Easy
How do I withdraw my cryptocurrencies to my bank account in fiat currency?
Have you made some crypto profits and are wondering how to withdraw your money to your bank account? The process is simpler than it seems, provided you follow the right steps. In this guide, you'll learn exactly how to withdraw your crypto equivalent in fiat currency to your bank account , step by step, clearly and in detail. For this tutorial, we've chosen Binance since it's currently the most widely used exchange. However, the steps are similar on other centralized exchanges. From preparing your account to the final withdrawal confirmation, everything is explained to avoid common mistakes and minimize delays. Whenever you want to convert your cryptocurrencies to euros or another fiat currency, you can use this method to quickly transfer your funds to your bank.
Table of contents
How to withdraw your crypto to fiat currency and transfer it to your bank account : Check your eligibility before you begin
Before understanding how to withdraw your crypto to fiat currency and transfer it to your bank account , it's important to verify that you meet the necessary criteria. Most exchanges apply strict rules to secure financial transactions:
- Account verified ( KYC ) : You must have completed the "Know Your Customer" procedure by submitting your identity documents. This allows you to lift your withdrawal limits and confirms that you are the legitimate account owner.
- Valid bank account : Your bank account must be active , with an IBAN or an exact account number. The exchange may require that you have previously made a deposit or withdrawal from this same account to verify ownership.
- Regional restrictions cash withdrawals . Always check the regulations in your country.
Once these conditions are met, you are ready to withdraw your crypto in fiat currency to your bank account.
Step 1 – Access the withdrawal section
Log in to your account. From your dashboard, click on the menu located at the top of the screen (on Binance).
Next, click on the "Wallet" icon to display different options:
- The "Spot Wallet " contains the majority of your cryptocurrencies intended for immediate trading
- The "Fiat and Spot" displays both your cryptocurrencies and your traditional currencies (EUR, USD, GBP, etc.).
Then select "Withdraw" to go directly to the withdrawal area.
Step 2 – Select the currency and withdrawal method
On the withdrawal page, you have two options:
- Crypto withdrawal : to transfer your cryptos to an external wallet.
- Fiat withdrawal : to convert your cryptocurrencies into traditional money and transfer it to your bank account.
To convert your cryptos into euros or another fiat currency, select the "Fiat Withdrawal" tab.
Next, select your preferred currency, for example, "EUR". Binance will offer you several options:
- Recommended: SEPA Instant Bank Transfer
Fixed fee of €1, fast and secure method. - Other options:
- Instant bank payment (fees from €0.50).
- Standard SEPA bank transfer (currently suspended).
💡 Note: If the "Classic SEPA" option indicates "Channel suspended", choose an alternative such as SEPA Instant.
After choosing your method, click "Continue" to proceed.
Depending on the amount to be withdrawn, the SEPA Instant method will be convenient for small amounts, while for large sums, other methods may be considered.
Step 3 – Configure your payment method
Once you have chosen your currency, configure your payment method:
- SEPA transfer : Enter or confirm your IBAN, the name of your bank and, if necessary, the SWIFT/BIC.
- Visa card : Register your card if you haven't already done so.
Important: Binance may ask you to make a preliminary deposit using the bank account or card to verify that you are the account holder. A small initial deposit (around €1) is often recommended to validate your bank connection.
Step 4 – Specify the amount to withdraw
Enter the exact amount you wish to transfer. Make sure you respect the minimum amount required by your exchange or bank (usually around €2 for SEPA transfers). Carefully check the summary:
- Total amount requested.
- Fees apply.
- Net amount that will be credited to your bank account.
If you notice an anomaly in the charges, refresh the page or contact support.
Step 5 – Confirm the transaction with security measures
To secure your withdrawals, most exchanges implement several measures:
- Two-factor authentication (2FA) : Use Google Authenticator or receive codes via SMS.
- Email confirmation : An email is sent to you to confirm your identity before the withdrawal is authorized.
These measures effectively prevent fraud . To ensure a smooth withdrawal, make sure you always have access to your smartphone or code generator.
Step 6 – Wait for the transfer to be processed
Once the transaction is confirmed, the exchange usually processes your request quickly:
- Credit card : A few minutes.
- SEPA transfer : From a few hours up to 24 hours, with a maximum delay of 72 working hours in some cases.
Next, check your bank statement and withdrawal history. If there are any delays or anomalies, contact your bank or the exchange's support team for more information.
In some situations, the bank may temporarily block your transfer to carry out additional checks. If your transaction is suspended, contact your bank advisor to confirm the legitimate source of the funds and unblock the transaction.
