The process of converting cryptocurrency into traditional currency and transferring it to a bank account has never been simpler—especially with the growing integration between digital asset platforms and banking services. In Indonesia, the collaboration between Tokocrypto and OCBC has streamlined crypto withdrawals, making it faster, safer, and more accessible for everyday users.
As digital assets continue gaining popularity, more Indonesians are embracing cryptocurrency as part of their financial strategy. According to data from the Commodity Futures Trading Regulatory Agency (Bappebti), crypto transaction values surged dramatically between January and September 2024.
During this period, total crypto transaction volume reached Rp426.69 trillion, marking a staggering 531.97% increase compared to the same period in 2023. Alongside this growth, the number of active crypto users in Indonesia hit 21.28 million, including an additional 380,000 new users added in September 2024 alone.
With rising adoption comes the need for seamless off-ramping solutions—turning digital assets back into usable fiat currency. This is where platforms like Tokocrypto shine.
👉 Discover how to securely convert and transfer your crypto earnings today.
Step-by-Step Guide: Withdrawing Crypto to Your Bank Account
Tokocrypto, recognized as Indonesia’s top licensed crypto exchange under the Physical Cryptocurrency Asset Merchant (PFAK) category, offers a user-friendly withdrawal system that allows investors to cash out directly to their local bank accounts.
However, there are two essential prerequisites:
- The name on your bank account must match the name registered on your Tokocrypto account.
- Funds must be converted into Indonesian Rupiah (IDR) before withdrawal.
This means if you hold assets like USDT, BTC, or any other cryptocurrency, you must first sell them for IDR within the app before initiating a withdrawal.
Converting USDT to IDR: A Quick Example
Let’s say you want to cash out your USDT holdings. Here’s how to convert them into IDR:
- Open and log in to the Tokocrypto app
- Tap on “Market” or the search icon
- Search for the USDT/IDR trading pair
- Click “Sell” and choose either market or limit order
- Enter the amount of USDT you wish to sell
- Confirm the transaction
Once completed, your USDT will be converted into IDR and reflected in your wallet balance.
Withdrawing IDR to Your Bank Account
Now that your balance is in IDR, follow these steps to withdraw:
- Go to Withdrawal Menu: Navigate to the withdrawal section and select “IDR” from your wallet options.
- Add Bank Account: If not already linked, click “Add Account,” then enter your bank name and correct account number.
- Verify Details: Double-check all information—especially the account number—for accuracy before confirming.
- Select Bank: Choose the linked bank account you’d like to receive funds.
- Enter Amount: Input the IDR amount you wish to withdraw.
- Complete Security Verification: Confirm via two-factor authentication or other required security steps.
- Finalize Withdrawal: Once processed, funds are typically transferred quickly to your bank account.
This entire process is designed for efficiency and security, ensuring users can access their funds without unnecessary delays.
Why OCBC Is a Crypto-Friendly Banking Partner
Using OCBC Indonesia as your banking partner enhances the overall crypto experience—especially when integrated with Tokocrypto. The strategic partnership has led to the launch of the OCBC x Tokocrypto Co-Branded Global Debit Card, a powerful financial tool tailored for digital-savvy users.
Chinni Yanti Tjhin, Retail Proposition Division Head at OCBC, emphasized that this initiative targets younger generations and Web2/Web3 communities by offering modern financial benefits.
“The Global Debit Tokocrypto Card enables customers to live a trendy lifestyle while staying financially fit as smart spenders,” she said. “It supports multi-currency transactions across 12 major currencies in one account, eliminating foreign exchange conversion hassles.”
👉 Learn how top traders manage their crypto-to-fiat transitions efficiently.
Features of the Global Debit Tokocrypto Card
The Global Debit Tokocrypto Card, powered by Mastercard, Cirrus, and Maestro networks, allows seamless spending and cash withdrawals worldwide. Key features include:
- Contactless payments for quick taps at stores or transit systems abroad
- Multi-currency support: Hold and spend in 12 currencies—IDR, USD, AUD, SGD, JPY, EUR, HKD, CHF, NZD, CAD, GBP, and CNH—all from one account
- No foreign exchange fees on transactions involving these 12 currencies
- Free ATM withdrawals at OCBC networks in Singapore, Malaysia, and Hong Kong
- Extensive global ATM access via Mastercard’s international network
This card bridges the gap between digital assets and real-world spending—ideal for travelers, freelancers earning in foreign currencies, or anyone managing cross-border finances.
Exclusive Cashback Promotions
To encourage adoption, OCBC and Tokocrypto launched a special campaign: "Kasih Cashback Anti Holdback" (Cashback Giveaway – No More Holding Back). Running from November 19, 2024, to April 30, 2025, eligible cardholders can earn rewards through simple actions:
- Up to Rp475,000 cashback for transactions at offline merchants, Tokocrypto app top-ups, or subscriptions with partner merchants
- Rp100,000 cashback for opening Nyala OCBC via Tokocrypto App with a minimum balance of Rp1 million
- 5% cashback on wallet top-ups made from an OCBC account
- 5% cashback on recurring payments (minimum Rp100,000) using the Global Debit Card at selected OCBC merchants
Users also enjoy full control via the OCBC Mobile app, where they can set daily spending limits and manage their card settings instantly.
Frequently Asked Questions (FAQ)
Can I withdraw crypto directly to my bank account?
No. You must first convert your cryptocurrency into IDR within the exchange platform (like Tokocrypto) before initiating a bank transfer.
Is there a fee for withdrawing crypto to my bank?
Withdrawal fees may apply depending on the platform. Tokocrypto typically discloses fees during the transaction process. Always review fee details before confirming.
How long does it take for funds to arrive in my bank account?
Most withdrawals are processed instantly or within a few hours during business days. Processing times may vary slightly based on bank systems.
Can I use any bank account for crypto withdrawals?
Only bank accounts with names matching your verified identity on the exchange are accepted. Mismatched details will result in failed transactions.
What happens if I send crypto to the wrong address?
Crypto transactions are irreversible. Always double-check wallet addresses and bank details before confirming any transfer.
Is the Global Debit Tokocrypto Card available to everyone?
The card is available to eligible OCBC customers who meet application requirements and complete necessary verifications.
By combining trusted banking infrastructure with innovative fintech solutions, converting crypto to fiat has become more intuitive than ever. Whether you're cashing out profits or managing international expenses, tools like Tokocrypto and OCBC’s Global Debit Card empower users with flexibility, speed, and financial control.
👉 Start optimizing your crypto liquidity strategy now—see what’s possible.