How to Make Withdrawals and Deposits in the Crypto.com App

Your guide to cryptocurrency and fiat deposits and withdrawals in the Crypto.com App.

Key Takeaways:

• The Crypto.com App allows users to easily deposit and withdraw both fiat and cryptocurrency assets, offering a variety of methods tailored to different currencies and jurisdictions.

• Fiat deposits can be made via bank transfer or directly through the App using payment methods like credit cards, Apple Pay, or Google Pay, with options available for multiple currencies including USD, EUR, and GBP.

• Crypto deposits involve transferring tokens from external wallets to the Crypto.com App, with a step-by-step process for securely sending and receiving assets.

• Withdrawals in the App can be conducted in either fiat or cryptocurrency, with detailed instructions depending on the type of currency and destination, whether to a bank account or an external crypto wallet.

How to Make Deposits and Withdrawals in the Crypto.com App

Users can easily deposit and withdraw both cryptocurrency and fiat assets in the Crypto.com App. Below is a walkthrough of the different options available and how they work.

Deposits in the Crypto.com App

Fiat Deposits in the App

Users have several options to deposit fiat currency like US dollars, British pounds, or euros in the App. These include sending funds via bank transfer or buying cryptocurrency directly with a card, Google Pay, or Apple Pay.

Fiat wallets are available in the Crypto.com App for users to deposit and withdraw funds from and to their bank account(s). The following currencies are currently available:

• AUD
• CAD
• EUR
• GBP
• USD
• BRL
• TRY
• SGD

Example: Euro Wallet

The setup and step-by-step processes vary slightly depending on the user’s currency and jurisdiction. While we use a European SEPA bank account set up as an example below, Crypto.com allows users to add and switch between providers.

Here’s how to set up a Euro Fiat Wallet and deposit into it:

Go to ‘Fiat Wallet’ from the Menu button OR from the home screen, then tap Accounts > Fiat Wallet, OR from the home screen, tap Deposit > Fiat.

1. Tap on the ‘+ Set Up New Currency’ button.
   
2. Set up EUR (SEPA).
   
3. Complete the EUR Wallet setup as per the SEPA Network instructions. Users need to submit the following additional information in order to create their EUR Fiat Wallet:
   • Expected annual transaction volume
   • Annual income bracket
   • Employment status/occupation
   • Address verification
     
4. Users can utilise the bank account info provided to transfer directly through their bank via the SEPA Network.
   
5. Crypto.com will notify users once their bank transfer has been successfully deposited.

Once the Euro Fiat Wallet is set up, users can then deposit Euro:

Once the setup of the EUR Fiat Wallet is successful, users can navigate to the deposit information screen, which displays all the details necessary to transfer EUR from a user’s bank account to their Crypto.com account. 

To get there from the App home screen, tap Deposit > Fiat > Euro. Or, tap Accounts > Fiat Wallet > Transfer > Deposit > Euro.

Please keep in mind that only SEPA transfers from bank accounts bearing the user’s name will be accepted. The information needed to initiate a EUR bank transfer is:

• Beneficiary name — The legal name used to register in the Crypto.com App (this must be the user’s full name, as registered in their personal bank account).
  
• IBAN — This is the user’s IBAN.
  
• BIC/SWIFT code — Some banks require this code to transfer money.
  
• Institution name, address, and country — Not all banks require this info, but if they do, please use the details provided here.

Here’s a list of the detailed steps for each of the fiat currencies accepted by Crypto.com.

Buy Crypto Instantly With a Card

Alternatively, users can use their card or mobile pay options. To buy crypto with a credit or debit card, follow these steps:

Tap ‘Buy’ and select the currency of choice (e.g., CRO) to purchase.

1. Add the credit/debit card information on the screen that follows, which will create a secure link to Crypto.com’s payment gateway.
   
2. Please follow the on-screen instructions, entering card details (card number, name on the card, expiry date, and the CVV code located on the back of the card).
   
3. To verify the card, a small amount of €0.10 (or local equivalent) will be temporarily held for up to seven (7) days and won’t be charged — please confirm this transaction in order to complete the process.
   
4. Once complete, return to the CRO or crypto Wallet under the Accounts page, tap the BUY button, enter the desired amount, and select the credit/debit card as the source of funds.
   
5. Confirm the transaction with a passcode or fingerprint, and the transaction will be processed.

Check our FAQs on how to buy crypto with a card here.

Buy Crypto Instantly With Apple or Google Pay

To buy crypto with Google or Apple Pay, simply select them as a payment method after selecting the cryptocurrency of choice and tapping the Buy button. Then acknowledge the ‘card fee’ and tap continue. 

Crypto Deposits in the App

Depositing crypto means users will be sending tokens from another wallet to their Crypto.com App, which doubles as a wallet. Follow these simple steps in the Crypto.com App:

1. Tap Deposit > Crypto.

2. Select the cryptocurrency to deposit.

3.  A pop-up will appear with the deposit address and its QR code. Then, switch back to the wallet in which to deposit from.

4. Copy and paste the address to the crypto wallet (or scan the QR code) as the receiving address. Note that users can also send it to themselves or friends by tapping the ‘Share’ button.

5. Select the amount of crypto to deposit and submit/broadcast the transaction. Remember, to transfer ERC-20 tokens, users must have some ETH in their wallet to pay the transaction fees.

For those making their first deposit to their Crypto.com account, we recommend trying to send a small amount of crypto first to become familiar with the process.

Crypto and Fiat Withdrawals From the Crypto.com App

There are several ways users can withdraw their assets from the App, both in crypto and fiat currencies. Below we walk through the necessary steps.

Fiat Withdrawals From the App

As with deposits, withdrawal procedures vary by currency and jurisdiction. Due to compliance regulations, users are required to have at least one successful EUR deposit to Crypto.com via the SEPA Network before Crypto.com is permitted to transfer EUR funds back to the same bank account. Similar regulations apply to many other jurisdictions.

Below is how to withdraw fiat from a Euro Fiat Wallet in the Crypto.com App:

1. Go to Fiat Wallet from the Menu button or the Accounts Menu.
   Tap Transfer > Withdraw > Fiat.
   
2. Tap on the EUR balance and ‘Withdraw EUR’.
   
3. Browse through the submission process and withdrawal limits, then tap ‘Withdraw Now’.
   
4. Insert the withdrawal amount and select the bank account to withdraw funds to.
   
5. Review and confirm the withdrawal request.
   
6. Wait for Crypto.com’s internal review; users are notified once the withdrawal is processed.

Check the FAQs for more details on fiat withdrawals, including limits and fees.

Crypto Withdrawals in the App

If instead fiat users want to withdraw crypto from their Crypto.com App to another crypto-compatible wallet, follow these steps:

On the Accounts tab, tap Crypto Wallet > Transfer > Withdraw.

1. Select the cryptocurrency to withdraw (e.g., CRO).
   
2. Select either External Wallet, Crypto.com DeFi Wallet, or Crypto.com Users as a destination.
   
3. If External Wallet is selected, tap on ‘+ > Wallet Address’ to whitelist a new native CRO address.
   
4. Fill out the native CRO address, Wallet Name, and memo field if withdrawing to another exchange.
   
5. Tap on ‘No memo required for my Wallet’ if withdrawing to a decentralised wallet.
   
6. Proceed with the withdrawal after whitelisting the native CRO address.

Withdrawals vary depending on which currency is being sent. Also see the withdrawals FAQs for more information on BTC, ETH, and other currencies.

Due Diligence and Do Your Own Research

All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, cybersecurity, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets. Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of Crypto.com products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation. 

Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.