Why is crypto so expensive to withdraw?
This is paid to the blockchain miners or validators who process the transaction. The network fee is variable and depends on the speed of the transaction and the amount of traffic on the blockchain network.
Withdrawal fees in Bitcoin cover transaction processing costs on the blockchain. These fees incentivize miners to validate and add transactions to the network. Higher fees prioritize your transaction in congested periods, ensuring quicker confirmation. For more clarification, feel free to reach out.
Select [Withdraw to Crypto.com App] to avoid fees and enter the amount you want to withdraw.
Some exchanges do not allow the conversion or selling of some cryptos to dollars, so you'll need to take an indirect route to get your cash.
Every cryptocurrency transaction includes a small fee to keep the underlying blockchain network running. Most trading platforms also add transaction fees or price spreads to collect some revenues from each crypto trade.
| Cryptocurrency | Withdrawal fee |
|---|---|
| CryptocurrencyBitcoin (OP Mainnet (kBTC)) | Withdrawal fee0.00001 BTC |
| CryptocurrencyBitcoin Cash | Withdrawal fee0.0003 BCH |
| CryptocurrencyBitDAO (Ethereum) | Withdrawal fee0.77788 BIT |
| CryptocurrencyBittensor | Withdrawal fee0.002 TAO |
Many crypto providers are not currently licensed
This means you may not be protected if the platform fails or is hacked. If a crypto-asset fails, you will most likely lose all the money you put in. In most countries, crypto is not legal tender. You're only protected to the extent that crypto fits within existing laws.
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.
| Deposit Fee | Withdrawal Fee | |
|---|---|---|
| ACH | Free | Free |
| Wire (USD) | $10 USD | $25 USD |
| SEPA (EUR) | €0.15 EUR | Free |
| Swift (GBP) | Free | £1 GBP |
- Select Buy & Sell.
- Select Sell.
- Select the crypto you want to sell and the amount.
- Update the To destination if needed.
- This defaults to your local currency balance (USD) but you may have the option of adding to another balance (e.g., USDC).
- Select Review order.
- Select Sell now to complete the sale.
Should I just cash out my crypto?
Crypto tax implications and crypto tax reporting
Cashing out crypto can trigger crypto tax liabilities. It's essential to comprehend the tax implications of your transaction, including crypto capital gains or losses, and ensure you're prepared to fulfill your tax reporting obligations.
The pseudonymous creator of Bitcoin, Satoshi Nakamoto, remains the largest holder of Bitcoin. With an estimated 1.1 million $BTC , Satoshi's fortune has never been moved from its original addresses since the early days of Bitcoin, sparking ongoing speculation about their identity and intentions.
Fact: Taxes are triggered when a taxable event occurs, such as selling or trading crypto. Withdrawal is not a taxable event. Myth 2: You only owe taxes when you sell crypto for fiat currency.
| Name | Price | Change |
|---|---|---|
| BTC Bitcoin | 8,823,125.82 | 168,521.70 |
| ETH Ethereum | 245,474.65 | 1,791.96 |
| XRP Ripple | 241.31 | 0.265441 |
| BNB BNB | 58,928.55 | 353.57 |
Transaction fees range based on the provider and amount of bitcoin, but costs range from 7% to 20% of the transaction amount.
The transaction fees of cryptocurrencies can vary depending on the specific currency and the network congestion at the time of the transaction. The main reason for high transaction fees is the fact that miners, who process and confirm transactions on the blockchain, are incentivized by fees.
Crypto exchanges charge high withdrawal fees mainly due to the network transaction costs that they incur when processing withdrawals. Every time you send Bitcoin or Ethereum, a transaction verification process by the crypto miners on the respective blockchain is required and they charge for this service.
Withdrawals- Fees & Limits
To avoid a fee, please use the Withdraw to App function. Withdrawal fees will be settled in the currency you are receiving and can not be paid with CRO.
| Exchange | Maker fee | Taker fee |
|---|---|---|
| Kraken | 0.25% | 0.40% |
| OKX | 0.080% | 0.100% |
| Bybit | 0.2000% | 0.1500% |
| Gate.io | 0.09% | 0.09% |
Bybit just suffered the biggest attack in crypto history, suffering $1.4 billion in losses.
Is it still worth investing in crypto?
Cryptocurrency prices have rallied heading into 2025, leaving some investors with notable gains. But crypto is a notoriously risky investment and prices are known to fluctuate quite a bit.
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- Avalanche (AVAX)
- Pepe (PEPE)
- Cardano (ADA)
If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.
Apart from standard miner fees, Crypto.com charges about $0,25 in the token you want to withdraw as withdrawal fees. In the case of a fiat bank transfer withdrawal, as of writing this guide, a $50 administration fee will be applied, but it may change in the future.
Staking is a way to earn rewards by putting your crypto to work on a blockchain network. In return for helping the network run smoothly and securely, you receive more of the cryptocurrency you're staking. The rewards come from the network itself—your crypto isn't being lent out.
