How to Deposit Money into Coinbase from a PC or Mobile Device

Coinbase has recently established itself as one of the most popular exchanges for buying and selling cryptocurrency. It offers a wide variety of coins at decent pricing with high liquidity, making it easy to trade between digital currencies or cash out.

How to Deposit Money into Coinbase from a PC or Mobile Device

But what if you want to put some fiat currency (USD) into your Coinbase account? How do you go about it?

This article will walk you through the process of depositing funds into your Coinbase account and set you up nicely for trading.

How to Deposit Money in Coinbase on a PC

If you’re in the U.S., you can fund your Coinbase account with money via a wire, ACH transfer, or PayPal. Let’s see how each option works:

(a) Bank-Wire Transfer

A wire is the electronic transfer of money from one bank account to another. When you execute a bank-wire transfer, you effectively instruct your bank to transfer the cash from your account to your Coinbase account.

Here’s how to initiate a wire transfer from your bank account to your Coinbase account:

  1. Open your browser and visit the official Coinbase website.
  2. Enter your credentials to sign in.
  3. Once you’ve signed in, click on “Trade” to navigate to the trading section of your account.
  4. Under “Wallet Balance,” click on “Deposit.” The “Wallet Balance” tab is on the left side of your screen.
  5. Click on “Currency Type” and select “USD” from the dropdown menu.
  6.  Click on “Wire Transfer.” You’ll then be provided with a unique reference code or a personal account number to help you initiate the transfer.
  7. Follow the on-screen instructions to completer the process.

Once you’ve initiated a bank-wire transfer, the money is credited to your Coinbase account within 24 hours. In fact, if you initiate the process by 1 p.m. PT, the money will hit your account on the same day.

On the downside, each wire transfer will cost you $10.

In addition, Coinbase will only accept wires if the following conditions are met:

  • The name of the bank wire must match the name on your Coinbase account. This means you can’t initiate a wire transfer from someone else’s account
  • The wire must be initiated from a U.S.-based bank account
  • The wire must be initiated from an account already linked to your Coinbase account
  • The wire transaction must include your preference code or Coinbase account number

(b) ACH Bank Transfer

If you aren’t comfortable paying $10 to deposit funds into your Coinbase account via a wire transfer, you could try an ACH bank transfer that’s 100% free. But what is it, and how does it work?

An ACH (Automatic Clearing House) bank transfer is an electronic system used to move money between banks. Unlike a wire, an ACH transfer doesn’t utilize your bank’s in-house transfer system. Instead, the money flows through a licensed, external clearinghouse.

  1. Open your browser and visit the official Coinbase website.
  2. Enter your credentials to sign in.
  3. Link your bank account to your Coinbase account.
  4. Click on “Trade” to open your transaction management section.
  5. Select “Deposit” from the “Wallet Balance” submenu.
  6. Click on “Currency Type” and select “USD” from the dropdown menu.
  7. Click on “Bank Account.”
  8. Select your bank account from the dropdown menu. Note that the bank account will only appear here if it’s already linked to your Coinbase account.
  9. Enter the amount you’d like to deposit.
  10. Click on “Deposit USD” to complete the process.

And that’s it. The only downside is that ACH bank transfers take three to five days. This method won’t work if you want to deposit funds and start trading on the same day.

(c) PayPal

Coinbase initially allowed customers to top up their accounts using either a bank-wire transfer or an ACH transaction. These days, you also have the option to add funds straight from your PayPal account.

Here’s how it works:

  1. Link your PayPal account to your Coinbase account.
  2. Click on “Trade.” This will open your transaction management section.
  3. Click on “Deposit” under the “Wallet Balance” submenu.
  4. Click on “Currency Type” and select “USD.”
  5. Click on “PayPal.”
  6. Follow the on-screen instructions to complete the process.

How to Deposit Money in Coinbase From an iPhone

If an iPhone is your mobile device of choice, you can use it to deposit funds into your Coinbase account. iOS devices support the following deposit methods:

(a) Bank-Wire Transfer

To wire funds to your account:

  1. Open your Coinbase mobile app and sign in.
  2. Link your bank account to your Coinbase account.
  3. Open the “Portfolio” page.
  4. Tap on your USD wallet.
  5. Tap on “Add Cash.”
  6. Select “Wire Transfer” from the available options.
  7. Follow the on-screen prompts to complete the process.

