning Bitcoin is the best option for you.
You’re in luck if you’re seeking for Coinbase alternatives. There are numerous organized and distributed exchanges where you can trade and swap tokens in order to gain access to fresh cryptocurrency assets.
Centralized exchanges like Huobi, Gemini, and Kraken are the most popular choices. Binance, Crypto.com, and FTX are the exchanges that we prefer. You can trade for a variety of bitcoin assets on these platforms. They will require some form of KYC and charge trading fees ranging from 0.1 percent
Decentralized exchanges like UniSwap, 1inch, and ParaSwap have lately grown in popularity. This is because of their peer-to-peer trading approach, secrecy, and the fact that you do not send funds to an exchange, making it a secure method to trade.
Delete Coinbase Account: Final Thoughts
As you’ve seen, deleting your Coinbase account is simple, and if you follow the steps carefully, you will achieve the intended result. Before you close your account, make sure you withdraw the money you have in it – whether there is any left. You will not be able to delete your account until you first transfer your funds.
You will only require a few clicks to successfully delete your account once you are finished. Alternatives of Coinbase include SwanBitcoin, Coinfloor, and many others if you still wish to invest in Bitcoin. There are more options besides Coinbase.