FAQs
Coinbase has announced that it's removing XRP, Bitcoin Cash, and Ethereum Classic from its crypto wallet. The move comes in response to what Coinbase called “low usage” of the coins, which will be eliminated from the wallet as of January 2023.
Can I get my XRP off of Coinbase? ›
How do I withdraw my XRP from Coinbase? You can only withdraw it to another exchange and cash out there, or convert it to something coinbase supports and deposit that back to cash out. Send your xrp to uphold or voyager and sell it there.
What will happen to XRP on Coinbase? ›
What happens if Coinbase delists XRP? If you have assets on networks previously supported by the Coinbase wallet (BCH, ETC, XLM, XRP), you will no longer be able to view or trade those assets after February 20, 2023.
Should I take my crypto off Coinbase? ›
Coinbase has excellent security measures to ensure its users' funds are safe. However, we recommend moving your crypto assets off any exchange into a self-custodial hardware wallet.
What is the recovery phrase on Coinbase? ›
A recovery phrase (sometimes known as a seed phrase) is a series of words generated by your cryptocurrency wallet that gives you access to the crypto associated with that wallet. Think of a wallet as being similar to a password manager for crypto, and the recovery phrase as being like the master password.
Will Coinbase bring XRP back? ›
The crypto exchange had suspended trading of the token in January 2021 after the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. In a Thursday Twitter post, Coinbase said that XRP trading will be reenabled on the XRP network.
Why won't Coinbase let me cash out? ›
Funds on hold
When you use a linked bank account (ACH) to buy crypto or add cash to your account balance, the funds are placed on hold and won't be immediately available to send or cash out. Think of this like depositing a check to your bank account and having to wait for it to clear before you can remove the funds.
Will Coinbase win lawsuit? ›
While the decision is a partial win for Coinbase in what could be a lengthy and expensive court battle, it largely blesses the SEC's approach to cryptocurrency and agrees with other judges who have sided with the regulator.
Will XRP skyrocket? ›
If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs. However, like any investment, there are risks that every investor should consider before making a decision to invest.
Should I buy XRP right now? ›
Legal troubles could also be why XRP has fallen 7% this year (as of April 4). This compares unfavorably to the monster 53% gain of Bitcoin and the 54% rise of the overall crypto market. Perhaps investors are slowly losing interest. It's probably best to pass on XRP right now.
Preventing access to funds
In extremely rare circ*mstances, and only where required by law or authorized by the Coinbase User Agreement, Coinbase may block or "freeze" customer funds on our platform.
How to get money out of Coinbase? ›
To cash out your balance:
- Sign in to your Coinbase.com account.
- Select My Assets.
- Select your local currency balance.
- Select the Cash out tab and enter the amount you want to cash out.
- Select Transfer to and choose your cash out destination.
- Select Review.
- Select Withdraw cash to complete your transfer.
Coinbase exchange is a better option if you're looking to buy, sell, and trade cryptocurrencies. Meanwhile, Coinbase Wallet is a better option if you're looking to manage your own private keys and interact with DeFi protocols.
What is the 12-word secret phrase? ›
Your 12-word secret recovery phrase is the key to your wallet and controls access to all your funds, so write it down and keep it safe! If your device is lost or stolen, the only way to recover your funds is with your secret recovery phrase.
What if I forgot my 12-word phrase for Coinbase Wallet? ›
If you simply need to recover access to your account:
If you no longer have access to your recovery phrase, you will need to create a new account. Please note: Coinbase Wallet is a user-controlled, non-custodial product.
What is the 12 phrase in Coinbase? ›
Import an existing wallet. Import another wallet provider like MetaMask, Trust Wallet, and more into your Coinbase Wallet. Most Ethereum-based wallets have a 12-word recovery phrase, which acts as the key to your wallet. Recovery phrases allow you to transfer your assets from one self-custody wallet provider to another ...
How can I cash out my XRP? ›
How to sell Ripple
- Create your free Kraken account. Verify your details to get started.
- Send XRP to your Kraken account. Deposit XRP in your secure Kraken account.
- Sell Ripple instantly. Enjoy ultra-fast XRP transactions & withdraws.
XRP withdrawal
Please follow these steps to successfully withdraw XRP from your wallet: Navigate to your Wallet and click the Withdraw button. Select XRP wallet in the “Withdraw from” field. Select withdrawal address or add a new withdrawal address.
How do I get my XRP back? ›
Don't worry, your funds are not lost and can be recovered by the exchange. Please reach out to the exchange's support team directly. In your email, make sure to include the transaction ID in plain text (no screenshots). Please note that some exchanges will charge you a small fee to recover your XRP.
Does Coinbase Wallet allow XRP? ›
A self-custody wallet like Coinbase Wallet is required to purchase XRP 2.0. Coinbase Wallet is available as a mobile app and browser extension. Download Coinbase Wallet.
