Many cryptocurrency holders choose to convert their digital assets into traditional cash for various reasons. Despite the advantages of cryptocurrencies, withdrawing to cash has become a common practice. In this article, we will describe the way to withdraw cryptocurrency to your bank card and recommend the best cryptocurrency exchange that supports this option.
If you want to convert your cryptocurrency into regular money, like USD or EUR, you’ll need to cash out crypto. To help you do this, we’ve put together a guide on how to cash out your crypto using some of the top cryptocurrency exchanges.
Best Crypto Exchange Cash Out Process
Coinbase:
- To start using Coinbase, you’ll need to create an account and complete the verification of your identity.
- To link your bank account with your Coinbase account, provide the necessary information.
- Move your cryptocurrency from your personal wallet to your Coinbase wallet.
- To sell crypto on Coinbase, go to the “Sell” section of the platform and choose which asset you want to sell.
- Specify the quantity you wish to sell and select the desired fiat currency that you’d like to receive. For instance, USD.
- Check the information about the transaction and verify that you want to proceed with the sale.
- After the sale is done, you will be able to transfer the funds to your bank account.
You can also cash out crypto using the best crypto exchange Binance or other well-known platforms such as WhiteBIT, Kraken, and Huobi. The process is almost identical.
Let’s consider WhiteBIT, for example.
WhiteBIT Withdrawals
How to cash out cryptocurrency from your WhiteBIT exchange account to your bank account? Here are the steps to complete:
- To access your WhiteBIT account, log in. In case you don’t have an account, create one and complete the required verification steps.
- To view the available balances of your cryptos, please go to the “Balance” section. This section should show you the amounts of different assets you currently have.
- Before transferring any crypto, make sure you have enough balance of the specific currency you want to withdraw. Choose the asset you wish to transfer from the available options.
- To withdraw your selected crypto, search for the options labeled “Send” and click on it to initiate the withdrawal process.
- Enter your bank account information including the account number, holder name, and other relevant details such as IBAN.
- Review and ensure that the bank account information you have entered is accurate. Any errors in the details provided may result in unsuccessful or delayed withdrawals.
- Verify the withdrawal request.
- Confirm the withdrawal. WhiteBIT will start transferring the funds. Note that the time it takes for the funds to reach your bank account may vary due to different factors. That may be the speed of the network and your bank’s processing time.
To check the progress of your withdrawal, go to the transaction history section, which will show you updates on the status of your withdrawal. To learn more about crypto trading and withdrawals, welcome to the WhiteBIT blog. Look for the guides of your interest in the search bar of the blog and improve your skills in trading.