How to Sell Crypto on Crypto.com and Transfer Funds to Your Bank Account: A Step-by-Step Guide

Unlocking the value of your cryptocurrency investments is a crucial part of the digital asset journey. Knowing how to efficiently convert your crypto into traditional fiat currency and transfer it to your bank account is essential. This step-by-step guide will walk you through the entire process of selling your crypto on the Crypto.com platform and moving the funds to your bank securely and efficiently.

Prerequisites: What You Need Before You Start

Before initiating a sale and withdrawal, ensure you have the following in place:

• A Verified Crypto.com Account: Your account must be fully verified, which includes completing the Know Your Customer (KYC) process.
• Cryptocurrency in Your App Wallet: You must have the cryptocurrency you wish to sell (e.g., Bitcoin, Ethereum, CRO) in your Crypto.com App Wallet.
• A Set Up Fiat Wallet: You need to have a Fiat Wallet configured in your preferred currency (e.g., USD, EUR, GBP).
• Linked Bank Account: Your bank account must be successfully linked to your Crypto.com Fiat Wallet for the final withdrawal step.

Step 1: Selling Your Cryptocurrency for Fiat

The first step is to convert your digital assets into traditional currency within the Crypto.com ecosystem.

1. Open the Crypto.com App and log in to your account.
2. Navigate to your "Wallet" or "Accounts" section and select the cryptocurrency you want to sell (e.g., your Bitcoin wallet).
3. Tap on the "Sell" or "Sell Crypto" button.
4. Choose the fiat currency you wish to receive (e.g., USD) and ensure the destination is your Crypto.com Fiat Wallet.
5. Enter the amount of crypto you want to sell or the fiat amount you wish to receive.
6. Review the transaction details, including the exchange rate and any applicable fees.
7. Confirm the sale. The fiat amount will now be credited to your Fiat Wallet within the app.

Step 2: Transferring Funds from Your Fiat Wallet to Your Bank Account

Once the fiat currency is in your Fiat Wallet, you can initiate the withdrawal to your bank.

1. From the Crypto.com App, go to your "Fiat Wallet."
2. Select "Withdraw" or "Transfer."
3. Choose your linked bank account as the destination. If you haven't linked one, you will be prompted to do so by providing your bank details.
4. Enter the amount you wish to withdraw to your bank account.
5. Carefully review the withdrawal details. Take note of the processing time, which is typically 1-5 business days, and any potential transfer fees.
6. Confirm the withdrawal. You will receive a confirmation email, and the status can be tracked within the app.

Important Considerations for a Smooth Process

• Fees: Be aware of all applicable fees, including spread costs when selling crypto and potential wire transfer or ACH fees for bank withdrawals. Crypto.com provides a transparent fee schedule on their website.
• Processing Times: Selling crypto is usually instant, but bank transfers can take several business days to clear. Plan your withdrawals accordingly.
• Security: Always use secure internet connections and enable two-factor authentication (2FA) on your Crypto.com account to protect your funds during this process.

By following this guide, you can confidently sell crypto on Crypto.com and access your funds through your traditional bank. This process bridges the gap between the innovative world of digital currency and the established financial system, giving you full control over your assets.