How to Delete Coinbase Account 2024
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By Farrukh Mushtaq
Farrukh Mushtaq
See author profileFarrukh Mushtaq, a digital marketer at PureSquare, possesses a keen interest in cybersecurity and enjoys writing about it. With several years of experience in the digital marketing industry, he brings expertise and passion to his work.
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18 April 2024
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16 mins read
Are you considering quitting Coinbase and would like to know how to remove your Coinbase account completely? This is a big decision that will affect your Bitcoin journey, so consider it carefully.
This complete blog will walk you through the steps of permanently deleting your Coinbase account, highlighting important details and considerations at every turn. Also, enhance your privacy with PurePrivacy.
We can help you whether you're searching for better solutions, concerned about the safety of your account, or just excited to learn about new cryptocurrency-related prospects.
What Is Coinbase?
Coinbase is a safe online marketplace for purchasing, trading, transferring, and storing cryptocurrencies. Their goal is to provide an open financial system for all nations and to be the biggest international company for assisting individuals in exchanging cryptocurrency into and out of their local currency.
- They make it simple to buy and trade cryptocurrency.
- Coinbase allows you to send and receive cryptocurrency between online crypto accounts, friends, and retailers for free.
- You don't need to worry because they take care of backups and security.
- They are a "one-stop shop" since they provide an exchange, merchant tools, and their primary balance service through a user-friendly interface.
- Numerous apps are being developed using an API on the Coinbase platform.
- Customers are liable for minor fees on external transactions. Coinbase customers can always send money to each other for free.
Why Is It Important to Delete a Coinbase Account?
With numerous exchanges popping up and so many cryptos evolving, you may close your Coinbase account for a variety of reasons, including:
Security concerns
Perhaps you want to cancel your Coinbase account due to a security breach, particularly in light of the recent "0ktapus" incident in which an employee's login details were compromised by a hacker, allowing them to remotely access Coinbase's systems.
And it's not the only thing. Coinbase is a CEX that is vulnerable to hacking. An unsupervised wallet that stores your private keys is similar to an unhackable bank vault, possibly even more secure.
Privacy Preferences
You respect your privacy, and knowing that Coinbase wants your ID and other details before registering may not be what you want.
That isn't Coinbase's fault to help its customers and avoid theft, Coinbase and other financial institutions have to follow certain legal requirements.
A virtual bank vault is what your Coinbase account is like. You are aware of what you have in it, and you may get to it any time you want, but the funds are owned by Coinbase. Remember that Your crypto assets are not your keys.
Possible Self-Management of Cryptocurrency
You can exercise free control over your cryptocurrency holdings by managing your wallets and private keys. Make sure to keep your valuables in decentralized storage systems like hardware wallets.
And that's excellent since, as a result of FTX.com's failure, many users have recently closed their accounts on Coinbase and other CEXs.
It may be preferable in certain circumstances to handle your money management because of the numerous problems associated with a centralized exchange.
Concerns About Coinbase Support
In comparison to competitors such as Binance or Crypto.com, Coinbase's customer service is insufficient.
Prolonged waiting times take place, and important problems such as transmitting money across the incorrect network are frequently unresolvable. This might end up in account closures for numerous people.
Things to Consider Before Deleting Your Coinbase Account
It's crucial to take certain actions to guarantee an effortless transfer and protect your money before terminating your Coinbase account. The following steps are suggested to be taken before deleting your account:
Protect Your Digital Investments with Coinbase
You might have a variety of cryptocurrencies in your Coinbase account as a user. Therefore, make sure you move all of your money to hardware wallets, external wallets, or non-custodial wallets before terminating your account.
Check Account Security
To ensure maximum security when terminating your Coinbase account, it is best to examine and remove any active API keys or third-party applications that have access to your account.
Keep Track of Transaction Records and Receipts
Downloading and storing transaction logs, invoices, and other important account data for future use or tax documentation is an additional security measure. Coinbase gives you a chance to use your account statements, which is beneficial for preserving records.
Terminate All Associated Payment Methods
To avoid any future charges and maintain cyber security, it is essential to remove any related payment methods, such as bank accounts or credit cards from your Coinbase account.
Exchange and Redeem Your Credits or Rewards
Coinbase encourages learning and earning. Therefore, before terminating your account, use any rewards or other promotional amounts you may have or transfer them.
