Cryptocurrency is not going anywhere anytime soon, and the world is slowly opening up to the idea that it is the next big thing in e-Commerce. However, trading cryptocurrency and turning it into money you can withdraw is sometimes a hurdle. How to withdraw from a Trust Wallet is easy when you follow the steps below.
Trust Wallet is among the best, if not the best, decentralized platforms to store your cryptocurrency. The Trust Wallet offers quality services because it incorporates a broad blockchain suite and other services. The comprehensive blockchain services include: purchasing any cryptocurrency (through Fiat onramps), storing NFTs, exchanging assets, and earning cryptocurrency through staking. The article below covers how to withdraw from Trust Wallet.
Can you withdraw from Trust Wallet into a bank account?
The purpose of Trust Wallet is to store your tokens and effectively manage your token balance. It is impossible to withdraw tokens on your Trust Wallet directly into your bank account. It is also impossible to deposit cryptocurrency money from your bank account directly to your Trust Wallet account. However, there is a workaround procedure you can use to transact tokens from your Trust Wallet into your bank account.
Procedure for withdrawing tokens
It is possible to withdraw tokens from your trust Wallet into your bank account if you use intermediary exchanges. The procedure also involves depositing Fiat money to other websites. You can follow the procedure below to withdraw your tokens from Trust Wallet into your bank account.
Step 1: Exchanging your coins for a stable and trusted cryptocurrency
Many decentralized cryptocurrencies pop up on the internet every day. Having currencies emerge on the internet frequently makes it hard to transact cryptocurrency. However, you can exchange your crypto coin with a stable and trusted cryptocurrency like Bitcoin or Ethereum. You can use converters like PancakeSwap to convert your crypto token to a popular currency recognized by most crypto exchanges. You can get PankaceSwap by using the DApp browser on Trust Wallet.
Step 2: Transferring your converted tokens from Trust Wallet to a centralized exchange
The second step is forwarding your BNB token to a trusted exchange with a central depository. You can follow the steps below to transfer your converted tokens from Trust Wallet to currency exchange.
Step 1: Create a Coinbase or Binance account before you can forward your tokens. It is recommended you use Binance because of its simple conversion process. You can use your Email or mobile number to create a Binance account.
Step 2: Go to your Trust Wallet app before tapping on the Send option.
Step 3: Copy and paste the recipient's address where you want to transfer your BNB coins to your BNB wallet or Binance.
Step 4: Ensure you check the transaction fee deduction before proceeding to the next step.
Step 5: Ensure the recipient's address is correct before sending the BNB coins.
Step 3: Withdrawing your coins to your bank account
You can use the below options to withdraw your coins via Coinbase or Binance.
Option 1: Withdrawing Fiat money via Coinbase exchange
You can use the method below to complete the withdrawal process using Coinbase.
Step 1: Ensure you transfer your ETH or USDT capitals to your Coinbase account.
Step 2: Go to your Coinbase account and select the Settings option.
Step 3: Select the Payment methods section before selecting the Add a payment method option.
Step 4: Select the Bank account option as your preferred payment method before providing your bank credentials.
Step 5: Select the Sell/Buy option before you key in the amount of cryptocurrency you wish to sell.
Step 6: Select the Preview Sell option before selecting the Sell now option.
Step 7: Select the Portfolio option before pressing your local currency wallet.
Step 8: Select the Withdraw option on the right before entering the amount you want to withdraw to your bank.
Step 9: Select the Standard withdrawal section before selecting your bank account.
Step 10: Select the Continue option before picking the Cash out now option to complete the withdrawal process.
Option 2: Withdrawing your Fiat currency via Binance exchange
You can follow the steps below to withdraw your Fiat currency through the Binance exchange.
Step 1: Log in to your Binance account before clicking on the Wallet option at the top right corner of your screen.
Step 2: Click on the Fiat and Spot option. A list with all your available Fiat currencies will appear on your screen.
Step 3: Select your preferred Fiat currency before entering USD as your preferred withdrawal currency.
Step 4: Click on the Withdraw button on the right side of your screen.
Step 5: Wait for the Bank Transfer (SWIFT) option to auto-populate before clicking on the Continue button.
Step 6: Enter the amount you want to withdraw before clicking on the Continue button.
Step 7: Enter your bank account details before clicking on the Continue button.
Step 8: Click on the Confirm button to complete the withdrawal process.