How to Transfer from a Crypto Wallet to a Fiat Wallet
Moving from crypto to fiat is now easier than ever, especially with platforms designed for both. In this article we break down the steps for transferring assets from a crypto wallet to a fiat wallet, and show how P100 streamlines the process with simplicity, speed, and security.
What Is the Difference Between a Crypto and Fiat Wallet?
A crypto wallet stores digital currencies like Bitcoin (BTC), Ethereum (ETH), or stablecoins like USDC. Depending on the type, it can be custodial (managed by a provider) or non-custodial (you hold your own private keys).
A fiat wallet, on the other hand, holds traditional currencies like EUR or USD. In digital banking platforms, it functions like a virtual bank account with a balance, an IBAN, and transfer options.
To "transfer" from crypto to fiat means converting a digital asset (like USDC) into euros, and making those euros available for use, whether that’s spending, transferring, or withdrawing.
Why Convert Crypto to Fiat?
There are plenty of reasons to move assets from a crypto wallet to a fiat one. You may need to:
- Pay for everyday expenses or bills
- Send funds to a traditional bank account
- Spend using a debit card
- Keep a portion of funds in local currency
- Fulfill regulatory or tax obligations
Even crypto native users often convert part of their balance to fiat for convenience or practical needs.
Popular Ways to Convert Crypto to Fiat
Before we look at how P100 simplifies the process, it’s useful to understand how people typically convert crypto into traditional money.
Peer-to-Peer (P2P) Platforms
These platforms connect buyers and sellers directly. You can choose someone willing to buy your crypto in exchange for fiat. While it gives you flexibility and control, P2P trading requires caution and more time to finalize deals.
Centralized Exchanges
Exchanges like Coinbase or Binance allow users to deposit crypto, sell it for fiat, and then withdraw it to a bank account. Though widely used, they often involve longer waiting times, additional fees, and withdrawal limits.
Crypto Debit Cards
Some providers offer debit cards that automatically convert your crypto at the moment of purchase. While convenient, this approach may include hidden fees and doesn’t always offer control over exchange rates.
How P100 Makes It Easy
P100 brings both crypto and fiat into a single, unified platform. Users can hold, convert, and use both types of currency within the same app, no need to switch services or move funds manually.
Step 1: Log into P100
Once you’re signed in to your P100 dashboard or mobile app, you’ll see your available crypto and fiat balances. You can hold assets like USDC, BTC, ETH, and euros all in one place.
Step 2: Select the Crypto You Want to Convert
From the crypto wallet section, choose the asset you’d like to convert (e.g., USDC). Tap the "Exchange" button.
Step 3: Convert to EUR
Enter the amount you want to convert and choose EUR as the target currency. P100 shows you the real-time exchange rate and any fees upfront. Confirm the transaction to complete the conversion.
Step 4: Access Your Fiat Funds
Your newly converted euros will appear instantly in your fiat wallet. From there, you can:
- Send EUR to a bank account via IBAN
- Spend it using your P100 Mastercard debit card
- Withdraw via supported ATM or payment services
It’s fast, intuitive, and doesn’t require moving funds between platforms.
What to Watch For When Converting Crypto to Fiat
Even with a seamless platform like P100, it’s helpful to keep a few important points in mind:
- Exchange Rates & Fees: Crypto prices can shift quickly. P100 displays conversion rates and fees clearly before you confirm a transaction.
- Security: Always use strong passwords, enable 2FA, and choose regulated platforms like P100 with bank-grade protection.
- Tax Implications: In many countries, converting crypto to fiat is a taxable event. Record the date, amount, and value of each swap to simplify reporting later.
Ready to Make the Switch?
Transferring from crypto to fiat doesn’t have to be complex. With P100, it’s instant, transparent, and fully integrated.
If you’re looking for a better way to manage and convert your digital assets, one that includes IBANs, a debit card, and full control, you’re in the right place.