How to transfer usdt from trust wallet to bank account

At a Glance: To withdraw from Trust Waller, first, swap your crypto assets to a popular cryptocurrency like Bitcoin or ETH. Then, send the Bitcoin or Ether to Binance, a popular exchange that allows you to cash out your cryptocurrencies.

So, you’ve chosen to store your crypto assets in Trust Wallet. Maybe you like how easy it is to buy crypto on Trust Wallet, or maybe you like that you can earn interest by passively staking your assets. 

Perhaps you’ve made a profit with your crypto and now you want to withdraw your profit into your bank account. But Trust Wallet doesn’t allow you to sell your assets for fiat currency. What do you do now?

You’ll need to transfer your assets from Trust Wallet to another crypto exchange. Follow the five steps below to learn how to withdraw money from Trust Wallet.

What Is Trust Wallet?

Trust Wallet is cryptocurrency software wallet software. There are many cryptocurrencies available today, and Trust Wallet supports a large number of them. It allows you to purchase, sell, and swap different coins, blockchains, and other digital assets, delivering full cryptocurrency management functionalities.

Trust Wallet helps your coins work for you by staking your assets with a flexible interest rate. The program provides you with a validated proof-of-stake certification so you can collect interest on your crypto assets. This automated feature means your cryptocurrencies will continue to earn you money on their own.

A lot of cryptocurrency exchanges make it somewhat challenging to purchase cryptocurrency. Trust Wallet, on the other hand, allows you to easily buy crypto with your credit card so you can quickly begin to trade.

Many people believe hardware wallets are the safest option, but Trust Wallet prides itself on its secure access. The program provides you with a secure access key, ensuring you’re the only person that can gain access to your sensitive financial assets.

Trust Wallet even helps you find other businesses and vendors that accept cryptocurrency for their goods and services.

This product is open-source and available completely free of charge with no transaction fees.

How to Withdraw Money from Trust Wallet

To withdraw money from Trust Wallet to your bank account, you first need to swap the token for Bitcoin or Ethereum. Then, you must send the Bitcoin or Ethereum to a popular exchange that allows you to cash out your cryptocurrencies. You can do this by selling your cryptocurrencies for fiat currencies such as USD, AUD, GBP, etc. Once you have sold your cryptocurrencies, you can withdraw the fiat currency from the crypto exchange to your bank account.

Here are 5 easy steps for how to withdraw money from Trust Wallet in more detail.

Step 1

The first step is to swap your crypto assets to a popular cryptocurrency like Bitcoin or Ethereum in your Trust Wallet account. You can do this by converting all your tokens or coins into Smart Chain on Trust Wallet.

Step 2

The next step is to create an account on a popular cryptocurrency exchange like Binance. You can pick any crypto exchange that allows you to sell crypto for fiat currency. Binance is often highly recommended because it supports over 60 fiat currencies and allows you to use credit cards, debit cards, bank transfers, and cash balances.

After you’ve created an account and logged into it, you’ll find yourself on the dashboard. Click on “Wallet” followed by “Fiat and Spot” on the top navigation bar to go to your “Fiat and Spot” wallet. 

Next, find the cryptocurrency that you want to cash out from Trust Wallet (for example Bitcoin) and click on “Deposit”. For example, if you have Ethereum on Trust Wallet and you want to cash it out, navigate to “Ethereum” and click on “Deposit”.

To cash out your cryptocurrency on Trust Wallet, you must send it to Binance to sell it. To do this, you need to copy your cryptocurrency’s address (e.g. Ethereum) on Binance.

Step 3

Now that you have the Binance address you want to send your cryptocurrency to,  open the Trust Wallet app. Navigate to the Smart Chain page. 

After you’ve tapped on the cryptocurrency that you want to cash out (e.g. Ethereum), you’ll land on your Ethereum wallet. On your Ethereum wallet, you’ll see multiple icons including “Send”, “Receive”, “Copy”, and “More”.

