Regardless of the cause that made you change your mind, in today’s article, we discuss closing the Coinbase account. Before joining CoinCodex, Emma had been covering stories at the intersection of culture, entertainment, and technology. Upon her friend’s recommendation to invest in Bitcoin in 2015, she became interested in all things crypto. When she is not writing reviews or guides about DeFi and other crypto products and services, Emma prefers to spend her time in the company of her friends and family. More information on Coinbase’s usage of data both before and after deleting an account can be found in its Privacy Policy. CaptainAltcoin.com does not offer any sort of financial or investment advice.
While they may access the cryptocurrency exchange on their mobile device’s browser, the Coinbase app does not allow them to delete their accounts. We have also seen the difference between closing down a report and disabling it. Deleting your Coinbase account can be done by doing the straightforward process above. Your Coinbase Pro account is linked to your main account – so when you close one, the other one is closed automatically. Make sure you don’t have any balances left or pending activity on your Pro account before you close it. As a Coinbase user, you may have different cryptos in your account.
So, before closing your account, make sure you transfer all your assets to a non-custodial wallet, an external wallet, or hardware wallets. Also, make sure to cancel any active recurring cryptocurrency orders. This will ensure that there will be no issues surrounding your account closure (if you forgot about any open orders, Coinbase will notify you about them before you delete your account). Some people might have opened a Coinbase Pro account and forgot about it, leaving some cryptocurrencies there. Before you close coinbase account, make sure you don’t have any bitcoin balance or any other cryptocurrencies on Coinbase Pro.
Can I close my Coinbase account and re-open at a later time?
So even if you have an issue, you don’t have to wait days to get an answer. You will be asked for the Coinbase password again, followed by another button called ‘Close account’. You value your privacy, and the fact that Coinbase requires your ID and other information before registering might not be what you wish. That’s not Coinbase’s fault – those are legal obligations that Coinbase and other Financial institutions need to comply in order to be able to serve its customers and prevent fraud.
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There are many issues surrounding a centralized exchange – so in some cases, it might be better to manage your funds yourself. You may control is a cpa the same as an accountant there is a difference. your cryptocurrency holdings by managing your private keys and wallets independently. Perhaps youwish to store your assets in hardware wallets or other decentralized storage solutions. That experience helped them secure their accounts and safely connect and trade through your bank account.
Can an Coinbase account be deleted?
Other quality Coinbase alternatives are Kraken, Gemini and Bitstamp. To prevent fraud and due to legal obligations, all of the centralized exchanges will have a KYC procedure that you need to do. Since you’ve deleted your Coinbase account, you can check some of the best Coinbase alternatives. Congratulation, you have successfully closed your Coinbase account without the need to contact Coinbase’s support team.
On the other hand, deleting your Coinbase account is a permanent and irreversible process. They have a support number that you can call if you detect suspicious activity in your account. If you detected suspicious activity in your account, it’s best to disable it first. If there are still funds in your account, you won’t be able to close it.
FIND ACCOUNT ACTIVITY TAB
However, there may come a time when you want to close your Coinbase account for various reasons. This guide will walk you through the simple steps to close your Coinbase account if you choose to cease using their platform. Coinbase is a popular cryptocurrency exchange platform that allows users to buy, sell, and store various cryptocurrencies. However, there may come a time when you decide to delete your Coinbase account for personal reasons or to explore other platforms.
Coinbase is now more cautious in blocking suspicious accounts to make that users’ funds and information are safe. You can delete a Coinbase account anytime you want by doing the steps about and pressing the ‘Close my account’ button. If any of this won’t solve it, you can contact Coinbase’s customer support team with ‘Account Deletion’ as the subject, or ‘Delete Coinbase account’. If you’ve used Coinbase regularly to buying bitcoin, you might have set something that’s know as recurring orders. Before you proceed with the account closure process, make sure you cancel recurring orders. So, if you have any rewards or other promotional balances, redeem, or transfer them before closing your account.
Enter the 6-digit code from your authenticator app
- If there are still funds in your account, you won’t be able to close it.
- We highlighted the best practices which will serve you best for future endeavors.
- For settling disputes and combating fraud, some personal information will be retained by Coinbase for as long as five years minimum or longer than that if it’s still necessary to hold on to it.
- If you don’t want to keep your crypto on an exchange due to security concerns, then using a cryptocurrency hardware wallet is arguably the best alternative.
The popup message is a confirmation that you want to close your Coinbase account. Click on “Close Account” to proceed to the next step to delete your Coinbase account. On the settings page, you’ll land on the “Profile” tab by default. At the bottom of the menu, you’ll see other options including “Settings”, “Reports”, “Help”, and “Sign out”. Once you’re on the website, click on the menu icon, then log in to your account.
Also, make sure that your account balance is zero and that you don’t have any outstanding issues and orders. Make sure to transfer all your funds to an external wallet outside Coinbase and leave your account empty before closing your account because once you close it, it’s irreversible. Some people are no longer interested in storing cryptocurrencies and give up on them altogether. On the other hand, some may just no longer be interested in the services Coinbase offers and may choose to explore other alternatives to Coinbase. It is best to review and revoke any active API keys or third-party applications with access to your Coinbase account, thus ensuring the most security upon closing your account. And that’s a good thing, recently a lot of people have proceeded with an account close on Coinbase and other CEXs due to FTX.com’s failure.
If you don’t want to keep your crypto on an exchange due to security concerns, then using a cryptocurrency hardware wallet is arguably the best alternative. Check our comparison of Ledger Nano X vs. S Plus to see which cold storage solution might be best for you. In addition, you can transfer your crypto directly to another exchange. We suggest Binance, which is widely considered one of the best crypto exchanges due to its impressive feature set and a large number of supported cryptocurrencies. Once all of your funds are withdrawn, you will be able to delete your account. Before you close your account, make sure to withdraw all of your funds first.
If your interface below the ‘Close account’ part looks the same as ours, you’re free to close your Coinbase account . Otherwise, read it again as you might have some funds or some account activity that you forgot about it. Coinbase usually has a checklist where you can verify if you have remaining funds or if you need to withdraw something to have a zero balance left. Scrolling down in the profile settings, you can see the option ‘Close Account’. That’s the button that you need to click to delete your Coinbase account.
