Nobody tells you this when you first try to withdraw crypto to your bank account

Did this myself a few months back and it was way more confusing than it needed to be. Writing up what I wish someone had told me.

I'd been holding some Bitcoin for a while and finally wanted to move some profits to my bank account. Opened the exchange app, clicked withdraw, put in my IBAN... and then sat there for 20 minutes wondering why nothing was happening.

Here's what actually matters:

Verification comes first - Every legit exchange requires identity verification (KYC) before you can withdraw fiat. If you've only ever deposited and bought, you might not have completed the fiat withdrawal setup. Can take anywhere from a few minutes to a couple of days.

Two separate steps - Most people want euros in their bank, not crypto. The process is: sell crypto so your balance converts to fiat → then withdraw fiat to bank. Took me embarrassingly long to realise those were separate steps.

Bank transfer is almost always cheapest - SEPA in Europe is usually 0–0.5%, takes 1–2 business days. Card withdrawals are faster but cost noticeably more. Worth the wait unless you're in a rush.

Your bank might flag it - First time I withdrew a few hundred euros from a crypto exchange, my bank blocked it and texted me. Confirmed it was me, went through fine. Some banks are way more paranoid than others on first transfers.

Minimum withdrawal amounts - Most platforms have a minimum, often around €50–100 for bank transfers. Small amounts might not be eligible.

The whole thing is much simpler once you've done it once. Anyone else have a 'wait why isn't this working' moment their first time?