Move your crypto tips from your wallet to your bank
A reader liked your post and tipped you in crypto. Nice. Now it's sitting in your wallet as SOL, BTC, ETH or USDT, and what you actually want is pounds, euros or dollars in your bank account. You can't send crypto straight to a bank account. A normal bank account can't receive it. You go through an exchange, the kind of company that swaps crypto for normal money. This guide walks through it from your wallet to your bank, plus the few spots where people tend to lose money or get stuck. A note on how tips work on QuirkKit, because it matters here. A tip goes straight from the reader's wallet to yours. QuirkKit takes no cut and never holds your tips, and it doesn't send them to banks. Once a tip lands, it's yours, and moving it to your bank is up to you, through a service you choose. If you haven't set up tips yet, start with the Accept tips as a writer guide linked at the end of this page.
Before you start: check the exchange is allowed where you live
This part is boring, but it matters most. The rules depend on your country.
UK. Most of the crypto market isn't regulated in the UK yet. Crypto exchanges operating in the UK have to be registered with the FCA for anti-money-laundering. That's not the same as full regulation, and the full rules only start on 25 October 2027. Look the company up on the FCA register before you sign up. The FCA also says it's highly unlikely crypto losses would be covered by the Financial Services Compensation Scheme.
FCA register: https://register.fca.org.uk/s/
EU. Since 1 July 2026 at the latest (earlier in some countries), crypto companies serving customers in the EU need MiCA authorisation. ESMA, the EU markets regulator, keeps a register of authorised providers. Check the company is on it.
ESMA register: https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica
US. There's no single national licence. Exchanges have to register with FinCEN as money services businesses, and most states also require a money transmitter licence. New York requires a BitLicense or a trust charter from NYDFS. Check that the exchange's own licences page lists your state, or look the company up on NMLS Consumer Access. If your state isn't listed, move on.
We don't recommend any particular exchange, and nothing here is a reason to get more crypto. This guide is about turning what you've already been tipped into cash.
The steps
1. Open an account and verify your identity. Every legitimate exchange will ask for ID, and often proof of address. If a service says you can skip this, treat that as a warning sign.
2. Add a bank account in your own name. Exchanges pay out only to an account that matches the name you verified. A partner's account or a friend's account won't work.
3. Find out which coin and network the exchange accepts. Do this before you send anything. More on this in the next section.
4. Send a small test amount from your wallet. Wait until it shows up on the exchange, then send the rest.
5. Sell the crypto for GBP, EUR or USD on the exchange.
6. Withdraw to your bank. In the UK that's usually Faster Payments, in the EU it's SEPA, and in the US it's ACH or a wire.
7. Keep a record. Save the date, the coin, how much, its value in your currency, and the exchange and bank statements. You'll need them for tax, and your bank might ask.
How long it takes, and what it costs, depends on the exchange, your bank and the network. It can be minutes, or it can be a few working days. Check the exchange's own fee page and help pages for the real numbers. They change often, so don't rely on a figure from a blog, this one included.
Match the network, or the coins can disappear
This is the step that catches people most. Some coins travel on more than one blockchain network. USDT, for example, exists on BNB Smart Chain, Ethereum, Tron and others. The exchange gives you a deposit address for one specific network.
If you send on a network the exchange doesn't support, the coins may never arrive. Some large exchanges say coins sent on the wrong network are lost and can't be recovered.
So for QuirkKit tips:
USDT tips come in on BNB Smart Chain. Some of the biggest exchanges don't accept USDT on BNB Smart Chain at all. Several didn't when we checked in October 2026. Check before you send, and if yours doesn't, you'll need another route.
SOL, BTC and ETH each have their own network, but still pick the matching one in the exchange's deposit screen. Some wallets show several options for the same coin.
Every send costs a network fee, paid in that network's own coin. For USDT on BNB Smart Chain, that's BNB, so keep a little BNB in your wallet as well as the USDT.