How to withdraw your crypto in fiat currency to your bank account : advanced techniques and practical tips
After mastering the basics of how to withdraw your cryptos in fiat currency to your bank account , it is worthwhile to further optimize your withdrawals by following these practical tips.
Choosing the right time to convert your cryptocurrencies into fiat currency
Before withdrawing your funds to a bank account, you must convert your cryptocurrencies into euros. Two main options exist:
1️⃣ Quick option: Use the "Convert" function
- Simple and instantaneous.
- Slight additional cost due to the spread (difference between the purchase and selling price).
2️⃣ Optimized option: Go through the Spot market
- You place a limit order or a market order on the crypto/EUR pair (e.g., BTC /EUR).
- Lower costs if you choose the right time.
💡 Tip: Monitor price fluctuations and avoid selling during periods of high volatility to maximize your gains.
Check the permitted withdrawal limits
Exchanges apply withdrawal limits based on your account verification level. In the case of Binance :
- Basic verification ( KYC level 1) : relatively low withdrawal limit.
- Advanced verification ( KYC level 2) : limit increased up to several thousand euros per day.
- Premium verified account : even higher limits, depending on your country and the documents provided.
🚨 Before making any large withdrawal, check your limits to avoid being blocked.
Secure your banking information when withdrawing cryptocurrencies
Protecting sensitive data: When entering your bank details, take all necessary precautions:
✅ Check your IBAN and the beneficiary's name : an error can lead to a rejection or delay of the transfer.
✅ Store your bank details securely : avoid saving them on unsecured platforms.
✅ Do not use public Wi-Fi for your transactions: use a secure connection whenever possible.
✅ Enable two-factor authentication (2FA) : use Google Authenticator or a confirmation SMS.
How to withdraw your crypto to fiat currency and transfer it to your bank account : fees and processing times depending on the chosen method
The cost and processing time vary depending on the method chosen to transfer your funds to a bank account.
Comparison of fees according to withdrawal method
| Method | Costs | Estimated time |
|---|---|---|
| SEPA Instant | 1 € | A few seconds to a few minutes |
| Instant bank payment | From €0.50 | Instantaneous depending on your bank |
| Classic SEPA | €1 (suspended) | 1 to 2 business days |
FAQ: How do I withdraw my cryptocurrencies to my bank account in fiat currency ?
Why haven't I received my money yet?
1️⃣ Check your withdrawal status : view your history (status "completed" or "in progress").
2️⃣ Check your bank statement : some transfers can take up to 3 to 5 business days .
3️⃣ Contact support if the withdrawal is marked as "completed" but you haven't received it after 7 days .
4️⃣ Call your bank : a temporary hold may be applied if the transfer is deemed unusual.
What is the minimum amount for a withdrawal in euros?
- SEPA transfer : minimum of €10 .
- Withdrawal by bank card : may vary depending on your country and the exchange policy.
Can currencies other than the euro be withdrawn?
It depends on your exchange. Some allow withdrawals in USD, GBP, and other currencies .
- USD transfers : use SWIFT (beware of high fees).
- Withdrawals in GBP : different methods are offered depending on the bank.
How to convert your cryptocurrencies before withdrawing them to fiat currency?
Two solutions:
- Selling on the Spot market : place a limit order to optimize the price.
- "Convert" function : quick exchange but slight additional cost.
Checklist before finalizing your crypto withdrawal to a bank account
✔️ Verify the exact amount (no errors in the zeros).
✔️ Confirm your IBAN and the beneficiary's name.
✔️ Select the correct network (SEPA for the EU, SWIFT for currencies other than EUR).
✔️ Secure your transaction with two-factor authentication (2FA).
✔️ Keep proof of payment (screenshots, bank statements, transaction history).
Summary of the key steps to withdraw cryptocurrencies to a bank account
📌 Verify your account : KYC validated, correct IBAN, withdrawal limits respected.
📌 Choose the right method : SEPA Instant for speed, standard bank transfer if available.
📌 Optimize your conversions : avoid periods of volatility, favor limit orders.
📌 Ensure the security of your transactions : 2FA enabled, secure connection, IBAN verified.
📌 Anticipate processing times : up to 72 hours for standard transfers, often instant for SEPA Instant.
📌 Keep a record of transactions : screenshots, email confirmations, and bank statements.
Conclusion: Withdrawing crypto to your bank account without any problems
Following these steps will allow you to recover your funds quickly and securely. By applying best practices, you will reduce unnecessary fees and avoid bank freezes. With a well-optimized process, your cryptocurrency profits will be easily converted into euros directly into your bank account.
Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .
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AMF recommendations. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital .
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Yoann
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