(b) ACH Transfer

The Coinbase app for iPhones also supports ACH funds transfer. Here’s how this option works:

  1. Open your Coinbase mobile app and sign in.
  2. Link your bank account to your Coinbase account.
  3. Tap on “Portfolio.” This should open a new section where you can manage your fiat wallet.
  4. Tap on your USD wallet.
  5. Tap on “Add Cash.”
  6. Select “Bank Account” from the available options.
  7. Follow the on-screen prompts to complete the process.

(c) PayPal

To deposit via PayPal:

  1. Open your Coinbase mobile app and sign in.
  2. Link your PayPal account to your Coinbase account.
  3. Open the “Portfolio” page.
  4. Tap on your USD wallet.
  5. Tap on “Add Cash.”
  6. Tap on “PayPal.”
  7. Follow the on-screen instructions to complete the process.

How to Deposit Money in Coinbase From an Android Phone

If you’ve opened a Coinbase account via its dedicated Android app, you can easily add cash to your account in preparation for crypto transactions. As with iPhones, you can do this via a bank wire transfer, ACH transfer, or PayPal.

(a) Bank-Wire Transfer

To add cash via a bank-wire transfer, here’s what to do:

  1. Open your Coinbase mobile app and enter your credentials to sign in. If you don’t have the app, you can get it on Google App Store for free.
  2. Link your bank account to your Coinbase account.
  3. Once you’ve linked your bank account, open the “Portfolio” page.
  4. Tap on your USD wallet.
  5. Tap on “Add Cash.”
  6. Select “Wire Transfer” and then follow the on-screen instructions to complete the process.

(b) ACH Transfer

Coinbase is also available for Android devices. The app supports ACH funds transfer, meaning you can move money between your bank account and Coinbase in seconds. Here’s how:

  1. Open your Coinbase mobile app and sign in.
  2. Add your bank account as a payment method to your Coinbase account.
  3. Tap on “Portfolio.”
  4. Tap on “USD.”
  5. Tap on “Add Cash.”
  6. Select “Bank Account.”
  7. Follow the on-screen prompts to complete the process.

(c) PayPal

To add cash via PayPal:

  1. Open your Coinbase mobile app and sign in.
  2. Link your PayPal account to your Coinbase account.
  3. Tap on “Portfolio” to open your cash management section.
  4. Tap on your USD wallet.
  5. Tap on “Add Cash.”
  6. Tap on “PayPal.”
  7. Follow the on-screen guide to complete the process.

How to Link a Payment Method on Coinbase?

As you may have noted, you must link your preferred payment method to your Coinbase account before you can make a deposit successfully. For wire and ACH transfers, you need to link your bank account, while for PayPal deposits, you have to link your PayPal account.

The good thing is that adding any of these payment methods is straightforward.

To add a payment method while using a PC, do the following:

  1. Open your browser and visit the official Coinbase website.
  2. Sign in to your Coinbase account and click on “Payment Methods.”
  3. Click on “Add a payment method.”
  4. Select the type of account you want to add and follow the on-screen prompts to complete the process.

To add a payment method via the Coinbase mobile app:

  1. Open your app and navigate to settings. To do so, click on the three horizontal lines in the top right corner.
  2. Tap on “Payment Methods.”
  3. Select the type of account you intend to link from the list of the available options.
  4. Follow the on-screen instructions to verify your new payment method.

Additional FAQs

Is There a Fee to Deposit Money Into Coinbase?

Some payment methods attract a fee, but some don’t. For example, adding cash via a wire transfer attracts a flat $20 fee, but there’s no charge if you deposit via an ACH transfer or PayPal.

How Long Does It Take to Deposit Into Coinbase Account?

Wire transfers are processed within 24 hours, but if you initiate the transfer before 1 p.m. PT, the money will be deposited into your account on the same day.

ACH transfers take three to five days, but PayPal deposits occur instantly.

Does Coinbase Allow Deposits from Credit Cards?

Currently, the Coinbase-PayPal transfer system doesn’t support deposits to credit cards prepaid cards, or business account cards. But, luckily, these days, you also have the option to add funds straight from your PayPal account. However, your PayPal account must be linked to your bank account.

Add Cash and Unlock Orders

Coinbase offers a simple way to buy, sell, and store cryptocurrency. If you’re interested in investing or trading Bitcoin, Ethereum, Litecoin, or any other digital currency on the market today, you just need to add some cash to your account and start placing orders.

Do you have a Coinbase account? Have you tried adding cash using any of the methods discussed in this article? We’d love to know how everything went.

Feel free to share your experience in the comments section below.

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