How to Withdraw From Phantom Wallet: Complete Step-by-Step Guide

Learning how to withdraw from Phantom Wallet doesn’t have to feel like rocket science. I get it, though - with the networks, fees, exchange rates, and pop-ups, it can look intimidating at first. But once you understand the flow, it’s actually more manageable than it seems.

Based on my experience, the entire process is even easier when you choose the right platform and follow a proper step-by-step guide. Personally, I like using Ogvio because it’s fast, the fees are reasonable, and the overall experience just feels effortless.

Of course, Ogvio isn’t your only option. You can also withdraw through crypto exchanges, wallets, or P2P platforms, depending on your preference. I’ll break everything down for you so you don’t have to stress about how to get money out of your Phantom wallet. Just follow along and pick the method that fits your preference.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How do Cryptocurrency Exchanges Work? (Easily Explained!)

SUBSCRIBE

ON YOUTUBE

How to Withdraw From Phantom Wallet

As you’re looking to learn how to withdraw from Phantom Wallet, I’m guessing you’ve already seen how huge it’s become. Phantom Wallet has gone viral, becoming one of the most popular multichain wallets in the industry with 10M monthly active users and 850M+ total transactions (around 27 per second).

I personally like how user-friendly and innovative the platform is, especially when Phantom made crypto social with usernames, profiles, and a follow system.

If you’re trying to figure out how to take money out of Phantom Wallet, the process involves sending your tokens to another platform, converting them to fiat (USD, EUR, etc.), and then withdrawing to your bank. You’ve got several options to do this:

• Using Ogvio;
• Another crypto wallet;
• A centralized exchange;
• A P2P platform.

To make things clearer, I compared each option so you can choose the one that fits you best.

Ogvio

Ogvio is one of the easiest ways to cash out from Phantom because it lets you convert crypto to fiat quickly without needing a complex exchange. You just need to send your tokens from Phantom to Ogvio, select the payout method, and the platform handles the conversion smoothly. It’s perfect for users who want a fast, no-stress way to withdraw.

I like how flexible Ogvio is because you can choose bank transfer or send the money online to your friend using its @Tag feature. Transactions also tend to settle fast, which is ideal if you need your funds ASAP.

For small or medium withdrawals, Ogvio is especially convenient since you avoid the heavy trading fees and waiting times associated with large exchanges. It’s basically the most straightforward bridge between Phantom and your bank account.

📚 Read More: A Complete Ogvio Review

Crypto Wallet

You can also withdraw by sending your tokens from Phantom to another wallet that supports off-ramping, such as Ledger, OKX Wallet, and Binance Web3 Wallet. Ledger wallets like Ledger Flex or Nano Gen5, specifically, provide built-in services that let you sell crypto for fiat directly in the app using a third party.

Using Ledger is especially appealing if you value security. You can move your Phantom assets to Ledger and store them offline or use integrated partners to cash out safely.

Just note that fees can vary depending on the service partner, and availability depends on your region. But if you prefer a “wallet-to-wallet” flow while maintaining top security with a hardware wallet, this method keeps things clean and safe.

📚 Read More: Best Cryptocurrency Wallets

Crypto Exchange

Sending your tokens from Phantom to a centralized exchange may be the most common method. Platforms like Binance, Bybit, and Kraken let you swap tokens for fiat and withdraw directly to your bank. They typically offer deep liquidity and multiple cash-out options.

I think exchanges are more suitable when you’re withdrawing larger amounts because the spreads are generally lower. You also get access to advanced trading tools if you want to convert your tokens before selling. This makes exchanges reliable for those who withdraw money regularly.

The drawback is the extra steps: you’ll need an account, identity verification, and sometimes a waiting period. Beginners may also find the features quite confusing. So, while it’s one of the most affordable methods, it’s not always the fastest and simplest, especially if you’re in a hurry.

📚 Read More: Best Crypto Exchanges

P2P Platform

P2P platforms let you sell your crypto directly to another user for fiat. Popular options like Binance P2P or OKX P2P support various payment methods, including bank transfers, e-wallets, and local payment apps. It’s a flexible approach for people in regions where traditional withdrawals aren’t available.

Sometimes you even get better rates than on exchanges because buyers compete with each other. This makes P2P ideal for maximizing value or withdrawing in countries with strict banking limits.

My key takeaway is to stay safe because P2P platforms are often the "go-to place" for scams.^[1] Always follow platform rules, chat only inside the app, and release crypto only after confirming the payment. When used properly, P2P is one of the most accessible and user-friendly withdrawal methods worldwide.

