Sell Crypto on Crypto.com to Bank Account

You’ve ridden the crypto wave, watched Bitcoin soar, or maybe snagged a tidy profit on an altcoin like Ethereum or Solana. Now it’s time to cash out and get those dollars into your bank account. Crypto.com, with its slick app and support for over 250 cryptocurrencies, is a solid choice for American users looking to sell fast and withdraw USD securely. But the process isn’t a one-tap deal—there are steps to nail, fees to dodge, and tax rules to keep in mind. The IRS doesn’t mess around, and neither should you. This guide, crafted for U.S. traders, delivers a no-nonsense plan to sell your crypto on Crypto.com and move the cash to your bank. From account setup to tax prep, here’s how to lock in your gains and stay in control.

Why Choose Crypto.com to Sell Crypto?

Crypto.com stands out in the crowded crypto exchange space. Trusted by over 140 million users worldwide, it offers a user-friendly app, competitive fees (0.4% to 3.5% depending on the transaction), and robust security with AES-256 encryption and cold storage for most assets. For Americans, it’s fully compliant with U.S. regulations, registered as a Money Services Business with FinCEN, and requires KYC verification to ensure your transactions are legit. The platform supports selling major coins like Bitcoin, Ethereum, and CRO (Crypto.com’s native token) directly to USD, with ACH and wire transfer options to get funds to your bank. Plus, its transaction history export makes tax reporting less of a headache—an essential feature when the IRS treats every crypto sale as a taxable event.

Whether you’re a newbie cashing out your first Bitcoin or a seasoned trader unloading a diversified portfolio, Crypto.com’s intuitive interface and fiat wallet make the process smooth. But to do it right, you need a strategy. Let’s break it down step by step.

Step-by-Step Guide to Selling Crypto on Crypto.com and Withdrawing to Your Bank

This guide walks you through selling cryptocurrency on Crypto.com and transferring the USD to your bank account via the app. We’ll focus on the simplest method—selling to your fiat wallet—and cover alternatives like spot trading for advanced users. Before you start, download the Crypto.com app from the official website (crypto.com) or your app store and ensure you’re using the U.S. version.

Step 1: Set Up and Verify Your Crypto.com Account

If you’re new to Crypto.com, sign up through the app or website. Provide your email, set a strong password, and enable two-factor authentication (2FA) with an app like Google Authenticator. Hackers target exchanges, so don’t skip this step. Next, complete KYC verification, mandatory for U.S. users. Submit a government-issued ID (driver’s license or passport) and proof of address. For fiat withdrawals, you’ll need Advanced Verification, which includes your Social Security Number. Verification usually takes minutes but can stretch to a day during peak times. Once approved, you’re ready to trade and withdraw.

Step 2: Link a Bank Account

To withdraw USD, you need a linked U.S. bank account in your name—Crypto.com doesn’t allow transfers to third-party accounts. In the app, go to “Accounts” > “USD Account” > “Transfer” > “Deposit” > “Add Bank Account.” Use Plaid to securely connect your bank by logging into your banking portal. Alternatively, manually enter your bank details (routing and account numbers). You can link up to five accounts, but only verified accounts can receive withdrawals. If you hit issues, delete expired accounts via the “Edit” button and add a new one. Ensure the bank account name matches your Crypto.com KYC details to avoid rejection.

Step 3: Deposit or Confirm Crypto in Your Wallet

To sell, your crypto must be in your Crypto.com app wallet. If your coins are on another exchange or a hardware wallet, transfer them to Crypto.com. In the app, tap “Deposit” > “Crypto,” select your cryptocurrency (e.g., Bitcoin), and copy the deposit address. Paste this address into the sending wallet, double-check it (a single typo can lose your funds), and send the amount you want to sell. Blockchain confirmations may take minutes to hours, depending on the network. If your crypto is already in your Crypto.com wallet, check your balance under “Accounts” > “Crypto Wallet.”

Step 4: Sell Crypto to USD

Now it’s time to convert your crypto to USD. In the Crypto.com app, follow these steps:

• Open the app and tap “Accounts” at the bottom.
• Select “Crypto Wallet” and choose the cryptocurrency you want to sell (e.g., Ethereum).
• Tap “Sell.” You’ll see options for “Crypto” (to swap for another cryptocurrency) or “Cash” (to convert to USD). Choose “Cash.”
• Enter the amount to sell. The app suggests the maximum sellable amount if you tap the input field.
• Select your USD fiat wallet as the destination.
• Review the transaction. A 15-second confirmation window shows the USD value based on the current market rate, including fees (typically 0.4% to 3.5%). If the quote expires, refresh the screen.
• Tap “Confirm” to execute the sale. The USD lands in your fiat wallet instantly.

For advanced users, the Crypto.com Exchange offers spot trading with lower fees (as low as 0.075% for high-volume traders). Access it via the website, select “Spot,” choose your crypto pair (e.g., BTC/USD), and place a market or limit order. Once sold, transfer the USD to your app’s fiat wallet for withdrawal.

Step 5: Withdraw USD to Your Bank Account

With USD in your fiat wallet, you’re ready to withdraw. Here’s how:

• Go to “Accounts” > “USD Account” > “Transfer” > “Withdraw.”
• Select your verified bank account. If none appear, ensure you’ve completed Step 2.
• Enter the withdrawal amount. ACH transfers require a minimum of $20; wire transfers need $1,000.
• Review the details. Crypto.com charges no fees for ACH or wire transfers, but your bank may (e.g., $25 for incoming wires). There’s a $25 fee for SWIFT withdrawals if you’ve made a prior SWIFT deposit.
• Confirm the withdrawal. ACH transfers take 3-5 business days; wires take 1-2 days. You’ll get a confirmation email once processed.

