Crypto adoption is on the rise, with millions of people owning and using Bitcoin (BTC), Ethereum (ETH), stablecoins, and other digital assets for various transactions, such as storing and growing money, sending international remittances quickly, and more.
If you’re new to crypto, you must know that using them in the real world usually requires converting them into traditional currencies like euro (EUR) and transferring them into a debit card or bank account.
Having a secure crypto wallet that allows you to transfer crypto to a bank account makes this process simple and efficient. Without this feature, you would need to rely on multiple steps or third-party services, which can add complexity, extra fees, and delays to your transactions. But don’t worry. Here’s a list of crypto wallets that allow transfer to a bank account for more flexibility and convenience in your crypto journey.
1. Ka.app
Ka.app is a user-friendly crypto wallet and payment platform designed for all sorts of crypto users. For European Economia Area (EEA) users, one of its standout features is the ability to convert crypto into EUR within seconds, and transfer those funds directly to an international bank account number (IBAN). All you need to do is activate the Cash feature on the platform and you’ll automatically generate your own crypto IBAN that you can use to transfer EUR to an external IBAN.
Other Notable Features
Ka.app also allows you to send crypto payments for free to other Ka.app users, buy crypto with card, wire transfers, and Apple Pay, order your own crypto debit card, and more. In terms of security, Ka.app has two-factor authentication (2FA), conducts regular software updates, thorough Know Your Customer (KYC) checks, and more.
Withdrawal Fees and Turnaround Time
If you’re thinking about withdrawal fees, Ka.app charges a Single Euro Payments Area (SEPA) fee worth 0.19% of the withdrawal amount. You can expect your funds to arrive in your bank account within 1-2 business days.
2. Kraken
Kraken is one of the most established crypto exchanges globally, known for its long list of crypto offerings. A Kraken wallet allows you to transfer funds to your bank account by converting crypto to a traditional currency, such as EUR, US Dollar (USD), or Grean Britain Pound (GBP).
Other Notable Features
Kraken is also for users looking for more advanced trading options because it offers margin trading, futures, and spot trading. Another best thing about the platform is having robust security features, such as 2FA, SSL encryption, and cold storage, ensuring that funds are well-protected from potential threats.
Withdrawal Fees and Turnaround Time
Transferring funds from Kraken to a bank account in Europe costs €1. Just like Ka.app, the transfer usually takes 1-2 business days.
3. Coinbase
Coinbase is a popular crypto wallets and exchange, known for its simple, clean design that makes crypto transactions, including transfers to bank accounts, easy to execute. Aside from BTC and ETH, it supports a broad selection of altcoins, providing users with diverse options for trading and converting their assets into traditional currency.
Other Notable Features
Coinbase offers learning resources, making it easy for new users to understand the steps involved in buying, selling, and transferring cryptocurrencies to their bank accounts. It also prioritizes security by employing robust measures like 2FA and adhering to regulatory guidelines, making it a trusted platform for safe transactions.
Withdrawal Fees and Turnaround Time
For SEPA bank transfers within Europe, Coinbase charges €0.15 per withdrawal. The funds can also reach your bank account within 1-2 business days.
Final Thoughts
While Ka.app, Kraken, and Coinbase offer the ability to convert crypto to EUR and transfer funds to a bank account, each of them caters to slightly different needs.
Ka.app focuses on simplifying crypto transactions, especially when using them for real-world settings (i.e., sending crypto overseas, booking flights with crypto, etc.). Kraken offers more advanced trading tools for seasoned investors, while Coinbase stands out as an ideal option for beginners looking to easily grow and manage their crypto earnings.
On another note, if you’re a MetaMask or a Trust Wallet user looking for similar options, please feel free to check out our MetaMask alternatives and Trust Wallet alternatives articles.
FAQs
Can I transfer money from my crypto wallet to my bank account?
If you’re using a crypto wallet that has this feature, then you can transfer money from your crypto wallet to your bank account. For instance, with Ka.app, you can do this by activating your Cash account, converting crypto to EUR, then transferring EUR using your IBAN in the app to your external IBAN.
Which wallet can transfer money to a bank?
Ka.app, Kraken, Coinbase, and other crypto wallets make it easy to move funds to your bank account. These platforms let you sell crypto for traditional currency and then transfer the balance to your bank using services like SEPA or wire transfers.
What is a crypto-friendly IBAN?
A crypto-friendly IBAN is a bank account number that lets you to receive, send, and manage funds related to crypto activities. Ka.app offers a crypto-friendly IBAN, allowing you to convert crypto to EUR and vice versa in just a few taps/clicks.
What can I use instead of IBAN?
If IBAN isn’t available in your crypto wallet, you can use alternative methods to send and receive money, such as SWIFT codes for international transfers, account numbers with local bank routing numbers, or crypto transfers using wallet addresses for blockchain transactions.