Crypto.com is a popular cryptocurrency exchange platform where users can deposit fiat currencies into their fiat wallets and trade cryptos.
Crypto.com also has a Crypto.com visa card that allows users to stake their cryptos. Depositing funds to your fiat wallet is essential to purchase crypto and to top up Crypto.com visa cards.
What Is Fiat Wallet In Crypto.com?
Crypto.com provides the facility of Fiat Wallets to the users so that they can withdraw or deposit funds from and to their bank accounts. Basically, the Fiat wallet feature allows depositing funds in Crypto.com which can be used to buy cryptocurrencies in Crypto.com.
Following is the list of Fiat Wallets Available on Crypto.com
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Euro (EUR)
- Pound Sterling (GBP)
- United States Dollar (USD)
- USD Coin (USDC)
- Brazilian Real (BRL)
Each wallet will have its own detailed specifications that may be unique to it. For this discussion, we’ll use the USD Fiat Wallet.
Uses Of Fiat Wallet On Crypto.com
Fiat Wallet on Cryprto.com exchange platform can be used for the following:
- Crypto purchase
- Recurring buy
- Crypto.com Visa card top-up
- Sell crypto to fiat
- Withdraw fiat to bank account
Also Read: Is Crypto.com Safe & Legit?
Crypto.com Fiat Wallet Eligibility Criteria
The following points list the eligibility criteria for a USD fiat wallet on Crypto.com:
- Has an SSN (social security number).
- Has a US residential address.
- Has a Bank account in the US.
The US users who meet all the above requirements are eligible to USD fiat wallet and make ACH or wire transfer deposits.
How To Set Up Fiat Wallet On Crypto.com?
Following are the steps to set up a fiat wallet on Crypto.com:
Step 1: Launch the Crypto.com app on your device and go to the home page.
Step 2: Click on “Transfer.”
Step 3: Click on “Deposit.”
Step 4: Click on “Fiat” where it says “Deposit fiat from your bank account.”
Step 5: It will then ask you to first set up a fiat currency wallet before you can deposit fiat. So, click on the “+ Set up new currency.”
Step 6: Select the currency option that applies to you, say USD.
Step 7: It will then list the things that you can “top-up” with your bank transfer. Scroll down and accept the terms & conditions by clicking on the check box.
Step 8: Tap on “Next.”
Your bank transfer account will then be ready to use and a pop-up will declare that your fiat wallet is now ready to use.
Also, the steps are the same for the users who’ve previously set up a fiat wallet and those who have not.
How To Deposit Funds In Crypto.com Fiat Wallet?
Steps to Deposit Funds in Crypto.com Fiat Wallet:
Step 1: Launch the Crypto.com app on your device and go to the home page.
Step 2: Click on “Transfer.”
Step 3: Click on “Deposit.”
Step 4: Click on “fiat” where it says “deposit fiat to your bank account.” If you have just set up your fiat wallet, it might take a minute or two to officially update your wallet on the app and show you the option.
Step 5: Click on your fiat wallet.
Step 6: You will find a list of different options you have for depositing money to the fiat wallet like ACH & wire transfer. Click on the option of your choice..
Step 7: You’ll be taken to a screen with all the information that is required to transfer funds (USD here) to your Crypto.com account. You can click on the “send all account info to my email” button at the bottom to receive all the information on your mail.
Step 8: Follow the information and steps to make the transfer.
Also Read: Are NFTs Safe & Legit?
Crypto.com Deposit Methods
Crypto.com USD fiat wallet provides two methods for deposit, ACH & wire transfer. To determine which method is suitable for you, the comparison between the two methods is as follows:
| Parameters | ACH | Wire |
| Minimum transfer | $20 per transaction | $5000 per transaction |
| Maximum daily limit | 5 times per day or $50,000 | 5 times per day or $250,000 |
| Maximum monthly limit | 30 times/month or $500,000 | 30 times/month or $1,000,000 |
| Processing time | 3-5 business days | 1-2 business days |
| Eligibility | US users with US residential addressSSN (social security number) | US users with US residential addressSSN (social security number) |
| Requirement | No third-party transfers. USD transfers only transfer from US-based bank account | No third-party transfers. USD transfers only transfer from US-based bank account |
| Fee | Crypto.com charges zero fees for this service. But, the bank may charge a separate fee. So, you should check with your bank before initiating a transfer. | Crypto.com charges zero fees for this service. But, the bank may charge a separate fee. So, you should check with your bank before initiating a transfer. |
Crypto.com Fiat Deposit Not Showing Up
If you’ve made a deposit to your fiat wallet and it’s not updating even after the given waiting time, you should contact the Crypto.com team.
Without wasting any time, contact the customer support team at [email protected]. Give them the details of your deposit like in case of a wire transfer:
- The date & time when you sent the wire,
- names on the bank account where the wire started,
- Routing & account number where you wired the funds,
- Unique code included in the wire,
- Amount of the wire.
Also Read: How to Create NFT Art?
Crypto.com Fiat Deposit Time
A transfer from your bank account to your fiat wallet via wire transfer will take 1-2 business days. Whereas, a transfer from your bank account to your fiat wallet via ACH will take 3-5 business days.
Crypto.com Fiat Wallet Fees
The Crypto.com exchange platform does not charge any fees for any deposits to your fiat wallet. Whether you make the deposit via ACH or via wire transfer, it charges zero fees in either case.
The only charges you may bear can come from your bank. Therefore, you should check with your financial institution before making a transfer.
How Can I Use The Funds Deposited Into My Crypto.com Fiat Wallet?
You can use the funds you deposited in your Crypto.com fiat wallet in the following ways:
- You can purchase crypto on the Crypto.com app.
Steps: Home Page → Buy button → select crypto you want to buy → choose fiat wallet from options → Select currency (USD here).
- You can top up your Crypto.com Visa Card.
Steps: visa card page → top-up → fiat wallet → enter the top-up amount → confirm the transaction.
Are Funds Deposited From Non US Banks Accepted?
No, only the funds deposited from US bank accounts are accepted. Funds transferred from non-US bank accounts are rejected.
Also Read: Top 10 NFT Games
Conclusion
Crypto.com has the facility of fiat wallets to allow users to transfer funds into their wallets. The users can use these funds to purchase cryptocurrencies on the Crypto.com platform.
And, they can also use these funds to top-up their Crypto.com visa card. The platform supports a few currencies and fiat wallets.
And each currency has its own associated steps. The detailed information for your preferred fiat wallet can be found on the Crypto.com help page.