Since you can’t sell your Ethereum on Trust Wallet, you need to send it to Binance. Tap on “Send” to send your Ethereum to Binance. Then, paste your Ethereum address from Binance on the “Recipient Address” field. You can find this address by following Step 2.

Next, enter the amount of Ethereum you want to send to Binance in the “Ethereum Amount” field. The value of the Ethereum that you’re sending will be displayed under the field. After you’ve tapped on “Next”, you’ll land on the confirmation page where you need to confirm the withdrawal.

The withdrawal process will take about 30 to 60 minutes.

Step 4

After you’ve sent the cryptocurrency you want to cash out from Trust Wallet to Binance, you can sell it for fiat currency on Binance.

Navigate to the “Buy and Sell Cryptocurrency” page on Binance. On the “I want to sell” field, select the cryptocurrency you want to sell (e.g. Ethereum). Then, enter the amount of Ethereum you want to sell.

Next, select the fiat currency you want to receive on the “You will receive” field (e.g., USD, EUR). Tap “Next” to go to the confirmation page.

Step 5

Now that you’ve sold a cryptocurrency to a fiat currency (e.g. USD), you can withdraw the fiat currency or money to your bank.

On Binance, click on “Wallet” followed by “Fiat and Spot” on the top navigation bar. On your Fiat and Spot wallet, click on “Withdraw” at the top of the page. Then, click on the “Withdraw Fiat” button.

On the fiat withdrawal page, you need to select a currency and payment method. On the “Currency” field, select the currency that you want to withdraw to your bank account (e.g. USD). The recommended payment methods are “Bank Transfer (SEPA)”, “Bank Card (Visa)” or “Silvergate Bank (SWIFT)”.

In the “Amount” field, enter the amount of money you want to send to your bank account. Select the bank account you want to send the money to on the “Withdraw To” field and click on “Continue”.

After you’ve clicked on “Continue”, complete the security verification and the money will be sent to your bank account.

You’ll usually receive the money within 30 to 60 minutes.

When you withdraw through Binance Fiat Exchange you will be charged withdrawal fees. If you don’t want to pay fees, you will need to look for a Peer-to-Peer (P2P) option so you can exchange your crypto for cash from another user. 

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Conclusion

Now you understand how to withdraw money from Trust Wallet. You first need to swap the token for Bitcoin or Ethereum on Trust Wallet. Then, you must send the Bitcoin or Ethereum to a popular exchange that allows you to cash out your cryptocurrencies. 

Once you have sold your cryptocurrencies, you can withdraw the fiat currency from the crypto exchange to your bank account. It’s as simple as that!

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Trust Wallet is one of the most popular cryptocurrency wallets, with support for a wide variety of crypto assets, stablecoins, and NFTs. Trust Wallet has more than 25 million users, works on Android and iOS, and integrates with thousands of DApps and Web3 services.

Trust Wallet: Everything You Need In One App

Trust Wallet bills itself as an all-in-one solution for self-custody of your crypto assets. Trust wallet supports 4.5 million assets on 65 different blockchains. Trust Wallet supports 10 popular stablecoins, NFTs on Ethereum and Binance Smart Chain, Staking & passive earning, in-app crypto purchasing with credit card, as well as having a full web3 browser and integration with thousands of DApps from the Ethereum and Binance Smart Chain ecosystems.

Since Trust Wallet caters to investors and traders, many of which buy, hold, and trade multiple crypto assets in their portfolios, many Trust Wallet users have wondered how to cash out their gains from Trust Wallet, and move funds in fiat currency like Dollars or Euros to their bank accounts.

Buy Gift Cards with Trust Wallet

Pay with BTC, ETH, Binance Pay, USDT, DOGE, LTC, DASH

👉 Shop Gift Cards with Crypto, 1% Rewards

Benefits of buying gift cards with Trust Wallet

1) Instant digital delivery,
2) Save on exchange/withdrawal fees
3) Cash out without banks,
4) Get min 1% cashback on all cards

Let’s find out how to withdraw money from Trust wallet to a bank account!

