How to Withdraw Money From Crypto.com To Bank Account
One of the main concerns of newcomers to the crypto world is how they can withdraw USD, EUR, or another fiat option to their bank accounts directly.
Luckily, major exchanges, such as Crypto.com, offer the possibility to start a EUR, GBP, or USD withdrawal request directly from the users’ profiles.
Doing so is elementary, so if you want to transfer funds from Crypto.com to your bank, worry not - we’ll help you achieve this.
In today’s article, we’ll be giving you all the information you need about the following matters:
- How to withdraw money from Crypto com;
- Step-by-step guidance to get your funds as soon as possible;
- Things you must know before withdrawing from Crypto.com.
Can You Withdraw Your Crypto Account Balance to Fiat Currency in Crypto.com?
Yes, you can! You can withdraw crypto, USD, and other currencies from Crypto.com to your bank or other withdrawal addresses.
Managing your funds on this platform is really, really easy.
There are basically two options for withdrawal: withdraw bank account, or withdraw to an external wallet address.
So, in case you want to transfer cryptocurrency to an external address, let’s say, Coinbase, just find the Coinbase Wallet Address and start the crypto withdrawal.
What’s more, Withdrawing from Coinbase to a Bank account is also possible!
On the other hand, if you want to transfer money from Crypto.com to bank account instead, you can do so as well! Here you can find a list of cryptocurrencies available on the versatile Crypto.com website.
How to Withdraw Money from Crypto.com to Bank Account
Let’s withdraw money from Crypto.com directly to your bank account! In order to withdraw fiat money, you first need to sell your currency inside the app.
Worry not - take note of the following steps and you’ll be able to withdraw money from Crypto.com to your bank account sooner than later.
Step 1: Log in to Your Crypto Account
First, you need to log in to your account in order to transfer money.
Since the Crypto.com app has more than 1 million users, we are going to focus on the app for practical purposes.
So, tap that login button and get into your account.
Step 2: Select “Crypto Wallet”
Since you can’t transfer crypto directly to your bank for obvious reasons, you first need to sell these currencies and move the funds to your fiat wallet.
Hence, tap “Crypto Wallet” on the app’s main menu.
Step 3: Sell Crypto in the Crypto.com App
Here, it’s fundamental to select the currency you want to sell. For instance, let’s say you want to sell Bitcoin.
Tap on the Bitcoin option and then tap on “Sell.”
Select the amount of this crypto that you want to sell.
All the funds will directly go to your fiat wallet address afterward.
Also, it’s important to select a USD currency wallet in case you live in the USA.
Once you have successfully set the amount of coins, tap “Confirm,” and the money will go straight to your USD fiat wallet.
Step 4: Go to Your Fiat Wallet
It’s time to setup fiat wallet! You already sold your cryptocurrency assets, so the funds should appear in your fiat wallet.
Tap the desired option on the screen and move on.
The USD balance should be shown right there, and you will have the possibility to move them back to a crypto wallet or to start a withdrawal process in the app.
Step 5: Select the Transfer Button and Start a Withdrawal Request
Once you tap on “Transfer,” the withdraw option will appear on the screen.
Once again, you’ll need to select the currency, total amount of the deposit, and more USD withdrawal details in case you live in the USA.
Step 6: Set Up Your Preferred Bank Account
You can’t withdraw USD or another currency if you don’t set a bank account first.
Once the withdrawal address and bank account information is correctly integrated with Crypto.com, the app will give you the option to link your bank account.
Fortunately, you can link it by setting up your online banking credentials.
That will allow you to immediately verify your bank account for withdrawal purposes.
Linking your bank credential will help you to have this account in a whitelisted list, so you can use it back again whenever you want.
Note: For security reasons, users’ deposits are kept in cold storage until the authenticator app manages to ensure the safety of the transaction.
Address whitelisting helps users to perform automated withdrawals and faster transfer times once they have successfully added an account to the platform.
Read more about this on Crypto’s official website.
Step 7: Finish the Withdrawal Request Confirmation
Finally, a confirmation screen will appear.
Here you’ll be able to see all the withdrawal fees related to your operation.
These fees might vary depending on different factors, such as withdrawal amount and so on.
Tap on “Confirm,” and there you go - wait for your sweet funds to arrive!
Wait for the Fiat Money Transferred to Arrive in Your Bank Account
The average processing time of the bank account transfers is from 3 to 5 business days.
The app should get you e-mailed or send you push notifications once the fiat money finally arrives at your end.
And that’s how you withdraw money from Crypto.com to your bank account!
It’s easy, quick, and really efficient. For more Crypto-related information, check GrowFollowing on a daily basis.
How To Withdraw Money From Crypto.com FAQ
What’s the Minimum Withdrawal Limit in Crypto.com?
The minimum amount per request is 100 USD, so keep this in mind before withdrawing money from your wallet.
Why Did Crypto.com Disable Crypto Transactions?
If Crypto.com detects unusual activity from your account, they are entitled to disable all transactions for your safety.
Learn more about Crypto.com Security Measures here.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.