Cashing out crypto means sending tokens from your Phantom wallet to an exchange, selling for fiat (such as USD or EUR), then withdrawing to your bank account.
Exchanges work best with well-known tokens like SOL, ETH, or stablecoins. If you're holding meme coins or other lesser-known tokens, swap them to a native token or stablecoin before cashing out.
Important: Sending CASH token? Not all exchanges support it. Find out which exchanges do here: Send and receive CASH token on exchanges.
Before you send
- You need a small amount of the network's native token (such as SOL on Solana or ETH on Ethereum) to cover network fees. For more information, see How much native token do I need for network fees?
- When sending to a new address, Phantom may display a warning. You can continue if you're sure the address is correct.
Step 1: Get the deposit address from an exchange
- Find an exchange available in your region and make sure you have an account set up with a bank account linked for withdrawals.
- In the exchange, find the onchain deposit option.
- Copy the deposit address for the token you're sending and take note of the network.
Step 2: Send crypto from Phantom
Make sure the network matches what you're sending from Phantom. For example, if you're sending USDC on Ethereum, then the deposit address needs to be on Ethereum too. If you're sending non-native tokens, pay attention to the network logo in the lower right of the token's symbol.
Warning: Sending crypto on the wrong network can result in lost funds.
- On the Home tab, select Send.
- Choose the token you want to send.
- Paste the exchange deposit address.
- Enter the amount to send.
- If the exchange requires a memo tag, enter it in the Memo field.
- Confirm the transaction.
Step 3: Sell crypto for fiat on the exchange and withdraw
- On the exchange, once your funds arrive, sell them for fiat (such as USD or EUR).
- Withdraw fiat to your bank account using the exchange's withdrawal options.
Exchange fees and processing times vary. Selling crypto for fiat may be taxable depending on where you live.
Common exchanges
The following table lists a few commonly used exchanges that you can send crypto to.
| US exchanges | Global exchanges |
|---|---|
| Binance.us | Binance |
| Coinbase | Bitfinex |
| Gate.com (US) | Gate.com |
| Kraken | HTX |
| Ramp Network | OKX |
See also
In the US and completed identity verification for Phantom Cash? You can withdraw crypto directly to your US bank account. See Withdraw CASH from your Cash account.