Before anyone can learn how to withdraw money from Crypto.com, they should first have an overview of Crypto.com and what it entails. Crypto.com, as crypto enthusiasts understand it, is both an investing and trading platform that allows its users to access several services.
The most common feature of this platform is its crypto wallet, which allows users to send and receive different kinds of cryptocurrencies. This platform has several advantages, including allowing its users to spend their crypto investments as merchants through their debit card option. Both web and mobile versions support this platform.
How to Withdraw Money from Crypto.com – Introduction
The withdrawal process from Crypto.com is straightforward. Users can perform two types of withdrawals on this platform. The first withdrawal is withdrawing money from Crypto.com directly to their bank accounts, while the other is withdrawing cryptocurrency from the platform.
It is also important to learn that withdrawal addresses on Crypto.com are whitelisted. Whitelisting a withdrawal address on Crypto.com is a security measure that protects the user’s assets. Only whitelisted addresses will be allowed to receive withdrawals, and therefore, users must disable all other addresses once they are done using them.
How to Withdraw Money from Crypto.com – Step by Step
Before anyone can know how to withdraw money from Crypto.com, they need to understand that they must sell their currency within the application before they begin. To successfully execute a withdrawal on Crypto.com, here are the steps to observe:
Step 1: Log In to the User Account
Any user who wishes to withdraw their money from Crypto.com will automatically be expected to have an account set up. In that case, they will log into their account using the credentials that they used to register. If, by any chance, they have forgotten their passphrase, they will be expected to follow the Crypto.com prompts and request a change of it. Those with their passwords intact can tap on the Login button to access the features of Crypto.com.
Step 2: Select the Crypto Wallet Option
For those in this step, it should be obvious to them that they cannot transfer Crypto directly to their accounts for obvious reasons. In that case, they will be required to select the Crypto Wallet option. Through this option, users will be allowed to sell the currencies they have in their wallets to end up with fiat money. Once this option has been selected, users will then proceed to the third option.
Step 3: Sell the Crypto through the Application
This is one of the most fundamental steps in withdrawing money from Crypto.com. Users will be expected to select the cryptocurrency they want and the amount they wish to sell and tap on the sell button. For instance, if the user wishes to sell their Bitcoin tokens, they will be expected to tap on the Bitcoin option, select the amount they want to sell, and tap on the Sell button. All the converted funds will be moved to the fiat address later on. Those living in the US will use the default currency, which is USD.
Step 4: Set up Fiat Wallet
The fourth step from how to withdraw money from Crypto.com: once the user has sold the amount of cryptocurrency that they require, it will be deposited in their fiat wallet. Then, users will choose the required option and move on to the next step. The balance will be shown in the currency that was used during withdrawal. If the user wishes to convert them back to Crypto, they will also have that option on their application.
Step 5: Make a Transfer Request to Begin the Withdrawal Process
During this step, the user will tap on the Transfer button, and the withdraw option will pop up on the screen. They will then select the currency of withdrawal once more as well as the deposit amount.
Step 6: Set up Bank Account
Any withdrawal made will have to end up in an actual bank account. Therefore, the user will fill in their online banking credentials that will facilitate withdrawal. Then, they will verify bank details and link their account.
Step 7: Complete the Withdrawal
A confirmation screen will appear to highlight the needed fees to complete the operation to complete the withdrawal. Once have accepted the fees, they can click the Confirm button and complete the process.
How to Withdraw Cryptocurrency from Crypto.com
This process is a little more complicated than learning how to withdraw money from Crypto.com. For users to successfully perform their exchange, wallets will have to be at the starter level or higher. If you desire to learn how to withdraw cryptocurrency from Crypto.com, here are the steps:
Step 1: Log in to the Crypto.com
This step can only be taken if users log into the account using their credentials.
Step 2: Select the Wallet> Spot Wallet Option
This option will allow the user to view all the cryptocurrencies available for withdrawal in their wallet.
Step 3: Select and Withdraw
After the user has reviewed all their cryptocurrencies, they will select the one they wish to withdraw and go ahead with the Withdraw option. In this option, the user will choose the address they want to withdraw to, either an external address or the one connected to the exchange.
Step 4: Review the Withdrawal Process
Before withdrawal, the user will be required to ensure they confirm the amount they want to receive and the withdrawal fee. They will then input the verification code sent to their address.
Step 5: Confirm Withdrawal
Once the user is certain of the withdrawal process, they can then go ahead and click the confirm button to complete the process.
What You Need to Know about Crypto.com Withdrawals
As expressed earlier in the article on how to withdraw money from Crypto.com, withdrawals can only be performed on addresses that have been whitelisted. However, there is a simple process on how to whitelist an address on Crypto.com. The user will have to follow the following steps:
Step 1: Log in to their Crypto.com account
Step 2: Once the user is on the home tab, they will select the Transfer option
Step 3: Choose the Withdraw option that will be available at the bottom of the user’s screen, and then select Crypto>External Wallet.
Step 4: Select the + icon, which is located in the upper right corner of the screen. After that, the user will be required to choose the Crypto that they wish to withdraw and, later on, the Wallet Address.
Step 5: Select the Network.
Step 6: Paste the withdrawal address or scan the QR code
Step 7: Enter the wallet’s name and receive the verification message
Step 8: Complete the verification as well as two-factor authentication
Related articles: How to Sell on Crypto.com | What Is a Fiat Wallet
How to Withdraw Money from Crypto.com – Conclusion
As expressed through this review of how to withdraw money from Crypto.com, it is clear that the process is not so complicated. Users must be keen to ensure they have chosen the correct address and amount of money to withdraw. If the money is deposited to the wrong address, there won’t be any possible way to make the reversal. The user must contact the platform’s support team to initiate the cancelation and reversal process.