At a Glance: To withdraw money from Crypto.com, open the app, link a bank account (if you haven't already), hit the Withdraw button towards the bottom of the screen, choose Fiat and select your preferred currency, enter how much you want to take out, and hit the Withdraw button.
Crypto.com users can withdraw USD from the App by selling crypto to their USD fiat wallet and transferring USD funds from this wallet to their U.S. bank account(s) on the ACH network.
Crypto.com doesn't offer a bank account in a traditional sense. Your coins are held in a digital wallet. To access the funds, you'd need to sell your crypto so that the funds from that sale can be held in a fiat wallet as U.S. cash.
You can withdraw to bank accounts you have used to deposit funds into the Crypto.com App.
From crypto to cash
If you want to transfer cryptocurrency to a bank account, you'll need to use a conversion platform. Other options include selling cryptocurrency privately for cash or using cryptocurrency ATMs and debit cards.
Cryptocurrency Is Not FDIC Insured
If a bank fails, the FDIC insures deposits. Investors should know that if their crypto exchange goes out of business, no government agency will make them whole. That's different from a bank, where the government insures funds up to account and institution limits.
The USD Funds in your Fiat Wallet may be FDIC-insured depending on your state of residence. You may access and control the USD Funds in your Fiat Wallet by using your Crypto.com App. You will not receive any interest on your USD Funds.
At the end of the day, you have 5 options: a cryptocurrency exchange, an OTC brokerage, peer-to-peer exchanges, Bitcoin ATMs, and crypto gift cards. These are the most commonly used, and ultimately, the best way to cash out Bitcoin will depend on your specific needs and circumstances.
Withdrawals- Processing Time
Withdrawals to the Crypto.com App are instant.
Buying with a credit or a debit card will have a 2.99% fee, and if you exchange crypto within your account, the transaction will be free. SWIFT deposits and withdrawals will have varying bank transfer fees, and ACH and SEPA deposits and withdrawals are usually free.
Where can I withdraw cash with my Crypto.com Visa Card? You can withdraw cash from almost any ATM worldwide that bears the VISA or VISA Plus logo.
Use an exchange to sell crypto
One of the easiest ways to cash out your cryptocurrency or Bitcoin is to use a centralized exchange such as Coinbase. Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount.
There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network.
Yes, Crypto.com does report certain transaction information to the IRS.
A Bitcoin transaction cannot be reversed, it can only be refunded by the person receiving the funds.
USAA is one of the best banks for crypto as it is one of the leading investors in Coinbase with more than $150 million. What does it mean for USAA clients that are also cryptocurrency investors? USAA account allows you to manage multiple accounts from other financial institutions.
You can still buy, sell, and trade within Coinbase. However, you'll need to wait until any existing Coinbase account holds or restrictions have expired before you can cash out with your bank account. Withdrawal-based limit holds typically expire at 4 pm PST on the date listed.
Withdrawing cryptocurrencies can take a varied amount of time, based on the token or currency you have decided to withdraw. It can take anywhere between 1 and 24 hours for a transaction to be processed on the blockchain.