How to Withdraw Money from Trust Wallet to Bank Account

Are you looking forward to withdrawing money from your trust wallet to your bank account? You have landed on the right page. Before diving deeper, let’s have a bird’s eye view on Trust wallet.

Out of all the cryptocurrency wallets in the market, the trust wallet has been one of the most secure, accurate, and accessible wallets to use. Many people worldwide have used trust wallets to manage their crypto assets and currencies.

Let’s say that you have made a good amount of profit on the platform, but you can’t seem to find a way through which you can sell your crypto assets directly into money.

And you might feel there is nothing you can do to get that money in your bank account. While it can seem like an impossible task, it’s not that hard, and you have to follow some simple steps to withdraw your money from the trust wallet app.

What is a Trust Wallet?

Trust wallet is a decentralized cryptocurrency wallet. It supports almost all of the cryptocurrencies available in the market and is known for its diverse options. This crypto wallet lets you buy, sell, exchange, and swap a large number of coins and many other digital assets like Nfts.

Trust wallet is a very user-friendly and safe crypto wallet, which is why it is very well-known and recommended. It is also owned by Binance holdings limited, which owns the Binance cryptocurrency exchange. Besides, it helps you buy many goods and services from the retailers who accept cryptocurrency in exchange. It supports over 60 fiat currencies. Which include some of the most influential currencies in the world like the US dollar and the Euro

Overall the app is designed with simplicity and is free to download.

Many cryptocurrency wallets make it challenging and complex to purchase a cryptocurrency, and sometimes the process also takes time. Unlike these apps, Trust wallet lets you buy crypto quickly and conveniently with the help of your credit card.

Now the question arises, how to withdraw money from Trust Wallet?

Don’t worry; a procedure would let you withdraw from the Trust wallet. It’s important to remember that one cannot withdraw money directly from the Trust wallet.

All your confusion will be over by the end of this article, and you will have a clear thought of how to Withdraw money from Trust Wallet. So, keep reading till the end!

Can I Withdraw Money Directly From A Trust Wallet?

No, it is not possible to withdraw money directly from the Trust wallet. Trust wallet stores and deals only in cryptocurrencies, not money, and it’s Integrated with Decentralized Exchange (DEx) Platforms.

But there are several crypto exchanges like Coinbase or Binance, where you can directly transfer the crypto and then sell it to withdraw the money to the bank account.

However, it’s essential to understand that the Trust wallet is not an exchange platform but enables us to store and exchange crypto.

Trust wallet doesn’t enable any individual to withdraw Cryptocurrency, fiat currencies or even money directly from the wallet.

You can withdraw the different cryptocurrencies only from a centralized exchange app like Binance or Coinbase.

Exchange Platforms are open marketplaces where traders trade crypto or any related transactions.
But there is always a need for intermediaries to assure the security of the individuals involved in the trade process.

A trust wallet is the one that fills this gap and gives users total control over their choices of Cryptocurrencies and tokens, and it even helps them maintain their private and public keys.

How to Withdraw From a Trust Wallet?

Step 1: Open Trust Wallet App

Locate the trust wallet app on your home screen, open it, and check the balance from the displayed page.

Step 2: Choose Crypto

Choose the Cryptocurrency that you would like to withdraw and click on send.

Step 3: Fill In The Required Details

Now you would have to fill in the following details:-

• Recipient Address that would include paste and scan option
• Name of the Token/coin with the maximum amount and type of the coin

Step 4: Choose To Swap or Convert

The coin type you select has to be either swapped from the Pancake swap option or can be converted.

Step 5: Launch An Exchange Platform

After completing all the above fours steps, head to “open a centralized app” as it’s a must for transactions of coins, and after completion, send the coin’s address to the app (referring to Binance/Coinbase or FTX)

Step 6: Open Dashboard And Click On Wallet

One can use Coinbase or Binance’s centralized exchange platform. Binance is amongst the most popular and widely used options and owns a trusted wallet, open the Dashboard and click on the wallet.

Step 7: Choose The Fiat Currency

Now you must choose the fiat and spot option from the wallet. And then, select the fiat currency in which you would like to withdraw the Cryptocurrency.

Step 8: Fill In The Details In Binance

Fill in all the details of the BNB wallet in your Binance account.
The details that need to be filled in are the Recipient’s address and the network in which you want to transact your crypto coin.

Step 9: Send the Crypto Coin (from Trust Wallet) to Binance Wallet

This is one of the most crucial steps that you need to follow. Open the trust wallet again and ensure you have correctly filled the Recipients address and the crypto.
Note:- You can transact in the crypto, supported by Binance or any other exchange platform.

