Getting $500 back to the bank
Selling the coins is one step. Moving the dollars to your bank is another, and its price depends on the payment rail you pick. On November 8, 2026, the fee pages of three exchanges priced a $500 withdrawal this way.
| Exchange | ACH, $500 | Wire, $500 |
|---|---|---|
| Kraken | Free | $4 by FedWire |
| Gemini | Free | $25 by USD wire |
| Bitstamp | Free | $25 by international wire (0.1%, $25 minimum) |
Speed costs extra. Kraken’s cash withdrawal page, updated November 4, 2026, prices its near-instant RTP transfer at 1.50% with a $50 cap, which is $7.50 on $500, while a free ACH withdrawal takes 0 to 2 business days with a 2pm EST cutoff.
Gemini’s transfer fee schedule and Bitstamp’s fee schedule list ACH withdrawals as free. In euros the gap is smaller, 1 EUR per SEPA withdrawal at Kraken (0.90 EUR through ClearJunction’s Instant SEPA) against 3.00 EUR at Bitstamp.
Routes that are closed, and money that waits
Can you cash out to a debit card? Not at Kraken. The same page says cash, checks, credit and debit cards and third-party payment processors are not possible withdrawal routes, though MoneyGram cash pickup is free in select countries and typically arrives within ten minutes of an accepted quote.
Timing catches people out too. Coins bought by card through an on-ramp at Kraken sit behind a temporary 72-hour withdrawal hold, and dollars deposited by ACH through Plaid are locked for seven days, with the hold covering crypto and cash withdrawals alike.
Kraken adds that its processing times “are estimates only and are outside of Kraken’s control.” The free ACH line covers the transfer and nothing else, since the sale before it carries its own trading fee or spread.
The tax line in the US
For federal tax, digital assets “are considered property, not currency,” the IRS digital assets page says, last reviewed September 2, 2026. The yes-or-no question on Form 1040 asks whether you sold, exchanged or otherwise disposed of a digital asset during the year.
A purchase made with dollars and never sold is answered No, while a sale through an off-ramp is answered Yes, and the IRS says transactions must be reported “whether or not they result in a taxable gain or loss.”
Brokers report it too. According to the same page, they report gross proceeds on Form 1099-DA for transactions on or after January 1, 2025, and basis on certain transactions from January 1, 2026, so the gain on a cash-out is the proceeds minus your cost basis. Stablecoin sales count as well, although the IRS lets brokers report certain stablecoin sales in aggregate above a de minimis threshold.