Visit Coinbase Pro to Find Cryptocurrency Assets
Some individuals open Coinbase Pro accounts and then forget about them, leaving some cryptocurrency there. Make sure you have no Bitcoin or other cryptocurrency balance on Coinbase Pro before closing your Coinbase account.
Verify Any Recurring Orders
If you have been a frequent user of Coinbase for Bitcoin purchases, you may have established what is known as recurring orders. Make sure you cancel any recurring orders before moving further with the account termination process.
It's hardly common, but if you fail to cancel recurring orders, your credit card or associated bank account might get charged.
How to Delete Coinbase Account
It is not possible to close your account using the Coinbase mobile app. It needs to be completed using your desktop browser and the web. Let's take a look at how to permanently remove your Coinbase account.
- Go to the official website and enter your login information.
- Go to your Coinbase profile.
- Now enter your Coinbase password to log in and click on your profile icon in the top right corner.
Click on your profile icon, and something like this should appear:
You can initiate the deletion procedure by clicking on "Manage your profile," which is located above the user settings.
- Navigate the bottom section of the profile page.
In the profile settings, you may find the "Close Account" option by scrolling down. You must click that button to remove your Coinbase account.
You will be prompted to enter your Coinbase password once again before seeing the "Close account" button.
- Close your account.
You can close your Coinbase account if this is what you see below in the "Close account" section like this one. If not, go back and review it since you may have forgotten about some funds or account activities.
- After you're done, click "Close my account."
Congratulations! You've closed your Coinbase account successfully and without
having to get in touch with Coinbase support.
How Can I Remove My Coinbase Account On iOS?
To remove a Coinbase account on iOS, take the following actions:
- Select Profile & Settings from the home screen.
- Click Close Account from the Account menu.
- After reading the details, follow the next instructions.
- In addition, Coinbase may ask you for an explanation before closing your account.
- From the drop-down option, select the most relevant explanation, or provide further details if needed.
What Occurs if You Close Your Coinbase Account?
You will lose access to your Coinbase account for Bitcoin transactions and balances and the ability to purchase or sell cryptocurrencies when you close your account.
For the highest level of protection, be sure to remove the Coinbase App from your phone afterward.
Protecting Your Online Presence with PurePrivacy
Everything you need in one convenient set to protect your online identity. It is critical to protect your personal information in the ever-changing digital environment.
You can take charge of your online persona with PurePrivacy and protect yourself against prying eyes, identity theft, and cyberattacks. Put your trust in us to deliver the best peace of mind and digital protection.
How Does It Operate?
Managing Social Media Privacy
Examine and pinpoint weak points in social media profiles to enhance privacy configurations.
Adaptable Security Settings
Adapt your security settings based on particular recommendations.
Suggestions with a single tap
Simplify your use of suggested security measures by applying them with a single tap.
Constant Updates
Learn about any new privacy options available on social networking sites as quickly as possible.
Tracker Blocker
By stopping third-party trackers from connecting with their websites and enhancing your online safety, tracker blockers safeguard user data.
Users can disable advertisements and receive security monitoring from other providers with the help of this application.
The Main Components
Data Security:
Stop the exchange of information across domains.
Blocking websites and domains:
Preserve your privacy by limiting access to specific websites and domains.
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Simplify your online presence today
With PurePrivacy, make sure all your personal data remains safe without a hassle!
Frequently Asked Questions (FAQs)
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Can I open two accounts with Coinbase?
A Coinbase account that has been deleted cannot be retrieved. For more than five years, deleted accounts have been kept in the database to abide by legal requirements and stop fraud. To make a new account, you will need new login credentials because you cannot use the same phone number or email address twice.
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Does Coinbase remove accounts that are no longer active?
A Coinbase account that is inactive for a longer period may be subject to Coinbase's policies, which include inactivity penalties and account closure.
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Why is Coinbase cancelling accounts?
Some typical reasons include Terms of Service violations: Coinbase has the right to terminate accounts for violating its terms of service, which include participating in unlawful activities including money laundering, fraud, or other banned activity.
Make Wise Decisions and Stay Protected
It's important to close your Coinbase account carefully and to take precautions to safeguard your money and personal data.
By taking the suggested steps, which include taking money out of your account, checking account security, and keeping transaction records, you can make sure the transfer goes smoothly.
Your data is kept in the Coinbase database after your account is deleted. Use better options, such as PurePrivacy, to keep you safe online and erase your data with your permission.
