How to Withdraw Money from Crypto.com
Posted by Frank Gogol in Crypto | Updated on November 15, 2022
At a Glance: To withdraw money from Crypto.com, open the app, link a bank account (if you haven’t already), hit the Withdraw button towards the bottom of the screen, choose Fiat and select your preferred currency, enter how much you want to take out, and hit the Withdraw button.
If you’ve been trading on Crypto.com, you might be wanting to transfer cryptocurrency at some point. In this guide, we’ll explore the Crypto.com withdrawal process in detail. Read on to learn more!
Table of Contents
What Is Crypto.com?
Crypto.com is a cryptocurrency exchange platform and a trustworthy one. It has been around since 2016, and it has more than 90 cryptocurrencies available for U.S. traders, and more than 60 fiat currencies. It can be accessed by people from more than 80 countries.
Some of the cryptocurrencies you can trade on Crypto.com include:
- Enjin Coin
- USD Coin
- SHIBA INU
Crypto.com is popular because it is a great choice for traders who are more experienced. The exchange is not the hardest one to use, but it can be a bit overwhelming at first due to the website. It provides a digital wallet and high-level security. Furthermore, it is known to be a quite cheap alternative compared to other crypto exchange platforms.
How to Withdraw Money from Crypto.com
Withdrawing money from Crypto.com can be done in a series of steps. Here is what you will have to do if you want your money transferred:
- Open the Crypto.com application.
- Link a preferred bank account if you haven’t already. However, if you already have a linked bank account, click on transfer. This can be found under the crypto account balance.
- At the bottom of your screen, you will see a pop-up that gives you two options, respectively “deposit” and “withdraw”.
- Select “Withdraw”.
- There will be two options appearing on your screen: “Crypto” and “Fiat”.
- Pick the “Fiat” option that has the description “Withdraw Fiat to your bank account”.
- Select the currency you prefer.
- When you are done selecting the desired currency, you can fill in the amount of money you wish to withdraw.
- After you enter the amount you want to withdraw, you can select “Withdraw”.
- Now, you will get a confirmation screen once you click on the “Withdraw” button, where you can see the amount withdrawn. It also shows you the possible fees, as well as the processing time, recipient, and the total amount you ended up withdrawing.
There are some restrictions when it comes to how much you can withdraw every month, though, so you need to consider that before proceeding. Every month, you can withdraw about $50,000. You also cannot withdraw less than $100. In case you try to do so, they will notify you.
How to Withdraw Crypto from Crypto.com
Withdrawing cryptocurrency from Crypto.com is only possible if you are a Starter level or higher. Here are the steps you must take to be able to withdraw crypto:
- Go to crypto.com/exchange and log into your account.
- When you successfully log into your account, click on “Balance”. It is located in the upper right-hand corner.
- Look for the cryptocurrency you wish to withdraw and select “Withdraw”.
- You will have to choose from two different ways to withdraw cryptos: withdrawal to an external wallet address or withdrawal to your Crypto.com app in case you connected the app to the exchange.
- If you wish to withdraw to an external address, you will have to add a withdrawal address first. In order to do so, you must make sure you selected the right currency. Then, you will be able to see relevant addresses when you want to withdraw CRP. Add a label for that address and input your verification code from Google. Save the address at the end.
- Pick the withdrawal address from the drop-down list and then check the amount you want to withdraw again.
- Pick “Review Withdrawal” when you are ready.
- Look over your details. Bear in mind that the amount you get will be the one you are left with after a withdrawal fee is charged if it applies.
- Pick “Confirm Withdrawal”. It may take up to two hours for the withdrawal to be processed.
How to Automate Withdrawals on Crypto.com
The users’ deposits are held in cold storage by Crypto.com, which is all done for security reasons. But when you make a withdrawal request, it is automated for all cryptos. What is even better is that most withdrawals happen instantly, and they do not tend to take more than two hours to process.
Crypto.com 2-Factor Security
In order to do address whitelisting and start a crypto withdrawal, 2-factor authentication will be required.
Withdrawal Address Whitelisting on Crypto.com
Withdrawal address whitelisting is necessary to increase the security of your funds whenever you wish to transfer to new addresses. To do it, you will have to select the TRANSFER button and then go to “Withdraw”, then “Crypto” and then “External Wallet”.
Next, click on “+Add Wallet Address”. Pick the crypto you want to withdraw and then paste, type, or scan the withdrawal address. Give a name to your wallet and then select “CONTINUE”. You will have to enter a 6-digit verification code that your authenticator app produces. Then, you can repeat all these steps to save a whitelisted list of all the withdrawal addresses.
You must also make sure you remove any whitespace before or after the characters whenever you enter the withdrawal addresses. Anything that is not part of the address should be removed.
How to Make a Withdrawal
Making a withdrawal requires the following steps:
- Click on “TRANSFER” on the home screen of your app.
- Select “WITHDRAW”
- Pick “CRYPTO”
- Choose “External Wallet”
- Find the withdrawal address you whitelisted and tap “Withdraw”
- Enter the amount needed and tap “Withdraw”
When you get a confirmation for the withdrawal address, you will receive a withdrawal request confirmation. It’s important to check your email to find it. This shows you that Crypto.com has acknowledged getting your request and will get to it as soon as possible. When the request is processed, you will get a different notification.
Crypto Trade Beware
If you somehow end up getting an email for something you didn’t request, such as a crypto withdrawal or address whitelisting, you should contact the Crypto.com support team as soon as possible. They will help you disable crypto transactions, change the passcode and even stop the withdrawal request.
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- How Does Cryptocurrency Gain Value?
- How to Read Crypto Charts
Final Thoughts on Transfering from Crypto.com
As you can see, withdrawing money or cryptocurrency from Crypto is easy if you follow the right steps. We hope our guide was useful and you can now withdraw money/crypto quickly and safely.
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