How to Transfer Funds from Ledger to Your Bank Account - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

Interested in moving your crypto from Ledger to your bank account? This article outlines the steps to transfer crypto from your Ledger device to your bank account, assisting you in cashing out your crypto funds.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Connecting Your Bank Account to Ledger

Before you can transfer funds from Ledger to your bank account, you’ll need to establish a connection between the two. While Ledger Live primarily functions as a means to manage your crypto, some third-party services and applications facilitate the conversion of crypto to fiat currency and subsequent transfer to your bank.

Discover Apps for Fiat Withdrawals

Depending on your region, you may have access to Discover apps like Ramp, Transak, Bitply, and BTC Direct, which offer fiat withdrawal services. These platforms allow you to sell your cryptocurrencies and withdraw the resulting fiat currency directly to your bank account. By utilizing these services, you can seamlessly convert your crypto holdings into traditional currency.

To learn more about these apps, navigate to the Discover section in Ledger Live, and switch the categories to Sell.

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Transferring Crypto to Exchanges for Fiat Withdrawals with Ledger

You can transfer your crypto to a supported exchange platform that offers fiat withdrawal options, such as Coinbase, Binance, Kraken, and others. These exchanges allow users to sell their crypto assets and withdraw the proceeds to their linked bank accounts. You can also use services like Coinify to aid in the cash-out process. However, it’s important to note that most exchanges and withdrawal services require users to complete a Know Your Customer (KYC) verification process before enabling fiat withdrawals.

To transfer crypto from your Ledger to an exchange, follow these steps:

Ledger Live Desktop Ledger Live Mobile

  1. Click the Send button on the left panel or at the top of an account page.images/18377930982301.png

  2. Enter the Recipient address. This should be the deposit/receive address copied from the exchange.

    For optimal security, make sure always to double-check the addresses that you copy and paste. Click on Continue.

  3. Enter the Amount to send or its** countervalue*.* You can also click on Send Max to empty the account.

  4. Choose the Network fees from the drop-down list and click on Continue. A higher fee leads to faster processing of the transaction. Learn more >

  5. Verify the transaction summary before clicking on Continue. 

Verify and sign

Ledger Live Desktop Ledger Live Mobile

  1. Connect and unlock your Ledger device.
  2. Open the app as instructed and click on Continue.
  3. Carefully verify all transaction details on your device by pressing the right or left button to view all transaction details.
  4. Press both buttons to Accept and send the transaction if everything is correct. The transaction is then signed and sent to the network for confirmation. Choose Reject to cancel the transaction.
  5. By clicking on View details you may track the transaction until it gets confirmed.

 Important Network Selection Tip

Choosing the right network for transferring funds from your Ledger to an exchange is crucial. Mismatched networks can prevent your funds from appearing in the exchange account and may result in irrecoverable losses. Always ensure the asset’s network matches the one supported by the exchange to avoid any issues.