It has over ten million users spread across 90 countries. It allows you to purchase and sell over 100 cryptocurrencies at their actual value. It is also unique in comparison to many of the other cryptocurrency exchange platforms because it provides an interest rate of 14% for your crypto assets. The platform is also accessible as a mobile application on both major mobile operating systems, Android and iOS. Here are the steps for withdrawing money from Crypto.Com into my account at a bank.
You can withdraw funds. Yes, you can withdraw money. However, transferring funds directly into your bank account isn’t simple on the majority of crypto trading platforms. In any case, you can convert your crypto assets to USD, EUR, or GBP and deposit them in your bank account.
Investors can utilise Crypto.com to buy and sell various cryptocurrencies. You can keep your money in their accounts or transfer it using different methods, including ACH withdrawal, wire transfer, or credit card.
Crypto.com also has a variety of items available, such as crypto pay at the checkout, Visa cards, and numerous ways to earn crypto. Additionally, unlike other popular cryptocurrency exchanges, Crypto.com isn’t an education platform. It does not provide educational materials; however, it does provide services, relying on its customers to already have the necessary knowledge.
Crypto.com has also been identified as a secure platform because it provides FDIC insurance on USD balances, as well as insurance against loss or theft and two-factor authentication. Crypto.com also claims that all of its currency is stored in an air-gapped environment.
How to transfer money from crypto.com to a bank account:
Let’s transfer money directly from Crypto.com straight to the account you have on your credit card! To withdraw money in fiat currency, you must first trade your currency within 24 hours.Worry not to take note of the following steps, and you’ll be able to withdraw funds from Crypto.com into your bank account faster rather than later.
Step 1: Access Your Crypto Account
The first step is to login to your account to transfer funds. Because the Crypto.com app is used by more than one million customers, we’re going to focus on this app for the purpose of practical use. Click the login button to sign in and gain access to your account.
Step 2: Select “Crypto Wallet”
Since you aren’t able to transfer cryptocurrency directly to your account for obvious reasons, you’ll first have to sell the crypto and transfer the money to your account in fiat. To do that, tap “Crypto Wallet” on the menu at the top of the app.
Step 3: Use the Crypto.com App to sell your cryptocurrency.
It is essential to select the currency that you would like to sell. For example, suppose you’d like to sell Bitcoin. Select the Bitcoin option, and then click “Sell.” Choose the amount of crypto you’d like to sell. The funds will be immediately transferred to your bank account address following that. It is also important to choose a USD currency wallet in the country where you reside in the US. Once you’ve set an amount of coins to be used, press “Confirm,” and the money will immediately go into the USD money account.
Step 4: Open Your Fiat Wallet.
It’s time to create a fiat currency wallet! You’ve already sold your crypto assets, so the funds should be in your account. Click on the desired option and proceed.
The USD balance will be displayed right there. You will have the option of moving the funds back into a crypto wallet or starting with withdrawing them from the application.
Step 5: Click the Transfer Button to initiate a Withdrawal Request.
After you click “Transfer,” the Withdraw option will be displayed on the display. Again, you’ll have to choose the currency, the total sum of your deposit, as well as additional USD withdrawal information if you are within the USA.
Step 6: Set Up Your Preferred Bank Account
It is not possible to withdraw USD or any other currency without first opening an account with a bank.When the bank account and withdrawal address information are correctly linked with Crypto.com The app will allow you to connect with your banking account. You can do this by linking it through setting up an online account with your bank credentials. This will enable you to quickly confirm your bank account for withdrawals. Connecting your bank account will enable you to put your account on a whitelist list, allowing you to make use of it again any time you wish.
Step 7: Finish the Withdrawal Request Confirmation
Then, a confirmation screen will be displayed. You’ll be able to check out all the fees associated with your operation. The fees may differ based on a variety of variables, including your withdrawal amount and other factors. Press “confirm,” and there you go, waiting for your cash to be transferred!
It will take a while for the funds transferred to be deposited into your account at the banks. The average time to process a bank transfer takes between three and five business days. The app should notify you by email or push notifications when the money in fiat arrives at your door. This is how you can withdraw funds from Crypto.com into the bank account of your choice! It’s quick, easy, and very efficient.