Cashing Out: How to Transfer USDC to Your Bank
A step-by-step guide to withdrawing your USDC rewards to your bank account using Coinbase.
This guide walks you through the full process of converting your USDC rewards into cash in your bank account. We recommend Coinbase as your exchange, especially if you're new to crypto — but most steps apply to other exchanges as well.
The process has three steps:
STEP 2: Convert USDC to your local currency (Canada-based pilots only)
Before you start
Make sure you have the following before proceeding:
USDC rewards in the wallet connected to your Spexi account (note that this won't be possible until after March 17)
A Coinbase account (or another exchange that supports Base Network deposits)
If you haven't set up a Coinbase account yet, now is a good time. Coinbase provides official instructions for creating an account and securing it with a strong password and two-factor authentication (2FA).
Step 1: Send USDC from your wallet to your exchange
⚠️ Important: You must send your USDC on the Base Network. Sending on the wrong network may result in lost funds. Double-check that Base is selected before confirming any transaction.
To send USDC to Coinbase, you'll need your Coinbase deposit address for USDC on Base. This can be found in your Coinbase account under Receive > USDC > Base Network.
From the Coinbase home screen, click Receive crypto.
Search for and/or select USDC.
In “Select network,” choose Base. You may also get a warning to make sure you chose the correct network. Only send your USDC on the Base network. Coinbase also estimates the time the transfer will take – it is usually seconds on the Base Network.
The “Receive USDC” screen then provides your deposit address. Copy the address by clicking the
icon. This is the address you’ll need to paste into your wallet in the Spexi App.
In the Spexi App, navigate to your Wallet, and click “Send USDC now”. With your wallet pulled up, click “Send”.
Select the USDC token, paste in your Coinbase deposit address, and specify the amount you’d like to send. The app will show “Transaction Successful” and the sent funds will be received in your Coinbase account, typically within minutes.
While other exchanges can be used, we recommend Coinbase for pilots new to crypto. If your exchange doesn't support native Base integration, you won't be able to receive your USDC there.
Step 2: Convert USDC to your local currency
US-based pilots (USDC → USD)
US-based pilots on Coinbase can skip this step. Coinbase treats USD and USDC as interchangeable — meaning you can withdraw your USDC directly as US dollars without any extra conversion. Proceed to Step 3.
Canada-based pilots (USDC → CAD)
Pilots based in Canada need to convert your USDC to CAD before withdrawing. In Coinbase, navigate to Trade > Convert, select USDC as your source currency and CAD as the destination, enter your amount, and confirm.
From the Coinbase home screen, click Sell (top right)
Under "Sell," select USDC
Under "To," select CAD Wallet
Enter the amount you'd like to convert
Click Review order, then Sell now
Step 3: Withdraw funds to your bank account
First, make sure your bank account is connected to Coinbase. Coinbase supports US ACH transfers and US/Canada wire transfers, as well as other payment methods depending on your country (including PayPal and debit cards). Official instructions for connecting a bank account are available on Coinbase's support site.
Note: The steps below reflect the standard Coinbase interface. If you're using the advanced interface, toggle it off in the lower-left corner of the screen to follow along.
US-based pilots
On the Coinbase home screen, click Withdraw Cash (lower right)
In the pop-up, click Withdraw
Select USDC as your source
Note: Coinbase treats USDC and USD as separate balances. If you also have cash in your account, you'll need to run two separate withdrawals.
Select your bank account and preferred transfer method
Instant transfer: Available for a sliding-scale fee; arrives within minutes. The fee is shown once you enter a withdrawal amount.
Standard transfer: Typically free or low-fee; arrives in 1–3 business days
Enter the amount you'd like to withdraw. (Fewer, larger withdrawals may reduce total fees over time.)
Click Preview, then Withdraw now
Your funds will arrive according to your selected transfer method.
Canada-based pilots
From the Coinbase home screen, click Withdraw cash
In the pop-up, enter the amount of cash you want to withdraw, then click Continue
Choose your transfer method. Fees are calculated based on withdrawal amount and method.
Instant cash out via Interac e-Transfer: 0-1% fee; Instant; lower withdrawal limit
Standard cash out via bank account: fees vary by bank; timing varies by days; typically higher withdrawal limit
Click Preview, then Withdraw now
Depending on your cash out method, your cash should arrive in your bank account in minutes (Instant) or days (Standard). Coinbase provides an estimate and updates per transaction.
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