The biggest concern for beginners when they get into the cryptocurrency 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’ accounts.
In this article, we will guide you on how you can withdraw funds from crypto com. But before we get into how to withdraw money from Crypto com to bank account, let’s first get acquainted with what the application has to offer.
What Is Crypto com?
crypto com is a digital cash exchange that allows users to trade more than 250 cryptocurrencies using 20 fiat currencies through its app. It has become a prominent platform because many consider it much more affordable – and much more secure – than other crypto exchanges.
Can you Withdraw Funds in Fiat Currency Directly to your Bank Account?
Yes, you can. You can withdraw crypto, USD, and other currencies from crypto com to your bank or other withdrawal addresses as the platform has made managing your funds really easy.
For that matter, there are two options for withdrawal: (1) Withdraw to a bank account, or (2) Withdraw to an external wallet address. Since the main concern is withdrawing to a bank account, we will not be covering the second option since it is relatively straightforward as well.
How to Withdraw Money from Crypto com to Bank Account
Now let’s get straight to how you can transfer your funds to the bank account linked with your credit card. Do note that in order to withdraw fiat currency, you first need to sell the currency inside the app if you do not have any fiat holdings yet.
Step 1: Log in to your account on crypto com
We suggest using the application rather than the website since the app offers a much more concise and smooth interface that helps users look for exactly what they want. Hence, first, download and launch the crypto com app on your device and log in to your account using your credentials.
Step 2: Select “Crypto Wallet”
Since you can’t transfer crypto directly to your bank account for obvious reasons, you will have to sell your cryptocurrencies first then move the funds to your fiat wallet. Hence, tap “Crypto Wallet” on the app’s main menu.
Step 3: Sell the Cryptocurrency in the App
Here, it’s fundamental to select the crypto you want to sell. For example, let’s say you want to sell Bitcoin. Tap on the Bitcoin option and select the amount you wish to sell then tap on “Sell”. All the funds will go to your fiat wallet address directly afterwards.
Do remember to select a fiat currency wallet that corresponds to where you reside, for example, a USD currency wallet if you live in the U.S. Once your trade has been filled, the money will go straight to your USD fiat wallet.
Step 4: Access Your Fiat Wallet
The next thing you need to do is properly configure your fiat wallet. Just selling your cryptocurrency doesn’t help since you also have to make sure your wallet is set up.
The fiat balance for the crypto sold should reflect on the wallet. You have the option of moving them back to a crypto wallet or to start a withdrawal process in the app.
Step 5: Select Transfer and Start a Withdrawal Request
Once you are done with everything, select the Transfer option. Upon clicking it, you will have to enter a couple of additional details guided by on-screen instructions.
Step 6: Choose The Bank Account of Your Choice
If this isn’t obvious to you yet: You will not be able to withdraw your fiat currency if you don’t assign a bank account. Thus, you will have to link the wallet to your preferred bank account first.
The platform itself offers a gateway in which you can connect your bank account with your bank credentials. Once you are through with linking your account with the app, the platform will authenticate the account and you will be able to swiftly conduct your withdrawals. Once the account gets verified, it will go into the whitelisted list for security purposes.
Step 7: Finish the Withdrawal Request Confirmation
The confirmation screen will appear at the end after you are through with everything. On this screen, you will see all the details of your withdrawal process.
You will also be charged a fee for the withdrawal which might vary depending on different factors, such as withdrawal amount and so on. Click “confirm,” and wait for the funds to get deposited into your bank account.
How Long Does It Take For the Funds To Arrive?
The average processing time of the bank account transfers is from 3 to 5 business days. Thus, be on the lookout for your balance to reflect your funds’ arrival as it should not take more than the stated duration for the money to get deposited into your bank account.
You should also receive an email in your inbox or push notification in your app once the funds finally arrive on your end. For further assistance, you can visit the crypto com support page on their official website.
Closing Thoughts
In this article, we discussed how you can withdraw money from crypto com. We believe the instructions were helpful and simple enough for everyone to follow along, and that you now know how to withdraw money from crypto com to bank account seamlessly.
