A cryptocurrency software wallet called Trust Wallet allows users to purchase, sell, and swap coins in addition to supporting a variety of cryptocurrencies. Users can stake assets to earn interest, and it offers safe access to confidential financial information. Customers using Trust Wallet must exchange their tokens for Bitcoin or Ethereum, send them to a cryptocurrency exchange such as Binance, sell them for fiat money, and then take out the fiat money from the exchange into their bank account. In addition to peer-to-peer options where users can exchange cryptocurrency for cash without incurring fees, withdrawal fees may apply.
How to withdraw funds from Trust Wallet
Step 1: Convert Crypto Assets in Trust Wallet
Initiate by swapping your crypto assets for prominent cryptocurrencies like Bitcoin or Ethereum in Trust Wallet. To achieve this, convert your tokens into Smart Chain.
Step 2: Create and Navigate a Binance Account
Register on a reputed cryptocurrency exchange such as Binance. It’s essential to select an exchange that enables selling crypto for fiat. Given its support for over 60 fiat currencies and versatile payment options, Binance remains a top choice.
Once logged in, proceed to the dashboard and click “Wallet”, then “Fiat and Spot” for accessing your wallet.
Locate and select the cryptocurrency to transfer from Trust Wallet, e.g., Bitcoin, and hit “Deposit”.
Make sure to copy the deposit address for your chosen cryptocurrency on Binance. This address will be needed to transfer funds from Trust Wallet.
Step 3: Moving Funds to Binance from Trust Wallet
In order to access the Smart Chain page, open Trust Wallet.
Click or tap the cryptocurrency of your choice (e.g., Ethereum). Options like “Send,” “Receive,” “Copy,” and so forth will be visible.
Click “Send” to transfer assets from Trust Wallet to Binance. In the “Recipient Address” field, enter the Binance deposit address (from Step 2).
Indicate the sum and make sure. Typically, transfers take 30 to 60 minutes to finish.
Step 4: Use Binance to liquidate your cryptocurrency
Go to Binance’s “Buy and Sell Cryptocurrency” section.
Decide which cryptocurrency to sell and how much.
Select the fiat currency you want to use for your earnings.
Step 5: Withdrawing Fiat from Binance to Bank
From the Binance dashboard, visit “Wallet” and then “Fiat and Spot”. Choose “Withdraw” and subsequently “Withdraw Fiat”.
Select your desired fiat currency and preferred withdrawal method – options like “Bank Transfer (SEPA)”, “Bank Card (Visa)”, and “Silvergate Bank (SWIFT)” are generally available.
Enter the amount and target bank account details.
Upon confirming, the withdrawal should process in 30 to 60 minutes.