Here’s How to Transfer Money From Crypto.com to a Bank Account 2022

August 16, 2022|University

With cryptocurrency, to say it is gaining popularity is an understatement. A recent statistic finds that a post containing Bitcoin appears every three seconds on social media. The market size for crypto is growing, and predictions say that it will get to $1087.7 million by the year 2026. For novices looking to invest in crypto, things may seem quite daunting. For starters, do you know how to transfer money from Crypto.com to a bank account?

Crypto differs from standard currency and requires education to start. But, the good news is that all the details are in this article. So, stick around, keep reading, and you will understand how to transfer money from Crypto.com in no time.

Three, two, one… here it goes.

What Is Crypto.com?

Crypto.com is a trustworthy platform you can use for cryptocurrency exchange. It has been available since 2016 and is accessible in over 80 countries. 

For United States traders, Crypto.com has over 90 cryptocurrencies available. Plus, it has over 60 fiat currencies.

Here are the names of some cryptocurrencies that are available for trading on Crypto.com:

Crypto.com is suitable for experienced crypto traders, and it is very popular. Exchanging is easy. However, due to all the features on the website, it can be overwhelming.

This site provides a high level of security and a digital Crypto.com wallet. Further, the fees for using it are cheaper than other crypto exchange platforms, which is important to many users.

Watch How To Transfer Money From Crypto.com To a Bank Account

Transfer Money from Crypto.com

After you trade for some time, eventually, you will choose to transfer your cryptocurrency from crypto.com to your bank account. Of course, you can trade in a brief amount of time, but it is a process, as this article is about to outline for you.

Withdrawing is a series of steps. For example, here is what you want to do to transfer money to your bank account.

First, open the application Crypto.com. Next, you must link a preferred bank account. You will want to click on transfer if you have a linked bank account. To locate this, look under the crypto account balance.

Next, at the bottom of your screen, a pop-up will appear. You will see two options. One is “deposit.” The other is “withdraw.” Select “withdraw.” Now, two more options will appear: “Crypto” and “Fiat.”Choose the option for “Fiat.” A description will say, “Withdraw Fiat to your bank account.”

Currently, you have an option for your currency of preference. Once you choose the currency you wish, add the amount of money you want to withdraw. As soon as you enter the amount you wish to remove, you can select the option “Withdraw.”

Finally, you will see a screen with a confirmation. It will have the amount that you withdrew. Also, you will see Crypto.com withdrawal fees, the time needed to process the transaction, the recipient, and how much you removed.

Restrictions

Especially if you are a new user of the Crypto.com wallet, you want to become familiar with a few caveats.

There is a restriction on how much they let you withdraw each month. Therefore, before proceeding with any withdrawal transaction, you must consider this. Each month, Crypto.com will allow you to withdraw roughly $50,000. However, you cannot remove under $100.

Withdrawing Crypto from Crypto.com

You must be at a “Starter” level or higher to withdraw cryptocurrency on the platform Crypto.com. Also, there are specific steps to take.

To withdraw crypto, here is what you must do. First, log into your account on Crypto.com. Upon successfully entering your account, navigate to the upper right-hand corner, where you must click on “Balance.”

Next, find the cryptocurrency you want to withdraw. Then, select “Withdraw.” Here, you have two options. You can withdraw cryptos to your external wallet, or you may wish to withdraw to your Crypto.com application (this is if you have connected the exchange and Crypto.com app).

Now, if you would like to withdraw cryptocurrency to an external address, it is necessary for you to add this address. However, also, remember to select the correct currency. When you wish to withdraw CRP, you can see relevant addresses. For the address you want, add a label. Then, enter a verification code from Google to save the address.

Next, you must choose with withdrawal address from your drop-down list. Then select how much you want to withdraw again. When you are ready, you can pick “Review Withdrawal.”

Review all the details. Remember that the amount you get is what they leave after applying the Crypto.com withdrawal fees.

Finally, choose “Confirm Withdrawal.” It can take up to two hours for the withdrawal process to complete.

Automate Withdrawals with Crypto.com

Crypto.com holds users’ deposits in cold storage. This measure is for security reasons. However, when a user starts a withdrawal request, it will automate it for all cryptos.

Plus, many withdrawals are instantaneous. Therefore, it is unusual for a withdrawal to take longer than two hours to process. 

how to transfer money from a Crypto.com to a bank account 2022

2-Factor Authentication on Crypto.com

Over 300 million people use cryptocurrency worldwide. However, with growing popularity comes risks and the need for heightened security.

If you wish to add a whitelisted address and initiate a crypto withdrawal, 2-factor security is required.

Withdrawal Address Safelisting

If you want to transfer to a new address, you must perform withdrawal address safelisting. This measure is to increase security for your funds.

For safelisting, first, select the “Transfer” button. Next, navigate to the following in this order: 

  1. “Withdraw”
  2. “Crypto”
  3. “External Wallet” 

Once you get here, click “+Add Wallet Address.” Next, select the crypto you wish to withdraw. Then you will want to type, paste, or scan the address for the withdrawal. Assign your wallet a name. Select “Continue” after you give it a name. Your authenticator application will produce a 6-digit verification code. You can enter it at this point. Now, for every withdrawal address you want to add to your safe list, you will repeat these steps for each.

