Step by Step Tutorial - How to Withdraw BBS Tokens to Coinbase EOS Wallet

This step by step tutorial takes you through the process of how to cash out your BBS tokens to EOS in Coinbase.

This method converts your BBS tokens to EOS so if you want to HODL your BBS tokens choose a different method. However, if you want a simple and relatively pain-free way to cash out your earnings in BBS.market then this is a great choice.

The screenshots are taken on a desktop however the process is the same on a mobile device.

If you already have some BBS tokens in your wallet then you may want to skip to Step 3.

1. For a first time withdrawal you have $20 cashable

2. You have been approved by Admin to cash out

3. A coinbase account

Click on the wallet button at the top right of the browser (outlined in red).

This opens your wallet and displays your balances. There are 3 different balances which are numbered and outlined in red.

For more information about the various balances and BBS economics see:

Cashable Balance vs Community Balance

Cashing out of BBS

Earning with BBS

Community Currency Burning and How it Stabilizes the CC Economy

To cash out your cashable balance, click on the Cash Out button (outlined in red).

This opens the cash out form in a popup window.

Enter the amount you want to cash out or click on the "Use Max" link at the top of the form to cash out the maximum you have available. This will automatically calculate how many BBS Tokens you will receive at the current market rate.  

The system fee is a type of community tax that goes to the board admin, the operator, and BBS staking rewards.

When you're happy with the amount, click on the "Cash out" button.

Note about the warning message

Sometimes we see a message warning that the price is currently volatile and advising to wait. It's nothing to worry about. If you wait you might get a better conversion rate but if you're impatient like me and want to cash out now, your BBS tokens will still be cashed out without a problem.

Now you have some BBS Tokens you can transfer your funds off the BBS.market platform into another wallet.

There are 3 methods available:

1. Coinbase

2. ETH Wallet

3. EOS Wallet

For this tutorial we are only going to show the Coinbase method. However if you want more information on how to cash out using the other methods see:

Compilation of BBS Token Withdraw/Transfer/Stake Tutorials & Step by step Guides

If you only have a small amount of BBS tokens to transfer and you already have a Coinbase account then this method is very convenient and easy to use.

Essentially, the BBS tokens are automatically converted to EOS and then you can convert the EOS into whatever other currency you would like when it gets to your Coinbase account.

Open your wallet balances again and this time click on the "Withdraw" button.

This opens a popup window with the available withdrawal methods. Select the Coinbase method.

Next we need to get the memo for your Coinbase EOS wallet. This step is very important. Keep the browser tab open as we will come back to it in Step 5 when we have the Memo data.

For more information about the memo field see:

Destination Tag/Memo

Login to Coinbase and click on the Send Tokens at the top right of the browser.

This will open a popup, click on the Receive tab.

Next we need to change to the EOS wallet so click on the Bitcoin symbol. This will bring up a search bar. In the search bar type EOS. Then click on the resulting row.

This will bring up the EOS wallet details. Click on the Copy button in the Memo row to save the Memo to the clipboard.

Navigate back to the BBS.market app where you have the Withdraw form open. Paste the memo data you just copied into the form. 

Double check the details are correct then click on the blue Withdraw button.

This will display a confirmation showing that the withdrawal was successful.

Go back to Coinbase and navigate to your EOS wallet. After a short amount of time you will see a notification that the EOS was received.

Click on the notification to display a popup showing more details.

Congratulations you now have your EOS and can keep it or convert it to something else.

I hope you enjoyed this tutorial. Let me know if there were any errors or omissions.