📚 Read More: Best P2P Platforms

To help you decide on one "perfect" method for you, check the table below:

Table: Comparison of Phantom withdrawal methods

When you want to know how to get money from Phantom Wallet, understand that every platform comes with its pros and cons. Choose what fits your priorities, such as maximum security, lowest fees, or flexibility.

The Most Liked Findings

Looking for more in-depth information on related topics? We have gathered similar articles for you to spare your time. Take a look!

Cryptocurrencies

How to Withdraw Money from Sweatcoin: A Full Guide

Exchanges

Best Crypto to Buy on Kraken: From Bitcoin to Meme and AI Coins

Cryptocurrencies

Is Kraken Safe? A Thorough Analysis

Step-by-Step Withdrawal Process

Now that you know the basics on how to withdraw money from Phantom Wallet, let’s walk through the actual process with different methods: using Ogvio, sending to a crypto exchange, withdrawing through another crypto wallet, or selling via a P2P platform.

Each option works differently, so I broke down the steps for all four, so you can pick the method that fits your budget, speed needs, and comfort level.

How to Withdraw From Phantom Wallet to Ogvio

If you want the fastest and simplest way on how to withdraw from Phantom Wallet, Ogvio is one of the easiest options. You just convert your crypto to USDC on Base, send it to your Ogvio wallet, and cash out to your bank. Here’s the full step-by-step guide so you don’t miss anything:

Ogvio should show the estimated arrival time. In my experience, even when it says up to 6 hours, the money usually arrives almost instantly.

How to Withdraw From Phantom Wallet to a Crypto Wallet

If you want an extra-secure way when learning how to withdraw money from Phantom Wallet, you can connect your Ledger hardware wallet and cash out through Ledger Live. Here’s the simplified process:

I know this might not be the quickest or cheapest withdrawal method out there, but if you already have Ledger and you trust its safety, then this workflow has you covered.

How to Withdraw From Phantom Wallet to a Crypto Exchange

How do you withdraw money from Phantom Wallet if you want the globally supported option with generally fair fees? Using a crypto exchange is usually the answer. The spreads are often competitive, you get plenty of flexibility with which asset you want to transfer, and you can cash out into a wide range of fiat currencies.

Just make sure you’re using a major exchange like Binance, where liquidity is high, and withdrawal methods are reliable.

KYC is required on all regulated exchanges, and doing it early saves you time later when you’re ready to withdraw. Follow these steps to cash out smoothly on Binance:

You can also sell your crypto directly through the [Buy Crypto] section or by hitting the [Sell] button in your Wallet. These methods are definitely more convenient than navigating the trading dashboard. However, they usually come with higher fees. If convenience matters more to you than costs, feel free to use them.

How to Withdraw From Phantom Wallet to a P2P Platform

There’s another way on how to withdraw funds from Phantom Wallet in an affordable way: using a P2P platform. One of the most popular options is Binance P2P. It’s fast, flexible, and often comes with zero trading fees depending on your region.

Let’s say you’ve already gotten your account verified and sent your crypto from Phantom to Binance (check the previous section if you haven't done it yet). Now you’re ready to convert that balance into cash by selling through P2P. Here’s how to do it:

You have now finished learning how to take money out of Phantom Wallet via Binance P2P. The cash should already be in your bank account.

What to Watch Out For When Withdrawing From Phantom Wallet

How do you withdraw money from Phantom Wallet safely? My answer is to check these few important things: security, fees, and network compatibility. Let me explain each of the aspects below.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How to Store NFTs in 2023 (3 Most Secure Ways Explained)

SUBSCRIBE

ON YOUTUBE

Network and Token Compatibility

One of the biggest mistakes when learning how to get money from Phantom Wallet is mixing up networks or token types. For example, if you have USDC on one blockchain (say Solana or Ethereum) and you send it over to an exchange, wallet, or platform that doesn’t support that network, this mistake can lock up or even permanently lose your funds.^[2]

So, before you hit “send”, always double-check two things:

• the token type (USDT, USDC, or something else);
• the blockchain network (ERC-20, Solana, BNB, etc).

It’s usually safest to confirm on the receiving platform which networks are supported. You can look for a “Supported Networks” list on the receiving platform or click [Deposit] or [Receive] on the exchange or wallet, since they usually display a dropdown.

If you don’t see a list immediately, check the platform’s FAQ or support articles. They often have a “Deposit/Withdrawal Networks” section explaining exactly which networks they accept

Timing, Exchange Rate, and Fees

When you’re planning to cash out crypto, the timing really matters. Crypto prices are volatile; if you sell during a dip, you may convert your tokens into way less fiat than you hoped. Moreover, keep in mind that fiat exchange rates may change while your withdrawal is processing, especially if you’re converting to a currency that fluctuates against the USD or another reserve.

