Do you want to withdraw money from Crypto.com to your bank account, but you don’t know how? Then this guide will help you out.
In this guide, you will learn exactly how to withdraw money from Crypto.com to bank your account step-by-step.
It will show you a couple of options you can use to withdraw your money from your Crypto.com account.
Aside from that, it will also show you a few other things you need to know about Crypto.com. So, let’s go ahead and get this guide started, shall we?
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What you need to know
Just to make it clear, this guide is not a step-by-step guide to all the Crypto.com features. As mentioned, this guide will just show you how you will be able to withdraw money from Crypto.com to your bank account.
If you want to learn more about all the features of Crypto.com, I would suggest you check out the full Crypto.com tutorial instead.
Also, you need to be aware that the method of withdrawing money from your Crypto.com account to your bank account will vary from country to country.
The methods I will show you are the methods available to me. However, I will also talk about other options for other countries.
How to transfer money from Crypto.com to your bank account
Now that you know what this guide is all about, it’s time we discuss the actual methods. I have made a video detailing exactly how to use the different methods.
You can also read the full details below the video.
Recommended: Check Out the Best Ways to Make Money with the Crypto.com App
Withdrawal option #1
Take note that this option is not available in all countries, but from what I can tell, it is available in most countries in Europe.
The first thing you need to do with this option is to convert some or all of your crypto assets inside the Crypto.com app to any fiat currency you prefer.
To do this, just log in to the app and press the “Accounts” option at the bottom. Then, press the “Fiat Wallet” link (as shown in the photo above).
Once you’ve done that, you can just choose the crypto you want to convert to fiat currency. This method is essentially just selling your crypto and converting them to money. You can check out the full guide on how to trade on Crypto.com.
The default currency the app will be using is USD, but you can also see the equivalent in your local currency. With this option, though, you will be using the Euro currency since this is the most used common in Europe. After you’ve traded your crypto to a fiat currency, you are now ready to withdraw it to your bank account.
Just press the “Transfer” option and hit the “Withdraw” option. Then, just choose the currency you want to transfer and select the withdrawal option. Normally, the only option that will be available is the SEPA bank transfer option. But again, this will depend on the country you live in.
Keep in mind that you can only do this if you have already linked your bank account to your Crypto.com account. And the only way to do this is if you have transferred money from your bank account to your Crypto.com account.
So, if you haven’t done that yet, make sure to do it before attempting to withdraw any fiat currency. After you’ve selected the currency, you will be asked how much money you want to transfer. For every currency, there will be a minimum amount you can withdraw.
If you’ve already indicated the amount you want to withdraw, just press the “Withdraw Now” button to complete the request. Crypto.com will first have to review your request. Once it approves your request, it can take one to two working days for the money to show up in your bank account.
Withdrawal option #2
This option is suitable if you want to withdraw US dollars. It is also available in most countries. If you use this option, you will first have to link your bank account to your Crypto.com account. And as explained above, the only way to do this is if you deposit money from your bank account to your Crypto.com account.
The good thing is that the money you have to deposit doesn’t have to be a huge amount. The first step is to buy USD coins using the money you will deposit.
Just press the “Deposit” option and select “Crypto”. Then, you need to find the USD coin (refer to the photo above) and press it. Once you’ve done that, you will be asked the type of deposit you want to do. Just hit the “Bank Transfer” option and input your banking details (if it is your first time doing so).
But if you’ve already linked your bank account, you will just have to input the amount you want to deposit and hit the “Withdraw Now” button. Again, the transaction can take one to two working days to be completed, so don’t expect that the amount will be deducted from your bank account immediately.
Once this step is completed, you will now be able to convert your crypto to US dollars and withdraw them to your bank account. I know it can get a bit overwhelming at first, but once you do it a couple of times, it will become easier and easier, in my opinion.
Alternative use of crypto on Crypto.com
Aside from converting crypto to fiat currency, there are actually other uses for your crypto assets on Crypto.com.
Instead of trying to convert your crypto to actual money, you can actually use your crypto to pay for purchases from certain stores.
Crypto.com has a feature where you can use it as a Visa card (refer to the video above) and pay for purchases using your crypto assets. If you avail of this feature, you will also be sent a physical copy of the Visa card. It works just like any other debit card, which is a very unique feature, in my opinion.
Just go to this section inside the app and exchange your crypto for any currency you want, and deposit it on your Crypto.com Visa card. Then, you can just use the card like you normally would with a Visa debit/credit card, so it’s a very flexible way to spend your crypto assets.
This saves you the trouble of having to convert your crypto to actual money and deposit it in your bank account so that you can use them to buy stuff. When you use this Visa card, you will receive cashback rewards as well as other benefits.
Which countries is USDC available in?
In the Help section of Crypto.com’s website, you will be able to see which countries the USDC coin is available in. It is available in almost all countries in Europe, Asia, and North America. It is even available in some countries in Latin America as well as in New Zealand and Kenya.
The link above will also show you how you will be able to link your bank account to your Crypto.com app. I recommend you check out this link before you attempt to link your bank account to your Crypto.com account to make the process smoother.
Other bank transfer options
In other countries where the above options aren’t available, you can use other bank transfer options. There are options for specific banks. Just go to the Help Center of Crypto.com and type in “bank transfer” in the search field.
You will then see all the available bank transfer options that Crypto.com offers. There are some different options for various currencies like Australian and Canadian dollars, for example. I highly suggest you read about these options if the above methods aren’t available for you.
Final Thoughts
As you can see, Crypto.com makes it very easy for you to withdraw money from your Crypto.com account to your bank account. There are a couple of options you can go for depending on the country you live in.
I would also recommend you opt-in for their Visa card because it’s a very convenient way to make use of the crypto assets you’ve accumulated on the platform.
Now, if you aren’t a member of Crypto.com yet, you can click the link below, and it will take you to the sign-up page of the platform. You will receive a $25 joining bonus by using the link below. Just make sure to meet the requirements for this bonus.
For that, you can check out how to unlock your $25 Crypto.com bonus.
If you have any comments, questions, or you know of other ways to withdraw money from Crypto.com to your bank account, I would love to hear from you in a comment below.
