How to Transfer Money Out of Crypto.com: Best Guide

Published: April 6, 2024 | Last Updated: April 6, 2024

Hudson Kisia

Hudson Kisia has been researching and writing content for ElementalCrypto since 2022. He has been writing about crypto, blockchains, and mining for more than 5 years now.

In this guide, I will show you how to transfer money out of crypto com.

Crypto.com is no doubt one of the leading crypto exchanges in the crypto world. Like other cryptocurrency platforms in the crypto space, Crypto.com users can deposit, withdraw, or transfer their digital assets on the platform.

how to transfer money out of crypto com
Crypto.com website address

If you are looking forward to transferring your money out of Crypto.com, there are two ways to do it:

  • Transfer to an external crypto wallet
  • Transfer to your bank account

In this step-by-step guide, let me take you through each of these two actions.

Transfer to an external crypto wallet

Crypto.com crypto transfer
Crypto.com crypto transfer

Maybe you want to take advantage of trading and investment opportunities outside crypto.com, or you simply want to transfer your money to a safer offline wallet, the following are steps to take:

1. Link your external wallet

The first step to transferring your crypto assets from Crypto.com to an external digital wallet is to link your external wallet to your Crypto.com exchange wallet or Crypto.com DeFi wallet.

To achieve this, take the following actions:

  1. Have your external wallet ready – this could be your online wallet on another cryptocurrency exchange platform such as Coinbase, an independent online wallet such as Trust Wallet, or an offline cold storage hardware wallet such as Ledger, etc.
  2. Log in to your Crypto.com account and head to the ‘Wallet’ page
  3. Click/Tap on the ‘Transfer’ tab
  4. Next, select ‘Withdrawal’
  5. Then, choose ‘External Wallet’
  6. On the ‘Withdrawal Address Allowlisting’ that comes up, click/tap on the ‘+’ button
  7. Choose ‘Wallet Address’ and insert your external address [for the wallet prepared in Step (1) above]. You can also capture the QR Code of your receiving address, if available.
  8.  Save your captured/inserted withdrawal address under a memorable label for future use
  9. Press ‘Continue’ to complete the crypto withdrawal process
  10. Wait for the confirmation email from Crypto.com

2. Withdraw your crypto

Once you have linked your external wallet to your Crypto.com wallet, it is now easy to transfer your crypto digital assets.

To do so, take the following actions:

  1. Navigate to the ‘Wallet’ page on the Crypto.com website or app
  2. Select the crypto to withdraw
  3. Choose ‘Transfer’
  4. Next, select ‘Withdraw’
  5. Then, choose ‘Transfer’
  6. Click/Tap ‘Withdraw BTC’, or change to your preferred crypto
  7. Insert the amount of money you want to withdraw
  8. Thoroughly review withdrawal details and confirm them, once satisfied
  9. Complete the two-factor authentication
  10. After completing the 2-factor authentication, wait for the crypto funds to be transferred to your external wallet

Transfer to your bank account

Crypto.com bank transfer
Crypto.com bank transfer

You probably want to make a fiat withdrawal of your gains on trade and investment, or simply want to use your money for fiat transactions, the following are the key steps to take:

1. Set up ACH direct deposit

We assume you want to withdraw to USD. You can still use the same steps for other permitted fiat currencies.

The following steps will succeed:

  1. Go to ‘Accounts’
  2. Click/Tap on ‘fiat wallet’
  3. Click/Tap on ‘US Dollars’
  4. In the ACH transfer section, Click/Tap on ‘Set up’
  5. After reading and agreeing to the terms and conditions, Click/Tap on ‘Next’
  6. Go through and understand the requirements for commencing an ACH direct deposit
  7. Link your bank account to the Crypto.com USD fiat wallet

2. Link your bank account

To link your bank account, take the following action steps:

  1. Login to your Crypto.com account
  2. Navigate to the fiat wallet page
  3. Choose the ‘Add Bank Account’ option
  4. Enter the required bank details, including the account number
  5. Wait for bank account verification by Crypto.com

3. Convert your crypto to fiat

Once you’ve set up the ACH direct deposit and liked your bank account, the next step is to convert your crypto to fiat money. In our case, let’s use the US dollars (USD) as the fiat currency. You can easily achieve this conversion by selling your crypto to receive your payment in USD.

To sell your crypto for cash, take the following steps:

  1.  On the Crypto.com app home page, select ‘Accounts’
  2. Then, select ‘Fiat Wallet’
  3. Next, select ‘Sell Crypto’
  4. Afterward, select the crypto assets you would like to sell to receive the USD
  5. Then, select ‘Cash’
  6. In the dialog box, enter the amount of crypto you wish to convert
  7. Verify the transaction details on the Confirmation window that will pop up
  8. Complete the sell transaction to receive your USD funds

4. Submit your cash withdrawal request

To make a bank transfer on Crypto.com, you will need to submit a cash withdrawal request.

You can make this request by taking the following steps:

  1. On the Crypto.com app home page, select ‘Transfer’
  2. Click/Tap on ‘Withdraw’ and then choose ‘Fiat’
  3. Click/Tap on your USD balance and then select ‘Withdraw USD’
  4. Next, select your bank account to receive the USD being transferred
  5. Confirm the withdrawal by Tapping/Clicking on the ‘Confirm’ button
  6. Wait for your withdrawal request confirmation
  7. If the request is accepted, wait for the funds to arrive in your bank account. This will take 3-5 business days. Upon successful transfer, you will be notified via your email address.

Things to keep in mind

To make your crypto transactions on Crypto.com successful, keep the following in mind:

  • The withdrawal fee charged by Crypto.com depends on your chosen withdrawal method.
  • The processing time of your transfer depends on your withdrawal method. While crypto withdrawal may take up to 5 business days, the fiat withdrawal method may to more time.
  • In case of errors in your bank account details, suspicious activity, or other security reasons, additional security measures may be taken. These may include a 24-hour withdrawal lock, 2-factor authentication via the authenticator app, and phone number verification, among others.
  • Due to electronic money regulation and other regulatory restrictions, for fiat withdrawal to a bank account in the United States, the USD withdrawal request may need to incorporate additional information including the Social Security Number, and phone number, among others.

What makes Crypto.com a popular option?

Crypto.com app features
Crypto.com app features

In case you are looking for this information as a process of making investment decisions, a variety of factors, including the following, make Crypto.com a popular option for many:

  • user-friendly interface and straightforward process that makes it a popular choice for crypto enthusiasts and starter-level investors in the world of crypto.
  • elaborate fee structure characterized by highly competitive fees.
  • More than 250 cryptocurrencies are supported. Visit the Crypto.com website for a complete list of cryptocurrencies supported.
  • support for 20+ fiat currencies.
  • support for many fiat deposit and withdrawal methods – including debit card deposit, credit card deposit, and bank wire transfer, among others.
  • available on multiple platforms – including an online platform via the Crypto.com website and a mobile platform via the Crypto.com mobile app
  • high-level security measures to protect Crypto.com users

Up Next

Crypto.com Exchange and Wallet Desktop App Explainer

does crypto.com have a desktop app

Crypto.com does not have a desktop app for its main product which is an exchange. However, it does have a desktop app for its DeFi Wallet. Many people find this confusing. I elaborate further below. Continue reading

 
Hudson Kisia has been researching and writing content for ElementalCrypto since 2022. He has been writing about crypto, blockchains, and mining for more than 5 years now.

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