The small test send in step 4 is there because of this. It's cheap insurance.
If you're in the EU and were tipped in USDT
USDT's issuer isn't authorised under MiCA, the EU's crypto rules, so ESMA told exchanges serving EU customers to stop offering it for trading by the end of March 2025. Several of the largest have done so. You may not be able to sell USDT on your usual exchange at all. Some large exchanges convert EU customers' leftover USDT to another stablecoin automatically, and USDT sent to them after their cut-off date may not be credited.
Before you send USDT, check your exchange's help pages to see whether it still supports it for your country, and on which network.
Your first withdrawal
The first one tends to be slower than the rest. A few things to expect:
Deposit first, then withdraw. Some exchanges only pay out to a bank account you've already sent money from. That means a small bank transfer into the exchange before you can take anything out.
Holds. A new account or a first withdrawal can be held for a few days.
Questions about your wallet. The exchange may ask you to confirm the wallet you sent from is yours. That's normal under anti-money-laundering rules.
Questions from your bank. Some banks look closely at money coming from crypto exchanges, and they may ask where it came from. Your records from step 7 answer that.
Do the first one when nothing urgent depends on it. After that it usually gets routine.
Watch out for scams
People cashing out crypto get targeted. Some red flags:
Anyone asking you to pay a "release fee", "withdrawal tax" or "verification deposit" to unlock your money. Real exchanges and tax offices don't work like that.
Anyone asking for your recovery phrase or private key. Never share it. Not with support, not with anyone.
Links in messages, emails or DMs that pretend to be from an exchange. Type the address yourself or use the official app.
Services promising no ID checks, or better rates if you send coins to a private contact.
The FCA's ScamSmart page has more, and we've written about "claim free crypto" scams too.
FCA ScamSmart: https://www.fca.org.uk/scamsmart
"Claim free crypto" scams: /blog/claim-free-crypto-scams
Tax: check, don't guess
Tips you receive in crypto may count as income. Selling crypto for cash can have tax consequences too. The rules depend on where you live and your own situation, so we won't tell you what you owe. Start with your tax office's own guidance:
UK, HMRC: Check if you need to pay tax when you receive cryptoassets: https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-receive-cryptoassets
UK, HMRC: Check if you need to pay tax when you sell cryptoassets: https://www.gov.uk/guidance/check-if-you-need-to-pay-tax-when-you-sell-cryptoassets
US, IRS: Digital assets: https://www.irs.gov/filing/digital-assets
EU and elsewhere: your national tax office's website
Then check with a tax adviser about your own situation. The records from step 7 will make that conversation much shorter.
Related: How to receive money with crypto: /earn/receive-money-with-crypto ยท Accept tips as a writer: /earn/accept-tips-as-a-writer
Last checked: 17 October 2026.
Frequently asked questions
How do I withdraw crypto to my bank account in the UK?
Send it from your wallet to an exchange that's registered with the FCA, sell it for pounds, and withdraw to a UK bank account in your own name, usually by Faster Payments. Check the exchange on the FCA register first.
How long does it take to get crypto into my bank account?
It depends on the network, the exchange and your bank. It can be minutes, or a few working days, especially the first time. The exchange's help pages give its own timings.
Can I send crypto straight to my bank account?
No. A normal bank account can't receive crypto. You sell it for normal money on an exchange first, then withdraw that to your bank.
Is withdrawing crypto taxable?
It can be, depending on where you live. Read HMRC's or the IRS's guidance linked above, or your own tax office's, and check with a tax adviser.
Can QuirkKit send my tips to my bank?
No. Tips go straight from the reader's wallet to yours. QuirkKit doesn't hold them or send them anywhere. You move them to your bank yourself, using the steps above.
What happens if I send coins on the wrong network?
They might not arrive. Some large exchanges say coins sent on the wrong network are lost and can't be recovered. That's why the small test send is worth it.