Coinbase payment methods vary depending on the country. Most importantly, Coinbase collaborates with different local banks within a given locality and payment processors to determine the payment methods.
In specific countries, the only mode of payment accepted is debit and credit cards (MasterCard and Visa). You can only use these cards to make purchases, but funds cannot be returned to your card, so you can’t use them to sell digital currency.
Please take note of this impediment before selecting Coinbase if you’re based in a country that only allows debit and credit cards and no other form of payment option before taking up the digital currency. Similarly, note that you can still release your digital currency to your exchange or wallet from your account.
Why Can’t Coinbase Sell In Australia?
Because Coinbase has a limited option of only using cards for buys and not selling, it’s impossible to return funds to your card, which means you cannot use them to sell digital currency.
How Do I Sell My Coinbase Bitcoin In Australia?
Coinbase has availed ways for Aussies to buy Bitcoin through a debit card, but the only impediment is that you can’t sell Bitcoin back to AUD. This means that all Aussies that use Bitcoin will have to transfer their funds to a local exchange that complements withdrawals for an effective process.
Why Can I Not Sell My Bitcoin On Coinbase?
Coinbase has a clear structure to protect users and their funds, and hence from time to time, when the user agreement is in any way violated, Coinbase will restrict the buy and sell service on users’ accounts. Note that high fraud risk is not one of the reasons Coinbase may issue these restrictions.
How Do I Get My Money Out Of Coinbase In Australia?
To effectively secure your money from Coinbase, you simply need to sign in to your Coibase account and tap on the withdrawal feature in the balances section. A pop-up will inquire about the amount you wish to withdraw and the destination to which you’d like to dispatch these funds.
Is Coinbase safe in Australia?
Even though Coinbase is dominant in the US and has a wide range of users, its not been able to penetrate the Australian market and dominate as it has done in the US. The main reason is that it charges a ridiculous fee of 3.99% and only accepts debit card purchases and does not sell.
Why Am I Unable To Cash Out On Coinbase?
If you’ve ever used Crypto or injected funds in a local currency through a linked bank, you probably know how Coinbase works during cash out. Coinbase cash out is not immediate through a linked bank due to certain policy restrictions.