How to Use Wise to Withdraw Fiat from CoinJar

You have traded Bitcoin or Ethereum and now want to cash out some gains to pay for a trip or cover everyday bills. In the past, moving money from a crypto exchange to a spending account often meant slow bank transfers, extra steps, and higher fees.

That is starting to change. If you use CoinJar and you have a Wise account, you can now send fiat currency straight from CoinJar to Wise. This lets you turn crypto profits into money on a global, multi-currency card that you can use online, in-store, or while traveling.

Why CoinJar and Wise work together

Wise (formerly TransferWise) is a financial technology company that focuses on low-cost international money transfers. While Wise is careful about crypto, it has opened up to fiat withdrawals from a small group of approved exchanges.

Regulation is the key. Wise generally supports fiat transactions for exchanges that are registered. In the USA, CoinJar, Inc. is a registered Money Services Business with FinCEN and licensed as a money transmitter. CoinJar is also registered in the United Kingdom and the European Union. CoinJar is also registered in Australia, so it fits within Wise’s current policy for supported exchanges.

Limitations to keep in mind

Wise support does not apply to all exchanges. For example, some large global platforms are not supported by Wise at this time.

There is another important limit. You can usually withdraw money from CoinJar to Wise, but Wise states that sending fiat from Wise to a crypto exchange is not officially supported. Some people say they have been able to deposit that way, but it is not guaranteed and can change without notice.

How it works in practice

You cannot send Bitcoin or any other cryptocurrency directly to Wise. Wise is built for fiat money like USD, EUR, GBP, and AUD. It does not hold crypto the way a wallet or an exchange does.

You need to convert your crypto inside CoinJar first, then withdraw that fiat to Wise.

Step 1: Set up your accounts

Before you start, you need verified accounts on both platforms.

• CoinJar: Complete identity verification and any required KYC checks.
• Wise: Sign up, verify your ID, and get your multi-currency account details.

Step 2: Sell your crypto

Since Wise does not accept direct crypto deposits, you must sell your coins or tokens on CoinJar for fiat.

For example, if you hold Ethereum, you can sell it for USD, AUD, GBP, or EUR on CoinJar, depending on what currencies your account supports. Once the sale is complete, your balance will show fiat instead of crypto.

Step 3: Withdraw to Wise

After your funds are in fiat on CoinJar, you can send them to Wise.

• Go to the withdrawal section in your CoinJar account.
• Add your Wise account details as a new bank account recipient. Use the local details Wise gives you (for example, account number and routing number for USD, IBAN for EUR, sort code and account number for GBP).
• Choose how much fiat you want to withdraw, review the details, then confirm the withdrawal.

When the transfer arrives in your Wise account, you can:

• Spend it worldwide with your Wise debit card.
• Hold it in one or more currencies.
• Convert it to other currencies at Wise’s rate and then send it out to other bank accounts if you wish.

Important risks and security tips

Using Wise with CoinJar can be convenient, but moving money between crypto and fiat always carries some risk. Take a few precautions before you cash out.

Account security

When you link a new bank account or withdrawal method, double-check every account number and reference field. If you send money to the wrong place, it can be hard or impossible to get it back.

Make sure your Wise account is fully verified and that your name details match your CoinJar account. This helps reduce the chance of delays, holds, or extra checks on incoming funds.

Use strong passwords and two-factor authentication (2FA) on both services. Avoid reusing passwords across different platforms.

Phishing attempts

Scammers often use new features and integrations as bait. If you receive an email or message that claims to be from CoinJar or Wise and asks you to do anything below, treat it as suspicious:

• Reconnect your accounts
• Share your password
• Send your 2FA codes
• Click an odd-looking link to "fix" a problem.

Access CoinJar and Wise by typing their web addresses directly into your browser or by using their official apps. Legitimate platforms will not ask for your password or 2FA codes over email, text, or social media.

Regulatory changes

Rules for moving money between crypto and fiat can change over time. Wise updates its acceptable use policy, and banks review their stance on crypto-related transfers.

CoinJar is currently supported because of its regulatory status in the UK and its registration in Australia. However, future policy updates from Wise, banks, or regulators could affect availability or limits. Check recent announcements from both CoinJar and Wise before planning large transfers.

Summary

Using Wise with CoinJar gives you a practical way to turn crypto gains into spendable fiat without relying only on traditional bank transfers. You sell your crypto on CoinJar, withdraw the fiat to Wise, then spend or convert those funds across multiple currencies.

As long as you remember that Wise only accepts fiat, not crypto, and you keep an eye on security and policy updates, this can be a fast and efficient method to cash out.