Self Managed Commerce merchants
How can I withdraw the funds that I've received?
To withdraw your funds, sign in to your Coinbase Commerce account and click on the Withdraw button next to the relevant cryptocurrency in the Balances section. A window will pop up and ask how much you would like to withdraw, and where you would like these funds to go.
At this time, Coinbase Commerce is a cryptocurrency-only service, meaning you can’t link your bank account directly to your Commerce account. You can withdraw any crypto you have directly to a linked Coinbase account. From there, you can convert the crypto to cash and withdraw the funds to a linked bank account.
If you don’t have Coinbase, please visit www.coinbase.com to sign up.
Why do I have to pay a network fee to withdraw?
There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees.
A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network. The sender is responsible for paying network fees associated with the transaction; each blockchain has its own cryptocurrency that is used for network fees. For example, Bitcoin (BTC) and Ethereum (ETH) refer to the cryptocurrency and network that the crypto is built on. These fees go to cryptocurrency miners, not Coinbase, as an incentive to secure the network and include your transaction on the blockchain.
There are a number of network-dependent factors that are used to calculate a withdrawal fee, making it difficult to predict these fees before attempting to withdraw. In general, these fees will be higher when more payments are received. These fees are not Coinbase fees, as they're determined by the crypto network.
Is there a minimum amount that I have to withdraw?
Yes, but the minimum is small to ensure you always have access to your funds. These minimums fluctuate with exchange rates, but are generally under $0.10.
Is there a maximum amount that I can withdraw?
There are no maximum withdrawal limits on Coinbase Commerce—you can withdraw all funds at any point.
ERC-20 crypto withdrawals
To send/withdraw ERC-20’s like USDC and DAI, ETH is required in order to cover Ethereum network fees (also referred to as gas fees). These fees go to network validators as an incentive to secure the network and include your transaction in a block.
If you do not already have ETH in your Commerce account, you’ll need to send yourself enough to cover the network fees. You can use an Ethereum gas tracker like Etherscan to estimate how much you’ll need.
It can be helpful to send a slightly larger amount of ETH than quoted given the estimate on Etherscan isn’t indicative of actual costs. Given network fees are constantly changing, having a buffer can be useful in case network congestion increases.
Note: If you are transferring more than one cryptocurrency, you’ll need to pay a fee for each. For example, if you’re sending USDC and DAI, you’ll need enough ETH to pay for 2 ERC-20 withdrawals.
Transfer ETH to pay network fees
You can create a donation checkout in order to transfer ETH to your Commerce account to pay fees. For instructions on how to create a donation checkout, please view our donations help center article.
A donation checkout allows you to send any amount of ETH without creating an overpayment or underpayment. You can also reuse the donation checkout anytime you need to add ETH to your account for network fees. The donations will appear in your transaction history report.
Once you’ve established a donation payment flow for transferring yourself ETH:
Copy the custom link that’s provided when you finish creating the checkout. Paste it into another window or tab and open the checkout.
Select Pay with Coinbase to use a Coinbase account to send funds or select Ethereum to send ETH from an external wallet or exchange.
Send the amount of ETH you determined will cover the transaction fees.
Once your transaction is confirmed and the ETH is in your account, then you can complete a USDC and/or DAI withdrawal. Follow the instructions provided to withdraw your funds.