How to withdraw crypto to bank account?

Published 31 March 2023
How to withdraw crypto to bank account?

Many beginners wonder how to withdraw cryptocurrency to a bank account and if it is easy to do. Everything is pretty simpler than it might seem at first, because there are many ways to withdraw cryptocurrency to a bank account. You can use cryptocurrency exchanges, crypto exchanges, P2P services, crypto wallets and even crypto ATMs.

All these methods have different advantages and disadvantages. One of the most common problems when replenishing and withdrawing crypto to bank accounts are high commissions, complexity of operations, inconvenient interfaces and a generally low level of trust in the intermediaries of such operations.

Centralized cryptocurrency exchanges and P2P platforms are the most convenient, safe, and generally popular options. Such services win over competitors because of the ease of converting cryptocurrencies into fiat money, as well as lower commissions.

Why? Let’s take a look at how to manage crypto withdrawal with the help of various services.

Ways to withdraw cryptocurrency to a card from your wallet

Users worldwide can withdraw crypto to a bank account using the following options:

  • Crypto exchanges;
  • Crypto exchangers;
  • Peer-to-Peer exchange services;
  • E-wallet;
  • Crypto ATMs.

Each method has its own pros and cons. Some of them are quite unsafe, some – quite expensive. We’ll highlight each of them.

Cryptocurrency exchanges with card withdrawal

Cryptocurrency exchanges with withdrawal to the card

Most cryptocurrency exchanges provide users with the solution of how to cash out cryptocurrency. If we talk about centralized exchanges, before withdrawing, they require users to go through the KYC (know your customer) procedure to comply with the rules set by the regulator. The procedure only means that you need to confirm your identity.

In addition, due to strict legislation, withdrawals from crypto exchanges may be restricted in some regions. Therefore, you must first study restricted access zones before withdrawing cryptocurrency from a crypto exchange. Most likely, such platforms will inform you about registration restrictions.

However, centralized crypto exchanges are often considered the best option of how to withdraw from crypto to bank account, as they offer a high level of liquidity and security, as well as ease of use.


Centralized exchanges usually have a large pool of buyers and sellers, which means a higher probability of finding a buyer or seller for a particular cryptocurrency. This simplifies and speeds up the withdrawal of money from the exchange.


Centralized exchanges usually support fiat currency withdrawals, which means users can withdraw cryptocurrency as cash to their bank accounts. It is a convenient way for users to access their funds and use them for everyday expenses.

Convenient interface

Centralized exchanges often have a more user-friendly interface than any other services. This makes it easier for users to navigate the platform and withdraw funds. Even a beginner will intuitively figure out how to withdraw money from cryptocurrency to a card and how to trade on the stock exchange in general.


Centralized exchanges often have robust security measures in place, including two-factor authentication, encryption, and cold storage. This reduces the chance that the user’s funds will be lost or stolen during the withdrawal process.


Centralized exchanges are regulated, which means they must follow certain rules and procedures to prevent fraud and money laundering. This provides users with an extra level of security and ensures that their assets are held responsibly.

How to withdraw cryptocurrency from the WhiteBIT exchange: guide

If you consider exchanges as the best way for withdrawing cryptocurrency, let’s take a closer look at this option with WhiteBIT exchange as an example.


To withdraw your funds, you must first register and verify your identity. This is a fairly simple procedure, and you can complete it in 10 minutes.

To verify your identity, follow these steps:

  • Go to the Verification tab in the account menu;
  • Enter the data specified in the form;
  • Enter your residential address;
  • Upload a photo of your passport, ID card, or driver’s license;
  • Follow the further instructions.

Also, to secure your account, be sure to enable two-factor authentication.

You can complete it in the Security tab of your account menu.

To get started, download a key generation program like Google Authenticator;

Scan the QR code indicated on the Security page in the Two-factor authentication section;

Confirm the settings.

Now your account is more secure and withdrawing money to the card is safer.

Sell Crypto

After you have successfully registered, verified your identity, enabled two-factor authentication, you can start withdrawing cryptocurrency. You can withdraw to the card only fiat money, for example, euros or dollars. Therefore, if you have bitcoin or other cryptocurrency to withdraw it to the card, you need to follow a small procedure of converting cryptocurrency to fiat with two simple options.

Step 1. Sell cryptocurrency

First, you need to sell cryptocurrency. Follow these instructions:

  • Go to the Spot trading page;
  • Find a trading pair of your cryptocurrency with a fiat currency, such as USD or EUR;
  • Sell your cryptocurrency.

Step 2. Exchange cryptocurrency

You can also use a converter.

  • Go to the Trade menu;
  • Choose Quick exchange;
  • Choose the cryptocurrency you want to withdraw;
  • Exchange it at the current market rate for fiat currency.

Whichever option you choose, your WhiteBIT balance now has fiat currency, and you can withdraw it directly to your bank card.


