The basic path: sell your crypto, wait for the money, then transfer it

To move money from cryptocurrency to your bank account, you sell the crypto on an exchange (the platform where you bought it), wait for the sale to settle, then transfer the cash to your bank using a wire transfer or ACH transfer. The whole process usually takes three to five business days, though the waiting period depends on which exchange you use and which bank you use.

The exchange holds your money briefly after you sell — this is called the settlement period. During this time, the exchange is confirming the sale with the buyer and making sure the transaction is real. Once settlement is complete, you can move the money out. Most exchanges let you transfer to a linked bank account for free, though some charge a small fee.

You will need your bank's routing number and your account number to complete the transfer. Your bank can give you both, or you can find them on a check or in your online banking portal.

Key Takeaways

  • You must sell your crypto on the exchange where you hold it before any money can move to your bank account.
  • After you sell, the exchange holds the money for a settlement period — usually one to three business days — before you can transfer it out.
  • Most exchanges offer free transfers to a linked U.S. bank account via ACH or wire transfer.
  • You will need your bank's routing number and your account number to set up the transfer.
  • The entire process from sale to money in your bank account typically takes three to five business days.

Which exchanges let you transfer to a bank account

The major exchanges that allow transfers to U.S. bank accounts are Coinbase, Kraken, Gemini, and Crypto.com. Each one has slightly different rules about which banks they work with and how long transfers take, so check your exchange's support page before you sell.

Some smaller or international exchanges do not offer direct bank transfers to the United States. If your exchange does not have this option, you will need to transfer your crypto to an exchange that does, then sell there. This adds an extra step and takes longer.

Before you sell, make sure your bank account is already linked to your exchange account. Linking usually takes one to two business days, so do this ahead of time if you can.

How to link your bank account to your exchange

Go to the settings or account section of your exchange and look for "Link Bank Account" or "Add Payment Method." You will enter your bank's routing number, your account number, and your account type (checking or savings). The exchange will then send two small test deposits to your bank — usually under one dollar each — within one to two business days.

Once those deposits arrive, you go back to the exchange and confirm the amounts. This confirms that you own the bank account and that the exchange has the correct information. Only after you confirm the test deposits can you transfer money out.

Some exchanges skip the test deposit step and instead ask you to verify your identity through your bank's app or website. Either way, the linking process takes a few days, so do it before you need to move money.

What happens when you sell and how long it takes

When you click "sell" on your exchange, the order goes into a queue with other orders. The exchange matches buyers and sellers, and once your order is matched, the sale is complete. At this point you own the cash, but the exchange is still processing the transaction on its end — this is the settlement period.

Settlement usually takes one to three business days depending on the exchange. During this time, you cannot move the money. Some exchanges show a countdown timer so you know when the money will be available. Once settlement is done, the cash appears in your exchange account as available to withdraw.

If you sell on a Friday afternoon, settlement may not complete until the following Tuesday or Wednesday because banks do not process transfers on weekends or holidays.

Transferring the money to your bank

Once your money is settled and available, go to the "Withdraw" or "Send Money" section of your exchange. Select your linked bank account as the destination. Enter the amount you want to transfer — you can move all of it or just part of it. Review the details and confirm.

The exchange will send the money to your bank via ACH transfer (the standard electronic transfer method in the United States) or wire transfer. ACH is free and takes one to three business days. Wire transfer is faster — usually same day or next day — but some exchanges charge a fee, often between $10 and $25.

Once you confirm the transfer, you cannot cancel it. The money will arrive in your bank account on the date the exchange tells you, or possibly one day earlier.

Taxes and what you need to keep track of

When you sell crypto, you owe taxes on any profit you made. If you bought Bitcoin for $500 and sold it for $800, you owe taxes on the $300 gain. This is true even though the money is now in your bank account and even if you do not withdraw it.

Your exchange will send you a tax form (usually Form 1099-K or 1099-MISC) at the end of the year showing all your sales. Keep your own records of when you bought, how much you paid, when you sold, and how much you received. This makes it easier to calculate your actual profit or loss and to match the exchange's report.

If you are unsure how to report crypto sales on your taxes, talk to a tax professional or accountant. Tax rules for crypto are still evolving, and the rules vary depending on whether you held the crypto for more than a year.

What to do if your transfer gets stuck or delayed

If your money does not arrive by the date the exchange promised, first check your exchange account to confirm the transfer actually went through. Look for a transaction ID or confirmation number. Then log into your bank account and search for any pending deposits from your exchange.

If you see a pending deposit in your bank, it will arrive within one to two business days. Do not contact your exchange yet — this is normal.

If the money is not pending in your bank after three business days, contact your exchange's support team with your transaction ID. Provide the date you initiated the transfer, the amount, and your bank account number. They can investigate whether the transfer was rejected by your bank or is stuck in their system. This is rare, but it does happen, especially if your bank flagged the transaction as unusual.

Frequently Asked Questions

Do I have to pay a fee to move money from crypto to my bank?

Most exchanges offer free ACH transfers to your bank account. Wire transfers are faster but often cost $10 to $25. Some exchanges charge a small percentage of the amount you are transferring instead of a flat fee — check your exchange's fee schedule before you transfer.

Can I transfer crypto directly to my bank, or do I have to sell it first?

You must sell the crypto first. Banks do not accept cryptocurrency directly. You sell on the exchange, receive cash, then transfer the cash to your bank.

What if my bank rejects the transfer from my exchange?

Banks sometimes reject transfers if they think the transaction is suspicious or if there is a mismatch in account information. Contact your bank and ask why the transfer was rejected. Usually you can resubmit it once the issue is fixed. Common reasons include a typo in your account number or the bank flagging a large transfer as unusual.

How much money can I transfer at once?

This depends on your exchange and your bank. Most exchanges allow transfers of any amount, but your bank may have daily or monthly limits on incoming transfers. Check with your bank about their limits before you transfer a large amount.

Will my bank ask where the money came from?

Your bank may ask about large deposits as part of standard anti-money-laundering rules. Be honest and say it came from selling cryptocurrency. You do not need to provide details, but having a clear answer ready is helpful.