Coinbase is a fantastic resource for those just entering the world of Cryptocurrency, thanks to an easy to navigate web page and a simple trading system.
But eventually, you might find Coinbase just doesn’t have the necessary tools for the types of Crypto exchange you intend to be making.
Whatever the reason, you’ll want to leave Coinbase behind by permanently closing your account.
Coinbase is known for its intuitive user interface, and they make closing an account just as easy as starting one.
Just make sure to clear out your funds in advance, and you can close the account with just a few clicks.
Take a look at this guide for a detailed explanation on how to close your Coinbase account.
Can You Close A Coinbase Account?
Yes, you can close a Coinbase account permanently.
Coinbase is a popular Cryptocurrency trading platform, known for having a simple user interface that allows even Crypto-beginners to learn the tools of the trade.
However, many find that after gaining experience and advancing in their Cryptocurrency journey, the Coinbase platform is limited.
Luckily, that simple user interface also makes it easy for you to transfer funds, empty your wallet, and permanently close the account.
How To Permanently Close A Coinbase Account
In order to close your account, you must first ensure that it is empty of all funds.
You can do this either by exchanging your Crypto for Fiat currency and transferring it to a linked bank account, or by transferring Crypto to an external wallet.
Transferring money to a linked bank or debit card can take several days, but you can track the transaction from your account.
We recommend keeping your Coinbase account open until you see the transfer has successfully gone through.
If you want to close your account quickly and you have money in the wallet, we recommend using another method to empty the account.
Alternatively, you can keep the money as Crypto, and transfer it across to an external wallet outside the Coinbase system. Or, you can transfer the Crypto to the Coinbase wallet of another user.
Coinbase also offers the option to transfer money to GiveCrypto.org. This is a non-profit dedicated to distributing Cryptocurrency to those in need.
Having emptied your wallet, you’re now able to permanently close your account.
On a web browser, head across to the “Profile” menu in the top right-hand of the page.
Near the bottom of the page is a “Close Account” button.
Coinbase will now prompt you to enter your password. Do so, and click “Close Account”.
Next, Coinbase will ask you to ensure you’ve cleared all your funds. A checklist will pop up asking you to ensure your wallets are completely empty.
If there is any remaining balance, Coinbase will prompt you to withdraw the currency left before closing the account.
With your wallets empty and no balance remaining, the only step left is to click “Close Account” for the final time.
Coinbase will now log you out for the last time. Expect to receive an email from Coinbase confirming that the account is closed.
This is a permanent account closure. Only follow these steps if you have no interest in continuing to use Coinbase.com.
It is possible to clear the funds from the wallets and keep the account open if you want a less permanent solution.
Can You Close A Coinbase Account Via The App?
For many of us, the simplicity of the Coinbase app has meant that we’ve rarely used the Coinbase webpage.
However, if you want to close your Coinbase account, you will need to log into the web browser.
There is no way to close a Coinbase account from the mobile app.
If you close your Coinbase account via a web browser, you will be logged out of your account on the app, and you won’t be able to get back in.
How Do I Close My Coinbase Pro Account?
If you’ve upgraded from Coinbase to Coinbase Pro, you might consider closing your Coinbase account for simplicity.
However, doing this will also close your Coinbase Pro account.
We recommend keeping the original Coinbase account, so you can still access your Coinbase Pro service.
Do Coinbase Keep My Data Once I’ve Closed My Account?
Privacy is important for everyone, but especially when dealing with Cryptocurrency.
Coinbase has come under heat before for requiring a great deal of information from users, which you might not want them to hang onto once you’re gone.
Once your account is permanently closed, Coinbase will keep hold of your basic personal information for a minimum of five years.
This is done as a necessity, to comply with various legal obligations.
Coinbase also keeps information in order to prevent fraud and to follow up on any disputes or suspicious activity.
What To Do Now?
With your Coinbase account closed, you might be looking for a new way to trade and transfer Cryptocurrency.
While Coinbase has an active user base and a trusted name, they are considered to be Crypto trading for beginners.
So, with your account closed, you might be looking for a new platform to expand your interest in Crypto.
Coinbase Pro offers a more complex user interface, but a better trading experience. For those who have experience using Coinbase, Coinbase Pro is a logical next step.
However, if you want to switch to Pro, don’t close your Coinbase account. It’ll delete your Pro account as well.
There are plenty of other alternatives to Coinbase. Kraken, Gemini, Crypto.com, Binance, and FTX are all solid choices with their own pros and cons.
We find these platforms are better suited to handle advanced cryptocurrency transactions.
We recommend doing some research before making your choice, and finding the platform that fits your needs the best.
Advanced traders often find that the Coinbase platform no longer keeps up with their needs.
To make a clean break, you may prefer to permanently close your account.
This is easy to do with the “Close Account” button, as long as you’ve ensured that there are no funds left in your account.