CoinStats does not hold your money — you cannot transfer directly from the app to a bank account
CoinStats is a portfolio tracker, not a wallet or exchange. It shows you the value of cryptocurrency you own elsewhere, but it does not store coins or connect to your bank. To move money to your bank account, you must first sell your cryptocurrency on the exchange where you actually hold it — Coinbase, Kraken, Binance, or wherever your coins live — then withdraw the cash from that exchange to your bank.
The confusion happens because CoinStats displays all your holdings in one place. It pulls data from your exchange accounts through read-only connections, but it never touches the actual coins or money. Think of it as a dashboard that watches your accounts without controlling them.
If you have already connected your exchange accounts to CoinStats, you still need to go back to the original exchange to sell and withdraw. CoinStats cannot initiate transactions on your behalf.
Key Takeaways
- CoinStats is a tracking app only — it cannot hold, sell, or transfer cryptocurrency or money.
- You must sell your coins on the exchange where you own them, not through CoinStats.
- After selling on the exchange, you withdraw the cash to your bank using that exchange's withdrawal feature.
- The entire process — from sale to bank deposit — typically takes one to five business days depending on your bank and the exchange.
- You will owe capital gains tax on any profit when you sell, so keep records of your purchase price and sale date.
The actual steps: sell on your exchange, then withdraw to your bank
Open the exchange where your cryptocurrency actually lives. This is the account you connected to CoinStats, or where you originally bought the coins. Common exchanges include Coinbase, Kraken, Binance, Gemini, and Kraken.
On that exchange, find the coin you want to sell. Select "Sell" or "Trade" — the exact wording varies by exchange. Enter the amount you want to sell and confirm the transaction. The exchange will convert your cryptocurrency to US dollars (or your local currency) and add that cash to your exchange account balance.
Once the sale is complete, look for a "Withdraw" or "Transfer" button. You will need to add your bank account as a withdrawal destination if you have not already. This requires your bank's routing number and your account number. You can find both on a check or by logging into your bank's website.
Enter the amount you want to withdraw and confirm. The exchange will send the money to your bank using ACH transfer, which is the standard electronic method. Most exchanges do not charge a fee for ACH withdrawals, though some may charge a small amount.
How long the money takes to arrive
The sale itself is instant — your coins convert to cash immediately on the exchange. The withdrawal to your bank takes longer because ACH transfers are not real-time.
Most exchanges process withdrawal requests within one business day. Your bank then receives the transfer and deposits it into your account, which usually takes another one to three business days. In total, expect the money to land in your bank account within two to five business days from the time you request the withdrawal.
Some banks are faster than others. If your bank participates in faster ACH networks, the deposit may arrive within one business day. If you withdraw on a Friday, the clock does not start until Monday, so weekend timing can add days.
If you need the money faster, some exchanges offer wire transfers instead of ACH. Wire transfers arrive the same day or next business day but usually cost $15 to $25 per transaction.
What happens if you connected your bank to CoinStats
CoinStats can read your bank balance if you gave it permission, but this is a one-way connection. It lets the app see how much money you have in your bank account so it can calculate your total net worth across crypto and cash. It does not let CoinStats move money out of your bank or into it.
If you are looking at your bank balance displayed in CoinStats and wondering if you can push money from there to your exchange, you cannot. The connection is read-only. You would need to transfer money from your bank to your exchange using your bank's own transfer tools or the exchange's deposit feature.
Tax records you need to keep
When you sell cryptocurrency, you trigger a taxable event. The IRS treats this as a capital gain or loss. You owe tax on the difference between what you paid for the coin and what you sold it for.
Before you sell, write down the purchase price and the date you bought the coin. When you sell, note the sale price and the date. CoinStats can help you track this — it shows your cost basis if you set it up correctly — but you should also keep your own records from the exchange.
At tax time, you will report these transactions on Form 8949 (Sales of Capital Assets) and Schedule D. If you sold more than a small amount, you may want to consult a tax professional, especially if you made multiple trades throughout the year.
What to do if the withdrawal gets stuck
If your money has not arrived after five business days, log into your exchange account and check the withdrawal status. Most exchanges show whether the transfer is pending, processing, or completed. If it shows completed on the exchange side but has not hit your bank, contact your bank's customer service with the transaction details.
Provide your bank with the date of the transfer, the amount, and the ACH trace number if the exchange provided one. Your bank can look up the transfer on their end and tell you whether it arrived or if there was a problem. If the transfer was rejected, the money usually returns to your exchange account within a few business days.
If the exchange shows the withdrawal is still pending after a week, contact the exchange's support team. Provide them with a screenshot of the pending withdrawal and ask them to investigate. Most exchanges resolve stuck transfers within 24 to 48 hours.
Frequently Asked Questions
Can I transfer money directly from CoinStats to my bank?
No. CoinStats only tracks your holdings — it cannot move money or cryptocurrency. You must sell your coins on the exchange where you own them, then withdraw the cash to your bank from that exchange.
What if I do not remember which exchange I use?
Open CoinStats and look at which exchanges are connected to your account. The app shows a list of linked exchanges under your settings or portfolio section. If you still cannot find it, check your email for transaction confirmations from when you bought the coins — they will show which exchange you used.
Do I have to pay a fee to withdraw to my bank?
Most exchanges do not charge for ACH withdrawals to your bank. Some charge a small fee ($1 to $5), and wire transfers cost more ($15 to $25). Check your exchange's fee schedule before you withdraw to see what applies to your account.
What if my bank rejects the ACH transfer?
This usually happens if the routing number or account number was entered incorrectly. The money returns to your exchange account within a few business days. Verify your bank details and try again, or contact your bank to confirm the correct routing number.
Can I withdraw to a bank account in a different name?
No. Most exchanges require the bank account to be in the same name as your exchange account for anti-money-laundering reasons. If the names do not match, the transfer will be rejected. You must withdraw to an account in your own name.