Educational content, not investment advice. Crypto-asset values fluctuate.

Modulis 1 Β· First steps
10/10

How to Withdraw Your Money Back to a Bank

⚠️ CEX

The full loop

Crypto β†’ EUR β†’ bank β€” it's a simple, predictable route that works within 1-2 business days. In this lesson you'll get to know every route, so you can take your money back anytime, at your own pace.

Three ways to withdraw

MethodSpeedFeesBest for
Nexo β†’ SEPA1-2 business days0 EUR (free 1x/month)Small amounts, beginners
Kraken β†’ SEPA1-3 business days0-1 EURLarger amounts, experienced users
Binance β†’ SEPA1-2 business days1 EURAn alternative, if you already have Binance

Method 1: Nexo β†’ bank (recommended for beginners)

Before you start

Step by step

1

Sell your crypto for EUR

Nexo β†’ "Exchange" β†’ pick SOL (or ETH) β†’ EUR. Enter the amount. Nexo will show you the rate and the fee (~0.5-1.5%). Confirm.

2

Check your EUR balance

After selling, you'll see EUR in your Nexo account. That's already "plain money" β€” all that's left is transferring it to your bank.

3

Start the withdrawal

Nexo β†’ "Withdraw" β†’ "Fiat" β†’ EUR. Choose a SEPA transfer (the European bank network). Enter your bank's IBAN (the international account number, e.g. LT12 7044 ...). Nexo's first withdrawal each month is free β€” 0 EUR in fees.

4

Confirm by email and 2FA

Nexo will send a confirmation email and will ask for a 2FA (two-factor authentication) code. Confirm both.

5

Wait 1-2 business days

A SEPA transfer takes 1-2 business days. It isn't processed on weekends or holidays. Send it on a Monday and you'll usually receive it Tuesday.

6

Check your bank account

The EUR shows up in your SEB, Swedbank, Luminor, or other account. The sender will be "Nexo" or "Nexo Financial LLC". That's it β€” the money's in your bank.

What to prepare in advance

The bank may ask about the source of the funds β€” and you'll already be prepared for it. If you receive more than ~10,000 EUR in a single transfer, just have these on hand:

Method 2: Kraken β†’ bank (for larger amounts)

Why Kraken for larger amounts?

AspectNexoKraken
Single-transfer limitUp to ~50,000 EURUp to ~500,000 EUR
Fees (trading)0.5-1.5%0.16-0.26%
SEPA speed1-2 business days1-3 business days
KYCSimpleStricter

Step by step

1

Move your crypto to Kraken

Kraken β†’ "Funding" β†’ "Deposit" β†’ pick SOL/ETH. You'll get a Kraken deposit address. From your Jupiter Wallet (SOL) or MetaMask (ETH), send crypto to that address. IMPORTANT: pick the correct network (Solana for SOL, Ethereum for ETH).

2

Sell for EUR

Kraken β†’ "Trade" β†’ SOL/EUR or ETH/EUR. A "market order" (sells at the current price) means an instant sale at the current price. A "limit order" (a fixed price) means the sale happens once the price hits the level you set.

3

Withdraw EUR via SEPA

Kraken β†’ "Funding" β†’ "Withdraw" β†’ EUR β†’ SEPA. Enter your IBAN. The first time may require bank account verification (1-3 extra business days).

4

Receive your money within 1-3 business days

The sender will be "Payward Ltd" (Kraken's legal name). That's normal.

DeFi β†’ CEX β†’ bank (the full path)

If your crypto is in DeFi protocols (Kamino, Orca, Aave):

1. Close the DeFi position (withdraw from Kamino/Orca/Aave)
   β†’ Crypto returns to your wallet (Jupiter Wallet or MetaMask)

2. Send from your wallet to a CEX (Nexo/Kraken)
   β†’ "Withdraw" Jupiter Wallet / MetaMask β†’ Nexo/Kraken deposit address
   β†’ IMPORTANT: correct network! SOL = Solana, ETH = Ethereum

3. Sell crypto for EUR (inside the CEX)
   β†’ "Exchange" or "Trade" β†’ SOL/EUR

4. Withdraw EUR to your bank (SEPA)
   β†’ 1-2 business days

How long does the whole process take?

Total time: 1-3 business days. Most of it is the SEPA transfer.

Three things worth planning for

There are three friction points on this path β€” and you can prepare for each one in advance:

Each one has a clear solution β€” not an obstacle, but steps you already know.

Summary

StepHow long
DeFi β†’ walletSeconds to minutes
Wallet β†’ CEXSeconds to minutes
Sale β†’ EURSeconds
EUR β†’ bank (SEPA)1-2 business days
Total1-3 business days

The key takeaway

Crypto β†’ EUR β†’ bank is a simple, legal, and reliable process. You can cash out your money anytime. DeFi isn't a "one-way ticket" β€” it's a route you can always turn back on.

Quick check
What's the full path from a DeFi protocol to money in your bank?
Practice task
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Close the full loop β€” a test withdrawal to your bank

Confidence only comes once you've walked the whole path. Sell a small piece of crypto (worth 5-10 EUR is enough) and withdraw the euros to your bank β€” you'll see for yourself that the road back is always open.

This is a test with a small amount β€” the goal is to check the route, not cash out your portfolio. Remember: selling at a profit creates a tax obligation (15% GPM), so keep all your documents.

This is learning, not investing β€” use only small amounts you treat as tuition.

You just walked the whole crypto β†’ EUR β†’ bank path yourself β€” most people never try this step, but you already know it works.

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