Coinbase Users Can Now Withdraw BSV to External Wallets

·

For cryptocurrency holders using one of the most trusted platforms in the U.S., a significant update has just rolled out. Coinbase, a leading digital asset exchange, now allows users to withdraw Bitcoin SV (BSV) to external wallets. This move marks a pivotal step in user control and asset flexibility, especially for those who received BSV following the late 2018 Bitcoin Cash hard fork.

👉 Discover how easy it is to manage your digital assets with advanced withdrawal options.

What This Update Means for Coinbase Users

Previously, Coinbase users who held Bitcoin Cash (BCH) automatically received an equal amount of BSV after the November 2018 hard fork. However, despite owning the asset, they were unable to transfer it off the exchange—until now.

Starting February 14, 2019, Coinbase officially enabled BSV withdrawals to external wallets. This functionality gives users full custody of their coins, aligning with the core principle of self-sovereignty in blockchain: “Not your keys, not your crypto.” While trading or purchasing BSV is still not supported on Coinbase, the ability to withdraw empowers users to manage their holdings freely on third-party platforms or personal wallets.

This change reflects growing recognition of BSV as a distinct digital asset, even if Coinbase has chosen to limit its services around active trading.

Understanding Bitcoin SV: Origins and Vision

Bitcoin SV emerged from a contentious hard fork of the Bitcoin Cash (BCH) blockchain in November 2018. The split wasn't just technical—it was ideological. The BSV faction, led by controversial figure Craig Wright, advocates for what they call “Satoshi’s Vision”—a return to Bitcoin’s original protocol with larger block sizes to enable massive scalability and on-chain transactions.

The fork resulted in two competing chains:

While both originated from BCH, BSV differentiates itself through its focus on enterprise-level blockchain applications, aiming to support high-throughput use cases like micropayments and data recording.

Despite skepticism around Craig Wright’s claims of being Satoshi Nakamoto, BSV has maintained a presence in the crypto ecosystem, particularly in sectors exploring blockchain for data integrity and supply chain tracking.

Industry Reactions and Support for BSV

Coinbase isn’t the first major platform to engage with BSV—but its approach is cautious compared to others.

Kraken’s Risk-Focused Approach

U.S.-based exchange Kraken began supporting both BCH forks early on but issued strong warnings about BSV. In their announcement, Kraken stated that custodial losses due to potential attacks from nChain (a company linked to Craig Wright) would be shared among all BSV holders on the platform. They emphasized that the network's volatility posed extremely high risk, underlining the contentious nature of BSV’s development environment.

Blockchain.com’s Limited Integration

In January 2019, Blockchain.com, known for its wallet and analytics services, introduced limited support for BSV. Users could store and manage BSV alongside BTC, BCH, ETH, and XLM—though advanced features like swapping or trading weren’t included. This partial integration signaled cautious optimism about BSV’s staying power without full endorsement.

These varied responses highlight a broader industry sentiment: while BSV is recognized as a legitimate fork, its association with controversy means many platforms proceed with caution.

Current Market Performance of BSV

At the time of this update, Bitcoin SV was trading around $62.70**, reflecting a daily decline of **2.91%**, according to CoinMarketCap data. The coin showed volatility over the previous week, hitting a low of **$61.50 and a high of $67.04 on February 8—just days before Coinbase’s withdrawal announcement.

While price movements are influenced by numerous factors—including exchange support, media coverage, and on-chain activity—the ability to withdraw BSV from a major platform like Coinbase may contribute to increased liquidity and market participation in the long term.

👉 Stay ahead of market shifts with real-time data and secure withdrawal capabilities.

Why Withdrawal Access Matters

The ability to withdraw crypto assets is more than just a feature—it’s a fundamental aspect of financial autonomy in the decentralized world. Here’s why this update matters:

Even without trading options, enabling withdrawals acknowledges user ownership and fosters trust in Coinbase’s custodial policies.

Frequently Asked Questions (FAQ)

Q: Can I buy or sell BSV directly on Coinbase?
A: No. As of now, Coinbase does not support buying, selling, or trading BSV. The update only allows withdrawal of existing balances to external wallets.

Q: How do I withdraw my BSV from Coinbase?
A: Log into your account, go to your portfolio, select BSV, and click “Send.” Enter your external wallet address and confirm the transaction. Make sure your wallet supports BSV before sending.

Q: Is there a fee for withdrawing BSV?
A: Yes. Coinbase applies a network fee based on current blockchain congestion. This fee goes to miners and ensures your transaction is processed promptly.

Q: Why did it take so long for Coinbase to enable BSV withdrawals?
A: Likely due to technical validation, security assessments, and the controversial nature of the BSV network. Exchanges often delay support until stability and community consensus improve.

Q: Is Bitcoin SV the same as Bitcoin (BTC)?
A: No. Although both share roots in Bitcoin’s original codebase, BSV is a separate cryptocurrency stemming from the Bitcoin Cash hard fork. It has different development goals and technical specifications.

Q: Should I withdraw my BSV?
A: If you value control over your assets or plan to use BSV outside Coinbase, withdrawing makes sense. Just ensure you use a reputable wallet and double-check addresses to avoid irreversible mistakes.


The expansion of withdrawal capabilities for Bitcoin SV on Coinbase represents a milestone for user empowerment. While the debate around BSV’s legitimacy continues, giving users access to their assets reinforces transparency and trust in digital finance ecosystems.

As more platforms evaluate their stance on contentious forks, features like secure withdrawals become essential—not just for utility, but for upholding the decentralized ethos at crypto’s core.

👉 Take control of your crypto journey with seamless transfers and secure storage solutions.