Closing Your Coin Investment Account: A Step-By-Step Guide

If you're looking to close your investment account on a crypto platform, there are a few steps you need to take. Firstly, you must withdraw any remaining crypto funds and USD balances to another crypto app or a third-party wallet. Your total balance should be less than a certain amount, which varies depending on the platform. Then, you can proceed to close your account by either contacting the platform's support team or directly emailing their official email address with a specific subject line and a picture of yourself holding a piece of paper with specific information. Alternatively, some platforms may allow you to delete your account through their website by accessing your profile settings and clicking on the Remove account button. It's important to note that once your account is closed, you may not be able to register with the same email address and phone number again.

Withdrawing funds from a closed account

Signing In and Withdrawal Prompt:

When your account has been closed, usually due to violations of the user agreement, you will still be able to sign in. Upon signing in, the platform will prompt you to withdraw all the funds from your account.

Cryptocurrency Withdrawal:

If you have a balance in cryptocurrency, you will need to obtain an external address from a third-party wallet provider. For example, if you have Bitcoin, you can visit their website and click on "Getting started with Bitcoin" and then "Choose your wallet". For Ethereum, you can visit their website and select an appropriate wallet.

Local Currency Withdrawal:

Any local currency balance can be withdrawn to a previously verified bank account.

No Currency Conversion Services:

Note that once your account has been closed, the platform can no longer provide currency conversion services. You must use a third-party brokerage or exchange to convert your digital currency.

Completing the Withdrawal:

After successfully withdrawing all funds from your closed account, you can then proceed to close your account. It is important to ensure that you have withdrawn all your funds before closing the account to avoid any complications or delays in recovering your funds.

The process of withdrawing funds from a closed account is generally similar across different platforms, but it is always a good idea to refer to the specific platform's guidelines or customer support for detailed instructions.

Closing a Crypto.com account

Closing your Crypto.com account is a straightforward process, but it requires careful preparation and adherence to the given procedure to ensure a smooth closure. Here is a step-by-step guide on how to close your Crypto.com account:

Before Closing Your Account:

• Withdraw all your funds: Before initiating the account closure process, it is crucial to withdraw all your funds, including cryptocurrencies and fiat currency. Transfer your crypto to another wallet or exchange, and your fiat currency to your bank account. Your total account balance should be less than $0.1. If your balance is below the minimum withdrawal amount, contact the Crypto.com support team for assistance.
• Check for pending transactions: Ensure there are no pending transactions before closing your account.

Steps to Close Your Account:

• Open your email account: Prepare an email to send to Crypto.com's support team.
• Compose the email: The subject of the email should be "Close Account". In the body of the email, you may include a few reasons for closing the account, although this is not mandatory.
• Identity verification: On a sheet of paper, write your full name, the date, and "Crypto.com". Take a clear picture of yourself holding the paper and attach it to the email.
• Send the email: Send the email to [email protected] using the exact registered email address associated with your Crypto.com account. You will typically receive a response within 24 to 48 hours.
• Confirmation: Once your account closure request has been processed, you will receive a confirmation email. After that, you can delete any Crypto.com-related applications from your device.

Important Things to Note:

• Account reactivation: Remember, once your Crypto.com account is closed, it cannot be reactivated. If you decide to use Crypto.com services again in the future, you will need to create a new account.
• Loss of access: Closing your Crypto.com account will result in the loss of access to your account information, transaction history, and all associated services, including your Crypto.com App Account, Crypto.com Exchange Account, and Crypto.com Visa Card.
• Data retention: Even after deleting your account, Crypto.com will retain your personal information for at least five years, as stated in their terms and conditions.
• Card closure fee: There is a $50 card closure fee for converting and returning the funds to your account.
• Backup your data: Before closing your account, ensure you back up all relevant information, such as transaction history for tax purposes.
• Linked services: Closing your Crypto.com account will also result in the loss of access to any linked services, such as the Crypto.com Visa Card and its associated discounts, cashback rewards, and travel insurance.