Step 10: Withdraw Amount

The crypto coin you transacted would be directly sent into your Binance Wallet, and the withdrawal will be made into your “Binance Account” and not your Bank account.
Note:- A network fee/Transaction fee would be levied while transferring the coin from Trust wallet to any other centralized app, and the cost depends on the coin you are transferring.

How to Withdraw From Trust Wallet To Bank Account?

Trust wallet doesn’t have any option to withdraw the money to your account.

Step 1: Open Trust Wallet And Check Your Available Balance

Locate the trust wallet app on your home screen, open it, check the balance from the displayed page, and then select the currency you would like to withdraw.

Step 2: Click On Send

Now that you have chosen the Cryptocurrency you will have to trade next, click Send.

Step 3: Fill In The Details

A bar would be displayed named “Send Cake” and would contain two fields such as “Recipients Address” & “Coin/Cake Amount”, with a token icon and a maximum. You will need to fill in these fields.

Step 4: Choose Fiat And Spot From Binance/Coinbase

In case you are using Binance, select the Blockchain. Now head on to the Dashboard and open the wallet. Now, click on Fiat & Spot.

Step 5: Fill In The Details In Binance

Fill in all the details of the BNB wallet in your Binance account.
The details that need to be filled in are the Recipient’s address and the network in which you want to transact your crypto coin.

Step 6: Copy The Address To Trust Wallet

Double-check your Recipient’s address in your Binance Wallet; ensure you have correctly copied the address to the Trust wallet Recipients Box.

Step 7: Send The Crypto Coin(From Trust Wallet) To Binance Wallet

This is one of the most crucial steps that you need to follow. Open the trust wallet again and ensure you have correctly filled the Recipients address and the crypto.
Note:- You can transact in the crypto, supported by Binance or any other exchange platform.

Step 8: Withdraw Amount

The crypto coin you transacted would be directly sent into your Binance Wallet, and the withdrawal will be made into your “Binance Account” and not your Bank account.

Now you will need to Sell the Crypto Coin to a Standard fiat currency (for example, from BNB to rupees). After you have sold, the amount will be deposited into your bank account.

How to Withdraw From Trust Wallet To GCash?

Step1: Open The Trust Wallet App

From the list of coins and the different types, select the Cryptocurrency in which you would like to withdraw.

Step 2: Click On DApps From The Options

A page would be displayed along with Swapping options

1. Choose the ‘Pancake swap’.Now Fill the ‘To’ field and select the currency you want to swap your crypto.
2. Now click on Search (find it on the top section of the page)

In case you specified the Cryptocurrency as USDT. Now you can swap it with Pancake; eventually, a list will be displayed with a confirmation for Pancake Swap with all the details.

Step 3: Get Back To Trust Wallet’s Main Page

1. Tap on the Bar present at the top of the right page
2. The USDT types and the swapping details would appear after the above step.
3. Select the required type of USDT types. For instance, if you have selected a smart chain, pick the USDT’ type’ (Bep 20)

Step 4: Open Binance Wallet

From the Description Box, tap on the wallet and choose the option Deposit. After that, tap on crypto and type USDT.
A USDT page will be displayed once finished. Find the wallet address below the QR Code and copy that.

Step 5: Back To Trust Wallet’s Main Page

1. Now you would see USDT, click it next, choose to send and Paste The Wallet Address in the field.
2. Now, Choose the amount you would like to withdraw and tap on Send.
3. Wait for a few minutes for the completion of the transaction.
4. Now, open the Binance Wallet.

Step 6: Spot Section Of Binance Wallet

From the description box, select transfer and tab on P2P trading.

Note that there is a minimum limit to withdraw from Binance to GCash.

Now Choose the desired option to whom you would like to sell your USDT coins and Sell.
Select the payment method and go to GCash.

You would receive a message from GCash, within a few minutes. Meanwhile, ask for the confirmation list, which would be a confirmation of your order.

Thoughts

Now that you know, withdrawals from Trust Wallet are not a simple procedure. To withdraw money from Trust Wallet, you must complete all the necessary steps.

The withdrawal process’ steps could be unclear to some persons. As a result, you should always have both the Binance/Coinbase App and the Trust Wallet App open in separate tabs. Although I have discussed every step in detail, you might not face any issue while withdrawing money from a trust wallet. But if you still have any query, you can ask me in the comments.

FAQs