How to Sell Crypto for Fiat Currency
Convert your cryptocurrency back to fiat and withdraw to your bank account through Midas fiat off-ramp providers.
Selling for fiat quotes a rate, takes the crypto, and pays out to your bank. The quote is time-limited, and the payout timing belongs to the banking system rather than to the exchange — which is why the money can be gone from your wallet well before it appears in your account. Two clocks run here and only one is ours: the conversion happens immediately at the quote, and the payout then joins the banking queue. Plan around the second when the money is needed by a date.
Before you start
- Identity verification, and a verified bank account in your own name.
- The asset available in the wallet the sell screen draws from.
Open the Sell Section
Navigate to Fiat Gateway > Sell. Select the cryptocurrency you want to sell and the fiat currency you want to receive (e.g., USD, EUR). The system displays available providers and current quotes.
Get a Quote
Enter the amount of crypto to sell or the fiat amount you want to receive. Compare quotes from available off-ramp providers showing the exchange rate, fees, and the net amount you will receive in your bank account.
Provide Bank Details
Enter your bank account information or select a previously saved account. The account holder name must match your verified Midas identity. International transfers may require SWIFT/BIC codes and additional details.
Confirm and Wait
Review the transaction summary and confirm the sale. Your crypto is deducted immediately and the fiat transfer is initiated by the provider. Processing time depends on the provider and your bank, typically 1-3 business days.
If something goes wrong
- The quote expired before you confirmed.
- Quotes hold for a short window in a moving market. Request a fresh one rather than confirming a stale figure.
- The payout has not arrived.
- Check the order status first. Once it shows sent, the delay is with the banks, and the reference on the order is what your bank will need.
- The payout was returned by your bank.
- Name mismatches and closed accounts are the usual causes. Correct the bank details on file and the payout can be reissued; the crypto is not returned automatically.
Frequently asked questions
- Which currencies can I receive?
- Those listed for your region on the sell screen, which depends on the payout rails available there.
- Are there limits?
- Yes, tied to your verification tier and to the provider. Both are shown before you confirm.
- Can I cancel after confirming?
- No. The conversion executes at the quoted rate immediately.
- Can I sell to a bank account in another name?
- No. The receiving account must match the verified account holder.
- Is the rate better on spot?
- For larger amounts, usually — sell on spot for a stablecoin or fiat pair, then withdraw. The fiat gateway prices convenience into the quote.