How to Cash Out Crypto?

In today’s digital era, including in Georgia, cryptos like Bitcoin and Ethereum are becoming essential to everyday finance. As crypto adoption grows, many still find it complex—but owning and managing digital assets is easier than you think.

With Cryptal, buying, selling, and withdrawing crypto is simple. In this guide, we’ll walk you through how to cash out your crypto and withdraw funds from your Cryptal account in just two easy steps—hassle-free!

Crypto Withdraw – Detailed

If your crypto assets have significantly increased in value and you're ready to cash out, or if you're planning to invest in crypto and want to understand the withdrawal process in advance, you’ll need to follow two simple steps to convert your digital assets into cash and transfer the funds to your bank account using your preferred method.

Step 1: Exchange your crypto for fiat.
Step 2: Withdraw the funds directly to your bank account.

Still unsure about the process? No worries! We’ll guide you through each step in detail to ensure a smooth and hassle-free experience.

Sell Crypto – GEL, USD, EUR

To cash out your crypto, you first need to convert your digital assets into your preferred currency.

Cryptal supports three major fiat currencies: Georgian Lari (GEL), U.S. Dollar (USD) and Euro (EUR).

When you enter traditional currency into Cryptal, it is automatically converted into a stable crypto asset of equal value. For example, topping up 10 GEL into your account converts it into 10 TOGEL. When you withdraw 10 TOGEL, it is seamlessly exchanged back into 10 GEL and credited to your bank account.

To cash out, choose the currency you want to receive and select your preferred selling method. Cryptal offers two simple ways to sell digital assets:

• Convert - Seamlessly convert your crypto assets into fiat currency in just a few clicks. Whether you prefer Georgian Lari (GEL), U.S. Dollar (USD), or Euro (EUR), Cryptal makes the exchange process fast, secure, and hassle-free.
  
  
  
  
  
  1. Enter Convert
  2. Choose Sell
  3. Indicate the amount of Crypto
  4. Click on Sell
  
  
  
• Spot Trade - A more advanced way to sell crypto, allowing you to exchange a specific asset for your preferred currency at the best available price. This method provides greater flexibility and control over your transactions.
  
  
  Please note that there are two functions on the Exchange:
  
  a. Market Order - executed instantly at the best available price on the crypto exchange. If you need to sell your assets quickly, this is the fastest and most efficient option.
  
  b. Limit Order - A Limit Order lets you set a minimum price at which you’re willing to sell your asset, ensuring you don’t sell for less than your desired amount. This method is ideal if you want full control over your selling price rather than accepting the current market rate.
  
  1. Enter Spot Trading
  2. Choose Desired Trading Pair – Crypto and Fiat Currency
  3. Indicate – Market or Limit Order
  4. Click on Sell

Withdrawing – Bank Card, Wire Transfer or Cash

After selling your crypto assets, the converted fiat currency will appear in your crypto wallet as a stablecoin. To withdraw your funds, simply navigate to your wallet, where you can transfer, store, track balances, and manage your assets effortlessly.

You have multiple ways to withdraw your funds: Cash Withdrawal: Collect cash from CreditService+ branches. Bank Transfer: Withdraw funds to any bank operating in Georgia, including Bank of Georgia (BOG), TBC Bank and Other Banks operated in Georgia.

You can withdraw directly to your bank account using either your card or account number for a smooth and secure transaction.

• Withdrawing via Bank Card:
  1. Enter Wallet
  2. Click on Withdraw
  3. Choose Asset
  4. Select Card
  5. Indicate the Card
  6. Enter the amount
  7. Click on Withdraw

If you haven’t added a card to your account yet, click here to learn how to link your Bank of Georgia (BOG) or TBC Bank cards for seamless withdrawals.

• Withdrawing via Wire Transfer:
  1. Enter Wallet
  2. Click on Withdraw
  3. Choose Asset
  4. Select Bank as a withdrawal method
  5. Indicate the Bank
  6. Enter IBAN
  7. Indicate the amount
  8. Write down Comments if needed
  9. Click on Withdraw

That’s it! Your funds will appear in your bank account within seconds, with no extra steps or delays.

Frequently Asked Questions

Convert vs. Spot Trading: What’s the Difference?

Convert: Ideal for beginners, allowing you to exchange assets instantly with no complicated procedures. Spot Trading: Recommended for experienced traders, offering the ability to buy and sell crypto at the best available market price for maximum profitability.

Which Method is Best for Beginners?

If you’re new to crypto, Convert is the best choice. It enables you to buy or sell assets in just a few clicks, making it a quick and hassle-free option.

Withdrawing to a Card vs. Withdrawing via Account Number: What’s the Difference?

Withdrawing to a Visa/Mastercard is Only available in GEL, 1.2 GEL transaction fee applies. Withdrawing via Bank Transfer (Account Number) - Available in GEL, USD, and EUR and Completely free of fees.

What is a Stablecoin?

A stablecoin is a type of crypto designed to maintain a stable value by being backed by traditional currency reserves.

Example: USDT (Tether) is a popular stablecoin, always equal to $1 (1 USDT = $1). On Cryptal, fiat top ups are converted into stablecoins to maintain their value: 1 GEL = 1 TOGEL.

Summary

As digital assets like Bitcoin, Ethereum, and Litecoin gain popularity, more people are investing in crypto due to its high growth potential. But a common question, especially among beginners, is - How do I cash out crypto from my account? - Luckily, cashing out your crypto is fast and easy, whether through a bank transfer or a direct debit to your card.

Exchange Your Crypto for Fiat: Convert your coins into Georgian Lari (GEL), U.S. Dollars (USD), or Euros (EUR). Choose Your Withdrawal Method: Select between bank transfer or card withdrawal, both of which are designed for beginners and experienced users alike. With user-friendly options, withdrawing funds is seamless and hassle-free!