That’s why Ogvio pegs your transfer to USD or EUR at the moment you initiate the transaction. This gives you a more predictable outcome, stabilizes your expected payout, and protects you from sudden market swings during the withdrawal.

Beyond the price, withdrawing crypto involves multiple fees:

All of these can eat into the amount you get in your bank account. Generally, blockchain network conditions also affect the cost. When a network is congested (lots of transactions happening), gas or transaction fees tend to increase, so withdrawals become more expensive and sometimes slower.

Moreover, if you frequently withdraw small amounts, the fees can stack up quickly. Therefore, I suggest that you gather withdrawals into fewer, larger transactions. That cuts down on the total number of fees you pay, and can reduce total fee percentages.

Additionally, consider waiting for a good market moment and a “less busy” network activity to get more value if you’re not in a rush. Check if the chosen time has lower network congestion. Network fees fluctuate; withdrawing during off-peak hours definitely would make a huge difference.

📚 Read More: How to Transfer Crypto to Bank Account

Exchange and Bank Withdrawal Limitations or Delays

Even after you successfully convert crypto to fiat, actually getting money into your bank account can take time. Exchanges may batch withdrawals, require additional verification, or have delayed processing, especially for larger withdrawals.

If you’re using a country or bank with strict KYC or banking regulations, withdrawals may be slower or may require extra steps (e.g. small deposit for verification). That means you should plan ahead – let’s not expect instant transfers every time.

Also, don’t forget that bank holidays or weekends can add delays. If you know you’ll need the money by a certain date (rent, bills, etc.), give yourself buffer time and avoid last-minute withdrawals.

In my experience, even though Ogvio states that transfers may take up to 6 hours (which is already much faster than most exchanges or traditional money transfer services that can take days), the payout often arrives instantly. Six hours is impressive, but getting the money within seconds was even better (and apparently possible with the right platform).

Pros

• User-friendly design
• Robust security
• Long battery life

$90 BTC BONUS

Pros

• Dual auditable Secure Element chips
• Quantum-resistant protection
• Water and dust resistant

40% OFF

Pros

• Transaction Check feature
• Direct dApps connection
• Great middle-ground price

See All Coupons of Best Wallets

Security and Proper Recipient Address

Crypto transfers are irreversible. If you send to the wrong wallet address (or mistype a character), there’s no “Undo” button. You lose those funds forever.

Therefore, always copy-paste addresses instead of typing them manually. After pasting, verify the first and last few characters. Even better, use QR codes if supported to avoid manual errors. Some platforms even highlight network mismatches or warn you when you're sending on the wrong chain, which is a great feature to prevent expensive mistakes.

This is why choosing secure, reputable platforms is crucial when learning how to withdraw from Phantom Wallet. Generally, the “green flags” of a secure platform include:

• Clear network prompts (e.g., warns you if you’re sending SOL to an SPL-incompatible address).
• Address verification pop-ups that make you confirm the destination before sending.
• Built-in scam/phishing alerts when an address is flagged as risky.
• Native QR code support for receiving and sending crypto safely.
• Multi-factor authentication (MFA).
• Open security audits or public audit history from reputable firms.
• 24/7 human support, especially important if a transaction gets stuck.
• Transparent fee breakdowns so nothing “mysterious” happens during withdrawal.

The platforms mentioned in my step-by-step guides above already check most (if not all) of these green flags, so you’re in safe hands as long as you follow the steps carefully.

The Most Trending Findings

Browse our collection of the most thorough Crypto Exchange related articles, guides & tutorials. Always be in the know & make informed decisions!

NFTs

What are Reddit Collectible Avatars, and Why Should You Care?

NFTs

6 Effective NFT Marketing Strategies to Boost Your Digital Art Sales

NFTs

Should You Get a Polygon Domain in 2025?

Conclusions

Now, after reading the article, understanding how to withdraw from Phantom Wallet isn’t so scary anymore, right? Once you get the basics, such as networks, timing, fees, and how to spot legit platforms, you’re honestly set for life.

In general, if you prioritize maximum safety, go with a hardware wallet like Ledger. If you want something cheaper and more flexible, a crypto exchange or P2P platform usually does the job perfectly.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. J. F. Prados-Castillo, J. A.Torrecilla-García, G. Andraz , J. M. G. Martínez: 'Blockchain in Peer-to-Peer Platforms: Enhancing Sustainability and Customer Experience in Tourism';

2. K. Park: 'Proposal of Decentralized P2P Service Model for Transfer between Blockchain-Based Heterogeneous Cryptocurrencies and CBDCs'.