To complete the crypto withdrawal, go to the Balances menu. You have three types of balances (Main, Trade and Collateral). The Total tab shows the total number of assets on all three balance sheets. To withdraw cryptocurrency, you need to transfer the required amount to the Main Balance.

To do this, select the Transfer option opposite your currency on the Trade balance. In the pop-up window, select the amount you want to withdraw and transfer it to the Main Balance. Now you are ready to withdraw funds.


On the Main Balance page, next to your fiat currency, select the Withdraw option. In the pop-up window, select the payment system through which the transaction will be made. Visa/Mastercard or GEO Pay options are available.

If you choose the first option, the money will be credited to the specified card. If you choose GEO Pay, you will need to additionally specify your card details on the GEO Pay website.

After this, the algorithm is very simple:

  • Enter the amount you want to withdraw;
  • Enter card data;
  • Confirm the withdrawal request.


Learn fees for withdrawing fiat currencies through different payment systems on our fees page.

Withdrawal of cryptocurrency to the card using an exchanger

Unlike cryptocurrency exchanges, like WhiteBIT, crypto exchangers serve only as a medium for cashing out crypto to fiat and vice versa. So usually you cannot exchange crypto for other crypto using these platforms. That is why crypto exchangers charge higher fees than exchanges.

As of pluses, if you don’t know how to cash out bitcoins, for instance, you can use crypto exchangers. They operate both with transactions to the bank account and cash withdrawals. For the latter, a user needs to attend the office of such a company and get cash in person.

Crypto exchangers vary, but mostly they don’t have as many requirements to a crypto withdraw process like KYC. Very often exchangers ask for your contacts like phone number and e-mail just to contact you. Highly unlikely that they will ask you to verify your identity.

Also, such platforms are very low in terms of safety, so you need to be extra careful when using crypto exchangers. It poses a certain danger of losing money because the only safety measure here is your trust.

P2P exchange services

Peer-to-Peer exchange services are also an option when you seek how to withdraw crypto to a bank account. Using these services, you post an ad with your price of purchase or sale included. You can buy or sell both crypto and fiat. If any other user of a P2P exchange agrees to accept your offer, you have a deal!

P2P platforms allow users to buy, sell and exchange digital assets.

One of the main advantages of P2P platforms is that they offer users more control over their digital assets. Unlike centralized exchanges, where users must deposit their funds, P2P platforms allow users to control their own private keys and operations from crypto wallet to bank account.

Another advantage of P2P services is that they usually offer lower crypto withdrawal fees than centralized exchanges because there are no intermediaries involved in the transaction process. In addition, P2P platforms often provide a variety of payment options, allowing users to buy and sell cryptocurrencies using a variety of payment methods, such as bank transfers, credit cards, and e-wallets.

P2P exchanges are the cheapest way to withdraw crypto to fiat. Also, P2P exchanges often use escrow accounts that enhance the safety level of such platforms. The funds are only released when P2P exchange receives money from both parts of the deal.

Overall, P2P platforms provide users with a more decentralized and transparent way to buy, sell, and trade cryptocurrencies. By eliminating intermediaries and allowing direct peer-to-peer transactions, these platforms provide users with greater security, control, and privacy.

How to withdraw cryptocurrency via P2P Express: guide

Now, you can withdraw your cryptocurrency via P2P Express service to the bank card. This service is available only to Ukrainian users who passed the KYC procedure. The only cryptocurrency you can sell is USDT, and the withdrawal will be made in UAH to a bank card in the scope of one transaction.

  1. Go to the Balances page and press P2P Express in the USDT field in the ticker’s list.
  2. On the open page, enter the USDT amount you want to see and the bank card details. In the field below, you will see the amount of UAH you will receive. Mark the checkbox that you agree that your transaction will be performed outside WhiteBIT via the third-party Service Provider. You are acquainted with and fully accept the Service Provider’s Terms and Conditions. Then, press Continue.
  3. Confirm the transaction. If you have it connected, you will receive a confirmation code in your inbox and the 2FA app.
  4. An order for selling USDT will be placed. Note that it can take some time. Wait until the transaction is completed and the UAH is sent to your card.

Using an e-wallet to withdraw cryptocurrencies

E-wallets are not the most popular way of how to cash out crypto. However, they are quite useful for such operations. Most of the e-wallets require users to register before using its services. After it, you can easily convert crypto to fiat money or the other way around. It takes just several clicks when you pick the crypto from your account and exchange it for cash.

E-wallets often charge higher fees than crypto exchanges and P2P platforms, but not that high as crypto exchangers. If you often use e-wallets, it’s a good option to convert bitcoin to cash.

How to cash out crypto through crypto ATMs

Crypto ATM is a very quick option of how to withdraw money from crypto. It is quite easy: you just need to scan the QR code and transfer crypto to this address. Then, receive cash or a bank transfer. For the latter, you need to insert your debit or credit card.

