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Crypto Withdrawals - General Information
Crypto Withdrawals - General Information

Information about crypto withdrawal process

Support Specialist avatar
Written by Support Specialist
Updated over a week ago

A withdrawal from the Crypto.com App is a transaction of transferring crypto from the Crypto.com environment to an external address (usually a wallet or an exchange). As all blockchain transactions - and contrary to sending crypto to another Crypto.com App user - come with a fee.

You can find the relevant withdrawal fee in the Fees & Limits section of the Settings in your Crypto.com App.

Automated Withdrawals

All Users’ deposits are held in cold storage, for security reasons, however, withdrawal requests - for all cryptos - are automated.

In most cases, withdrawals are almost instant and normally should take no longer than 2-3 hours to be processed.

Note: Withdrawals will be sent from an address that differs from your crypto's deposit address.

Security

For address whitelisting, 2FA will be required if you’re using an Untrusted Device.

To make cryptocurrency withdrawals, you can use your passkey if it is set up. If you haven’t set up a passkey, you will be required to verify withdrawals with 2FA and an SMS OTP.

To safeguard your funds, you are recommended to enable the 24-hour withdrawal lock, please refer to the details here.

Address whitelisting

To increase the security of your funds, we are requiring withdrawal address whitelisting every time you want to send crypto to a new address.

*Please note there will be a 24-hour withdrawal lock on the newly added withdrawal address if the feature is enabled.

To whitelist a withdrawal address:

1. Go to Accounts and tap on Crypto Wallet

2. Tap the Transfer button > Withdraw > External Wallet

3. Click on the + Add Wallet Address button or the "+" in the upper right corner > Wallet Address to add a new withdrawal address

4. Select the cryptocurrency you wish to withdraw

5. On the Wallet Address Details page,

a. Select the network you wish to use

b. Type, paste or scan the withdrawal address (tap the blue QR code icon to scan the address)

c. Give your wallet a name and hit Continue

6 Complete the verification required:

a. If you’re using a Trusted Device, you will be required to enter your passcode

b. If you’re using an Untrusted Device, you will be required to verify with your passkey if it’s set up, or enter your passcode and the 6-digit verification code generated by your authenticator app

Making a Withdrawal

To make a withdrawal:

1. Go to Accounts and tap on Crypto Wallet

2. Tap the Transfer button > Withdraw > External Wallet

3. Select the whitelisted wallet address you wish to withdraw to

4. Choose the currency and enter the amount

5. Review and click Confirm on the confirmation page

6. Complete the verification required:

a. Verify with your passkey if it is set up

b. Verify using SMS OTP and the 2FA code generated by your authenticator app if you have not set up a passkey

7. Your withdrawal request is then submitted. Please wait for the withdrawal to be processed.

How To Locate the Transaction ID (TxHash/TxID)?

1. Tap on the transaction in the respective Crypto Wallet or in the Transaction History

2. Tap on the ‘Withdraw to’ address hyperlink

3. You can either copy the TxHash or view the transaction in a Blockchain Explorer

Withdrawal request confirmation

Once your withdrawal address is confirmed, you will receive a withdrawal request confirmation email - that means we have acknowledged receiving your request and will process it as soon as we can (usually instant, but should take no longer than 2-3 hours to be processed). You will receive a separate notification, once the request is processed.

Warning

If you receive an email for an action you did not request (address whitelisting or crypto withdrawal), please contact our Support immediately (for speed, use the in-app chat, if possible - you can find it in the Menu, section: Customer Support). Our Staff will help you to disable crypto transactions (if necessary), attempt to stop the withdrawal request, and change the passcode (we will need to verify your identity to do that).

As it is possible that your account has been compromised, you may want to change your Crypto.com login email at the same time (click on Profile, then tap the email address). You will need to have access to your current email address to complete this action.


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