How To Withdraw From Crypto.com
Crypto.com is a digital cash exchange that allows users to trade more than 250 cryptocurrencies using 20 fiat currencies through its app. It’s become a prominent platform because many consider it much more affordable — and much more secure — than other crypto exchanges.
Users looking to withdraw their digital cash can only do if they have a verified Crypto.com account at the Starter level or higher. They can then typically move their funds to their Crypto.com app exchange wallet or an external crypto wallet. Because fiat withdrawals aren’t supported yet, accessing your money can be a bit tricky, requiring you to sell your cryptos so that the funds from that sale can be stored in a fiat wallet as U.S. cash.
Whether you’re looking to withdraw digital cash or the fiat kind, withdrawing funds from Crypto.com requires several steps. Here’s a closer look at what those steps are.
How To Withdraw Digital Cash From Crypto.com
If you have a verified Crypto.com account and are at the Starter level or higher, you only have two transfer options available. You can move your funds to your Crypto.com exchange wallet or an external crypto wallet. To do this, you need to:
- Log into your account at crypto.com/exchange (this button is in the upper right-hand corner).
- After logging in, click on Wallets > Spot Wallet (in the upper right-hand corner).
- Find the crypto you’d like to transfer and select “Withdraw.”
- Choose whether you want your digital cash moved to your Crypt.com exchange wallet (free and instant), or an external crypto wallet (includes a withdrawal fee based on the crypto, a transfer fee, and around two to three hours to process).
- Enter the amount you want to transfer and — when you’re ready — select “Review Withdrawal.”
- Enter the SMS one-time password you receive along with a Google verification code and select “Confirm Withdrawal.”
How To Withdraw Money From Crypto.com
Because Crypto.com doesn’t support fiat withdrawals just yet, you don’t have immediate access to your money. To access it, you’ll need to sell your cryptos and store the U.S. money you receive for them in your Crypto.com USD fiat wallet. Once that’s done, you have the option of moving your money to a U.S. bank through an ACH or wire transfer.
ACH transfers have a minimum requirement of $20 per transaction, while wire transfers require at least $1,000 per transaction. Crypto.com doesn’t charge any fees for these transfers, but your bank might, so it’s important to check with your financial institution ahead of making a transfer.
How Soon Funds Will Be Available
Transferring cryptos to your Crypto.com exchange wallet happens instantly, giving you the fastest access to your digital cash. If you opt for an external crypto wallet instead, you’ll likely have to wait around two to three hours.
Selling cryptos is the only way to access your fiat money through Crypto.com. Those sales happen in U.S. currency and the amount you receive will be deposited into your Crypto.com USD fiat wallet, which you can then move to a U.S. bank through an ACH or wire transfer. An ACH deposit takes around three to five business days, while a wire transfer takes one to two.
Canceling a Withdrawal
Once a withdrawal’s made, you may not be able to cancel it on your own. You’ll likely need to contact Crypto.com’s customer support team for help with that. Crypto.com app’s chat function is the fastest way to reach them.
Withdrawing cash from Crypto.com requires a bit of work. Cryptos are quicker to access than cold hard cash but either one can be done if you follow specific steps. Always review the details of every transaction to avoid any serious mishaps. If a problem arises, you can always use Crypto.com’s app to contact the support team, who will immediately try to resolve it for you.