Do you want to know how to withdraw money from crypto.com and deposit it into your bank account? What are the fees, how long does it take, and what is the overall process for a bank account in the United States, the United Kingdom, Canada, and Australia? If that’s the case, this post is for you.
How to Withdraw Money From Crypto.com to Bank Account
Crypto.Com is an online cryptocurrency exchange platform that caters to both traders and investors interested in cryptocurrencies.
It has more than ten million users spread across approximately 90 countries. It provides you with the ability to buy or sell more than 100 cryptocurrencies at their current market value.
Not only that, in contrast to the majority of other cryptocurrency exchange platforms available, it provides you with interest rates on your crypto assets of up to 14 percent.
It is also available as a mobile application for both the Android and iOS mobile operating systems.
However, we will not be discussing this in this article, but rather will provide you with instructions on how to withdraw money from Crypto.Com and deposit it into my bank account.
Yes, you are able to withdraw money. However, transferring funds directly to your bank account on the majority of other cryptocurrency exchange platforms is difficult.
But in any case, if you want to convert your Crypto assets into USD, EUR, or pound and deposit them into a bank account, you can do so at any time.
It is possible to complete it in two steps-
In order to use your Crypto.Com Account, you must first create a Fiat wallet on it.
You can now deposit funds into your bank account in the currency of your preference.
Setup Fiat Wallet
The following is the procedure for adding a Fiat wallet:
- Navigate to Withdraw, Crypto, and then external wallet after opening the app and clicking the transfer button.
- It is necessary to include a withdrawal address. To do so, select the “+Add Wallet Address” option from the drop-down menu.
- Now select the Fiat wallet option from the drop-down menu.
- Choose fiat wallet once more from the drop-down menu of available options.
- After that, select “+Set Up new Currency” from the drop-down menu.
- You will now be presented with the Deposit fiat via the bank transfer screen.
- There, you can select your country’s currency. An example is the United States Dollar (USD).
- Once the wallet configuration is complete, enter the information for your bank account in the appropriate field.
You are now prepared to send cryptocurrency to the address that you have just created.
Transfer Money to the Bank Account
Listed below is information on how to withdraw money from crypto.com and deposit it into your bank account:
- Before sending payment, double-check that your address has been whitelisted. If this is not the case, the Withdrawal will not be effective for you.
- Select Transfer > Withdraw > Fiat > United States Dollar from the drop-down menu.
- The option to add a bank account is available if your bank account has not already been set up on the website.
- Continue by pressing the “Continue” button.
- Look for and select the bank to which you will be transferring funds.
- Fill out the form with your Internet banking credentials.
- To transfer funds, first select the account to which you want to transfer funds.
- Now, enter the amount of money you wish to have transferred to your bank account.
- Now click on the Withdraw button to make a withdrawal.
- Please keep in mind that in order to transfer money, you must have at least $100 in your Crypto.Com account.
How Long Does It Take to Withdraw Money?
Consider the following scenario: If you transfer money using a Fiat wallet, it will take approximately 3 to 5 working days.
Your bank account will be credited with the funds you requested within 3 to 5 business days after you submit your USD withdrawal request.
How Much Does It Cost to Withdraw Money?
If you withdraw USD from your Fiat wallet and deposit it into your bank account, you will be charged withdrawal fees by the bank.
Transfer to Crypto Wallet
Not only can you convert between USD and EUR, but you can also convert between Crypto and another wallet of your choice.
Here’s how to withdraw cryptocurrency from crypto.com and deposit it into your cryptocurrency wallet:
- Access your account by visiting Crypto.Com or by logging into the mobile application.
- There, select Withdrawal from the drop-down menu after clicking on the Transfer button.
- Select Crypto and then External wallet from the drop-down menu.
- To withdraw funds, locate the withdrawal address and press the withdrawing button.
The Cryptocurrency will be visible in your wallet as soon as the transaction has been processed on the blockchain and the funds are transferred to it.