according to this article that USDC withdrawals are FREE across all supported networks. Coinbase will cover network fees on behalf of our customers. - https://help.coinbase.com/en/international-exchange/trading-deposits-withdrawals/network-fees
So the cheapest way is by withdrawing using USDC, but USDT fee is considering cheap nowadays maybe a dollar even you withdraw on ETH Network I think
Topic: Cheapest way to withdraw my money from Coinbase (Read 189 times)
Hi, I would like to withdraw my coinbase balance.
Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
USDT is available on multiple network but not on LTC so if you have LTC then trade it for USDT first and then withdraw it but it's not going to be cheaper so you can choose USDC which seems free on the coinbase platforms or just use TRX which is the most cheapest compared to any other cryptos when it comes to withdrawal fee on crypto exchanges.Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
If possible withdraw as Fiat which is more convenient if your intention is to sell those cryptos to fiat sooner after you withdraw from coinbase or just convert to BTC and then withdraw it to your wallet so you can cut this nonsense and any misunderstanding.
I used to use ADA before realizing that LTC withdrawal fees were cheaper and only required fewer confirmation count to be reflected in my local exchange balance.
This decision must be accompanied by several considerations depending on the use of the coins you withdraw afterwards, especially pay attention to all conversion costs if you want to do it multiple times either from the first or last exchange. Because exchange fees are calculated in percentages.
This decision must be accompanied by several considerations depending on the use of the coins you withdraw afterwards, especially pay attention to all conversion costs if you want to do it multiple times either from the first or last exchange. Because exchange fees are calculated in percentages.
LTC
TRX
MATIC.
BNB
SOL
All of these have very low withdrawal fees. If you need to withdraw any coins, you can withdraw any of them. However, if you need USDT, withdrawing other coins will increase your hassle as you will have to take them to another exchange and convert them back to USDT. So you can make any decision according to your purpose. This should be entirely your personal decision
TRX
MATIC.
BNB
SOL
All of these have very low withdrawal fees. If you need to withdraw any coins, you can withdraw any of them. However, if you need USDT, withdrawing other coins will increase your hassle as you will have to take them to another exchange and convert them back to USDT. So you can make any decision according to your purpose. This should be entirely your personal decision
You cannot specify the network for USDT because Coinbase does not support any other chains except for ERC-20 for USDT withdrawals.
Are you sure about this?I did not use Coinbase a long time and forgot my account there, can not check it at the moment but from their FAQs, it seems they support multiple chains for both deposits and withdrawals.
Yes, I am 99% sure. I have heard from a couple of sources that they wrote their BSC address to withdraw their funds, but later, they saw Coinbase used the ERC-20 chain to release the USDT withdrawal. If anyone uses the the same wallet address for both BSC and ERC-20 chain, they may able to get the fund but if someone does not have access to multiple chains, the fund is lost. I did not used Coinbase for years and I am not up to date. But, as you can see from this case, they did not let him choose the network. So, I assume it's same how it was years ago. So, I am 99% sure they do not support multiple chains for USDT withdrawals at this moment.
Oh wait, I found a official source BTW[1]
Tether (USDT)is a stablecoin available on several blockchains that aims to maintain the same value as the US dollar. The company behind Tether, Tether Limited, claims to hold reserves that fully back each USDT. As of 2021, USDT is the most widely-used stablecoin in the world, with a market cap over $30 billion. Please note: at this time, Coinbase only supports ERC-20 USDT running on the Ethereum blockchain.
[1] https://www.coinbase.com/blog/tether-usdt-is-now-available-on-coinbase
You cannot specify the network for USDT because Coinbase does not support any other chains except for ERC-20 for USDT withdrawals.
Are you sure about this?I did not use Coinbase a long time and forgot my account there, can not check it at the moment but from their FAQs, it seems they support multiple chains for both deposits and withdrawals.
Multiple blockchain network assets on Coinbase Exchange.
Not sure why they did not mention USDT there, only USDC.
Quote
Your funds will automatically be deposited into the same account, regardless of which network they were deposited from. For example, if you deposit ETH from the Polygon network, it will be deposited into your ETH balance. At the time of withdrawal, the asset will be fungible (mutually interchangeable) across all supported blockchains. In this example, you could withdraw ETH to the Ethereum or Polygon network.
USDT is currently available on Coinbase wallet. More detailed instructions on how to buy USDT with Coinbase wallet. According to this instruction, they only support USDT on ERC20.
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
You cannot specify the network for USDT because Coinbase does not support any other chains except for ERC-20 for USDT withdrawals. So, if you are withdrawing your USDT from Coinbase, make sure to use ERC-20 wallet address so you don't lose your coins. I have used coinbase while ago and I don't remember if I were able to exchange coins between currencies. So, I am not sure if you will be able to exchange your coins for some efficient coins. If you talk about withdrawal or the transaction fees, I guess TRX or Doge is the best option to make cheap transactions. Also, it takes only a few minutes to get confirmed.
I also used to have a Coinbase account but recently they decided to close many accounts in many countries but they didn't say why. But I know one thing that the bitcoin withdrawal transaction fee on coinbase is quite cheap even when the bitcoin network is congested. I remember, every time you request a withdrawal, they will tell you the fee they will charge you, so it's better to try it directly instead of asking people because I believe there are not too many people here who use Coinbase.
There are two something that you need to make sure of them:
https://help.coinbase.com/en/commerce/getting-started/withdrawals gives you the cheapest withdrawal fees from Coinbase, then you will make sure whether this cryptocurrency applies to the second condition or not.
