With the growing popularity of hardware wallets and the increasing need for safe crypto storage, Tangem Wallet has emerged as a leading solution for storing digital assets securely. However, one common question that arises for users is: how to transfer Tangem to bank account? If you’re looking to cash out your crypto stored on a Tangem Wallet and move the funds to your bank account, you’ve come to the right place.
In this comprehensive guide, we’ll walk you through everything you need to know to successfully transfer Tangem to bank account, including the tools you’ll need, the steps involved, and important tips to avoid delays or losses.
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What is a Tangem Wallet?
Before diving into the steps to transfer Tangem to bank account, it’s important to understand what Tangem is. Tangem Wallet is a next-generation hardware wallet that allows users to store and manage their cryptocurrencies through NFC-enabled cards. It’s completely offline, meaning there’s no risk of hacking through software vulnerabilities.
Users love Tangem for its simplicity, portability, and high-security standards. The wallet supports multiple cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USDT, and many ERC-20 tokens.
But despite the robust security features, the wallet itself does not directly support fiat withdrawals. Therefore, if you want to transfer Tangem to bank account, you’ll need to use a crypto exchange as a bridge.
Can You Transfer Tangem to a Bank Account Directly?
No, you cannot transfer Tangem to bank account directly because Tangem is a cold storage wallet and does not have a fiat gateway. To convert crypto assets stored on Tangem into fiat currency (like USD, EUR, or INR), you must transfer your crypto from the Tangem Wallet to a centralized exchange or trading platform that supports fiat withdrawals.
What You Need Before You Begin
To transfer Tangem to bank account, you’ll need the following:
- A Tangem Wallet with crypto funds
- A smartphone with NFC functionality and the Tangem app installed
- An account on a crypto exchange that supports both your crypto and fiat withdrawals (e.g., Binance, Coinbase, Kraken)
- A verified bank account linked to your exchange account
Step-by-Step Guide to Transfer Tangem to Bank Account
Step 1: Open the Tangem App and Check Your Balance
Start by launching the Tangem Wallet app on your smartphone. Tap your Tangem card to your phone’s NFC reader. Once recognized, you’ll see your balance and the list of assets stored on the wallet.
Make sure you have enough balance of the crypto asset you want to cash out. Also, keep an eye on network fees if you’re planning to transfer Ethereum or tokens on congested blockchains.
Step 2: Choose a Supported Exchange
To transfer Tangem to bank account, you need to send your crypto to a centralized exchange. Some reliable options include:
- Binance (global reach and multiple withdrawal options)
- Coinbase (user-friendly, available in the U.S. and Europe)
- Kraken (strong security and fiat support)
- WazirX or CoinDCX (for Indian users)
Create and verify your account if you haven’t already. Complete KYC procedures to enable fiat withdrawals.
Step 3: Generate a Deposit Address
Within your exchange account, navigate to the “Deposit” section and choose the cryptocurrency you want to send from Tangem (e.g., BTC, ETH, USDT). You will receive a deposit address—this is where you’ll send your funds from the Tangem Wallet.
Copy the address carefully, and double-check the blockchain network (especially for tokens like USDT, which exist on multiple chains like ERC-20, TRC-20, and BEP-20).
Step 4: Send Crypto from Tangem Wallet to Exchange
Now, return to the Tangem app and select the cryptocurrency you want to send. Tap “Send,” then paste the deposit address from your exchange. Confirm the network and enter the amount you wish to send.
Once you confirm, the transaction will be broadcast to the blockchain. Depending on network congestion, the transaction might take a few minutes to an hour.
This step is crucial in the process to transfer Tangem to bank account, as it moves your funds from a cold wallet to a liquid environment.
Step 5: Sell Crypto for Fiat Currency
Once your funds arrive on the exchange, go to the trading section and sell your crypto for fiat. For example, if you received BTC, you can sell it for USD, EUR, or other supported currencies.
Most exchanges allow either instant sell or limit/market trading, depending on your preference and timing.
Step 6: Withdraw Fiat to Your Bank Account
Now that you have fiat in your exchange account, go to the “Withdraw” or “Cash Out” section. Select your bank account (or add one if not already linked), and enter the amount you wish to withdraw.
Confirm the details and submit the request. Withdrawals may take anywhere from a few minutes to a few business days, depending on your region and bank.
This final step completes the process to transfer Tangem to bank account.
Tips to Make the Process Smooth
- Double-check addresses: Sending to the wrong wallet address can result in permanent loss.
- Mind the fees: Both network and exchange fees apply during transfers and withdrawals.
- Use a trusted exchange: Always use regulated and popular exchanges for better security.
- Start with a test transfer: Especially if it’s your first time, send a small amount first to ensure everything works smoothly.
Common Issues When Transferring Tangem to Bank Account
Here are some problems users may encounter when they try to transfer Tangem to bank account:
- Network selection errors: Sending USDT on the wrong chain (e.g., ERC-20 to a TRC-20 address) can result in lost funds.
- KYC delays: If your exchange account isn’t fully verified, fiat withdrawal might be restricted.
- Unsupported currencies: Not all exchanges support every coin Tangem can hold. Stick to common ones like BTC, ETH, and USDT for cashing out.
Is It Safe to Transfer Tangem to a Bank Account?
Yes, it is safe as long as you:
- Use reputable exchanges
- Verify all addresses and details
- Avoid phishing links and unofficial apps
Tangem Wallet is designed for long-term secure storage, so moving funds out should be done carefully and ideally only when needed.
Final Thoughts
The process to transfer Tangem to bank account is straightforward once you understand the steps and have access to the right tools. Although Tangem itself doesn’t support fiat conversions, you can easily bridge the gap using centralized exchanges.
Whether you’re looking to cash out profits or simply need liquidity, following the correct procedure will ensure a smooth and secure experience. Always stay informed, double-check your actions, and use trusted platforms.
If you’re ready to move your crypto into fiat, now you know exactly how to transfer Tangem to bank account—quickly, safely, and effectively.
