If you’ve invested in cryptocurrencies like Bitcoin or Ethereum and profited, you might wonder how to convert and withdraw your funds from Crypto.com.
This concern is common, especially among those new to crypto exchanges.
This guide outlines steps to securely withdraw your earnings to a bank account using the Crypto.com app.
What Is Crypto.com?
Crypto.com: Trade 250+ cryptocurrencies with 20+ fiat currencies in 80+ countries.
Suited for experienced traders, offers a user-friendly wallet, strong security, and affordability compared to other top exchanges.
Can You Withdraw Fiat Money from Crypto.com?
You can withdraw funds from Crypto.com to a bank account, but it’s complex.
As fiat withdrawals aren’t supported, you must sell cryptos, store converted fiat in your USD wallet, and then transfer to your US bank account.
No Crypto.com fees, but your bank might charge. Check beforehand.
How to Withdraw Money from Crypto.com to a Bank Account
Here are seven easy steps on how to withdraw money from Crypto.com to a bank account:
Step 1: Log In to Your Crypto.com Account
For withdrawals, using the app is better than the website. The app is user-friendly.
Download, open the app, login, and tap the logo in the bottom bar for your crypto wallet.
The menu that appears offers choices like “Crypto Wallet,” “Fiat Wallet,” and “Track.”
Step 2: Set Up Your Fiat Wallet
Setting up a fiat wallet is simple. Go to “Accounts” in the bottom bar, tap “Fiat Wallet,” and choose “+ Set Up New Currency.” Convert crypto to your country’s currency, like USD in the US. Provide details like SSN and address. Tap “Next,” give info, wait for approval sent to app email.
Note: Your Social Security Number is only required when setting up your USD fiat wallet. Submitting this information will not trigger a credit check, and it will not be needed for each transaction.
Step 3: Sell Your Crypto
To convert crypto to your chosen currency, create a fiat wallet. Click “Fiat Wallet,” choose “Sell Crypto,” and pick the crypto to convert. Click “Cash.” Use the Fiat Wallet section, input the amount. Minimum withdrawal is $100. Confirm the conversion, noting the value displayed for 15 seconds. Confirm with your app passcode.
Step 4: Start a USD Withdrawal Request
Once you have finished everything, you simply return to the app’s home page and select “Transfer.” Next, click on “Withdraw” and then select “Fiat.”
Tap on your USD balance and “Withdraw USD.”
Select “Add Bank Account” or simply choose your preferred bank if it has already been linked to your Crypto.com account.
Step 5: Add Your Bank Account
To link your bank account, choose your bank, use online credentials.
Bank must be linked for withdrawals.
Crypto.com authenticates it. Verified accounts are whitelisted.
Prefer a crypto-friendly bank for seamless transactions.
Step 6: Complete the Withdrawal Request
After setting up your bank account, the confirmation screen will appear.
First, review all the USD withdrawal information, then tap “Confirm” to proceed with the transfer.
After that, the app will update the withdrawal request’s status.
Step 7: Wait for Your Money
The money will arrive in your bank account in three to five days. You also will receive a message once the money is deposited into your account.
Conclusion
Exchanging crypto for fiat is straightforward, but transferring to a bank needs extra steps.
The process is easy if followed correctly.
For help, contact Crypto.com support via the app’s chat. Typically, they respond within a day.
Frequently Asked Questions
How long does it take for my money to arrive in my bank account?
Funds take 3-5 business days to reach your bank account, especially if it’s your first transfer. Crypto.com notifies you after their assessment.
Does Crypto.com charge fees to withdraw money to a bank account?
No fees for USD withdrawals from Crypto.com to bank account.
Which crypto can I sell to USD in the Crypto.com app?
Exchange any tradable crypto for USD in the app. Check the complete list in the article or the app’s Trade Menu.
Why can’t I link my bank account?
Regulatory restrictions might prevent linking. Crypto.com can’t process withdrawals to New York addresses. Some banks don’t allow ACH transfers; try another account.
Why is my withdrawal on hold?
Common reasons: bank name mismatch, joint accounts, third-party processors like PayPal, unsupported banks or institutions like crypto exchanges.