Deleting a Coin Wallet account

Deleting your Coin Wallet account is a straightforward process, but there are a few things you should keep in mind before proceeding. Firstly, ensure that you have withdrawn all your funds to other cryptocurrency addresses that you control or have saved your seed phrases and passwords. This is important because you will need these to access and manage your funds in the future if you decide to reinstall the app or import your wallets to other cryptocurrency wallet services.

Additionally, make sure that all pending transactions are complete, and resolve any owed balances. It is also recommended that you cancel any subscriptions, such as Coinbase One, to prevent further charges. Keep in mind that closing your account is usually irreversible, and you will need to create a new account if you wish to trade again in the future.

To delete your Coin Wallet account, start by signing in to your account and accessing your profile information. From there, you can select the "Close Account" or “Remove Account" option and follow the remaining prompts to confirm the deletion. Note that some personal information may be retained by the company for legal, fraud prevention, or dispute resolution purposes, as outlined in their privacy policy.

If you are using a Bitcoin wallet, you can also choose to remove the display of specific wallets within the app. To do this, select the asset type and the wallet you want to delete. Then, tap the hamburger menu (three dots) at the top right of the wallet info screen and choose "Delete this wallet." Provide the name of the wallet, but keep in mind that this action does not remove the wallet address from the blockchain.

Closing a CoinDeal account

CoinDeal, a crypto exchange platform, was closed on 19 February 2023 due to a fraudulent scheme by scammers using the same name. The company has urged its users to withdraw all their funds to avoid losing them.

Steps to Close a CoinDeal Account:

• Withdraw all your funds from your CoinDeal account to avoid losing them.
• Contact the CoinDeal Support Team via the Contact Page or Live Chat to request the deletion of your account.
• Remember, once you delete your account, you will not be able to register with the same email address and phone number in the future.
• CoinDeal also mentions that creating a second account will not solve any technical issues as users are not allowed to have multiple accounts.

Withdrawing funds from Coinbase

Withdrawing Crypto from Coinbase

Withdrawing cryptocurrency from Coinbase is a straightforward process. Follow these steps:

• Access Your Coinbase Account: Log in to your Coinbase account through the website or mobile app.
• Select the Crypto to Withdraw: Go to your "Portfolio" and choose the cryptocurrency you want to withdraw.
• Click on "Send" or "Withdraw": Locate the appropriate button next to the chosen cryptocurrency.
• Enter the Recipient's Address: Provide the wallet address to which you want to send the crypto. Ensure the address is correct to avoid losing your funds.
• Specify the Amount: Enter the amount of cryptocurrency you wish to send.
• Review and Confirm: Double-check the details of your transaction, then confirm or click "Send" to complete the withdrawal.

Coinbase Pro is the advanced trading platform offered by Coinbase. The withdrawal process is similar to the standard Coinbase platform:

• Log in to Coinbase Pro: Access the Coinbase Pro website and sign in to your account.
• Navigate to the Wallets Section: Go to the "Wallets" tab to view your account balances.
• Select the Currency to Withdraw: Choose the currency you wish to withdraw from the list of available assets.
• Click on Withdraw: Find the "Withdraw" button and click on it.
• Enter the Withdrawal Details: Specify the amount and select the destination for the funds.
• Confirm the Withdrawal: Review and confirm the transaction.

Cashing Out from Coinbase

Cashing out from Coinbase involves converting your cryptocurrencies into fiat currency and transferring them to your bank account. Here are the steps:

• Sell Your Crypto for Cash: Navigate to the "Buy/Sell" tab, choose the "Sell" option, select the cryptocurrency asset you wish to sell, input the amount, and confirm.
• Cash Out Your Crypto: Select the asset you intend to cash out, specify the amount, choose your preferred cash-out destination, and confirm.

Important Considerations

• Payment Methods: Before cashing out, you will need to link a payment method such as a bank account, PayPal, or credit/debit card.
• Fees and Limits: Be aware of Coinbase withdrawal fees and limits. Fiat withdrawals usually have minimal fees, but bank transfers are slower. Debit/credit card withdrawals are faster but have higher fees. Cryptocurrency withdrawals have network fees that vary by blockchain.
• Timing: Cryptocurrency markets can be volatile. Consider the market conditions and choose an appropriate time to withdraw.
• Security: Enable two-factor authentication and other security features to protect your account and funds.

Frequently asked questions