- Withdrawal fees from Coinbase
- If the withdrawn cryptocurrency is supported in other CEXs/DEXs or you have a wallet supports it.
https://help.coinbase.com/en/commerce/getting-started/withdrawals gives you the cheapest withdrawal fees from Coinbase, then you will make sure whether this cryptocurrency applies to the second condition or not.
Coinbase claims that they will cover all network fees for the clients. It's worth noting that Coinbase and circle (the company behind USDC) have some sort of partnership, so this is not surprising
I think free withdrawal for USDC applies only to international exchange/Coinbase Pro but not for the old version of Coinbase wallet/exchange.
Coinbase these days is very confusing, they create Coinbase Pro and commerce they merge all faqs, guides, and solutions into one that makes people confused(or it's just me).
@OP
The last time that I withdrew Nano from Coinbase it was free I don't know if Nano can be still withdrawn from Coinbase for free but I think if they ask for the fee it should be cheap.
Since you asked for the cheapest then according to this article, I would say it's through withdrawing USDC across any network of your choice.
Coinbase claims that they will cover all network fees for the clients. It's worth noting that Coinbase and circle (the company behind USDC) have some sort of partnership, so this is not surprising
Quote
*USDC is supported on the following Networks:
Ethereum
Arbitrum
Avalanche C-Chain
Polygon
Solana
Ethereum
Arbitrum
Avalanche C-Chain
Polygon
Solana
Coinbase claims that they will cover all network fees for the clients. It's worth noting that Coinbase and circle (the company behind USDC) have some sort of partnership, so this is not surprising
So, this article was from 2021 and I haven't seen the most recent one so it seems that it only supports the ERC20-USDT.
Please note: at this time, Coinbase only supports ERC-20 USDT running on the Ethereum blockchain.
Currently almost all Ethereum address compatible network support there USDT/USDC withdrawal, left to ethereum alone the fee will be too high as they always have one of the highest transaction fee.
Quote
supported on the following Networks:
Ethereum
Arbitrum
Avalanche C-Chain
Polygon
Solana
Ethereum
Arbitrum
Avalanche C-Chain
Polygon
Solana
I assume you want to make a transaction between two exchanges. So you may withdraw whatever you are holding. It doesn't matter if the fees are a bit higher. Because if you convert it, then you have to pay trading fees. So I don't think it will be very beneficial for you since you have converted twice. We are hopeless here; we always need to pay extra fees over network fees to the exchanges. It's their withdrawal fees that are actually generating revenue.
There are cheap withdrawal options just like many people have suggested here but I think Stellar(XLM) has zero withdrawal fees in Coinbase. Notonly that, This article shows that even EOS, Internet Computers (ICP), Celo (CELO) and Horizon (ZEN) also have zero withdrawal fees. It now depends on which option you are most comfortable with. Bitcoin withdrawal fees is 0.00000423 which is very low to in case other options are not fine with you.
This isn't a topic to be discussed in the Bitcoin Discussion so you have posted it to the wrong board. Kindly move your thread to Service Discussion (Altcoins).
Hi, I would like to withdraw my coinbase balance.
Is Litecoin still the cheapest way to withdraw?
I don't use Coinbase so before you withdraw, check out the options during the withdrawal on which crypto is allowing you to withdraw cheaper including the fee.Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
So, this article was from 2021 and I haven't seen the most recent one so it seems that it only supports the ERC20-USDT. Please note: at this time, Coinbase only supports ERC-20 USDT running on the Ethereum blockchain.
Snip
First i will like to inform you to move your thread to exchages because the currency you're discussing is not bitcoin in this regard and that alone makes this thread unfit for bitcoin discussion, but more better om exchages, secondly as everyone have suggested, you can make use of litecoin or the tron network to make your withdrawal because the two appears to be the cheapest and are faster as well, but i want to inform you also that bitcoin transactions isn't that worst, it cost less than a dollar for transaction fee to make a bitcoin transaction as well.
Hi, I would like to withdraw my coinbase balance.
Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
I recommend you to withdraw with Lite Coin as it's one of the cheapest way to withdraw your crypto from one exchange to other. There are some other coins with cheap fees but LTC is the top one when it comes to fees. And, it's accepted on almost every exchange so that's why go with LTC instead of any other option. I recommend you to avoid withdrawing with USDT because my experience hasn't been good with that coin. USDT is best option if you want to do P2P trading on platforms like Binance but it isn't a good choice for withdrawing purpose. If the other network is accepting LTC and is giving you a LTC deposit address then go for it.
Tron and LTC happens to have the lowest withdrawal fee on crypto exchanges, I tried to log in my coin base and check if I can scan through their fee again, but it happens that am restricted from access from my location. That’s by the way, if you can always convert your holdings to tron as the above have suggested or you can convert to USDT and withdraw through tron network, if I can remember correctly coinbase most times don’t expose their withdrawal fee until you have selected your preferred network, so if you have tried to withdraw with any given network and the fee is high you can stop the withdrawal and try out a different network until you get your desired fee.
To be at the safer side you can sell it to tron (trx) and withdraw it out if only you want to take it from that exchange to another exchange, I have never used coinbase exchange before I can't assure you that you can withdraw from that network you made mention, but why read their ToS to see if actually they enable such withdrawal. I actually tried to search on Google to know if they supported the network but I couldn't get any reliable Information on that network, hence the best is to withdraw LTC as is also cheaper faster to withdraw from exchange.
Hi, I would like to withdraw my coinbase balance.
Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
Is Litecoin still the cheapest way to withdraw?
And in case in the end I decide to withdraw my balance in usdt...I see that at the time of withdrawal it does not let me specify the usdt network...and the other exchange asks me to specify the network I am going to use to make the deposit...
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