How to Withdraw From Trust Wallet To Bank Account

 

Trust Wallet users often choose this decentralized wallet to take care of their coins and other crypto assets in a safe and efficient way.

There are many wallets available in the crypto world, but Trust Wallet ranks itself as one of the best ones to save, store, transfer, and manage tokens easily.

But, what happens when someone wants to convert crypto tokens to fiat currency by using Trust Wallet? Is this possible?

If you have ever wondered this, then this article is in your best interest.

Search no more - in this blog post, we’ll be talking about the following topics:

• How to withdraw from Trust Wallet to bank account;
• Things you need to do before withdrawing token from your wallet app to your bank;
• How to efficiently complete a withdrawal transaction without major problems.

Can You Directly Withdraw Money from Trust Wallet to Bank Account?

The Trust Wallet app is, for many, the number one choice when it comes to saving each token acquired from a trade or transaction.

For example, if you invest or Buy Safemoon on Trust Wallet (check our article for more details), you will want to save the token on your Trust Wallet address to properly manage your balance at your will.

But can you start a direct deposit from Trust Wallet to bank account? The answer is no, you can’t.

Each cryptocurrency you save on your Trust Wallet address can’t be directly transferred to your bank account.

However, there are some ways to swap or convert the token or coin using an exchange that will later allow you to withdraw money from Trust Wallet in a simple process.

How to Withdraw from Trust Wallet

So, as it has been stated, you can’t directly withdraw money from Trust Wallet.

In that case, if you want to enjoy your sweet cash, it is fundamental to get help from centralized exchanges.

Thus, if you want to cash out your funds, it would be necessary to start a fiat deposit transaction on another website.

We’ll show you how to do it.

1. Swap Your Tokens for a Stable Coin or a Popular Cryptocurrency

Let’s say that you decide to pay for a decentralized coin, such as Shiba Inu.

Unlike other major cryptocurrencies, such as Bitcoin and Ethereum, you can’t cash out certain coins to USD in some exchanges.

In this scenario, you need to swap the coin to a cryptocurrency that’s more widely accepted.

You can do this by using PancakeSwap directly from Trust Wallet’s DApp browser.

So, let’s say you want to convert BNB because it’s one of the most common coins.

Just go to PancakeSwap, enter the transaction details, and convert your stored tokens to BNB.

2. Send the Token from Trust Wallet to a Major Centralized Exchange

You have now swapped the token, for example, to BNB.

Now, you need to send it to a centralized crypto exchange in order to withdraw money to your bank account.

Step 1: Set Your Coinbase or Binance Account

For practical purposes, we recommend you to sign in to Binance since doing so with the BNB coin is easier.

Keep in mind that other exchanges, such as Coinbase, also allow you to sell coin, withdraw funds, and more.

In any case, create a Binance account if you don’t have one.

There, set up your BNB wallet (read this article to know how to set up your Binance Wallet Address) and continue.

Step 2: Send from Trust Wallet to the Recipient Address

Now that you have set up your address, follow these steps:

• In the Trust Wallet Application, select “Send;”
• Then, you need to send the BNB coins to the BNB wallet set up in Binance;
• Paste the recipient’s wallet address and move on.

Keep in mind that you will need to pay fees related to this transaction, so check them out before you proceed with it.

Also, be sure to use the right address.

Otherwise, you might end up losing your money.

3. Start the Withdrawal Process from the Exchange

It’s time to cash out! The only way to get your fiat money in your bank account is by using a major exchange.

Then again, we know there are many exchanges out there, but these two are the most reliable ones to achieve your goals.

Method 1: Withdraw Fiat Money from Coinbase

In case you have sent the funds to your Coinbase account (in ETH or USDT, perhaps), you just need to cash out from the exchange.

Coinbase also works to save assets or sell coins if you please.

This is a really easy process, and we have covered it all in our Withdraw From Coinbase blog post - read it for further details.

Method 2: Withdraw Fiat Currency from Binance

Instead, if you decide to use BNB as we stated in this article, just go to your Binance account and check the coins in your wallet.

There, you can “sell” BNB for USD and move it directly into your bank account.

Be sure to correctly set up the withdrawal address beforehand so you don’t end up messing up the operation.

Keep in mind that in order to withdraw money on this platform, it’s fundamental to properly verify your identity.

Learn more about this process in our Withdraw from Binance to Bank guide.

So, to summarize, the easiest way to withdraw money from Trust Wallet to your bank account is the following:

• Swap your coins in Trust Wallet to BNB or other currency;
• Send your BNB or cryptocurrency to Binance;
• Withdraw the money from Binance to your bank.

We hope you like this content!

Leave a comment if you enjoyed it.

We will consistently write the latest news regarding the crypto universe, so check GrowFollowing whenever you can.

How To Withdraw from Trust Wallet FAQ

Can You Withdraw Fiat Currency from Trust Wallet to PayPal?

You can’t withdraw money from Trust Wallet to PayPal.

Nonetheless, you can withdraw money from Coinbase to PayPal if you want.

Is Trust Wallet a Decentralized Exchange?

Trust Wallet is a wallet that operates with a DEx.

That’s why you can’t withdraw fiat currencies, so you need to use a centralized platform, such as Binance or Coinbase, to do so.

About the author

Karen

Karen is a senior technical writer and copywriter at Hypegrowth. Her area of expertize are social media apps and new media.