In partnership with Remitly, Coinbase US customers can safely send cryptocurrency to recipients in Mexico, and the recipients can instantly convert their crypto to cash and pick up the cash from a convenient location of their choice.
How does it work?
US customers send crypto to recipients in Mexico simply using the recipient’s email address. The recipient will get an email that funds were sent to them. If they do not have a Coinbase account, they can create one and the funds will be readily available. Recipients can convert their crypto to cash and instantly pick it up—there are more than 20,000 locations to choose from.
Why do I need to verify my identity?
To comply with financial regulations, Coinbase requires all of our customers to verify their identity. Recipients must verify their identity by providing their legal name, date of birth, and home address to pick up their cash. Verifying your identity on Coinbase helps protect you from fraud and allows Coinbase to offer you all of our services and products.
Will this feature be available in more regions?
We’re working on making this available in more regions. At this time, only US customers can send funds to friends and family in Mexico for instant withdrawal and only recipients in Mexico can cash out their funds and immediately pick it up.
Sender
Instantly send crypto to your friends and family in Mexico, and they can convert their crypto to cash and instantly pick it up from a location of their choice. To send crypto, follow the steps below:
Tap the announcement banner in the Coinbase mobile app.
Tap Send crypto.
Choose your asset and enter the amount of crypto you'd like to send.
Tap Continue.
Enter the recipient’s information (either their mobile or email address) and a note (optional), then tap Preview send.
Confirm the transaction details and tap Send now to complete the transfer.
You’ll receive a confirmation when your send is successfully sent.
Important: If you send crypto to the wrong recipient and it’s claimed before you can cancel the transaction, your crypto will be lost. All sends to crypto addresses are irreversible.
Receiver
You’ll receive an email notification or text message when funds are sent to you. Note that you will need to create a Coinbase account—if you haven’t already done so—and verify your identity in order to cash out the funds sent to you.
Open the notification.
Tap Get my cash.
Enter the amount you’d like to cash out.
Select your pickup location.
Confirm the transaction details and tap Cash out now.
Once complete, you’ll receive a receipt with a tracking code and network ID. Bring your government-issued ID, tracking code, and network ID when you pick up your cash. Tap View pickup location to find your nearest location for pick up.
For example, if you selected BanCoppel as your pickup location, then you’ll see the nearest BanCoppel locations for you to pick up your cash.
If you have any issues with picking up your cash or any withdrawal issues, please visit Remitly’s Help Center for further assistance.