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How To Sell and Cash Out Crypto Assets on Crypto.com Exchange

Crypto.com Exchange is a popular platform for trading various cryptocurrencies. Once you have acquired some crypto assets and they have appreciated in value, you may want to sell them and cash out into fiat currency. Here is a step-by-step guide on how to sell and withdraw your funds from Crypto.com Exchange:

Step 1: Transfer Your Assets to The Exchange

If you purchased your crypto assets on the Crypto.com App, you will first need to transfer them over to the Crypto.com Exchange in order to trade and sell them.

  • Log in to the Crypto.com App and go to your crypto wallet
  • Tap on the crypto you want to transfer and select Transfer
  • Choose Crypto.com Exchange as the recipient
  • Enter the amount you wish to transfer and complete the transfer

Note: Transfers between the App and Exchange are free and instant.

Step 2: Create a Sell Order

Once your assets reflect in your Exchange account, you can create a sell order to liquidate your positions into USDT (a stablecoin pegged to the US Dollar).

  • Go to the Markets tab and search for the trading pair, e.g. BTC/USDT
  • Enter the amount of crypto you wish to sell
  • Pick the type of order – Limit, Market or Stop Limit
  • Set the price at which you wish to sell
  • Complete the order to put up your crypto for sale

Use limit orders to have more control over the sale price. Market orders get filled instantly at the current market price.

Step 3: Withdraw Funds to Fiat Wallet

After your sell order gets filled, you will have USDT in your Exchange account. You can then withdraw this to your Crypto.com App Fiat Wallet.

  • Go to the Accounts tab and select Withdraw
  • Choose USDT as the crypto to withdraw
  • Enter your Crypto.com App registered email ID
  • Specify amount to withdraw and submit the request

There are no fees or charges for transferring crypto from Exchange to App

Step 4: Cash Out to Your Bank Account

The withdrawn USDT will reflect in your Crypto.com Fiat Wallet in a few minutes. You can then cash this out to your bank account.

  • In the Crypto.com App, go to Accounts > Fiat Wallet
  • Select your currency, enter amount and click Withdraw
  • Add your recipient bank details
  • Complete the withdrawal

You can cash out directly to your bank account via a wire transfer with no fees using Crypto.com

Tips for Selling Crypto Assets

Here are some tips to help you sell and cash out your crypto securely:

  • Set price alerts – Use stop-limit orders to sell if the price falls below a threshold
  • Dollar-cost average out – Gradually liquidate small portions instead of all at once
  • Check withdrawal fees – Some coins have high blockchain fees so check before withdrawing
  • Triple check addresses – When withdrawing crypto or fiat, cross verify the address
  • Store fiat in stablecoins – If not cashing out completely, leave funds in USDC/USDT to avoid volatility

Tax Implications

You may be liable to pay capital gains taxes when selling crypto assets at a profit.

  • In the US and several other countries, crypto is treated as property for tax purposes.
  • You owe taxes if you sell crypto for fiat, or exchange one crypto for another.
  • The tax is levied on the capital gains – difference between purchase and sale price.
  • Short-term gains under one year are taxed at income tax slab rates. Long term capital gains tax rates apply for holding period over a year.

So make sure you account for taxes when cashing out significant crypto profits.

Conclusion

Crypto.com Exchange offers a secure and cost-effective way to liquidate your crypto portfolio. The instant transfers between the Exchange and App make cashing out easy.

With the tips above, you can sell and withdraw your crypto funds seamlessly. Just be aware of the tax requirements in your country for crypto asset disposal.

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