Turning Tokens Into Cash With Trust Wallet

To cash out some of your token holdings for a national currency which can be sent to your bank account, it’s simple and straightforward for popular cryptos like Bitcoin, Ether, BNB and popular stablecoins like USDT and USDC, but for smaller market cap tokens and NFTs you may need to convert them to another asset first.

The process is easy enough using Trust Wallet’s DApp browser to convert niche tokens and NFTs into more popular cryptos or stablecoins using Decentralized Exchanges (DEXs) Like Pancake Swap or Uniswap.

The final step is sending your newly converted Bitcoin, Ether, BNB, or stablecoins to an exchange like Binance, Coinbase, or Kraken, to sell for fiat currency like Dollars or Euros, which can be transferred off the exchange and into your bank account’s balance.

This tutorial assumes you have already set up an account at a popular cryptocurrency exchange, and have verified your account, and linked your bank account to your exchange account.

Buy Gift Cards with Trust Wallet

👉 Shop Gift Cards with Crypto, 1% Rewards

Benefits of buy gift cards with Trust Wallet

1) Instant digital delivery,
2) Save on exchange/withdrawal fees
3) Cash out without banks,
4) Get min 1% cashback on all cards

How to Withdraw Money From Trust Wallet in 3 Easy Steps

Step 1

  1. If you wish to cash out a popular crypto asset like BTC, ETH, BNB, or a USD Stablecoin, you need to send it to your exchange account (Binance, Kraken, or Coinbase, for example), and then sell it for USD or EUR and then withdraw the funds to your linked bank account.
  2. If you are trying to convert a more obscure token, NFT, or other asset, you’ll need to use Trust Wallet’s DApp browser to utilize a DEX like Pancake Swap or Uniswap to convert the asset to BTC, BNB, ETH or a popular stablecoin like USDT.

Step 2

  1. If you have just converted your tokens to a more popular crypto asset with a DEX, the next step is to send those funds to your exchange account. In our example, we’re using a popular exchange like Binance, Kraken, or Coinbase, but the process should be similar for a lot of additional exchanges.
  2. To send your funds to the exchange, you’ll need to navigate to your account page and find the deposit address for the asset you wish to send to the exchange. For example, a BTC deposit address for Bitcoin, an Ethereum address for ETH, and a Tether address for USDT. You’ll need to wait for a few onchain confirmations until your balance is available.
  3. Next, you’ll need to sell your asset for USD or EUR, and initiate the exchange withdrawal process.

Recharge Phone with Trust Wallet

👉 Recharge Phone with Crypto

Step 3

  1. Once you’ve sent the funds to your exchange account, and the balance is available, you’ll need to sell your asset for USD, EUR, or a USD-based stablecoin like USDT or USDC.
  2. Next, you’ll need to withdraw your cash to your bank account which you have linked to your exchange account. You can withdraw the cash using the exchanges withdrawal process. The withdrawal could take a couple of days to process, so keep that in mind.
    (To link your bank account, you’ll need to create an account at a popular exchange and then get your account verified, then add your account details from your bank account. This process could take a few business days to complete verification)
  3. Each exchange has its own procedure for withdrawing funds, which can be found in their terms and conditions or FAQ. Here’s the instructions for 3 of the most popular, Binance, Coinbase, and Kraken:

    How to withdraw funds from Binance.
    How to withdraw funds from Coinbase.
    How to withdraw funds from Kraken.

  4. Once your funds have been sent from the exchange, there may be a hold on the funds until the transfer has been processed. Once the transfer has been completed, your funds will be available in your account, and can be accessed.

Final Notes About Cashing Out From Trust Wallet

The exchanges used as examples in this article are by no means your only option. They are some of the most popular international exchanges which offer services in many countries. That being said, they may not offer service in every country. In that case, you’ll need to search online for the exchange in your region which allows you to link your bank account and withdraw national currency from the exchange.

Selling your crypto for fiat could be a taxable event depending on your nation of residence and the regulations in your country. Be sure to check your local regulations and tax obligations so you can keep the proper records and report your sale.

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Written by Jane