How to Convert Sats into Local Currencies
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To withdraw Sats from the Lightning Network to Coinbase (or any other wallet/exchange), follow these steps. The process remains similar no matter where you're transferring your funds.
Sign in to your Coinbase account.
Select Bitcoin as the asset you wish to receive.
Select the Lightning network.
Follow the prompts to create your invoice
Invoices are valid for 72 hours.
Copy the invoice. You will need this in the next section.
Login to Lightning Bounties: then click on your account.
Initiate Withdrawal: Select the option to withdraw your sats.
3a. First, paste your invoice string into the input field
(the same one you copied on your Coinbase account in the previous step).
3b. Click the “Create”
Your sats should now be reflected in your Coinbase account after the transaction is confirmed.
Before you can cash out your crypto, you may need to sell it to your Coinbase cash balance before transferring the cash to your bank. You can then either transfer ("cash out") the funds to your bank or leave them in your cash balance for future crypto purchases. There's no limit on the amount of crypto you can sell for cash.
Sign in to your Coinbase account, on the web or mobile app
Select Buy & Sell
Select Sell
Select the crypto you want to sell and the amount.
If on mobile, you'll be required to crypto the asset you want to sell before entering an amount
Change the To destination, if applicable.
This will likely default to your local currency balance (USD) but you may have the option of adding to another balance (e.g., USDC).
Select Review order.
Select Sell now to complete the sale.
Once the crypto sell order is complete, the funds will be available in your cash balance to buy other assets or cash out to your bank.
Access the Coinbase mobile app.
Select My Assets.
Select My assets, then Cash out.
Select your local currency balance.
Enter the amount you want to cash out.
Select the Cashout tab and enter the amount you want to cash out.
Select your Cash out from balance and choose your Deposit to destination
Select Transfer to and choose your cash-out destination.
Select Preview cash out and confirm your selections.
Select Review.
Select Cash out now to complete your transfer.
Select Withdraw cash to complete your transfer.
Sign in to your account.
