How Long Does It Take to Withdraw from Crypto.com to Bank?

To begin with, the time it takes to process a withdrawal can depend on the type of withdrawal you are making. Crypto.com offers different methods, including cryptocurrency withdrawals and fiat currency withdrawals. Each method has its own processing times, which are influenced by various factors such as bank processing times, network congestion, and verification requirements.

Fiat Withdrawals:

For fiat withdrawals (i.e., withdrawing traditional currencies like USD, EUR, or GBP), Crypto.com typically processes these requests within 1-3 business days. However, this is not the total time it will take for the funds to appear in your bank account. The total duration includes both the processing time by Crypto.com and the time taken by your bank to complete the transfer. In practice, this can range from 3 to 7 business days in total.

Factors Influencing Withdrawal Time:

1. Bank Processing Times: Banks have their own processing times for incoming transactions. Some banks process funds faster than others, and international transfers can sometimes take longer due to additional checks and conversions.

2. Network Congestion: Cryptocurrency networks can experience congestion, which might delay transactions. Although this mainly affects crypto-to-crypto transactions, delays can also impact the speed of fiat withdrawals due to the conversion process.

3. Verification Requirements: If your account or transaction is flagged for additional verification, this can delay the withdrawal process. Crypto.com has security measures to prevent fraud, and additional checks can add time to the processing period.

Cryptocurrency Withdrawals:

When withdrawing cryptocurrency from Crypto.com to an external wallet, the time frame can vary significantly based on the specific cryptocurrency you are using. Some cryptocurrencies have faster confirmation times than others. For example:

• Bitcoin (BTC): Typically takes around 10 minutes to 1 hour for confirmations, but can be affected by network congestion.
• Ethereum (ETH): Usually confirms within minutes, but can be delayed during high network activity.

Tips to Expedite Withdrawals:

1. Verify Your Account: Ensure that your account is fully verified to avoid delays due to additional checks.

2. Choose the Right Withdrawal Method: For faster processing, choose a method that aligns with the typical processing times of your bank or wallet.

3. Monitor Network Conditions: Be aware of network congestion during peak times, and try to make withdrawals during off-peak hours if possible.

Conclusion:

In summary, the time it takes to withdraw funds from Crypto.com to your bank can vary based on the type of withdrawal and several influencing factors. While fiat withdrawals generally take 3-7 business days in total, cryptocurrency withdrawals are influenced by network speeds and congestion. By understanding these factors and following best practices, you can manage your expectations and potentially expedite the withdrawal process.