- Introduction
- Prerequisites Before Cashing Out
- Step-by-Step Guide to Cashing Out
- Method 1: Sell Crypto for Fiat & Withdraw to Bank
- Method 2: Crypto.com Visa Card Spending
- Method 3: Peer-to-Peer (P2P) Transfers
- Understanding Fees and Processing Times
- Pro Tips for Efficient Cash Outs
- Frequently Asked Questions (FAQ)
- Conclusion
Introduction
Learning how to cash out on Crypto.com is essential for converting your cryptocurrency investments into spendable fiat currency. Whether you’re looking to access profits or simply need liquidity, this comprehensive guide walks you through every step of the withdrawal process. We’ll cover multiple cash-out methods, fees, processing times, and expert tips to ensure a smooth experience on one of the world’s leading crypto platforms.
Prerequisites Before Cashing Out
Before initiating withdrawals, ensure you’ve completed these requirements:
- Verified Account: Complete KYC verification with your ID and proof of address.
- Linked Bank Account: Add your bank details in the Fiat Wallet section.
- Sufficient Funds: Confirm available balance in your Crypto.com App wallet.
- Security Setup: Enable 2FA for transaction protection.
Step-by-Step Guide to Cashing Out
Method 1: Sell Crypto for Fiat & Withdraw to Bank
- Open the Crypto.com App and tap ‘Accounts’
- Select the cryptocurrency you want to sell (e.g., BTC, ETH)
- Tap ‘Sell’ and choose your fiat currency (USD, EUR, etc.)
- Enter the amount and confirm the transaction
- Go to ‘Fiat Wallet’ > ‘Transfer’ > ‘Withdraw’
- Select your linked bank account and complete withdrawal
Method 2: Crypto.com Visa Card Spending
Load your Crypto.com Visa Card with crypto or fiat, then spend directly at merchants – effectively cashing out through purchases.
Method 3: Peer-to-Peer (P2P) Transfers
Convert crypto to stablecoins like USDC, then transfer to external wallets or exchanges for alternative cash-out options.
Understanding Fees and Processing Times
- Selling Fees: 0.4% standard trading fee (lower for CRO stakers)
- Bank Withdrawals: Free for USD via ACH; $0.50-$50 for wires depending on region
- Processing Times:
- Bank transfers: 1-5 business days
- Crypto withdrawals: 5-60 minutes (network dependent)
Pro Tips for Efficient Cash Outs
- Convert volatile assets to stablecoins during high volatility
- Time withdrawals during business hours for faster processing
- Use ACH transfers instead of wires to avoid fees in supported regions
- Check daily withdrawal limits in account settings
- Monitor network fees before transferring crypto externally
Frequently Asked Questions (FAQ)
Q: Is there a minimum amount to cash out on Crypto.com?
A: Yes – minimum fiat withdrawals start at $20 USD equivalent. Crypto withdrawals vary by token.
Q: Why is my withdrawal option unavailable?
A: Common reasons include unverified accounts, regional restrictions, or temporary system maintenance. Check your account status in-app.
Q: Are cash-outs taxable?
A: Yes, converting crypto to fiat typically triggers taxable events. Consult a tax professional in your jurisdiction.
Q: Can I cancel a withdrawal after submission?
A: Only if processing hasn’t started. Contact support immediately via in-app chat for assistance.
Q: What currencies can I withdraw directly?
A: USD, EUR, GBP, AUD, CAD, and 20+ other fiat currencies depending on your region.
Conclusion
Mastering how to cash out on Crypto.com empowers you to seamlessly convert digital assets into usable funds. By following this guide’s methods and tips, you’ll navigate withdrawals confidently while minimizing fees. Always double-check transaction details and stay updated with Crypto.com’s latest policies through their official channels. Remember that market conditions and regulations may impact certain options – when in doubt, consult the platform’s support team for personalized assistance.
