How To Withdraw Money From a Crypto Wallet

Last Updated on July 11, 2025 by Olga Davis

Key Takeways

• Two types of withdrawals: to another wallet or to fiat (e.g. USD to bank).

• Selling crypto involves: exchange setup → transfer → sell → bank withdrawal.

• Wallet-to-wallet is simpler: just send to the correct address & network.

• Avoid mistakes: check addresses, use 2FA, whitelist addresses.

What Does It Mean to Withdraw from a Crypto Wallet?

Withdrawing from a crypto wallet usually means either:

1. Sending crypto to another wallet or exchange (e.g. moving BTC to Coinbase).
2. Converting crypto to fiat (USD, EUR, etc.) and sending that money to your bank.

Let’s explore both scenarios, starting with selling for fiat.

Step-by-Step: How to Withdraw Money from a Crypto Wallet to Your Bank Account?

This is the process you’ll follow if you want to cash out your crypto and withdraw the equivalent in fiat currency.

Step 1: Choose a Crypto Exchange

Select a reputable crypto exchange that:

• Supports your cryptocurrency (e.g. Bitcoin, Ethereum).
• Allows fiat withdrawals (e.g. USD, EUR).
• Is available in your country (e.g. Coinbase, Crypto.com, Binance).

🔐 Tip: You’ll need to complete KYC verification on most platforms before you can withdraw fiat.

Step 2: Transfer Crypto to the Exchange

If your crypto is stored in a private wallet (like Trust Wallet, or Ledger), you’ll need to send it to your exchange wallet.

• Copy your wallet address from the exchange.
• Open your wallet app and send the crypto to that address.
• Double-check the address and blockchain network (e.g. ERC-20, BTC) to avoid mistakes.

🕓 Depending on the network, transfers can take a few minutes to over an hour.

Step 3: Sell Crypto for Fiat

Once your funds have arrived on the exchange:

• Find the “Sell” or “Exchange” option.
• Choose your crypto and enter the amount.
• Select fiat (like USD or EUR) as your target currency.
• Confirm the transaction and review the conversion rate.

Your fiat funds will now appear in your exchange’s fiat wallet.

Step 4: Withdraw to Your Bank Account

• Go to Withdraw > Fiat.
• Link your bank account (if not already done).
• Choose the amount to withdraw.
• Confirm and submit the withdrawal.

💡 Withdrawal times vary by region and method (ACH, SEPA, FPS), but most take 1–5 business days.

How to Withdraw Money from a Crypto Wallet to Another Wallet?

Sometimes you’re not cashing out — just moving funds. Here’s how to withdraw crypto to another wallet:

Step-by-Step Guide

1) Open your crypto wallet (e.g. CoinRabbit, MetaMask).

2) Tap “Send” or “Transfer.”

3) Enter the amount.

4) To specify the recipient’s address, you’ll need to add it to the whitelist — this helps protect against accidental or fraudulent transfers.

5) Once the address is whitelisted, you can proceed with the transfer. Select the right address, click “Next”, and enter the verification codes to confirm your withdrawal. That’s it!

⚠️ Always triple-check the wallet address and blockchain — mistakes can’t be reversed.

⚠️ What to Watch Out For When Withdrawing Crypto

Withdrawing crypto or fiat isn’t hard, but here are some common mistakes to avoid:

❌ Sending to the Wrong Network

• BTC to an ETH address? Funds lost.
• Double-check both address format and blockchain.

❌ Forgetting Verification

• Most platforms require KYC + 2FA for withdrawals. However, CoinRabbit does not require verification from regular users, making the process more convenient.
• Set these up early to avoid delays.

❌ Withdrawal Limits

• Some exchanges limit daily/weekly withdrawals.
• Upgrade your verification level if needed.

❌ Surprise Fees

• Crypto withdrawals come with network fees.
• Fiat withdrawals may have processing fees depending on the method.

🛡️ Security Tips Before Withdrawing

• Enable 2FA and address whitelisting.
• Use trusted devices for transactions.
• Don’t share your keys or passwords — ever.
• Watch for phishing emails asking for withdrawal confirmations.

✅ Quick Checklist On How To Withdraw Money From a Crypto Wallet