How to Transfer crypto from Crypto.com to your Bank account
How to Transfer Crypto from Crypto.com to Your Bank
Possibly best known as one of the pioneers of crypto cards, crypto.com has revolutionized blockchain and finance technology, blending Tradfi with the crypto ecosystem and making it easy for users to find and use its products.
It's also one of the most accessible platforms to on and off-ramp funds. The crypto markets wait for no man, operating 24/7. So you can make moves whenever you want. However, you want.
Today, we're taking a deep dive into everything crypto.com offers, including the most crucial aspect: how to transfer crypto from crypto.com to your bank account.
Crypto.com: Everything You Need to Know
Crypto.com was founded in 2016 with the aim of simplifying the use of cryptocurrency. The company started out as a wallet service and has since expanded to offer a debit card, exchange, and mobile app. Crypto.com is headquartered in Singapore. The company has raised tens of millions of dollars in funding through ICOs and venture capital.
In 2018, Crypto.com launched its flagship product, the MCO Visa Card, which allows users to spend their cryptocurrency anywhere Visa is accepted. The card comes with a number of features, such as cashback rewards and airport lounge access. Crypto.com also offers a rewards program that gives users up to 5% cash back on all purchases made with the card.
In 2019, the company launched the Crypto.com Chain, also known as Cronos, a high-speed blockchain that enables instant crypto payments and hosts dozens of projects. The Chain is now live on Mainnet. According to Defi Llama, it’s the 8th highest ranking DeFi chain by TVL, with just over half a billion dollars locked.
Crypto.com is on a mission to accelerate the world’s transition to cryptocurrency. The company is building a series of products that make it easy for people to buy, use, and store their funds. The mission is to make crypto easier for everyone to enjoy this new technology's benefits.
Breaking It Down
Crypto.com offers a whole suite of products and services, making it one of the best-in-class options for cryptocurrency users.
First up, there's the crypto exchange, which supports all major digital currencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and over 200 others. You can purchase any of these coins directly from the platform with a debit or credit card.
Next up, the Crypto Earn accounts let you earn interest on your cryptocurrencies. You get rewarded for depositing coins, with rates ranging from 2% up to 12%, depending on the currency and the length of time you're willing to leave your funds untouched.
Finally, there's Crypto Credit — a cryptocurrency loan service that lets users borrow up to 50% of their deposit in USDT or USDC. Repayments are charged at interest rates starting from 8%.
How to Transfer Crypto from Crypto.com to Your Bank Account
Now, let's dive into the main event: how to transfer crypto from crypto.com to your bank account. The process is easier than you might think — just follow these simple steps:
Log in to your Crypto.com account and navigate to the “Account” section.
Select “Fiat Wallet”.
Choose your input and output currencies. You can select from BTC, ETH, LTC, USDT, or USDC for your Input Currency and a range of Fiat currencies for your Output Currency. It’s important to note that this process requires approval from crypto.com, which can take anywhere from a few days to a couple of weeks.
Enter the amount you want to exchange and click “Confirm”.
Fill in your payment details and review the order summary.
Click “Withdraw Now” to complete your exchange and transfer funds directly into your bank account. Depending on your country's regulations, you will have to pay a fee, and there may be a minimum or maximum amount you can withdraw.
And that's it! You've successfully transferred your crypto from Crypto.com to your bank account.
The process is safe and secure, with all exchanges taking place on the platform's integrated cryptocurrency exchange. In addition, Crypto.com takes data security seriously — they use sophisticated measures like Two Factor Authentication (2FA) and encryption technology to keep user accounts and funds safe.
The Beauty of the Crypto.com Visa Card
The Crypto.com Visa Card is one of the most impressive features of the platform, giving users access to their funds anywhere Visa is accepted and ATMs as well.
What's more, you can even pay for your purchases with crypto! All it takes is a few taps on your phone, and you're good to go.
It's also worth noting that the Crypto.com Visa Card has many benefits, including no annual fees, up to 5% cash back on all purchases, and free ATM withdrawals – with a monthly max limit. The Visa card is a way for crypto.com to incentivize users from dumping the Cro token.
To receive the best rewards, you’ll need to stake, and keep staked, a certain amount. The better the card’s rewards, the more Cro you’ll need staking.
So, if you're looking for an easy and secure way to transfer crypto from crypto.com to your bank account, the Crypto.com Visa Card is definitely worth considering.
The Takeaway
Crypto.com is one of the best-in-class options for cryptocurrency users, with a whole suite of products and services that make it easy to buy, use, and store crypto. In this article, we've walked you through transferring crypto from your Crypto.com account to your bank account.
The process is simple and secure, with all exchanges taking place on the platform's integrated cryptocurrency exchange. So, if you're looking for a reliable and safe way to manage your digital assets, Crypto.com is definitely worth checking out.
Thanks for reading! We hope this article has been helpful in guiding you through how to transfer crypto from Crypto.com to your bank account. If you have any questions or comments, feel free to join in on the discussion below.
Citations:
Defi Llama - Chains
Crypto.com - Main Page
Crunchbase - Company Summary