Cryptocurrency trading is one of the most popular investment options. Someone trades on exchanges to earn income on the difference in prices; someone simply buys tokens to receive additional money in the future. Global companies accept virtual assets as payment for goods and services.
Recently, the trend of converting cryptocurrencies into fiat funds has increased. Therefore, it is worth figuring out how to replenish an account and how to withdraw crypto to bank account. It’s a relatively simple process. But it is essential to understand all its features. Thus, you will receive your funds in full.
Table of Contents
Step 1: Choose a Reliable Cryptocurrency Exchange
The first thing to do to sell cryptocurrency successfully is to find a suitable exchange. The service determines the speed of the transaction, the cost of virtual assets, and the commission size.
To withdraw funds, you should choose exchanges that have been on the market for quite some time and have a good reputation. So you will be sure that the operation will take place as quickly as possible, and you will get your money. To choose the best platform, you should pay attention to:
- user reviews;
- features of the service protection system;
- support service work.
Messages from other investors — what will tell you about the actual state of the exchange? The study not only reviews the site but also third-party resources. In this way, you can understand how well the business works, how it treats customers, and whether it helps to solve problems.
Security is another crucial point for transferring funds to a bank account. It is essential that the exchange reliably protects not only personal information but also all financial transactions. Therefore, it is worth choosing services that use multi-level encryption for user data and reliable transaction protection systems.
A helpdesk operator is a person who will help you solve all problems. The specialist must be qualified and able to find the best solution in the shortest possible time.
In addition, you should pay attention to the exchange’s functionality and the coins available for transactions. Thus, you can carry out all the necessary operations and convert crypto to fiat without additional fees.
To avoid wasting time looking for an exchange for selling digital assets for cash, contact WhiteBIT. It is one of the most extensive European cryptocurrency services. The platform guarantees the current rate of virtual assets and reliably protects personal data and transactions. Many reviews from other users confirm that WhiteBIT is a genuinely reliable and safe exchange.
Step 2: Set Up and Verify Your Account
For cryptocurrency exchange withdrawal, you need to create an account on the exchange. You need to specify:
- email;
- username;
After that, you need to go through to verify your identity. First, you need to complete the account setup. To do this, go to your mailbox and find a letter from the exchange where you registered. There will be a link that you need to follow. Or the system will send you a code to enter in a particular field.
Then, you need to pass KYC (Know Your Customer). It is a mandatory moment, without which you will not be able to receive money. For verification, you must provide documents confirming your identity and address. After the exchange checks your records, you can withdraw the cryptocurrency to a bank account.
It is worth filling out all the fields in the account form to pass the verification quickly. Remember that you need to specify actual data that matches the information in the documents. For confirmation, you need to provide photos of documents in good quality.
Step 3: Connect Your Bank Account
Before connecting a bank account to optimize crypto-to-fiat withdrawal, ensure the exchange supports your bank. After that, you need to enter your account details. At this stage, it is essential to check:
- bank account accuracy;
- correctly enter the recipient’s data.
It is better to additionally check all the bank account numbers than not to receive your money. Even an occasional typo will result in the funds being received by another person, and it won’t be easy to return them.
You will receive an alert after the exchange successfully integrates into your banking system. It can be a call, a phone message, or a mobile banking notification.
Step 4: Sell Your Cryptocurrency
The next step is to sell your cryptocurrency. It is a standard exchange process on the exchange. For this, you need:
- specify the cryptocurrency;
- choose fiat funds;
- select the number of tokens to exchange.
Most services automatically indicate how much money you will receive after the cryptocurrency withdrawal process. But note that not all exchanges automatically deduct fees. Each system has its percentage. So pay attention to this. Also, the bank may charge a commission when crediting funds.
Step 5: Initiate a Withdrawal
After the sale of the cryptocurrency, you can start withdrawing funds. You need to go to your account and the corresponding section to do this. Then enter the amount you need and select the details for enrollment.
Your exchange account must be verified for the withdrawal operation to be successful. You should also carefully check all the details and the amount of the transaction.
Step 6: Confirm and Wait for Funds to Arrive
The last part of the fiat currency withdrawal guide: transaction confirmations. Before clicking on the button to complete the transfer, carefully check all the data. It will only take a few minutes, but this way, you will be sure the money will go to your bank account. Cryptocurrency transactions are non-refundable; even a small typo can cause you to lose money.
The transaction takes from five minutes to a couple of hours. The waiting time depends on the workload of the exchange and the bank. If you transfer large sums, the system will need more time to process the transaction.
If you have problems transferring cryptocurrency to a bank account, please get in touch with support. The operator will track the transaction and tell you what caused the delay.
Please note that the money is automatically debited from your account on the exchange. You will receive a notification once the transfer is credited to the bank account.
Tips for a Smooth Withdrawal Process
When you know how to cash out crypto, you can safely operate with assets. There are a few tips to help make this process more efficient:
- choose the best time to exchange cryptocurrency;
- pay attention to the commission;
- stay safe.
When withdrawing money, there are also strategies. For example, you can sell virtual assets after the daily peak of activity. Thus, it will come out to catch the best course and get additional income. Most often, investors are active on the sites at night. It provokes changes in the exchange rate in the market.
At first glance, the small size of the commission does not play any role. But if you often withdraw funds, you will have a solid amount. In this case, it is better to carry out one large operation than several small ones.
Do not rely only on the protection of the exchange. The safety of your money also depends on you. Regularly updating your password will minimize data leakage. It is also worth enabling two-factor authentication to enter the exchange. You should not use public networks or mobile traffic to withdraw cryptocurrency.
The process of withdrawing cryptocurrency can be done without special knowledge and effort. All you have to do is select an exchange, create an account, connect a bank account, exchange cryptocurrency, and withdraw fiat funds. It is essential to find a good service that guarantees high security. Be bold and contact support if something goes wrong.