Remember that you will want to remove any white space that may appear before or after a character while you input the withdrawal addresses. You must remove it if it is not a part of the address. If you do not do this, it may cause tremendous errors and even loss of funds. 

Making a Crypto Withdrawal 

First, find the home screen on the app. Then, follow these steps.

  1. Click on “Transfer”
  2. Select “Withdraw”
  3. Choose “Crypto”
  4. Pick “External Wallet”
  5. Locate the withdrawal address on your safe list
  6. Tap “Withdraw”
  7. Enter the amount you want
  8. Tap “Withdraw”

Once you complete these steps, a confirmation will generate for this withdrawal address. As well as for the withdrawal, you will receive a confirmation for the request. Check your email and make sure you can find it. This step is essential. It is proof that Crypto.com acknowledges it has your request and will take care of it soon. You will receive a different notification when the request completes processing.

Crypto Trade Warning

You may find you will receive an email for something that you did not request, like an address allowlisting or a crypto withdrawal. If you get anything like this, it is of immediate concern. Contact the support team at Crypto.com right away.

Their support team will help you address the issue. In the event that this happens you may need to change your passcode, disable crypto transactions, and possibly stop the withdrawal request. Read on to learn more about how to transfer money from Crypto.com to a bank account.

Sell a Cryptocurrency

One more “how-to” item that this article highlights is how to sell cryptocurrency. It is a method that is not complex, but you will need to know how to navigate the platform to achieve this.

How to Sell a Token on a PC

When using a PC, you will need the Crypto.com Exchange, which is desktop friendly. Also, ensure that you use an account with a “Starter” level or higher. If you have a verified account, the rest is straightforward. 

  1. Visit Crypto.com/exchange
  2. Click “Log In” at the top right
  3. Enter your login credentials
  4. At the upper left, select “Markets.”
  5. Choose the market you want
  6. Select the preferred transaction pair
  7. Select the coin you want to sell
  8. Pick the crypto you wish to receive
  9. Press “Trade”
  10. At the lower right, click the type of order you want
  11. If satisfied with the “estimated value,” press the red “Sell” button

After making a certain number of sales, you can withdraw from your Crypto.com wallet, as mentioned previously. Selling tokens is slightly different on a mobile application, which you will see here.

How to Sell a Token on an iPhone

Increasing in popularity is the Crypto.com iOS application. Token enthusiasts love it.

It is user-friendly, and you can get a 30-day free trial period. In addition, there are no transaction fees during the trial.

To sell tokens on an iPhone with Crypto.com, take the following steps.

  1. Navigate to your account “Balance.”
  2. Click the button that says “Trade.”
  3. Select the option to “Sell.”
  4. Choose the currency you wish to sell
  5. To start a transaction, select “Crypto Wallet.”
  6. On the confirmation page, type how many tokens you are selling
  7. At the bottom, press a blue confirm button that says “Confirm.”

Complete these steps, and the funds will appear in your Crypto.com wallet.

You can transfer them to a credit card, which means you would deposit them into your visa card wallet. Here is how that works. 

  1. Go to the application’s “Balance” tab
  2. Press the button that says “Trade.”
  3. Touch “Sell”
  4. Choose which tokens you wish to sell
  5. Select the option “Card Wallet.”
  6. On the confirmation page, adjust the token amount
  7. To finish the action, select the button “Confirm.”

Your credit card will remain loaded as you sell and withdraw. So it will be ready to use whenever you want to use it. If you prefer to send the sale funds to your bank, the iOS application will allow you to do this. Here is the process for an in-app sale of crypto, which goes to your fiat wallet.

  1. Navigate to the “Balance” tab
  2. Choose the button “Trade.”
  3. Press “Sell”
  4. Select the cryptocurrency type you wish to sell
  5. Press the option “Fiat Wallet.”
  6. On the confirmation page, enter the token amount that you wish to sell
  7. At the bottom, click the blue button “Confirm.”

The term “Fiat” currency means traditional government currency, such as the United States dollar. 

As you will see here, iPhones are a little different from Android devices. 

How to Sell a Token on an Android

On the Android Crypto.com mobile app, users can sell their tokens and keep what they earn in their Card, Fiat, or Crypto wallet.

Follow these steps to sell coins on an Android with the Crypto.com wallet. 

  1. Go to the account “Balance.”
  2. Select “Trade”
  3. Touch “Sell”
  4. Select the currency you wish to sell
  5. Touch “Crypto Wallet”
  6. Select the amount of currency you wish to sell
  7. Click the button “Confirm.”

You can store your earnings in your Crypto.com wallet to purchase crypto more efficiently. However, sales funds must go to your Card wallet when you want to move them to your credit card. Here is how to accomplish this.

  1. Visit the “Balance” tab
  2. Touch “Trade”
  3. Select “Sell”
  4. Choose the tokens you wish to sell
  5. Click “Card Wallet”
  6. Enter how many tokens you wish to sell
  7. Touch “Confirm”

Now, you can transfer your Card wallet earnings to your Visa card. That is if you prefer to move it to your Visa card. Then, any way you would like to manage your cryptocurrency and earnings is up to you!

How to Transfer Money From Crypto.com to a Bank Account

That’s a wrap. We hope we’ve helped you to understand how to transfer money from Crypto.com to a bank account. It may seem overwhelming at first. With a few transactions, however, you will feel more comfortable and on your way to becoming an expert in cryptocurrency investing.

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