How to Cash Out Your Crypto on Crypto.com

Cashing out cryptocurrency on Crypto.com can be straightforward, but understanding the process and the options available can help you manage your funds more effectively. In this guide, we’ll cover everything from linking your bank account to completing the withdrawal process.

1. Setting Up Your Crypto.com Account

Before you can cash out, make sure you’ve completed the initial setup of your Crypto.com account. This includes verifying your identity and linking your bank account.

2. Verifying Your Identity

Crypto.com requires users to complete a Know Your Customer (KYC) process. Here’s how you do it:

• Log in to your Crypto.com app.
• Navigate to the "Account" tab.
• Select "Verify Your Identity" and follow the on-screen instructions.
• You will need to upload a government-issued ID and a selfie.

3. Linking Your Bank Account

To withdraw funds, you need to link a bank account:

• Go to the "Accounts" tab.
• Select "Fiat Wallet".
• Choose "Add Bank Account" and enter your banking details.

4. Understanding Withdrawal Options

Crypto.com offers several withdrawal options:

• Bank Transfer: Transfer funds directly to your linked bank account.
• Crypto Transfer: Transfer funds to another crypto wallet.

5. Bank Transfer Withdrawal

To withdraw funds to your bank account:

• Go to the "Accounts" tab.
• Select "Fiat Wallet" and choose the currency you want to withdraw.
• Tap "Withdraw" and enter the amount.
• Select your linked bank account as the destination.
• Confirm the details and complete the transaction.

6. Fees and Processing Times

Be aware of the fees associated with different withdrawal methods:

• Bank Transfer: May incur fees depending on your bank and location.
• Crypto Transfer: Fees are usually lower, but transactions can be subject to network congestion.

7. Monitoring Your Withdrawal

Once you’ve initiated a withdrawal, you can track its status:

• Go to the "Accounts" tab.
• Select "Fiat Wallet" and then "Withdrawal History".
• You’ll see the status of your transaction and any relevant details.

8. Troubleshooting Common Issues

If you encounter issues:

• Check Transaction Status: Ensure your transaction is still processing or if there are any delays.
• Verify Bank Details: Double-check the bank account information you’ve entered.
• Contact Support: Reach out to Crypto.com’s support team for assistance.

9. Tax Considerations

Remember that withdrawing crypto can have tax implications. It’s advisable to consult with a tax professional to understand how cashing out will affect your tax situation.

10. Staying Safe

To ensure your funds remain secure:

• Use strong, unique passwords for your Crypto.com account.
• Enable two-factor authentication (2FA).
• Regularly review your account activity.

By following these steps, you can effectively manage and cash out your cryptocurrency on Crypto.com with confidence.