Following the launch of Fiat Deposit, CoolWallet has partnered with Bridge, a U.S.-based payments provider under Stripe, to officially introduce the new Fiat Withdrawal service.
Starting now, you can simply initiate a blockchain address transfer to convert supported crypto into U.S. dollars (USD) and have the funds securely and quickly deposited directly into a U.S.-based bank account.
With a simple workflow and compliance-ready security, Fiat Withdrawal makes cashing out crypto more intuitive than ever.
⚠️ Before you begin, please make sure you meet the withdrawal eligibility requirements.
Contents
Overview of First-Time Fiat Withdrawal Steps
For first-time users, please complete the steps below. After creating a Bridge account and completing identity verification (KYC), future withdrawals will only require Step 4 to quickly send crypto and receive USD.
If you have already completed Bridge account registration and identity verification during the Fiat Deposit process, you can skip registration and verification and proceed directly with Fiat Withdrawal.
Step 1. Check withdrawal eligibility
Before you apply, please make sure you meet the withdrawal eligibility requirements. If you do not meet the requirements, the transfer may fail and you may incur network fees. Please review the following limitations carefully:
- Currently, only conversion to U.S. dollars (USD) is supported
- Withdrawals are only supported to bank accounts registered in the United States
- Bank eligibility and related processing are determined and handled independently by Bridge
If you meet the requirements above, you can initiate a blockchain address transfer to convert supported crypto to USD and have it deposited directly into the selected U.S. bank account.
Please note: even if you hold a USD account in your own name, it is not eligible if the bank is not registered in the United States.
Step 2. Create a Bridge account and complete identity verification (KYC)
To apply for a Bridge account, identity verification (KYC) is required. Accepted identity documents may vary by nationality. We recommend using the English name shown on your ID and prioritizing a passport as your verification document.
Please open the CoolWallet App → Wallet → Send → Fiat Withdrawal.
Click Sign / Log in and check that you meet the eligibility requirements to proceed with the transfer.
Next, enter your name and email address. Bridge will send a verification email to your inbox. Please complete the email verification to continue.
During identity verification, your personal information is transmitted directly to Bridge for verification and transaction processing in accordance with its policies. CoolWallet does not access, store, or participate in the review or determination of your verification results.
Please carefully review the High-Risk Activity Notice. According to Bridge’s usage policies, any activities listed as high risk may result in account suspension, fund returns, or account freezing.
Once email verification is complete, you may proceed with identity verification.
You will be redirected to an external browser to complete identity verification (KYC). Please click Accept to agree to the terms of service and begin the verification process. Identity verification is typically completed within 24 hours.
After verification is approved, the status will change from Verifying to Identity Verification is complete, and you will be able to add a receiving bank account.
Step 3. Add and select a receiving bank account
Before adding a bank account, please review the following requirements:
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Currently, only conversion to U.S. dollars (USD) is supported
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Withdrawals are only supported to bank accounts registered in the United States
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Bank eligibility and related processing are determined and handled independently by Bridge
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Once added, the bank account will remain listed on the page and cannot be removed by the user.
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The same bank account cannot be added more than once under the same Bridge account.
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Per Bridge’s policies, if a bank account has a prior return record, it may be disabled and cannot be used again.
Click Start withdrawal to add a bank account.
Enter your bank account details, then click Confirm.
Step 4. Send crypto and receive USD
Follow the steps below to complete the blockchain transfer. The funds will be automatically converted to USD and deposited directly into your selected U.S. bank account. No additional identity verification or bank account entry is required.
- Select the receiving bank account
- Choose the crypto and amount
- Complete the transaction signing and send the tokens
Please note that the entire withdrawal process typically takes 1 to 3 business days to complete.
You can check the transaction status by clicking Recent History. However, the record may not appear immediately after the sending transaction is completed and may take a few minutes to update.
About Bridge
Bridge is a U.S. fintech company focused on compliant fiat-to-crypto conversion solutions. It was acquired by Stripe in 2024. Bridge operates in multiple countries, adheres to international financial regulations, and provides secure and transparent payment infrastructure for individuals and businesses.
Through CoolWallet’s integration with Bridge, you can convert USD and EUR to crypto via a rigorously vetted, compliant channel that helps keep your funds safe.
FAQs
Q1. Why did my KYC fail?
The most common reasons are unsupported documents, mismatched information, or unclear images. Make sure your document is on the supported list and your name matches your bank account information. KYC data is submitted directly to Bridge for review. CoolWallet does not access or store personal data and does not make verification decisions.
Q2. I’ve used Fiat Deposit before. Do I need to register a Bridge account again?
No. If you previously completed Bridge account registration and identity verification (KYC) during Fiat Deposit, you can proceed directly to add a receiving bank account and use Fiat Withdrawal. No re-registration or re-verification is required.
Q3. I passed KYC. Why can’t I complete the transfer?
Please confirm that the bank account you entered meets the withdrawal requirements. For example, the account must be registered with a bank located in the United States. If the requirements are not met, the transaction may be rejected or the funds returned.
Q4. Does CoolWallet keep or review my data?
No. KYC and transaction processing are handled by Bridge. CoolWallet does not access or store your personal data.
Q5. Why can’t I withdraw to New Taiwan Dollars (TWD)?
New Taiwan Dollars (TWD) are not currently supported by Bridge. If Bridge adds support for TWD in the future, CoolWallet will make the option available accordingly.
Q6. Which crypto are supported for Fiat Withdrawal?
Fiat Withdrawal currently supports stablecoins on major blockchain networks, including:
Arbitrum USDC, Avalanche C-Chain USDC, Base USDC, Ethereum USDC, Ethereum USDT, Optimism USDC, and Tron USDT.
Q7. I’ve successfully sent my crypto. When will I receive USD?
The withdrawal process typically takes 1 to 3 business days to complete. Actual processing time may vary depending on bank operations and compliance reviews.
Q8. Can I delete a bank account after adding it?
No. Once a bank account is added, it will remain listed in your account and cannot be deleted by the user.
Q9. Why can’t I add the same bank account again?
Within the same Bridge account, the same bank account can only be added once and cannot be added again.
Q10. Under what circumstances will a bank account be disabled?
According to Bridge’s policies, if a bank account has a record of returned withdrawals, it may be disabled and cannot be used again.
Q11. Is the Fiat Withdrawal service safe?
Yes. Every transaction must be signed through your wallet, ensuring asset security and full self-custody.
Q12. Are there any fees for using this service?
A 0.5% fee is charged for each withdrawal. According to Bridge’s policy, withdrawals made in USDT incur an additional 0.1% fee, bringing the total to 0.6%.
Example: If you transfer 10,000 USDC from your wallet and your bank does not charge any additional fees, you will receive USD equal in value to 9,950 USDC.
