From Wallet to Fiat: How to Cash Out Your USDC

Wondering how to change your investment returns from crypto into your local currency? If you've got USDC sitting in your digital wallet, you can cash out into your bank account. So here is the explainer as to cashing out your USDC using CoinJar.

Steps to cash out your USDC

Create a CoinJar Account

If you don't already have one, sign up for an account. You'll need to provide some basic personal information and complete a verification process. UK residents are required (in accordance with local legislation) to complete an assessment and to wait 24-hours (see note at the end of the article).

Transfer your USDC to CoinJar

Once your account is set up, you'll need to transfer your USDC from your external wallet to your CoinJar wallet.

To do this, you'll need to find the 'Deposit' section on CoinJar and select USDC. You'll then be given a unique wallet address to send your USDC to.

Sell your USDC for your local currency

Once your USDC arrives in your CoinJar wallet, it's time to sell it for Pounds Sterling or your local fiat currency.

Navigate to the 'Trade' or 'Sell' section on CoinJar, select USDC, and enter the amount you want to sell.

Withdraw your fiat currency to your bank account

The final step is to withdraw your money to your bank account. Go to the 'Withdraw' section on CoinJar, select 'Bank Transfer', enter the amount you want to withdraw and your bank details.

There may be fees associated with transferring your USDC to CoinJar, selling your USDC, and withdrawing your fiat, depending on what country you are in and what your local currency is. Be sure to check CoinJar's fees if in doubt.

And that's it! You've successfully turned your digital USDC into real-world cash.