![]() ![]() We've been in a bear market (downward price movement) for awhile and haven't seen totally new people in a minute. Sorry for the people saying this question is basic. We are generally a friendly helpful bunch. Note that you need to pay network fees, so you need to leave a small amount of ether in your wallet to pay for "gas" that compensates for the network processing your request. This wallet will have a transfer function where you will enter the address coinbase provides you and the amount of ether you want to send there. Your ETH is currently governed by a wallet. To transfer ETH to coinbase, first register at coinbase, then follow their deposit instructions. While you can transfer ETH relatively quickly (15 sec - minutes depending on congestion) your bank transfer may take 5-10 business days possibly more if issues occur. There is no universally agreed upon "best on/off ramp", so other people may point you to other off ramps. As they have a good UI for beginners imo. I recommend using (simpler but more fees) or (more complicated but less fees). Once you have fiat on your centralized Off Ramp, you can request a transfer to your bank, like you would if your money was loaded in Paypal/Venmo and you wanted it in your bank account. There can be more nuance but that's the simple version. You sell your ETH on the market in exchange for dollars (like you would converting USD to EURO). These Ramps facilitate exchanges between crypto and fiat mostly via a market. Like when you use PayPal, to send funds, you have to trust they wont freeze your account, you have to trust this Off Ramp not to cheat you. ![]() To exchange ETH for a out of network asset like USD you need to use an Off Ramp. While being incredibly liquid, you cannot transfer value out of network directly. As it stands, most banks don't deal directly in cryptocurrencies. ![]()
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