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. However, you can convert your funds to USDC or withdraw them to your Coinbase account. From there can you withdraw to your 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 fiat 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
How do I withdraw my ERC-20 crypto?
To send or withdraw ERC-20 crypto, like USDC and DAI, ETH is required in order to cover Ethereum network fees (also referred to as “gas fees”). These fees go to cryptocurrency miners, not Coinbase, as an incentive to secure the network and include your transaction on the blockchain (this is known as “on-chain transactions”). Note that if you accept USDC or DAI but do not have ETH in your Commerce account, you will be unable to send/withdraw those funds until your account has enough ETH to cover the transaction fees.
To send/withdraw your ERC-20 cryptocurrency:
- Go to Etherscan to view the Ethereum gas fees.
- See the High estimate in the ERC-20 Transfer row:
This is the estimated transaction cost you would need to cover your withdrawal. We recommend sending a little more than what’s listed to ensure that the transaction executes quickly. Note: If you are withdrawing both USDC and DAI, you will need to send 2x the fee amount to make sure that both transactions execute.
We recommend creating a donation checkout so that you can add ETH to your account to pay the transaction cost before withdrawing your ERC-20 crypto.
- Click Accept Payments on the left-hand side.
- Select Accept Donations.
- We recommend using the donation checkout since you can send any amount of ETH without creating an overpayment or underpayment. Additionally, this donation checkout can be reused anytime you need to add ETH to your account and will appear in your transaction history report.
- Enter an organization name and a brief description.
- For example, enter “ETH Top-Up” as the organization name.
- In the Customer Information pop-up window, select Don’t collect any information only and click Done.
5. In the Donation Details window, copy the link to the donation checkout and paste it into your browser to open the checkout.
6. Send the amount of ETH you determined to cover the transaction fees using the Ethereum Gas Tracker and select Pay with Coinbase (to send the funds from your Coinbase.com account), OR select Ethereum to send ETH to the address shown from an external wallet or exchange.
Once your transaction is confirmed and the ETH is in your account, then you can complete a USDC and/or DAI withdrawal. To initiate a withdrawal, click the Withdrawal button next to the cryptocurrency you’d like to withdraw or click the “Withdrawal” button in the portfolio balance section to withdraw all your crypto from your dashboard.
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