Traders using Coinbase for trading Cryptocurrencies must be aware of the instant withdrawal process. Coinbase being one of the most popular trading platforms, you might sign up with the brokers. Transactions through Coinbase take place between your bank account, credit card or debit card on one hand, and Coinbase Vault on the other.
At times, you might notice Coinbase withdrawal not working. As a trader, you might ponder about what happened to your funds. However, do not worry, as digital currencies remain safe and secure in Coinbase Vault. It only takes around 48 hours for the transaction to take place. Check your bank account, or cards after 48 hours to verify whether or not the amount has been transferred. In case you still find the transaction pending, you should call the customer support desk. Coinbase also sends confirmation mails to the users once the withdrawal request is processed successfully.
Security mechanism in Coinbase: Why does it take 48 hours for withdrawal?
Your funds remain secure when you use Coinbase Vault to store the same. Although you store digital currencies here, the assets remain in a form of cold storage. This protects it from hackers and other online threats. When a trader places a withdrawal request, Coinbase does not credit the amount instantly for security purposes. Instead, you need to wait for a couple of days, so that the amount securely reaches your credit or debit cards, or bank account. Considering the high security mechanism involved in the storage of large amount of digital assets, it is logical to wait for 48 hours.
Authentication emails
The process also involves an authentication email, and the user is supposed to receive another confirmation mail after the request is processed. In case you find it difficult to withdraw your funds, you may call the helpline number. The support desk of Coinbase remains open round the clock.
