Welcome to this post, where we are going to see how you can withdraw your money from Crypto.com to your bank account step by step.
For this, I am going to use two platforms, binance and Crypto.com. If you don’t have an account with either of these platforms, you can create one just below.
Let’s first see how you can withdraw money directly to your bank account using crypto.com via wire transfer. But currently, there is no option to withdraw money to your credit card and have it instantly, so we will see later how to withdraw money to your credit card with another platform.
If you have set up a bank account, from the app you must go to accounts and fiat wallet. To withdraw by bank transfer, you must first make a deposit to your crypto.com account to verify that it is your account. If not, you will not be able to withdraw your money with this method. If you have already made the transfer, in fiat wallet, click on your currency, transfer and withdraw Fiat. Here select in fiat your currency, and if you have activated your bank account, you will be able to make the withdrawal by indicating the amount and clicking on withdraw, and confirming with the confirmation codes.
We will use binance to withdraw the cryptocurrencies to our bank account by credit or debit card, since Crypto.com does not have this option yet. So first, we must send our cryptocurrencies from Crypto.com to binance, and then withdraw them from binance to our bank account.
My recommendation is to use usdt or tether, although you can use any cryptocurrency. In my case and in this example, we will use USDT to withdraw them to our account. The first step is to transfer the cryptocurrencies to usdt with the amount you want to withdraw.
From Crypto.com to Binance
With the usdt in the account, we go to spot wallet on the computer or exchange on your mobile. Once we have the usdt in the spot wallet we click on withdraw, external wallet Address. Here, click on add withdrawal account and in network we will indicate binance smart chain, bep20, as it is the most economical and the fastest to use. In the different networks, we indicate bep20.
In adress or wallet address, we will have to copy the binance tether address. To do this, we will go to wallet, spot wallet, and search for USDT. Here, click on deposit, and check the bep20 network. Now copy the address, and paste it into Crypto.com. In label indicate a name, confirm with the google authenticator code and you will be able to use that address.
Now in wallet address choose it, just indicate the amount we want to withdraw and check all the data. As you can see, the commission is 2 dollars. Just enter the passwords and the verification code from your email, and you have already withdrawn the funds to binance. Remember to indicate the bep20 network in both Crypto.com and binance when you copy the address to avoid errors.
The operation is the same if you want to withdraw the funds to your metamask or trustwallet wallet, but always make sure to indicate the correct network to avoid problems and loss of your tokens.
After a few minutes, the USDT should appear in our binance balance.
Remember that if you don’t have a binance or Crypto.com account, in the description you will find a link to create your account.
With the usdt in our binance account, the next step is to exchange them for your currency, in my case euros. To do this, go to markets, fiat markets and look for the euro/usdt pair or the one of your currency. Here, we will go to buy, and exchange the usdt for euros or the currency you want. Indicate the amount you want to withdraw, and click on buy eur.
Now we go back to the main panel, and check that we have euros or the currency we have exchanged. If so, click on withdraw. Here, we go to fiat and select our currency, and the way we want to withdraw the funds. Either by credit card with a 1% commission, but it arrives instantly, or by bank transfer with a 0.80€ commission. Indicate the amount you want to withdraw and click on continue. If you have used the bank card, you will be able to see the balance directly in your bank account.
I hope this has helped you to withdraw your funds from Crypto.com to your bank account. In case you don’t have an account with either of the two exchanges, you can create your account just below.