What is the process for closing a trade on Coinbase?

reet

To lock in my profits from the rising Bitcoin value on the PC Coinbase platform, I need to close the trade instead of canceling it. However, when I access the trade, I notice that the only available option is "Cancel." Unfortunately, clicking on "Cancel" will result in the trade being terminated, and I won't gain or lose any money. Consequently, I need guidance on how to exit the trade successfully while capitalizing on the profit. Thank you for your assistance.

sanchit

To clarify, you want to exit the trade and make a profit without canceling it on the Coinbase platform. However, it's important to note that the steps you described indicate that you have already canceled the trade. If you cancel the trade, you typically won't make or lose any money because the trade is terminated.

Aryan

To avoid canceling the trade in the future and still exit with a profit, make sure you are familiar with the order options available on the Coinbase platform. Look for a "Sell" or "Close Trade" option instead of "Cancel" when you want to exit a trade and secure your profit.

Simran

Exiting a trade without canceling it is not possible. Once you click "Cancel," you effectively close the trade and do not make or lose any money. To secure your profits, you must close the trade. It's important to take profits even if it means giving up potential future gains. Best of luck!

NEHA

Typically, centralized exchanges do not provide an automatic cancellation of transactions if orders are not filled within a specific timeframe. The cancellation process usually requires users to manually click the cancel button. However, if you intend to secure your coins for the long term, it is advisable to withdraw them from the exchange and store them in a non-custodial wallet.