How to Withdraw from Crypto.com to Revolut: The Ultimate Guide

Imagine this: You've been trading or storing cryptocurrency on Crypto.com, and now it's time to move your funds to a more traditional platform like Revolut. You're probably wondering, "Is it complicated? How do I ensure my funds are safe?" In this guide, we'll walk you through the process step-by-step, but more importantly, we’ll highlight essential strategies to streamline your experience and avoid common pitfalls.

Why Withdraw to Revolut?

Crypto enthusiasts often turn to Revolut due to its ease of use, low fees, and multi-currency support. Revolut allows users to seamlessly manage their fiat and crypto holdings in one place, making it a strong contender for those looking to transition from crypto to more traditional financial ecosystems.

Before we dive into the process, let's set the scene:

• You have funds in Crypto.com, whether it's Bitcoin, Ethereum, or another asset.
• You've linked your Revolut account, and you're ready to withdraw.

But here’s the twist: most people skip the preparation phase. They don’t think ahead about the steps involved, potential delays, or even tax implications, which leads to costly mistakes.

Step-by-Step Process to Withdraw from Crypto.com to Revolut

1. Ensure Revolut Supports the Currency You’re Withdrawing
   Key point: Revolut doesn't yet support all cryptocurrencies natively. It’s crucial to check if the currency you plan to withdraw is supported as fiat or cryptocurrency in Revolut.
   Pro tip: If your desired currency isn’t directly supported by Revolut, you can convert it into a supported fiat currency like EUR, GBP, or USD on Crypto.com first.

2. Link Your Revolut Account to Crypto.com
   This is where things start to get real. Linking your Revolut bank account to Crypto.com is straightforward.
   Here’s how you do it:

   • Open the Crypto.com app and navigate to the "Transfer" section.
   • Select "Withdraw," then choose your currency (fiat or crypto).
   • Add your Revolut bank details or wallet address. You’ll need your IBAN and BIC numbers for fiat transfers.
     Important: Revolut often requires a deposit for verification, so ensure you have a small balance in your account to facilitate this.

3. Convert Crypto to Fiat (If Necessary)
   As mentioned earlier, Revolut doesn't support every cryptocurrency.
   Key point: If your asset isn't supported, you must first convert your cryptocurrency into a fiat currency on Crypto.com.

   • Use the "Trade" option on Crypto.com to convert your crypto to a supported fiat currency, such as EUR or GBP.
   • Double-check the conversion rates to ensure you’re getting a fair deal. Crypto markets fluctuate, and timing your conversion can make a significant difference in the final amount you withdraw.

4. Initiate the Withdrawal
   Now comes the most critical step—initiating the transfer from Crypto.com to Revolut.

   • On Crypto.com, navigate to "Withdraw" under the "Transfer" tab.
   • Choose "Fiat" or "Crypto," depending on the type of withdrawal.
   • Select your linked Revolut account as the recipient.
   • Enter the amount you want to withdraw.
     Security tip: Use two-factor authentication (2FA) to secure your transaction and ensure that your funds are safe.

5. Wait for Processing Times
   Key point: Withdrawals aren't instantaneous. Depending on the currency, it could take anywhere from a few minutes to several days for your funds to appear in Revolut.

   • Fiat withdrawals typically take 1-3 business days.
   • Crypto withdrawals are generally faster but can still take several hours depending on network congestion.

6. Verify the Transaction on Revolut
   Once the transaction is complete, double-check that the funds have arrived in your Revolut account.

   • Open the Revolut app and check your balance.
   • Review the transaction history for the incoming deposit.
   • Important: If there’s an issue, contact both Crypto.com and Revolut customer support immediately. Both platforms have responsive support teams, but delays in addressing the problem can complicate matters.

Common Mistakes to Avoid

1. Not Double-Checking Currency Compatibility
   Before you even begin the process, make sure the cryptocurrency or fiat currency you want to withdraw is supported by Revolut. If not, you’ll need to convert it, and this step is often forgotten, causing unnecessary delays.

2. Ignoring Fees
   Both Crypto.com and Revolut charge fees for certain transactions.

   • Crypto.com may have withdrawal fees depending on the asset.
   • Revolut might charge a fee for converting currencies, particularly if you're doing it outside of market hours (e.g., weekends).
     Tip: Always review the fee structures of both platforms before initiating a transfer to avoid unexpected costs.

3. Rushing the Transaction
   Many users rush through the withdrawal process, especially when markets are volatile. Slow down. Take your time to ensure everything is correct—one wrong detail could result in funds being lost or delayed.

Benefits of Using Revolut for Crypto Withdrawals

So, why go through this process in the first place? Revolut offers several benefits that make it an appealing choice:

• Ease of use: The interface is user-friendly, and managing multiple currencies, both crypto and fiat, is simple.
• Low fees: Compared to traditional banks, Revolut charges much lower fees for currency conversion and transfers.
• Security: With advanced encryption and multi-layered security features, Revolut ensures your funds are safe.
• Instant access to fiat funds: Once your withdrawal is complete, you can spend your fiat money instantly via your Revolut card or app.

A Few Final Tips

• Stay Updated: Crypto and fintech platforms are always evolving. Keep an eye on updates from both Crypto.com and Revolut to ensure you're taking advantage of any new features or changes in the withdrawal process.
• Diversify: If you rely heavily on one platform, consider diversifying. Both Crypto.com and Revolut are excellent options, but having multiple withdrawal methods available ensures you're never stuck when one platform experiences downtime.

In conclusion, withdrawing funds from Crypto.com to Revolut is relatively straightforward, but there are a few critical steps you need to follow to ensure everything goes smoothly. By understanding the compatibility of your currencies, preparing for fees, and securing your accounts with 2FA, you can move your funds efficiently and securely.

Remember, the key to successful withdrawals is preparation and attention to detail. Avoid the common pitfalls, stay informed, and you'll be able to navigate the world of crypto and fiat with ease.