The Trust Wallet is a brilliant cryptocurrency wallet that accepts BEP2 and ERC20 tokens for investment. To withdraw your profits, you’ll need to know how to transfer money from a trust wallet to a bank account.
- Transfer of money from Trust Wallet to Bank account requires you to use Binance or other popular exchange platform.
- You can send money from Trust Wallet to bank account by Create Binance account > Obtain token > Transfer token to Binance > Use Binance to sell the token > Use bank account to withdraw money in your currency.
- The withdrawal process may take up to 60 minutes.
…and Much More!
How To Transfer Money From Trust Wallet To Bank Account – Step By Step Guide
Among crypto-currency enthusiasts, Trust Wallet is one of the most widely used software wallets. Its easy user interface, fast speed, and adequate protection, has helped the wallet become quite popular among other options.
When you purchase a token, it is added to your Trust Wallet. You can exchange the token for a popular cryptocurrency like BNB or Ethereum if you wish to sell it.
- You’ll need to cash it out once you’ve swapped in for BNB or Ethereum.
To transfer funds from Trust Wallet to a bank account, you must first convert the token to BNB or Ethereum. Then, using Binance or another popular exchange, send the BNB or Ethereum.
The withdrawal process may take up to 60 minutes but it should not be a problem once you have understood all the steps well. Let’s take a look at how it works!
Create a Binance Account
The first and the most important step is to ensure you have Binance account to use. Here’s how you can open one for yourself. Remember, Binance is highly recommended and it accepts credit cards, debit cards, bank transfers, and cash deposits.
- Go to Binance.com and sign up.
- You’ll be sent to the dashboard after you’ve registered an account and logged in.
Obtain Token’s Address
The next step may seem to be a bit confusing for the newbies. Don’t worry, we have simplified the procedure for you below.
- On the top navigation bar, select Wallet then Fiat and Spot.
- Locate the cryptocurrency you wish to withdraw and click Deposit.
- You’ll be directed to the wallet of the chosen cryptocurrency.
- To withdraw your cryptocurrency from Trust Wallet, you must sell it on Binance. Therefore, you will need to replicate your cryptocurrency’s Binance address.
- Choose the cryptocurrency you want to deposit in the Coin area.
- Then, copy your cryptocurrency address as well as your MEMO.
Transfer Token To Binance
You’ll need to launch Trust Wallet now that you’ve copied the address of your cryptocurrency. Send the cryptocurrency you want to payout from Trust Wallet to Binance in this step. You’ll be able to exchange the Bitcoin for fiat dollars in this manner.
- Tap the coin you would like to withdraw from Trust Wallet. You can also choose to convert the cryptocurrency you have to another one if need be.
- You will be taken to the respective wallet after tapping on the cryptocurrency you wish to payout.
- There will be various icons on the wallet including “Send,” “Receive,” “Copy,” and “More.”
- Choose to send the cryptocurrency to Binance.
- Press the Send button to send your cryptocurrency to Binance.
- Next, you will see the sending page with several fields including Recipient Address, BNB Amount, etc.
- Paste your Binance address into the Recipient Address section.
- Next, in the Quantity section, enter the amount of cryptocurrency you want to transfer to Binance.
- Then, in the Memo area, paste your MEMO and press Next.
- Confirm the withdrawal.
Use Binance To Sell The Token
You can sell your cryptocurrency on Binance after you’ve transferred it from Trust Wallet to Binance.
- Go to Binance’s Buy and Sell Cryptocurrency page.
- Choose the cryptocurrency you wish to sell from the I want to sell drop-down menu.
- Then, specify how much cryptocurrency you wish to sell.
- After that, under the You will get area, select the fiat cash you want to receive.
Use Bank Account To Withdraw Money In Your Currency
You can withdraw the fiat currency to your bank now that you’ve sold a cryptocurrency in exchange for it.
- Go to the top navigation bar on Binance and select Wallet.
- Then tap on Fiat and Spot.
- Click “Withdraw” at the top of the page and then choose Withdraw Fiat.
- Select the currency you want to deposit into your bank account,
- Choose a Payment Method such as SEPA or Bank Card (Visa).
- The next step is to submit information about your withdrawal. Enter the amount you wish to send to your bank account.
- Tap on Withdraw To and choose the bank account you wish to send the funds to.
- Complete the security verification after clicking Continue.
The funds will be transferred to your bank account in 30 to 60 minutes.
The Bottom Line
The Trust Wallet is a decentralized wallet, an innovative tool in the crypto world that allows you to use Decentralized Applications, or DApps.
Its main purpose is to make crypto more accessible by providing a user interface that is straightforward and simple to use. Moreover, you can easily transfer the funds from it to bank account to make your investment in cryptocurrency even more fruitful.
Frequently Asked Questions About Trust Wallet To Bank Account Money Transfer
How can I send funds from Trust Wallet to bank account?
You can send money from Trust Wallet to bank account by Create Binance account > Obtain token > Transfer token to Binance > Use Binance to sell the token > Use bank account to withdraw money in your currency.
Can you send money from Crypto wallet to bank account?
Yes. The transfer is possible but you have to use an exchange platform to convert crypto into currency of your choice. There might also be certain withdrawal fees involved in the process.
Jamie Johnson is very enthusiastic Kansas City – based freelance writer, and her core expertise are finance and insurance. She has been endorsed on several personal finance, insurance & business website to share her thoughts. Her publications can be found on famous sites like Bankrate, The Balance, Business Insider, Chamber of Commerce and many others.
From many years, she served more than 10,000 hours of research and writing to more than 2000 articles related to personal finance, credit building, mortgages, and personal and student loans.