Nasdaq-listed cryptocurrency exchange Coinbase is an entry point into the cryptocurrency space for many who may be willing to venture onto other platforms after starting there. For those who want to clean up their accounts, figuring out how to delete a Coinbase account can be a hassle.
Users may have a wide variety of reasons for wanting to delete their Coinbase accounts, including simply having fewer accounts on cryptocurrency exchanges, disagreeing with some of the positions the exchange has taken, or simply worrying about the security of their cryptocurrency exchanges. your assets and data with the platform.
As the world of cryptocurrencies grows, users may find other platforms and opt for transfer crypto from Binance to Coinbase before clearing their presence in the space, or they may have sold all their assets and want nothing more to do with crypto.
The good news is that Coinbase allows users to delete their accounts quite easily.
How to delete a Coinbase account
Before going into the step-by-step process to delete a Coinbase account, it is important for users to first ensure that they do not have any funds on the cryptocurrency trading platform. IF they do, it is recommended that they move them to another cryptocurrency exchange or wallet that they control.
It is also important to note that deleting a Coinbase.com account will automatically delete a Coinbase Pro account as well. While the exchange is merging both platforms into one, it is important to understand what will happen.
To delete a Coinbase account, users must first visit their profile pages on the cryptocurrency exchange from a web browser. In the menu that will appear, users will have the option to close their accounts. After reviewing it, your Coinbase account is deleted.
Also read: Coinbase Chief Legal Officer Explains Why User Funds Are Safe Despite All The FUD
What happens to funds left in a Coinbase account when it is deleted?
Coinbase does not allow users to delete their accounts if they still have funds in them. When users with balances in their accounts try to delete their Coinbase accounts, the exchange prevents them from doing so.
If a balance is too small to sell on the market and/or withdraw from the cryptocurrency trading platform, users have three options on what to do with it:
- Send the balance to another Coinbase user;
- Donate the funds to GiveCrypto.orga non-profit organization that distributes cryptocurrencies to people living in poverty;
- Lose the funds and allow Coinbase to zero out any remaining balances.
The third option can be done by contacting base of coins directly and asking the exchange to close the user’s account. The request must explicitly state that the user is losing any funds left in their Coinbase account.
Can a Coinbase account be deleted through their mobile app?
Users can only close their Coinbase accounts through a web browser. While they can access the cryptocurrency exchange on their mobile device’s browser, the Coinbase app does not allow them to delete their accounts.
It is worth noting that deleting the Coinbase app does not delete your Coinbase account, but simply removes the app from your mobile device. Reinstalling the app will allow you to log in with your old credentials.
The process required to delete a Coinbase account is straightforward, as outlined above.
Will Coinbase retain user data after account deletions?
According to the cryptocurrency exchange, it will retain “some of your personal information for a minimum of five years or as needed to comply with our legal obligations.” The exchange cites fraud prevention and possible dispute resolution as reasons for keeping user data.