Crypto.com offers a range of 250+ crypto assets for cash trading, making it a popular choice for entering the crypto market.
Key features include convenient bank account deposits/withdrawals.
However, due to its mobile focus, cash and crypto withdrawals can be complex.
This guide simplifies withdrawing funds from Crypto.com to a bank, covering fees and payment options.
For a quick guide on how to withdraw from Crypto.com to a bank, follow these steps:
- Open the Crypto.com App. Go to the Crypto.com app and sign in.
- Go to the fiat wallet and enter the bank account details. Tap ‘Wallet’ and enter the bank account details for the selected fiat currency.
- Choose the currency to withdraw and enter the amount. Navigate to the ‘Withdraw Fiat to Bank Account’ option and enter the withdrawal amount. Review and confirm the withdrawal to a bank account.
- Review the withdrawal request details and enter the OTP code to confirm.
Can You Withdraw From Crypto.com?
The simple answer is yes. Crypto.com, like several other exchanges, enables users to withdraw money from the platform to a bank account.
There are numerous withdrawal methods to move assets off the Crypto.com app which include:
- Withdraw crypto to an external wallet address. Crypto.com users can withdraw their crypto assets from their Crypto.com accounts to an external address on an exchange or third-party cryptocurrency wallets like MetaMask or Trust Wallet. This process is usually seamless but incurs certain network fees.
- Withdraw fiat money to a bank account. Crypto.com also allows users to directly withdraw fiat money to their bank account. This is an alternative option for investors who want to cash out Bitcoin and several other crypto assets. However, this option is region-based and often takes much longer processing time.
- Withdraw via third-party service. Crypto.com Visa debit card users can use third-party services like a Bitcoin ATM to exchange their crypto for fiat money. This option is the least desirable for many users due to its expensive fees and the scarcity of these machines.
Can You Withdraw Cash on Crypto.com?
Yes, Crypto.com has several fiat off-ramp options to withdraw funds. There are seven supported fiat currencies that are all available for withdrawal which are GBP, AUD, CAD, EUR, USD, BRL, and TRY.
Also read: Transferring Crypto From Robinhood: Step-By-Step Guide
Each fiat currency has varying withdrawal methods but bank transfer is the most common.
To access any of these fiat withdrawal options, Crypto.com customers must complete the know-your-customer (KYC) process by submitting relevant ID documents.
How To Withdraw Money From Crypto.com To A Bank Account
To withdraw fiat money from the platform, follow the steps below:
Step 1 – Log in to the Crypto.com App
Verified Crypto.com users can use both the exchange and mobile app with a consistent sign-in.
To withdraw fiat, logging into the mobile app is necessary, a straightforward process involving a passcode if registered.
Once set up, users can access the platform and funds.
If verification is pending, find guidance on the platform verification duration.
Step 2 – Select Fiat Wallet from the menu
On the app, access the USD fiat wallet by clicking on the ‘Account’ menu at the bottom. Locate the ‘Fiat Wallet’ menu and click on it which will open up the Fiat Wallet withdrawal page (shown below).
For first-time fiat withdrawals, investors must add their withdrawal options and validate them.
This can be done by clicking the ‘Setup New Currency’ icon.
This requires a few details to be entered in, including residential address, bank account details, and postal code in order to complete the fiat currency setup process.
Step 3 – Choose the fiat currency to withdraw
After setting up a fiat wallet, choose ‘Withdraw Fiat to Bank Account’.
Correctly entered banking details from Step 2 will be displayed.
For different fiat currencies, input destination account’s bank details.
Enter desired cash amount from Crypto.com’s available balance displayed on the screen.
Step 4 – Review and confirm withdrawal to bank account
Preview transaction details – last chance to review bank info and withdrawal amount.
If good, click ‘Withdraw’. Enter 6-digit OTP from registered mobile.
After input, Crypto.com processes withdrawal to nominated bank, confirming on screen.
How to Withdraw Crypto on Crypto.com
Withdrawing cryptocurrencies on Crypto follows a similar step-by-step process as transferring fiat funds into a bank account.
To directly crypto funds from the platform to another exchange or third-party crypto wallet, follow these detailed steps.
- Log in to the Crypto.com App. The login process for withdrawing crypto is the same as withdrawing fiat on Crypto.com. Once the customer completes all the necessary security checks, they can access the app.
- Go to the Crypto Wallet withdrawal page. From the homepage, click on the ‘Accounts’ menu, locate the ‘Crypto Wallet’ option at the top, and select it. This should open up another screen with the cryptocurrencies in the investor’s portfolio.
- Select the cryptocurrency to withdraw. Open ‘Crypto Wallet’, pick digital asset, tap top-right ‘Transfer’ icon, choose ‘Withdraw’. For other transfers, pick ‘External Wallet’. Add destination wallet: tap ‘Add Wallet Address’, paste copied address, pick correct blockchain or white-listed address.
- Review details and complete the withdrawal. The final step is to enter crypto quantity for transfer, pick recipient’s blockchain. After both entered, review details, fees, tap ‘Confirm’. Google code to verified mobile needed. Input, and withdrawal processed.
What Are The Crypto.com Withdrawal Fees?
Crypto.com has distinct fees for fiat and crypto withdrawals.
Fiat withdrawals have 0% fees. Crypto asset fees depend on the asset and recipient’s blockchain.
For instance, 1INCH withdrawal to Cronos: 0.2 1INCH. Ethereum transfer: 7 1INCH. Fees incentivize blockchain validation.
Are There Limits to Withdrawing Money From Crypto.com?
The platform has withdrawal limits.
Bank withdrawals vary by fiat and method.
Example: USD – $500K/day, $2M/month. EUR via SEPA: £100K/day, £500K/month.
Crypto withdrawals have minimums, network-dependent. Confirm before withdrawing.
How Long Do Crypto.com Withdrawals Take?
The platform’s withdrawal time varies by network.
It doesn’t greatly affect transfers to other exchanges/wallets.
Blockchain validation determines speed.
Solana, Polkadot are fast, confirm in minutes.
Bitcoin (PoW) takes 11 mins to 1 hour during peak times.
Below is a video clip explaining the process of withdrawing money from Crypto.com to a bank account;
Frequently Asked Questions
How do I withdraw my money from Crypto.com?
Users can easily withdraw USD and other fiat money from the platform by tapping the ‘Fiat Wallet’ option. They will need to set up a recipient bank account first and enter the bank account information. Once completed, select the fiat currency to withdraw, enter the amount, and complete the withdrawal to the bank account.
Can you withdraw from Crypto.com instantly?
Cryptocurrencies can be sent instantly from Crypto.com to the recipient’s wallet address, but this largely depends on the crypto network. In contrast, fiat withdrawals take about 2-5 business days to process.
How much does Crypto.com charge to take cash out?
It doesn’t charge any withdrawal fee for fiat withdrawals on its platform. This is due to the payment methods available such as bank transfers which are generally free. However, there may be fees charged by the receiving bank.