Selling Crypto On Crypto.com Exchange (2023)

Crypto.com is an easy-to-use platform with an app that gives you quick access. According to the team behind Crypto.com, you do not necessarily need to use the website; the app can satisfy your needs.

First and foremost, you need to sign up for an account on Crypto.com and go through the Know Your Customer (KYC) process. After that, you must set up a USD fiat wallet carefully.

You can read about different currency setups and follow their respective processes, but for the sake of this article, I will use the USD currency as an example use case. The setup process, if done correctly, will take 1 or 2 business days or otherwise up to 7 days.

That’s because your fiat wallet must first be connected to your bank account. Once your fiat wallet is approved, you will be notified through email. You can find the “Accounts” button on the bottom, the second one from the left, as you can see below in the example image.

Then, there is a pop-up. Choose the “Fiat Wallet” option. Once you do that, you can find “Sell Crypto” on your screen and select it. Next, choose the cryptocurrency you’d like to convert to fiat from the list of your crypto assets.

On the “sell” screen, you can tap the amount field, and the app will suggest the minimum and maximum amount that you can sell and enter your desired amount. Now, select the “Cash” option, and you will see the confirmation window showing the actual live value of the cryptocurrency to fiat for 15 seconds.

You must pay attention to this window as it informs you of the amount you will receive in fiat money for the current crypto price. With these simple steps, you can sell your crypto asset for fiat cash.

Users of the Crypto.com app are not permitted to make transactions, withdrawals, or pay bills using their Crypto.com routing and account IDs. The Crypto.com app is required for all outgoing transactions, account logins, and requests for bank statements.

When you sell your crypto asset for fiat money, it stays in your “Fiat Wallet” on the Crypto.com app. As a result, you need to take a few more steps to submit a withdrawal request before receiving the money in your bank account.

After successfully setting up your USD fiat wallet on Crypto.com and selling your crypto asset for fiat cash, go to “Fiat Wallet” from the “Accounts” menu. Next, tap “Transfer” and “Withdraw” and then choose the currency that you want — in this case, USD. Furthermore, you need to tap on your USD balance, enter the amount you want to withdraw, and then “Withdraw USD,” as shown below.

Now, choose your bank, then sign in using your online account information. The bank account will be accessible for withdrawal once successfully added.

After that, carefully review the withdrawal details, like the amount and the chosen bank account, and tap “Confirm” to process it. It should be noted that Two-Factor Authentication (2FA) is not required for USD withdrawals. However, if you have already activated 2FA, the app will ask for the code when withdrawing.

A green window will pop up to notify you that your USD withdrawal request has been submitted and is being processed. When the process is complete, the withdrawal request status will be updated, as shown below.

For ease of use, in the table below, which is directly from Crypto.com’s website, you can see the details of ACH and wire transfers and compare them to decide which way of transfer is best suited for you.

After you go through these steps, you will receive your cash in your bank account.

How to sell crypto on Crypto.com for cash?

1. Go to the Crypto.com app
2. Go to “Accounts”
3. Choose “Fiat Wallet”
4. Choose “Sell Crypto”
5. Choose the cryptocurrency you want to sell for fiat.
6. Choose the “cash” option.
7. You can input the amount you want to change on the Sell screen.
8. For 15 seconds, a validation box will display the coin’s real, current value in fiat money.

How to sell crypto on Crypto.com and transfer it to a bank?

Do the steps said above to sell crypto for fiat and then follow these steps:

1. Go to “Fiat Wallet” from the “Accounts” menu. Tap “Transfer” > “Withdraw” > “USD”.
2. Tap on your USD balance and Withdraw USD.
3. Tap “Add Bank Account” or select the preferred bank account if it has already been added.
4. Review the USD withdrawal details and confirm to have it processed

How much does it cost to sell crypto on Crypto.com?

Maker-taker fees for Crypto.com differ according to your 30-day trading volume: $0 to $25,000: 0.40% maker, 0.40% taker. $25,001 to $50,000: 0.35% maker, 0.35% taker. $50,001 to $100,000: 0.15% maker, 0.25% taker.

How long will it take for the withdrawn money to be received in my American bank account?

It will take 3 to 5 business days. After Crypto.com’s internal evaluation, they will send you emails and push notifications to let you know.

What are the fees for withdrawing USD from my Fiat Wallet to my bank account?

Currently, no fees are associated with processing USD transactions from the app.

What are the withdrawal limits of fiat cash on Crypto.com?

• 100 US dollars is the minimum transfer threshold per request
• Daily maximum withdrawal cap of 100,000 US dollars
• Five withdrawal requests can be made in a day, at most
• 30-day rolling monthly withdrawal cap of 500,000 US dollars
• 30 withdrawal requests are the monthly limit

Conclusion

And there you have it! I wanted to share with you the process of selling crypto for fiat cash on Crypto.com and withdrawing it. As I said earlier, I used the USD as an example for the process, but you can see the other currencies’ process for yourself. It is basically the same process with a few different steps.

Even so, I am a crypto enthusiast and prefer my assets to stay as crypto. As Voltaire said: “Paper money eventually returns to its intrinsic value: zero.” Cryptocurrency, on the other hand, maintains its value because of its decentralized nature. Due to that, I keep my assets as crypto in my crypto wallets.

That is my personal preference, and you can do as you wish. Besides, Crypto.com has available features such as crypto wallets and fiat wallets for your convenience. You can choose whichever method you desire to keep your assets. On that note, you can read Bitcoin: A History Revisit (2023) to know why crypto is the future of money.