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How to Cash Out from Crypto.com: A Complete Guide for Everyday People
Hi readers,
Are you ready to cash out your crypto and turn it into real money? Crypto.com makes it easy to buy, sell, and trade cryptocurrencies, but what about cashing out? Don’t worry, we’ve got you covered. In this article, we’ll walk you through the whole process step by step. So, grab a cup of coffee, sit back, and let’s get started!
- Choose Your Cash Out Method
Crypto.com offers three main ways to cash out:
(a) Bank Transfer
- Pros: Secure and reliable.
- Cons: Can take 1-3 business days.
(b) Credit/Debit Card
- Pros: Instant cash out.
- Cons: Higher fees.
(c) Crypto Sell
- Pros: Exchange crypto directly for cash.
- Cons: May involve third-party platforms.
- Set Up Your Account
Before you can cash out, you need to set up your account. This involves verifying your identity and linking your bank account or credit/debit card. Follow the instructions on the Crypto.com app to complete this process.
- Initiate a Cash Out
Once your account is set up, you can initiate a cash out. Here’s how:
(a) Bank Transfer
- Go to the “Cash Out” section of the app.
- Select “Bank Transfer.”
- Enter the amount you want to cash out and your bank details.
- Review and confirm the transaction.
(b) Credit/Debit Card
- Go to the “Cash Out” section of the app.
- Select “Credit/Debit Card.”
- Enter the amount you want to cash out and your card details.
- Review and confirm the transaction.
(c) Crypto Sell
- Go to the “Sell” section of the app.
- Select the cryptocurrency you want to sell.
- Enter the amount you want to sell and choose “Sell for Cash.”
- Review and confirm the transaction.
- Track Your Cash Out
Once you’ve initiated a cash out, you can track its status in the “Activity” section of the app. You’ll receive an email notification when the funds have been deposited into your account.
- Fees and Limits
Crypto.com charges variable fees for cashing out, depending on the method and the amount of crypto you’re cashing out. There are also daily and monthly limits on cash outs. Check the Crypto.com website for the latest fees and limits.
- Cash Out Table
| Cash Out Method | Pros | Cons |
|---|---|---|
| Bank Transfer | Secure and reliable | Can take 1-3 business days |
| Credit/Debit Card | Instant cash out | Higher fees |
| Crypto Sell | Exchange crypto directly for cash | May involve third-party platforms |
- Conclusion
Cashing out from Crypto.com is easy and convenient. By following the steps outlined in this guide, you can quickly convert your crypto into real money. If you have any further questions, check out the Crypto.com support center or our other articles on crypto.com.
FAQ about cashing out from Crypto.com
Can I cash out from Crypto.com to my bank account?
Yes, you can cash out from Crypto.com to your bank account by using the Fiat Wallet.
What are the fees for cashing out from Crypto.com?
Cashing out from Crypto.com is free for Standard Tier. For higher membership card holders each outgoings will incur some fees.
- Basic Tier: Free for 1 monthly withdrawals.
- Silver Tier: Free for 2 monthly withdrawals.
- Gold Tier: Free for 3 monthly withdrawals.
- Platinum Tier: Free for 5 monthly withdrawals.
- Obsidian Tier: Free for 8 monthly withdrawals.
How long does it take to cash out from Crypto.com?
Cashing out from Crypto.com usually takes 1-3 business days, depending on the payment method.
What is the minimum amount for cashing out from Crypto.com?
The minimum amount for cashing out from Crypto.com is $20.
Can I cash out from Crypto.com to my credit card?
No, you cannot cash out from Crypto.com to your credit card.
Can I cash out from Crypto.com to PayPal?
Yes, you can cash out from Crypto.com to PayPal.
What are the limits for cashing out from Crypto.com?
The limits for cashing out from Crypto.com vary depending on your membership tier.
- Standard Tier: $100,000 per day, $500,000 per month
- Basic Tier: $50,000 per day, $500,000 per month
- Silver Tier: $250,000 per day, $1,000,000 per month
- Gold Tier: $500,000 per day, $2,000,000 per month
- Platinum Tier: $1,000,000 per day, $5,000,000 per month
- Obsidian Tier: $5,000,000 per day, $15,000,000 per month
What are the tax implications of cashing out from Crypto.com?
The tax implications of cashing out from Crypto.com depend on your jurisdiction.
Is it safe to cash out from Crypto.com?
Yes, it is safe to cash out from Crypto.com. The platform uses industry-leading security measures to protect your funds.