Transfer Money From Crypto.com To Bank Account is a straightforward process that allows you to convert your crypto holdings or fiat balance into cash. This step-by-step guide will walk you through how to efficiently transfer your Crypto.com balance to your bank account.
- Ensure You Have a Fiat Wallet Set Up
Before transferring funds from Crypto.com to your bank, you must have a fiat wallet set up within the app. After you sell your cryptocurrencies, this wallet will hold your fiat currencies (like USD, EUR, etc.).
- To set up a fiat wallet, go to the “Accounts” tab in the app.
- Select “Fiat Wallet” and follow the instructions to connect your bank account.
- Crypto.com will usually require you to verify your identity and link your bank account before allowing withdrawals.
2. Convert Crypto to Fiat
If your current balance is in cryptocurrency, you will need to sell your crypto and convert it into fiat currency.
- On the home screen, tap “Trade” and then select “Sell”.
- Choose the cryptocurrency you want to sell, select your fiat wallet as the destination, and confirm the sale.
- The fiat equivalent will now be stored in your fiat wallet.
3. Initiate the Transfer to Your Bank
Once your funds are in the fiat wallet, you can initiate the transfer to your bank account.
- Go to the Fiat Wallet section from the home screen.
- Tap on “Transfer”, then select “Withdraw”, and choose the currency and amount you want to withdraw.
- You will be prompted to select your linked bank account or add one if you haven't done so.
4. Confirm Withdrawal and Wait for Processing
After confirming the bank details and amount, Crypto.com will process your withdrawal request. You’ll receive a confirmation email, and the funds will usually arrive in your bank account within 1-3 business days.
5. Check Transfer Fees and Limits
Crypto.com typically does not charge for fiat withdrawals, but your bank may apply fees for international transfers or currency exchanges, depending on your location. Always check if there are any limits to how much you can withdraw in one transaction or per day, which may depend on your account verification level.
Conclusion
Transferring your balance from Crypto.com to your bank account is a smooth process once you have everything set up. Make sure to link your bank account, convert your crypto to fiat, and follow the steps to withdraw. Most transactions are processed within a few days, making it an efficient way to cash out your cryptocurrency holdings.
