How to Withdraw Ethereum to Cash?
Withdrawing crypto to cash can be as easy as 1-2-3 for some and mind-boggling for others. If you’re looking for some answers, you’re certainly in the right place.
How to withdraw Ethereum to cash and why do I need to do that? Truth is, crypto still has a long way to go to be widely accepted as a payment method for products and services. While we’re in a transition phase, knowing how to withdraw Ethereum to cash will help you to make better use of your digital assets.
Can I Withdraw Ethereum to Cash?
Absolutely! Otherwise, you wouldn’t be reading this post. After you’re done with this one, have a look at another popular article published in our blog about how long it takes to transfer Ethereum.
So, what we really mean by saying withdrawing Ethereum to cash is converting Ether to fiat money. It’s up to every crypto investor to decide whether to keep their digital assets long-term or cash them out at any convenient time. If you need to cash out your ETH, read on to learn more about the most common withdrawal method.
How to Withdraw Ethereum to Cash Explained
In this paragraph, we’ll be looking at how to sell Ethereum for cash using a crypto exchange.
This is the most commonly used method to withdraw Ether to cash, and also the easiest. Why? Ethereum is a prominent coin and is traded across the majority of exchanges.
Our advice is to choose a reliable platform before starting out in the cryptoverse. You may need to do some research as there are plenty of exchanges available online. It’s not a mere scam warning, but more about hidden fees and high commission rates.
CoinMetro is all about regulation and is one the most reliable platforms out there. Jumping on board will take you on an amazing – and safe – journey around the world of crypto.
What our customers love about CoinMetro is a broad range of products and features as well as transparency and fairness. If you’re wondering how to withdraw Ethereum to bank account, CoinMetro is the answer. Log in or sign up to transfer ETH from your wallet to CoinMetro, sell it, and withdraw funds to your local bank account in a few clicks.
Right, how to convert Ethereum to cash? If you opted to convert your Ether to cash using a crypto exchange, you will also have the option of withdrawing the funds to your bank account.
- First, you need to transfer your ETH to the crypto exchange in case you used a different source to obtain your coins. This is a regular transaction, but the exact steps depend on the cold or hot wallet you’re using.
- Then, you’ll sell your ETH against a preferred currency, i.e., EUR or USD, on the exchange platform of choice. Ether can be traded just like any other crypto by placing an order.
- What’s left to do is withdrawing your money from the crypto exchange to your local bank account via bank wire transfer. The process may take several business days depending on your bank.
That’s it! You’re done.
How Long Does it Take?
Now that you have an idea of how to withdraw money from Ethereum wallet, let’s talk about transaction times.
Here, we need to differentiate between the transaction times required to transfer ETH from your wallet to the exchange and those to transfer actual money to your bank account.
The former depends on the Ethereum blockchain. The more congested the network is, the longer it may take. In other words, the more people are trying to make a transaction at the same time, the more transactions the miners need to confirm. You see, a certain number of transaction confirmations is required for an Ethereum transfer to happen. That is, to make a transaction secure.
The quickest transaction times in the entire industry is another reason to choose CoinMetro – 10 confirmations every 3 minutes for Ether and Ethereum-based tokens. How cool is that?
How to withdraw Ethereum to cash? The answer is – easy with the help of a reliable crypto exchange. You’re welcome to join CoinMetro. We’ve gone far beyond being a common exchange platform. Lower prices, but no hidden fees, instant fiat on and off-ramps, excellent round-the clock service, and so much more. If we can’t bring you crypto-peace of mind, no-one else will!