Withdrawing XRP from Coinbase After Suspension: A Step-by-Step Guide

Coinbase, a popular cryptocurrency exchange, suspended trading in XRP on January 19, 2021, due to the SEC’s lawsuit against Ripple Labs. This led to a halt in selling, trading, or converting XRP to fiat currency and withdrawing it to a linked bank account. However, users could still view their XRP balance, deposit XRP to their account, and send XRP to a wallet outside their account. In this article, we will discuss the steps to withdraw XRP from Coinbase after the suspension, essential considerations, and additional tips.

Steps To Withdraw XRP from Coinbase:

Step 1: Log in to your Coinbase account

1. Navigate to the Coinbase website or open the Coinbase app on your mobile device.
2. Enter your email address or phone number and password to sign in to your account.

Step 2: Navigate to the “Wallets” section

1. Once logged in, locate the “Wallets” section on the Coinbase website or app.
2. Click on “Wallets” to access your account’s wallets.

Step 3: Select “XRP”

1. In the wallets section, locate the “XRP” wallet or search for it using the search bar.
2. Click on “XRP” to open the XRP wallet.

Step 4: Click on “Withdraw”

1. In the XRP wallet, locate the “Withdraw” button.
2. Click on “Withdraw” to initiate the withdrawal process.

Step 5: Enter the destination wallet address

1. In the withdrawal form, enter the address of the wallet where you want to send the XRP.
2. Make sure to double-check the address for accuracy to avoid sending the XRP to the wrong destination.

Step 6: Enter the amount of XRP you want to withdraw

1. In the withdrawal form, enter the amount of XRP you want to withdraw from your Coinbase account.
2. Confirm the amount before proceeding to the next step.

Step 7: Confirm the withdrawal

1. Review the withdrawal details, including the destination wallet address and the amount of XRP to be withdrawn.
2. Click “Withdraw Now” to confirm the withdrawal and initiate the transfer process.

Step 8: Monitor the withdrawal

1. After confirming the withdrawal, wait for the transfer to be processed.
2. You can track the status of the withdrawal in your Coinbase account or by using a blockchain explorer.

Read Also: How to stake cryptocurrency on Coinbase

Here are some essential considerations when withdrawing XRP from Coinbase

1. Ensure you have a valid XRP wallet address to receive the funds.
2. Double-check the withdrawal amount and address before confirming the transaction.
3. Withdrawal fees may apply, so consider the cost before initiating the transfer.
4. Withdrawals may take some time to process, depending on network congestion and other factors.

Additional Tips

• Monitor the XRP market and consider the current price trends before withdrawing.
• If you are unsure about the withdrawal process, consider seeking advice from a financial advisor or experienced cryptocurrency user.
• Keep your XRP balance in a secure wallet outside of Coinbase to avoid potential delisting or suspension issues.

We hope this comprehensive guide streamlines your XRP withdrawal experience from Coinbase after the suspension.

Conclusion

Withdrawing XRP from Coinbase after the suspension can be a straightforward process if you follow the steps and considerations outlined in this article. It is essential to keep your XRP balance in a secure wallet and monitor the market trends before initiating a withdrawal. Always double-check the withdrawal amount and address to avoid potential errors or losses.