Are you interested in learning how to transfer money from crypto.com to a bank account? How much does it cost, how long does it take, and how long does it take to open a bank account in the United States of America, the United Kingdom, Canada, or Australia? If that is the case, then this post is for you.
How can I transfer funds from Crypto.Com to my bank account?
Crypto.Com is a cryptocurrency trading and investment platform for cryptocurrency traders and investors.
It has a user base of over 10 million in around 90 countries. It enables you to purchase or sell over 100 cryptocurrencies at their current market value.
Not only that, unlike the majority of other existing Cryptocurrency exchange platforms, it offers interest on your Crypto assets at a rate of 14%.
Additionally, it is available as a mobile application for both Android and iOS.
However, we will not discuss this here but will instead provide advice on how to withdraw funds from Crypto.Com to my bank account.
Yes, you can withdraw funds. However, most other cryptocurrency exchange platforms make it difficult to transfer funds straight to your bank account.
However, if you like to convert your Crypto assets to USD, EUR, or pound and deposit them into a bank account.
You may accomplish this in two steps:
- To begin, you must create a Fiat wallet on your Crypto.Com account.
- Now you can transfer funds to your bank account in the currency of your choice.
- Establish a Fiat Wallet
The procedure for adding a Fiat wallet is as follows:
- To begin, open the app and click the transfer icon. Then, scroll to Withdraw, Crypto, and then external wallet.
- You must also include a withdrawal address. To do so, click “+Add Wallet Address.”
- Now, select the Fiat currency wallet option.
- Select fiat wallet once more from the list of available options.
- On the following screen, click “+Add a new currency.”
- You will now be presented with the Deposit fiat via bank transfer screen.
- There, you can select your country’s currency. For instance, the US dollar.
- Once the wallet is configured, enter your bank account details.
- You are now ready to send cryptocurrency to the address you just added.
Money transfer to a bank account
The following describes how to transfer funds from crypto.com to your bank account:
- Before sending payment, verify that your address is Whitelisted. Otherwise, the Withdrawal will be ineffective.
- Transfer > Withdraw > Fiat > US Dollar.
- If your bank account has not been added yet, you can choose to add one.
- Continue by tapping the button.
- Conduct a search for and select the bank to which you wish to send funds.
- Enter your Internet banking login information.
- Choose the account to which you wish to transfer funds.
- Now, enter the amount of money you wish to deposit into your bank account.
- Now, click the Withdraw option to initiate a withdrawal.
- Please keep in mind that you must have at least $100 in your Crypto.Com account to initiate a transfer.
How long does it take to make a withdrawal?
As an example, if you transfer money using the Fiat wallet, it will take around three to five business days.
After you submit a request for a USD withdrawal, the funds will be credited to your bank account within 3-5 days.
How much does it cost to make a withdrawal?
If you withdraw USD from your Fiat wallet to your bank account, you will be charged withdrawal fees.
Transferring funds to a cryptocurrency wallet
Not only can you convert your currency to USD/EUR, but you can also transfer your cryptocurrency to another wallet of your choice.
How to withdraw cryptocurrency from crypto.com to your cryptocurrency wallet-
- Log in to your account via Crypto.Com or the mobile app.
- There, select the Transfer option and then the Withdraw option.
- Select Crypto followed by External wallet.
- Locate and tap on the withdrawal address.
- Once the transaction is confirmed on the blockchain, you will witness the Cryptocurrency being sent to your chosen wallet.