Crypto

How to Delete Coinbase Account: A Step-by-Step Guide

Understanding how to delete a Coinbase account may be difficult for people looking to organize their accounts. Fortunately for you, there is help here, just keep reading.

Many people can enter the cryptocurrency market through Coinbase, and after doing so, they might be willing to go on to other platforms. 

Users may desire to delete their Coinbase account for a variety of reasons.

This can include, having fewer accounts on cryptocurrency exchanges, or just being concerned about the security of their assets and data on the platform.

Users may choose to transfer cryptocurrency from Binance to Coinbase before clearing up their presence in the area.

This might be a result of expands of the cryptocurrency market or they may have sold off all of their assets and no longer want anything to do with cryptocurrencies.

The good news is that users can easily delete their accounts from Coinbase.

What is Coinbase?

Coinbase is a cryptocurrency exchange that makes it simpler for users to purchase, sell, and store bitcoin and other cryptocurrencies. 

It was developed in 2012 specifically for trading bitcoin. They have, however, also permitted other cryptocurrencies to meet their decentralized requirements.

How to Delete a Coinbase Account

how to delete coinbase account

Users must first make sure they have no funds on the bitcoin trading site before following the step-by-step instructions for deleting a Coinbase account. 

If they do, it is advised that they either transfer them to a wallet under their control or to another cryptocurrency exchange.

Knowing what will happen is important as the exchange merges the two platforms into one.

Users must first visit their personal pages on the bitcoin exchange through a web browser in order to delete a Coinbase account. 

Also, users will have the opportunity to close their accounts on the menu that will appear. Their Coinbase account gets wiped off after they have gone through everything.

If a person still has money in their Coinbase account, they cannot erase it. 

Users trying to deactivate their Coinbase accounts while still having money are prevented from doing so by the exchange.

More so, users are left with three options if a balance is too little to withdraw from the bitcoin trading platform or sell on the open market:

  • Transfer the money to an additional Coinbase user;
  • Donate the money to GiveCrypto.org, a nonprofit that provides cryptocurrency to the poor;
  • Give over the money and let Coinbase remove any outstanding balances.

The final option entails getting in touch with Coinbase and requesting that the exchange close the user’s account. 

However, the request must clearly explain that the customer is giving up any remaining funds in their Coinbase account.

Factors Why People Delete Their Coinbase Accounts

There are a number of reasons why some individuals prefer using a superior cryptocurrency exchange rather than solely depending on Coinbase

 This will help you understand why so many people are wanting to deactivate their Coinbase accounts. These are the elements:

  1. In terms of market value, name recognition, and liquidity, Bitcoin has developed into an unstoppable lead over other cryptocurrencies. 

And Bitcoin will undoubtedly surpass and amass between 91% and 99% of all future value in the future.

  1. The goal of Coinbase is to prevent you from holding onto your bitcoin and other cryptocurrencies pointlessly. 

Every aspect of Coinbase’s market and the product is tailored to allow you to continually trade more assets and more frequently. 

By doing this, Coinbase profits from what you are doing, and in line with the philosophy of many other casinos, they would like their patrons to spend more time on their gaming floor.

  1. 94–96% of trades lose money. Career professionals will gradually rule your environment and eventually take you over unless you eat cryptocurrency for lunch. 

You wouldn’t want to sit next to the finest poker players in the world, just like in poker. Likewise with trading. 

By simply purchasing and holding your bitcoin or other cryptocurrencies, you are at best.

Can You Delete Coinbase Account via its Mobile App?

Only a web browser can be used to delete user accounts on Coinbase. 

They can use the mobile device’s browser to visit the cryptocurrency exchange, but they are unable to deactivate their accounts using the Coinbase app.

It’s important to note that removing the Coinbase app only removes the program from your mobile device and does not delete your Coinbase account. 

If you reinstall the application, you can log in using your previous credentials. As previously said, the procedure needed to remove a Coinbase account is simple.

Will Coinbase Retain Users’ Data After Account Deletions?

trading platform

The cryptocurrency exchange states that it will keep some of your personal information on file. This information will last for at least five years or as long as it takes to fulfill its legal requirements. 

The exchange offers reasons for keeping user data fraud prevention and potential dispute resolution.

The Privacy Policy of Coinbase has more details on how the company uses data both before and after canceling an account.

What are the Alternatives of Coinbase?

This is no longer up for discussion. More and more businesses have entered the cryptocurrency market over time.  And many have developed alternatives to relying solely on Coinbase for Bitcoin purchases. 

If you do thorough research, you will find that there are many digital currency exchanges that provide cheaper costs.

Also, they have a strong dedication to providing you with the greatest knowledge you could possibly need to rule the crypto world.

Conclusion

It’s simple to delete a Coinbase account, but you need to understand how it functions better. 

As we’ve previously stated, it would be advisable to sell any altcoins and convert them into bitcoins before permanently canceling your Coinbase account. 

Before you begin the deletion procedure, make sure you have a new bitcoin address to which you can send your money.

These days, more and more people are using bitcoins and other cryptocurrencies. Additionally, trading various cryptocurrencies will be simpler with Coinbase. 

With the resurrection of the cryptocurrency market, more and more businesses are emerging in the exchange sector to provide you with greater features at a lesser cost.

FAQs

Log in to the account profile page for Coinbase. On the Activity tab, click. At the bottom of the page, click Close Account. Type your password and click Close Account.

Yes, you can.

Before your account may be canceled, your balance must be $0.

No, you can’t.

You won’t be able to access your money, and your account will be permanently canceled.

Yes, it is.

Definitely, it can.

Coinbase wallet

Heartz Team.

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