What happens to your cryptocurrency holdings when you close your Coinbase account?

3 answers

• Feb 18, 2022 · 3 years ago
  When you close your Coinbase account, your cryptocurrency holdings are not lost. However, you will no longer have access to them through Coinbase. It is important to note that Coinbase is a custodial wallet, which means that they hold the private keys to your cryptocurrency. Therefore, when you close your account, Coinbase will retain control over your funds. If you want to regain control of your cryptocurrency, you will need to transfer them to a different wallet where you have full control over the private keys.
  519260
• Feb 18, 2022 · 3 years ago
  Closing your Coinbase account does not automatically transfer your cryptocurrency holdings to another wallet. It is your responsibility to transfer your funds to a different wallet before closing your Coinbase account. If you fail to do so, you may permanently lose access to your funds. Make sure to research and choose a reliable and secure wallet to transfer your cryptocurrency to before closing your Coinbase account.
  422141
• Feb 18, 2022 · 3 years ago
  When you close your Coinbase account, your cryptocurrency holdings are not sold or converted into fiat currency. Coinbase does not have the authority to sell or convert your funds without your consent. If you want to sell or convert your cryptocurrency, you will need to do so manually before closing your Coinbase account. Coinbase provides a platform for buying and selling cryptocurrency, but it is up to the user to initiate and execute any transactions.
  458115