Note: You must have made at least one successful USD deposit (via ACH or SWIFT) to the Crypto.com app before withdrawing to the same bank account, per compliance rules (help.crypto.com).

Tax Implications for U.S. Users

Selling crypto in the U.S. means dealing with the IRS. Every sale is a taxable event, treated as a capital gain or loss. If you sell Bitcoin for $60,000 that you bought for $40,000, you owe tax on the $20,000 gain. Short-term gains (held less than a year) are taxed as ordinary income (up to 37% depending on your bracket); long-term gains (held over a year) face rates of 0-20%. Losses can offset gains, reducing your tax bill.

Crypto.com provides transaction history exports under “Accounts” > “Export.” Use tools like CoinTracker or Koinly to calculate gains and losses, then report them on IRS Form 8949 and Schedule D. The IRS’s crypto FAQ page offers detailed guidance (irs.gov). If your trades are complex, a tax professional can save you headaches, especially with audits on the rise.

Tips for a Smooth Selling and Withdrawal Process

• Time Your Sale: Markets move fast. Use Crypto.com’s price alerts to sell at your target price and avoid FUD-driven panic sales.
• Check Fees: Selling fees vary (0.4% to 3.5%). Spot trading on the Exchange can cut costs for high-volume sales.
• Verify Bank Details: Ensure your bank account name matches your Crypto.com KYC to avoid delays or rejections.
• Secure Your Account: Enable 2FA, use a strong password, and never share your login details. Crypto.com’s cold storage is secure, but your account isn’t if you fall for phishing scams.
• Monitor Withdrawals: Track your bank account for incoming funds. If delays exceed 5 days, contact Crypto.com support via the app.

Common Pitfalls and How to Avoid Them

The crypto space is a minefield, but you can sidestep the traps:

• Unverified Accounts: Complete KYC and bank linking early to avoid hold-ups when you’re ready to cash out.
• Wrong Addresses: Sending crypto to the wrong wallet address is a one-way ticket to loss. Triple-check deposit addresses.
• Market Volatility: Prices can shift during the 15-second confirmation window. Be ready to refresh if the rate sours.
• Bank Fees: Some banks charge for incoming ACH or wire transfers. Check with your bank to avoid surprises.
• Tax Ignorance: Forgetting to track your cost basis can lead to tax errors. Log every buy and sell for accurate reporting.

Alternative Selling Methods on Crypto.com

Beyond the app’s “Sell” feature, Crypto.com offers other ways to cash out:

• Spot Trading: On the Crypto.com Exchange, place market or limit orders for tighter control over sale prices. Fees are lower (0.075% for high tiers), but it’s more hands-on.
• Crypto.com Visa Card: Top up your Crypto.com Visa Card with crypto (converting it to USD). Spend directly or withdraw cash at ATMs, though ATM fees apply ($2-$3 per withdrawal).
• P2P Trading: Crypto.com’s Onchain platform supports peer-to-peer trades, but it’s riskier and less common for USD withdrawals.

For most users, the app’s fiat wallet method is the fastest and safest way to get USD to your bank. Stick with it unless you’re a pro trader chasing lower fees.

FAQs

Can I sell any cryptocurrency on Crypto.com to USD?

Yes, Crypto.com supports selling over 250 cryptocurrencies to USD via the app’s “Sell” feature or the Exchange’s spot trading. Check your wallet for supported coins.

How long does it take to withdraw USD to my bank?

ACH transfers take 3-5 business days; wire transfers take 1-2 days. Processing times depend on your bank and Crypto.com’s internal review.

Are there fees for selling crypto or withdrawing USD?

Selling fees range from 0.4% to 3.5%, depending on the transaction. Crypto.com charges no fees for ACH or wire transfers, but SWIFT withdrawals cost $25. Your bank may also charge for incoming transfers.

Is it safe to sell crypto on Crypto.com?

Yes, Crypto.com uses AES-256 encryption, cold storage, and 2FA to secure your assets. Enable 2FA and avoid sharing login details to protect your account.

Do I need to report my crypto sales to the IRS?

Yes, every sale is a taxable event. Report gains or losses on IRS Form 8949 and Schedule D. Use Crypto.com’s transaction export for accurate records.

Conclusion

Selling crypto on Crypto.com and getting USD to your bank account is a straightforward process when you know the playbook. From verifying your account to timing your sale, each step is a chance to maximize profits and minimize risks. The platform’s security, low fees, and U.S. compliance make it a strong choice for American traders, but staying sharp—on fees, taxes, and market moves—is what separates the winners from the rest. Lock in your gains, secure your account, and keep the IRS in check. The crypto market’s a wild beast, but with this guide, you’re ready to tame it and take control of your financial future.

Jack Barnett

Jack Barnett’s cracked the code on blockchain and crypto gains, delivering no-hype, high-impact insights. He’s your guide to thriving in the decentralized wild—straight talk, real results. From wallet hacks to market plays, he’s logged the hours so you can seize the edge. Think of him as the coach who’s all in on your financial breakout." explore blockchain strategies learn about DeFi trends make it more concise.

Disclaimer: The information presented here may express the authors personal views and is based on prevailing market conditions. Please perform your own due diligence before investing in cryptocurrencies. Neither the author nor the publication holds responsibility for any financial losses sustained.