Having undertaken huge marketing efforts in industries such as sports and entertainment, Crypto.com is a global force in the cryptocurrency world, boasting more than 100 million users worldwide.
However, with its detailed interface and numerous features, the exchange can be tricky to navigate for beginners. With that in mind, this article will provide step-by-step guidance on perhaps the most important function of Crypto.com: how to withdraw money.
Withdraw cash from Crypto.com – Quick steps
- Log into your Crypto.com account via the mobile app
- Select “Accounts”
- Select “Fiat Wallet”
- Select “Sell Crypto”
- Choose which cryptocurrency you wish to convert to fiat currency
- Select “Cash”
- Next, you’ll see a “sell” screen – enter the amount you wish to convert
- Once you see the confirmation window, select “Withdraw”
What to prepare before withdrawing
A few key steps must be taken before withdrawing money from Crypto.com.
Most importantly, unlike similar platforms such as Kraken and Binance, withdrawals cannot be made directly from the Crypto.com exchange. Instead, the process has to be completed via the mobile app.
Additionally, you must create a fiat wallet before withdrawing to your bank account. Here is an outline of how to complete that process:
Step 1: From the home screen of the Crypto.com app, select “Accounts” > “Fiat Wallet”
Step 2: Select “Set Up New Currency” and choose your preferred currency. Crypto.com currently supports withdrawals for USD, GBP, EUR, CAD, AUD, BRL, TRY, and SGD.
Step 3: Follow the on-screen instructions to connect your bank account to the new fiat wallet.
In addition, you must complete the Know Your Customer (KYC) verification process before you can make a withdrawal. Typically, this involves providing a series of key personal information, such as your full name, address, and a clear photograph of your ID.
KYC verification exists to prevent financial crimes such as fraud and money laundering, amd will only be required the first time you request a withdrawal.
Tip: The minimal withdrawal amount on Crypto.com in the United States is $100.
How to withdraw money from Crypto.com – Further steps
Now that you’ve set up a fiat wallet in your chosen currency, you’re ready to sell your crypto and withdraw the cash to your bank account. This process is split into two core stages.
Follow the steps outlined below to complete the withdrawal process.
Tip: Crypto.com is known for its modest fees and charges, but the exact amount will depend on the type of cryptocurrency you wish to sell, and the type of bank account used when requesting a withdrawal.
Stage 1: Sell your cryptocurrency
To cash out on Crypto.com, you must first sell your cryptocurrency holdings for fiat currency. This principle applies to any dynamic asset—you can opt to sell once you are satisfied with your profits, or when you want to cut your losses. Here’s how to complete this process:
Step 1: Tap “Accounts” to view a breakdown of your fiat and cryptocurrency holdings
Step 2: Select the cryptocurrency you wish to sell, and select “Sell”
Step 3: Choose the “Cash” option and choose the amount you wish to convert into fiat currency (the app will tell you the maximum amount you can sell)
Step 4: Once you’ve made your selections, hit “Sell”, and you’ll see a window confirming the amounts, rates, and any fees that may apply
Step 5: Hit “Confirm”, and you’ll be presented with a confirmation screen.
Stage 2: Withdraw to your bank account
Once you’ve successfully sold your cryptocurrency, you’ll be ready to withdraw the funds to your bank account.
This process can be carried out in several different ways depending on the type of fiat currency being withdrawn. In this case, we are using GBP as an example. Here’s how to complete this process:
Step 1: Open the “Fiat Wallet” in the Crypto.com app
Step 2: Hit “Transfer” and then “Withdraw”
Step 3: Select the amount you wish to withdraw and hit “Withdraw Now”
You may have already connected your bank account to the fiat wallet, but if not, you can do it at this stage by selecting “Add Bank Account” and following the steps.
Tip: Crypto.com uses the Automated Clearing House (ACH) Network to transfer funds in USD. Be wary of the fact that some bank accounts do not support ACH transfers.
How to withdraw from Crypto.com to an external wallet
Another popular method of withdrawing funds from crypto exchanges is to transfer the assets to an external wallet.
This method is generally for those wanting to use a different exchange, or a fiat currency not supported by Crypto.com.
Whitelisting an external wallet address
Crypto.com requires you to ‘whitelist’ any new addresses you wish to send assets to. Here is a step-by-step guide to whitelisting a withdrawal address:
Step 1: Navigate to “Accounts”, find your crypto wallet, and tap to open it
Step 2: Hit “Transfer”, “Withdraw”, and select “External Wallet”
Step 3: Select “Add Wallet Address”
Step 4: Pick the cryptocurrency you want to send and its respective network (E.g. $ETH via the ERC20 network)
Step 5: Type, paste or scan the wallet address you want the crypto to be sent to
Step 6: Give your wallet address a nickname to make the process quicker next time, and hit “Continue”
Step 7: You will receive a verification code via text message – enter the code and continue.
Once these steps are completed, the external address has been whitelisted. Now, you can proceed to withdraw assets from Crypto.com to an external wallet.
Complete a transfer to your external wallet
To make a transfer to your newly-whitelisted external wallet, simply follow the steps for selling cryptocurrency above, but select “Transfer” when you click on your chosen cryptocurrency instead of “Sell”.
From here, follow these simple steps to complete the process:
- Select “Withdraw”, then “External Wallet”
- Find your newly-whitelisted external address and select it
- Select your desired amount and hit “Withdraw”
- The process should now be completed, with the funds reflected in your external wallet.
Tip: If you want the transaction ID, navigate to “Transaction History” in the Crypto.com app, and click on the “Withdraw to address” hyperlink.
Crypto.com withdrawal fees
| Coin | Withdrawal fee | Minimum withdrawal |
| Bitcoin ($BTC) | 0.0006 | 0.0012 |
| Ethereum ($ETH) | 0.000035-0.005 | 0.00007 – 0.01 (network dependant) |
| Solana ($SOL) | 0.002-0.008 | 0.004-0.016 |
| Ripple ($XRP) | 0.18-16 | 0.36-32 |
| USD Coin ($USDC) | 0.3-0.5 | 0.6-1 |
FAQs
Can I transfer money from Crypto.com to my bank account?
Yes, you can withdraw money from Crypto.com to your bank account in a range of different currencies. Once you have sold your crypto for fiat currency, select “Transfer”, “Withdraw” and “Fiat”, and then you can follow the steps to finish the withdrawal process.
How much does Crypto.com charge to withdraw money?
The withdrawal amount will depend on which cryptocurrency you are selling and which transfer service you are using. For instance, for $BTC, the withdrawal fee is 0.0006.
Can you turn cryptocurrency into real money?
Yes. Cryptocurrency exchanges, such as Crypto.com, ByBit and Kraken, allow you to buy and sell cryptoassets using fiat currencies. Once you have sold cryptocurrency for fiat currency, you can withdraw it from the exchange to your bank account.
