Whether you're looking to cash out your cryptocurrency to your bank account or transfer it to a secure external wallet, understanding how to withdraw from Crypto.com is essential. This guide covers both fiat and cryptocurrency withdrawal processes in a clear, step-by-step manner.
Many investors consider withdrawal ease a critical factor when choosing a crypto platform. If you're ready to move your assets, you'll find that Crypto.com offers structured, though detailed, procedures for both options. We break down each method to help you navigate the process confidently and securely.
Withdrawing Fiat Currency to Your Bank Account
Transferring traditional currency (like USD, GBP, or EUR) from your Crypto.com Fiat Wallet to your bank account is a straightforward process. Follow these steps to complete a withdrawal.
Step-by-Step Guide to Fiat Withdrawal
- Log In to Your Crypto.com Account: Open the mobile app and access your account using your credentials.
- Access Your Fiat Wallet: From the bottom menu, select the "Accounts" tab. Then, from your list of wallets, choose "Fiat Wallet."
- Initiate the Withdrawal: Tap the "Transfer" button at the top of the screen. Then, select "Withdraw" from the options that appear at the bottom.
- Select Your Currency: Choose the fiat currency you wish to withdraw from the available options.
- Enter Amount and Choose Bank Account: Input the amount you want to withdraw. Select the linked bank account you want the funds sent to, then tap "Withdraw."
- Confirm the Transaction: Review the withdrawal summary, which includes details like the processing fee, estimated processing time, and recipient bank information. If everything is correct, tap "Confirm" to finalize the request.
Please note: Withdrawal fees apply, and minimum withdrawal amounts are typically around $100. Most fiat withdrawals are processed within a few minutes, but it can take 1-5 business days for the funds to appear in your bank account, depending on your location and currency.
Withdrawing Cryptocurrency to an External Wallet
Moving your crypto assets off the exchange to a personal wallet is a fundamental security practice. The process for withdrawing crypto from Crypto.com is efficient but requires attention to detail, especially with wallet addresses.
How to Transfer Crypto to an External Address
- Log In and Navigate to Crypto Wallet: After logging into the app, go to the "Accounts" tab and select "Crypto Wallet."
- Choose the Cryptocurrency: Select the specific cryptocurrency you wish to withdraw.
- Start the Transfer: Tap on the "Transfer" button for that asset.
- Select Withdrawal Type: Choose "Withdraw" from the bottom of the screen and then select "External Wallet."
- Choose or Add a Whitelisted Address: Select a previously whitelisted address or tap the "+" icon to add a new one (see more on whitelisting below).
- Enter the Amount: Input the quantity of the cryptocurrency you want to withdraw.
- Review and Confirm: Carefully check the confirmation screen, which displays the network fee, processing time, recipient address, and total amount. Confirm the transaction by selecting "Withdraw."
👉 Explore secure wallet options
Whitelisting withdrawal addresses is a crucial security feature that protects your assets, even if your account is compromised.
Understanding Crypto.com's Address Whitelisting
The Address Whitelist feature is a security protocol that restricts cryptocurrency withdrawals only to pre-approved external addresses. Once enabled, you cannot withdraw crypto to any address not on your whitelist.
How to Add an Address to Your Whitelist
- Follow steps 1-6 from the cryptocurrency withdrawal guide above.
- Instead of selecting an existing address, tap the "+" icon in the top right corner.
- Choose "Wallet Address."
- Select the Correct Network: This is critical. Ensure you select the blockchain network that matches the destination wallet (e.g., ERC20 for Ethereum, BEP20 for Binance Smart Chain). Sending funds on the wrong network will result in their loss.
- Paste the Address: Either paste the full wallet address manually or scan a QR code. Double-check for any extra spaces or typos.
- Name and Save: Give the wallet a recognizable name for future reference and tap "Continue."
- Complete Verification: You will be required to complete two-factor authentication (2FA) to finalize adding the address to your whitelist.
A 24-hour withdrawal hold is typically placed on newly added addresses as an additional security measure.
Frequently Asked Questions
How much can I withdraw from Crypto.com per month?
The platform allows fiat withdrawals up to $50,000 per month, with a minimum withdrawal amount typically around $100.
Can I cancel a withdrawal request?
Once initiated, withdrawal requests cannot be cancelled by the user. If you encounter an error or issue, you must immediately contact Crypto.com support through the in-app chat function for assistance.
Why can't I withdraw from my Crypto.com account?
Common reasons include an unverified account (you must be at least at the "Beginner" verification level), regional regulatory restrictions, failure to link a valid bank account, unsuccessful 2FA authentication, or a hold on a newly whitelisted address.
Does Crypto.com charge withdrawal fees?
Yes, fees apply for both fiat and cryptocurrency withdrawals. Fiat withdrawal fees vary, and crypto withdrawals incur a network fee, which is dynamic and based on blockchain conditions.
How long does a bank withdrawal take?
While the request is often processed quickly by Crypto.com, the time for funds to arrive in your bank account can vary from 1 to 5 business days, depending on your bank and country.
Is it safe to leave funds on Crypto.com?
For long-term storage, it is widely recommended to hold significant cryptocurrency amounts in a private wallet, such as a hardware or software wallet, for which you control the private keys. 👉 Learn about advanced security practices
Conclusion
Withdrawing funds from Crypto.com, whether as fiat currency or cryptocurrency, is a clear process designed with security in mind. By following the outlined steps, enabling features like address whitelisting, and rigorously using two-factor authentication, you can manage your assets safely and effectively. Always remember to verify all transaction details, especially wallet addresses and networks, before confirming any withdrawal.