Cryptocurrency · Question 5 of 6
How do I sell or cash out cryptocurrency?
To cash out, you typically sell on an exchange for your local currency, then withdraw that to your bank. If your crypto is in your own wallet, you first send it to the exchange.
The general flow
- If self-custodied, send the crypto to your exchange deposit address (verify it carefully).
- Sell it for your local currency on the platform.
- Withdraw the proceeds to your linked bank account.
Records and timing
Keep records of what you sold and when. Withdrawals and settlement can take time, and platforms may have limits or holds.
Why it matters
Cashing out involves moving funds between systems — the moments most prone to address mistakes and unexpected delays or fees.
A practical way to picture it
It's the buying process in reverse: turn the asset back into local currency, then move that to your bank.
Risks & common mistakes
- Tax treatment of selling varies by jurisdiction and is outside this educational reference — consult a qualified professional.
- Sending to a wrong deposit address can mean permanent loss.
- Withdrawal limits and processing times vary by platform.
Put it into practice
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Last reviewed 2026-06-25. This topic can change over time; always confirm current specifics from primary sources.