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How to Transfer Crypto to Your Bank Account in 2024

Renata Pacheco

Written by

Renata Pacheco

June 21, 2023

Reviewed by

Ciaran Lawler

To transfer crypto to your bank account, you have several options available:

[key_takeaways title="Quick Answer:"]

  • Option 1: Crypto Exchange via SEPA/SWIFT
  • Option 2: P2P Marketplace
  • Option 3: Crypto Debit Cards
  • Option 4: Bitcoin ATMs


Cryptocurrency, a crypto term barely known a decade ago, has now evolved into a formidable force in the financial world. Owing to its decentralised nature and potential for significant returns, the rise of cryptocurrency has been meteoric.

While handling crypto was a concept for the tech-savvy in the early days, it’s now become a norm for everyday people to own, sell crypto and understand how to transfer crypto to a bank account.

A bank account is, traditionally, the epicentre of all financial transactions, from receiving your salary to paying bills. Therefore, the need for individuals to be able to transfer their crypto assets directly into their bank accounts is more crucial than ever.

By being able to do so, individuals are free to use their funds more flexibly, paying for everyday expenses or investing in different opportunities.

However, traditional banks and crypto wallets operate differently, each with benefits and constraints. While secure and regulated, these banks often involve tedious processes and can be slow with transactions.

On the other hand, cryptocurrency wallets allow instant transactions and offer greater privacy but could pose security risks if not managed properly.

While you may be used to banking with traditional banks, handling a cryptocurrency wallet could feel like a different ball game. However, it’s not as complex as it seems.

Looking for a way to get crypto transferred to your account? Discover swissmoney

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  • Instant crypto spending with debit card
  • Dedicated IBAN accounts for easy fiat management
  • Multiple cards with flexible spending limits.
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  • Multiple wallets for top cryptos (BTC, ETH, USDC, USDT, TRX)

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Preparing your crypto assets for transfer

Whether you’re investing in Bitcoin, Ethereum, or any other digital asset, having a strategy for handling these cryptos is imperative. This includes deciding on a preferred bank account to which you will transfer crypto funds. There are numerous reasons why having a preferred bank account is beneficial.

Primarily, it provides you with a consolidated place for your funds, making it easier to manage your finances. Additionally, using the same bank account consistently reduces the chance of transaction errors or delays.

Once you’ve designated your bank account, the next step is to transfer your crypto into fiat money. For those new to crypto, ‘fiat money‘ refers to traditional government-issued currencies such as GBP, USD, EUR, etc.

Understanding that cryptocurrencies hold value but aren’t universally accepted for everyday transactions is crucial. Converting your crypto to fiat increases its usability, ensuring you can use it wherever you use traditional currencies.

To do this, you’ll need a crypto account where your digital assets are stored and a fiat wallet where your converted fiat currency will reside temporarily before it’s transferred to your bank account. Crypto platforms typically provide crypto accounts and fiat wallets.

It’s essential to ensure that the platform you choose supports the cryptocurrencies you hold and offers a seamless conversion to your chosen fiat currency. With these elements in place, you’ll be well-prepared to transfer your crypto to your bank account while retaining the flexibility and benefits of owning digital assets.

A person by the computer. Pictures.

What are the different ways to transfer crypto to a bank account?

To transfer cryptocurrency to a bank account, you have several options available:

#Option 1: Crypto Exchange via SEPA/SWIFT

One common method is to use a crypto exchange that supports SEPA or SWIFT transfers. This involves selling your Bitcoin or other cryptos for fiat currency like euros or dollars on the exchange and then transferring the funds to your bank account.

📚Related: Top Fiat to Crypto Exchanges

#Option 2: P2P Marketplace

Another option is to sell your crypto on a Peer-to-Peer (P2P) Marketplace. This method involves direct transactions between buyers and sellers, where the buyer transfers fiat currency to the seller’s bank account in exchange for cryptocurrency.

#Option 3: Crypto Debit Cards

You can also consider using Bitcoin debit cards offered by certain platforms like swissmoney, Coinbase or Binance. These cards allow you to sell your crypto and receive earnings on a prepaid debit card, which can be used for shopping, ATM withdrawals, or transferring money to your bank account.

📚Related: Best Crypto Debit Cards

#Option 4: Bitcoin ATMs

Bitcoin ATMs provide a convenient way to deposit and withdraw money without visiting a bank. You can use these ATMs to buy or sell bitcoins with fiat money, making it another option for transferring crypto funds to your bank account.

📚Related: Crypto Wallets That Allow Transfer to Bank Account

How to transfer Cryptos to a Bank account? Step-by-step

Transferring your crypto to a traditional bank account needn’t be daunting. With clear instructions, you can manage your crypto transactions without breaking a sweat.

Here’s a generic step-by-step guide to making your crypto-to-bank transfer seamless:

#1 STEP: Access your account on your chosen crypto exchange platform.

If you are new, set up an account and undergo the necessary identity verification process – a standard procedure across all regulated platforms.

#2 STEP: Link your bank or any other financial service provider account to the exchange platform.

This connection ensures a straightforward pathway for the funds during the transfer process.

#3 STEP: Transfer money from your bank to the crypto platform.

Doing so allows you to purchase your preferred cryptocurrency if you haven’t acquired it yet.

#4 STEP: Engage in buying or selling crypto as required.

