How to Add Money to Coinbase

 

Coinbase cryptocurrency exchange has become one of the main choices to buy, sell, and trade digital currency in a safe environment.

Being a centralized exchange, users can add different payment methods and acquire crypto assets using fiat currency.

What’s more, note that, depending on the country you live in, you’ll be able to initiate deposits through different methods that we’ll cover in this article.

If you want to add cash to your Coinbase account, then this blog post is for you.

Keep on reading to get more information about the following topics:

• How to add money to Coinbase;
• Does Coinbase support deposits and accept wires?;
• Best methods for adding cash into your Coinbase account.

Depositing Funds into Your Coinbase Account

In order to buy crypto in Coinbase, you first need to fund your account.

Your wallet balance must be positive so you can properly participate in the crypto market - otherwise, you won’t be able to acquire tokens easily.

Therefore, it’s a must to fund your account with fiat money.

There’s also the possibility to trade cryptocurrencies with other cryptocurrencies depending on the Trading Pairs you select, but users’ first choice is to do so with certain payment methods.

Add a Payment Method to Coinbase

Naturally, you can’t deposit funds into your account if you don’t add payment methods first.

In order to do this process, you must complete Coinbase KYC Verification Process to eliminate any kind of restriction that your account must be facing.

You can do so on the mobile app or the website - it’s your choice.

• Open the Coinbase mobile app on your mobile device and log in to your account;
• Select the hamburger icon at the top left of the screen;
• In this menu, Coinbase will only allow you to add a card, which you can use to pay for assets. Fill in the card’s details and proceed.

But, what happens if you want to fund your account via bank transfers? Keep on reading to get more information about this matter.

How to Add Money to Coinbase

Once you finish adding your payment method and verifying your account, it’s time to start depositing funds into your Coinbase wallet balance.

To do so, you have three different alternatives that we will further elaborate on.

Keep in mind that if you live in the US, the currency type will always be USD.

Nonetheless, the same process works with another currency type, such as EUR in some European countries.

1. Coinbase Wire Transfer from Bank Account

You can do a wire bank transfer both from the US and from foreign countries.

Don’t forget to take into account that an international wire transfer will incur most fees that you might be willing to pay (around a $25 flat fee).

In any case, if you want to start a bank wire transaction in the US, then these are the steps you must follow.

Step 1: Log In to Your Coinbase Account

Log in to your Coinbase account.

The platform will ask you to verify your bank account in order to properly complete a wire transfer.

The bank account must match the name on your Coinbase account, so you won’t be able to do a wire transfer with someone else’s name.

Step 2: Click on “Trade” and then on Deposit

Go to Portfolio, then select “Deposit” and tap on your USD wallet.

Select the Bank Wire Transfer payment method and then proceed.

Step 3: Complete the process with the Unique Reference Code

Coinbase will give you a personal account number or a unique code to ensure that the funds correctly go from your bank account to your Coinbase wallet without problems.

Also, there’s a $10 flat fee for depositing from your bank account using wire transfers.

The transfer must be available between 1 and 2 business days, but it can be available the same day if you initiate the deposit before 1 PM.

2. ACH Bank Transfer to Coinbase (US Customers Only)

ACH bank transfers and deposits are only available for US customers.

Therefore, if you want to initiate an ACH transfer, keep in mind this before proceeding.

Step 1: Verify Your US Bank Account for an ACH Transfer

ACH transfers require an additional verification process in order to properly deposit from a bank account to Coinbase.

Then again, go to Trade, select “Deposit,” tap on your USD wallet and select “ACH Bank Transfer” as your payment method.

Coinbase will redirect you to your bank’s website to adequately verify your info.

Step 2: Deposit USD into Your Coinbase Account

Once the bank account is linked and verified, you’ll only need to tap on “Deposit USD,” and you’ll be good to go.

What’s more, ACH transfers are totally free, but they can take up to 5 business days.

3. Deposit Funds with Your PayPal Account

It’s important to mention that only US Customers can use PayPal to add USD.

Nonetheless, you can indeed cash out from PayPal with EUR or GBP.

Step 1: Link Your PayPal Account with Coinbase

Both your PayPal and Coinbase accounts must be verified before being able to fund your account with PayPal.

Then again, go to your settings and add PayPal as one of your payment alternatives.

Step 2: Follow On-Screen Instructions and Deposit USD

Look for your USD wallet, click or tap on “Deposit” and the PayPal option will appear.

Tap on it and wait for the transaction to take place by following on-screen instructions.

Don’t forget that you can’t link a PayPal account that doesn’t match your Coinbase data.

And that’s how you fund your Coinbase profile! You are now ready to trade fiat money for crypto assets.

Add Money To Coinbase FAQ

Can You Deposit to Coinbase with a Credit Card?

No. You can’t directly use your credit card to fund your Coinbase account on the platform.

Can I Withdraw Money from Coinbase?

Yes, you can! Select withdraw in the fiat currency you desire and start the process.

After selecting “Withdraw,” the app will tell you exactly how to proceed. Learn how to Withdraw Money from Coinbase by reading our guide!

About the author

Steve

Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.