Sometimes you may want to turn your crypto assets back into cash. Sock enables you to withdraw crypto and turn it to cash to be deposited into your bank account via ACH bank transfer or to your Visa debit card.
The minimum withdrawal amount is $15 USD or equivalent.
Sock only supports the withdraw of Ethereum (ETH) and Bitcoin (BTC) at the moment. If you'd like to cash out a different asset, swap it to ETH first.
Option 1: Transfer to bank account
Step 1: Open your Portfolio and tap on Withdraw. This will open the sell window using Moonpay.
Step 2: Enter the Amount of ETH you want to sell and see your total + fees for the withdrawal. Tap Continue when ready.
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Step 3: If you are withdrawing for the first time, you will be asked to set up a withdrawal method. Select Bank Account.
Step 4: Connect your bank account by following the prompts using Plaid. You will need your bank's login credentials to connect your account. Note that the Sock application does not view, manage, or store your bank account information.
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Step 5: Your bank account should now be connected, and you can see the summary of what your deposit will look like. In this example, we're using Chime Checking as the bank account. Tap on Sell Now to continue.
Step 6: Tap on Send with Sock to complete your transaction and convert your ETH into cash. You should see the transaction as pending nearly immediately in your Sock account. Your money should be deposited within 3-5 business days.
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Option 2: Transfer to a Visa Debit card
You can also have the sale of your ETH transferred to your Visa debit card rather than your bank account. This type of transfer is processed nearly instantly and you can have almost immediate access to your funds.
Step 1: Follow steps 1-2 above.
Step 2: If you are withdrawing for the first time, you will be asked to set up a withdrawal method. Select Debit Card.
Step 3: Enter your debit card details and tap on Continue.
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Step 4: Your Visa debit card should now be connected, and you can see the summary of what your deposit will look like. Tap on Sell Now to continue.
Step 6: Tap on Send with Sock to complete your transaction and convert your ETH into cash. You should see the transaction as pending nearly immediately in your Sock account. Your money should be deposited nearly instantly to your debit card.
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