Most platforms support various cryptocurrencies, giving you the flexibility to trade based on market fluctuations.

#5 STEP: Once prepared, transfer your exchange account to your bank account.

Remember, this process typically involves converting your crypto back into fiat currency and then transferring this fiat currency into your bank account. It’s different from directly transferring crypto to a wallet address.

If you’re looking for a platform to facilitate this process, consider swissmoney. With swissmoney, users can seamlessly buy, sell and trade cryptocurrencies. They can also quickly exchange crypto into spendable fiat on their account. Manage fiat via IBAN accounts with SEPA and SWIFT. And get virtual payment cards without fixed spending limits.

How to transfer crypto to your swissmoney IBAN account

swissmoney allows you to exchange and withdraw both crypto and fiat currencies right in the app.

To send crypto to your swissmoney account from another wallet, share your swissmoney crypto wallet address.

For withdrawing crypto to an IBAN account, follow these steps:

  • Open swissmoney and go to ‘Digital assets’.

Digital assets. swissmoney app

  • Choose your crypto wallet.

crypto wallet. swissmoney app

  • Tap ‘Sell’ and pick ‘Limit’ or ‘Market’.

sell crypto. swissmoney app

  • Enter the amount, either in your local currency or crypto. If opting for a ‘Limit’ sell, set the minimum price.‘Limit’ or ‘Market’ swissmoney app
  • The converted crypto will go to your fiat currency wallet.

Determine the specific amount of crypto you wish to sell. swissmoney app

After selling crypto, do this:

  • Go to ‘IBAN Accounts’ and select your IBAN account.

IBAN Accounts. swissmoney app

  • Tap ‘Top-Up’ to add funds (only Euros for now).

Top-Up IBAN account. swissmoney app

  • Review the fee, select ‘Internal’, and complete the transaction.

Transactions are quick, usually with funds in your IBAN account in moments.

Crypto withdrawal process to bank accounts

The procedure to withdraw crypto to traditional bank accounts is not as daunting as it may seem. Here’s how you can accomplish it.

Step 1: First, to initiate a crypto withdrawal, ensure your funds are in your exchange account. Most platforms require you to convert your crypto into a fiat currency before initiating the withdrawal process. Depending on the type of cryptocurrency and the amount, this can usually be done within a few minutes.

Step 2: After this, you’ll have to place a withdrawal request. This usually involves providing details such as your preferred bank account, the amount you’d like to withdraw, and, in some cases, additional identification for security purposes.

The time it takes for the funds to appear in your bank account can vary significantly based on several factors, such as the exchange you’re using and your bank’s processing times. Banks typically process these transactions only on business days, so if you’re withdrawing money over the weekend or on a public holiday, you might have to wait a little longer.

📚Read More: How to Withdraw Crypto to Bank Account

📚Related: Best Crypto-Friendly Banks in Europe

Alternatives to bank transfers

Beyond the conventional bank transfer, other ways exist to access your cryptocurrency funds. Here’s a brief overview of two popular alternatives: Bitcoin ATMs and debit cards designed for crypto transactions.

Bitcoin ATMs have sprung up in various cities worldwide, bridging finance’s digital and physical realms. Like traditional ATMs, Bitcoin ATMs allow users to buy or sell Bitcoin and withdraw cash. The transactions are often simple and fast, without navigating a crypto exchange. However, it’s essential to remember that these ATMs may charge higher transaction fees than centralised exchanges.

On the other hand, many financial platforms offer debit cards designed specifically for crypto transactions. Platforms like swissmoney, for instance, let you load crypto onto your debit card, which you can then use to make purchases directly or withdraw cash from an ATM. This method essentially turns your digital wallet into a physical one, offering additional convenience for daily use.

Bitcoin ATMs and crypto-specific debit cards represent the fusion of traditional and digital finance, further emphasising cryptocurrencies’ rapidly growing acceptance and integration in everyday transactions.


Cryptocurrencies have changed the way we think about money. While it may sound complex, transferring crypto to bank accounts is increasingly straightforward, especially with platforms like swissmoney simplifying the procedure.

As the bridge between the world of crypto and traditional banking continues to strengthen, the opportunities for utilising and accessing your digital assets are expanding. Whether through a direct bank transfer, a Bitcoin ATM, or a crypto-specific debit card, you now have various options for accessing your crypto wealth.


Can I transfer money from crypto to my bank account?

Yes, you can transfer money from crypto to your bank account.

What are the most popular cryptocurrencies to transfer to a bank account

Different platforms offer ways to facilitate this process:

  • swissmoney
  • Coinbase
  • Binance

How long does it take to transfer Bitcoin to a bank account?

Transferring Bitcoin to a bank account can take from moments to several days depending on various factors such as network congestion, transaction fees, and network activity. Users should stay informed about these factors and follow best practices for a secure and efficient transfer process.

📚Learn more: How Long Does It Take to Send and Receive Bitcoin?

What are the fees associated with transferring crypto to a bank account?

To transfer cryptocurrency to a bank account, the fees can vary depending on the platform you choose. These fees may include network fees, exchange fees, and withdrawal fees.

What are the tax implications of transferring crypto to a bank account?

In most cases, simply transferring crypto to your bank account itself isn’t considered a taxable event. It’s similar to moving money between your own bank accounts.

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