The main disadvantage of crypto ATMs, if you want to withdraw bitcoin to a bank account, is the significant fee. Crypto ATMs charge really a lot of money for its operations, so you can consider other ways of withdrawing crypto.

Special cryptocurrency plastic cards

Special cryptocurrency plastic cards are debit or credit cards that allow you to use cryptocurrencies in the same way as fiat currency. These cards work by instantly converting your cryptocurrencies to the fiat currency of your choice at the point of sale.

Features of cards with the possibility of direct withdrawal of cryptocurrencies

Cards that allow for direct withdrawal of cryptocurrencies typically have the following features:

  • Crypto range. It allows withdrawing plenty of cryptocurrencies, like Bitcoin, Ethereum;
  • Instant Conversion. The card converts cryptocurrencies to fiat currency instantly;
  • Regular card advantages. The card may be offered as a debit card, which can be used to withdraw cash at ATMs or make purchases, or a credit card, which can be used to make purchases and earn rewards;
  • Mobile App. The card may come with a mobile app that allows you to view balances, transaction history, and manage the card;
  • Security. The card provides security features to protect against fraud and suspicious transactions.

Is it legal to withdraw cryptocurrency to a card?

The legality of withdrawing cryptocurrency to a card varies by country and jurisdiction. In many countries, withdrawing cryptocurrency to a card is legal and regulated, while in others it may be restricted or outright banned.

It is important to research and understand the laws and regulations in your country before withdrawing cryptocurrency to a card. Some countries may require additional steps, such as obtaining licenses or registering with financial regulators, to legally withdraw cryptocurrency.

Additionally, some exchanges or services may have restrictions on the countries or regions where they offer card withdrawals. Always research and compare multiple options before choosing an exchange or service to ensure it is available and meets your needs.

Advantages of selling cryptocurrency for fiat with withdrawal to a card

Selling cryptocurrency for fiat currency with withdrawal to a card has several advantages, including:

  • Ease. Withdrawing to a card allows you to access your funds quickly and easily, without the need to transfer to a bank account first;
  • Speed. Card withdrawals are mostly faster than bank transfers, so you can get your money within several minutes to several hours;
  • No Bank Transfer Fees. Withdrawing to a card often eliminates the need for a separate bank transfer, which can save on fees;
  • Wide Acceptance. Cards are widely accepted for purchases and withdrawals, making it easier to use your funds.


Do I have to pay taxes when cashing out cryptocurrency?
Is withdrawing crypto taxable? Whether you have to pay taxes when cashing out cryptocurrency depends on your country's tax laws and the specifics of your financial situation. In many countries, cryptocurrencies are considered taxable assets, and the sale of cryptocurrencies may trigger a tax liability.

It is important to research and understand the tax laws in your country and consult with a tax professional if necessary. Also keep accurate records of all cryptocurrency transactions, including purchases, sales, and exchanges, to ensure compliance with tax laws and avoid potential penalties.
Why is my crypto withdrawal pending?
There could be several reasons why your crypto withdrawal is pending, including:

  • Network Congestion. If there is high demand on the blockchain network, it can take longer for transactions to be processed and confirmed, leading to delays in withdrawal;

  • KYC Verification. Some platforms may require additional verification for withdrawals, such as proof of identity, address, or source of funds, which could delay the withdrawal process;

  • Withdrawal limits. Some platforms may have daily or monthly withdrawal limits, which could prevent you from withdrawing a large amount of cryptocurrency at once;

  • Technical Issues. Problems with the platform's systems or connection to the blockchain network can also cause withdrawals to be delayed;

  • Maintenance. The platform may be undergoing maintenance or upgrades, which could temporarily affect withdrawals.
  • How do I cash out my crypto?
    You can use of the following options to cash out your crypto:

    • Crypto exchanges;

    • Crypto exchangers;

    • Peer-to-Peer exchange services;

    • E-wallet;

    • Crypto ATMs.

    • It’s you to decide when to cash out crypto and what option to choose, but experts believe that crypto exchanges and P2P-services are the best picks.
    Where is it better to withdraw cryptocurrency?
    Crypto withdrawal varies from place to place, so it depends on what you look for. Cryptocurrency exchanges, P2P exchange services are among the most convenient options for withdrawing crypto to bank accounts with low fees.
    How to cash out bitcoin?
    Before withdrawing on the card, bitcoin must be exchanged for the national currency. The most convenient way to do this is on a cryptocurrency exchange or a P2P service.
    To cash out bitcoin, for example, on the WhiteBIT cryptocurrency exchange, you need to:

    1. Sell bitcoin on the spot market for fiat currency, such as the US dollars.

    2. Or exchange bitcoin for dollars or other fiat currency in the Quick Exchange tab.

    3. The currency of your choice will appear in the Assets section.

    4. After that, you can choose a convenient way to withdraw funds to the card.

    5. Depending on the method, the money will be credited to your account in a matter of minutes to several hours.
      Also, WhiteBIT mobile application is simply the easiest crypto app to withdraw money to your bank account.