In this post, you’ll learn how to withdraw from Trust Wallet to your bank account.
Trust Wallet allows you to keep and store your favorite cryptos easily.
However, sometimes you might need to withdraw your cryptos to your bank account in order to actually cash out.
We’ll cover everything you need to know to actually get your gains.
Basically, you’ll need to follow these 4 easy steps to withdraw from Trust Wallet to your bank account:
- Convert your cryptos into Smart Chain
- Send your Smart Chain to a crypto exchange like Binance
- Convert your token into a fiat on Binance
- Withdraw to your bank account
What is Trust Wallet?
Trust Wallet is probably one of the most well-known digital asset custody apps, at least on mobile.
Unlike Metamask, the Trust Wallet app is a wallet for your crypto-currencies that is multicoin. This means that it supports the main blockchains of the Ethereum ecosystem, but also derivative tokens like ERC20, BEP2 and ERC721.
It also allows the storage of crypto-currencies such as Bitcoin, Litecoin and Dogecoin as well as all digital assets based on the Binance Smart Chain.
Thus, Trust Wallet allows you to always have on you, i.e. on your smartphone, a quick and easy access to your crypto-currencies.
But as you can imagine, Trust Wallet goes even further since it allows you to connect to Web3, i.e. to decentralized applications based on the blockchain such as PancakeSwap. So it goes far beyond the secure crypto wallet.
It allows to keep NFTs and to connect to any kind of DeFi DApps platforms or blockchain games.
Like all wallets, Trust Wallet doesn’t actually keep the tokens but rather the private key secure, which gives you the right to intermingle with your digital assets, transfer them, sell them, store them…etc
How to withdraw from Trust Wallet to bank account?
To actually withdraw your crypto gains into your bank account, you’ll learn to follow the following steps.
To transfer funds from Trust Wallet to your bank account, you must first exchange the token for BNB or Ethereum.
Then transmit the BNB or Ethereum to a well-known exchange such as Binance.
If you don’t have one yet, you can create an account on Binance for free.
Binance offers over 60 fiat currencies, making it the best cryptocurrency exchange for cashing out your coins.
You may sell them for fiat currencies like USD, AUD, GBP, and others after sending them to Binance.
Finally, the fiat cash may be withdrawn to your bank account.
This may be done by navigating to the withdrawal page and choosing a payment option.
Then, input the amount you’d want to transfer to your bank account.
Convert your tokens into BNB on Trust Wallet
The first step you need to take here is to convert your cryptos into BNB.
This step is mandatory to be able to send your tokens on Binance.
Note that you can also convert your tokens into Smart chain to send it to Binance.
To convert your crypto into BNB on Trust Wallet, simply go to Trust Wallet and convert all your cryptos.
Send your BNB from Trust Wallet to Binance
Now, you should have your cryptos converted into BNB.
To actually send your BNB to Binance, you’ll learn to get the BNB Wallet deposit address from your Binance account.
To get the address:
- Go to Binance
- Tap on Wallet
- Tap on Spot (portfolio)
- Tap on Deposit then BNB
- Finally, select BEP20 (BSC)
- Copy your Wallet address
Once you got the wallet address copied, follow these steps to send your BNB to Binance:
- Open Trust Wallet
- Go to BNB or (Smart chain)
- Tap on Send
- Paste your BNB wallet address copied from Binance into “Recipient address”
- Select the amount you want to send
- Click on Continue
- Tap on Send
That’s it! Your tokens will be transferred to Binance. Note that, it can take a few minutes for your BNBs to appear on Binance.
Withdraw from Binance to your bank account
At this step of the process, your BNB tokens are now available on Binance.
To check how many BNB you have, go to Binance Wallet, click on Fiat, and spot.
The next step consists in converting your BNB tokens into USD or Euros or into your local fiat.
To do so, navigate to this page, choose BNB and select your local fiat.
Once your BNB tokens are converted to your local fiat, the last step is to actually withdraw your money from Binance to your bank account.
Follow these steps to withdraw fiat from Binance to your bank account:
- Go to your Fiat and spot wallet on Binance
- Click on withdraw
- Select your fiat and the payment method (card or bank transfer)
- Click on Continue and validate the transaction
That’s it! You should receive your payment within a few days into your bank account.
Note that Binance can take a commission (1% for card payment e.g) on your withdrawal.
At this step, you should have successfully withdrawn your money from Trust Wallet to your bank account.
How to convert cryptocurrencies into fiat easily
You’ll need to use exchanges to transfer your cryptocurrencies into your country’s fiat money.
Varying exchanges provide different conversion circumstances, and your choice of exchange is entirely determined by your country’s legislation.
To do so, input the destination wallet address, which is the same as the wallet address displayed in the exchange account, so that the cryptocurrency may be moved from Trust wallet to your exchange account, and then converted into your country’s currency and deposited into your bank account.