Posted by Frank Gogol in Crypto | Updated on November 15, 2022
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.
Table of Contents
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.
Read More
- How to Make Money with Cryptocurrency
- How to Withdraw from Binance
- How to Transfer From Coinbase to Coinbase Pro
- How to Transfer from Coinbase to Binance
- How Does Cryptocurrency Gain Value?
- How to Read Crypto Charts
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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FAQs
How do I withdraw money from my Trust Wallet to my main account? ›
While you can't withdraw money to your bank account in Trust Wallet, you can send the tokens to a centralized exchange and sell it there. Once you exchange your tokens for your local currency, you can withdraw the funds to your bank account.
Why can't I withdraw money from my 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.
How to withdraw money from Trust Wallet to bank account in usa? ›- Choose a Trusted Crypto Exchange. ...
- Exchange your Crypto on Trust Wallet. ...
- Withdraw from Trust Wallet to an Exchange. ...
- Sell Cryptocurrency for FIAT. ...
- Withdraw Money from Exchange.
There are no limits since Trust Wallet is a decentralized app.
Where can I withdraw money from trust account? ›You can find a Trust-branded ATM at FairPrice Xtra Vivocity, #B2-23 and SCB ATMs at Bedok Mall, Bugis Junction, Vivocity, Sixth Avenue, Clementi Mall, NEX Serangoon, Serangoon Garden, Marine Parade, Changi Business Park, Tampines, Marina Bay Financial Centre and Battery Road.
How do I withdraw money from my crypto wallet to my bank account? ›- Sell your crypto. Using a centralized exchange (examples include Coinbase and Kraken) is one of the simplest ways to cash out your cryptocurrency or Bitcoin. ...
- Wait until the transaction clears. ...
- Withdraw your money. ...
- Debit card withdrawal. ...
- Peer-to-Peer Sales. ...
- FAQ.
Holding period. If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.
Can I transfer money from Trust Wallet to PayPal? ›It is impossible to withdraw money from Trust Wallet to your PayPal account. However, you do have the option of transferring the funds from the major exchange to PayPal.
Does Trust Wallet work in USA? ›Some crypto wallets are only designed to send and receive crypto, but the Trust Wallet app also lets you buy and sell. Crypto purchases in Trust Wallet go through Ramp, which is available in most of the United States.
How do I transfer money from my trust bank account? ›- Tap on menu icon > Transfers & Payments > Add & Manage Biller > Other Bank's Credit Card Payee.
- Enter cardholder's name and enter your 16-digit Trust card number under account number > Tap Continue.
- Review payee details. ...
- Enter your 6-digit PIN and tap Confirm.
- Tap Move My Money.
- Tap Pay Other Bank Credit Cards.
How long does Trust Wallet transfer take? ›
How long does it take to receive Bitcoin on Trust Wallet? This type of transaction typically takes 30 to 60 minutes. When this process has finished, you'll then be able to see the amount of Bitcoin you purchased. Be aware that if your gas fee is high, miners usually process these transactions faster.
What is the highest daily withdrawal limit? ›The maximum amount of money you can withdraw from an ATM at one time depends on the bank. Most banks have ATM withdrawal limits ranging from $300 to $3,000 daily. For example, Bank of America advertises a $1,000 maximum daily withdrawal limit, or a maximum of sixty bills, for most accounts.
How much can you withdraw from a crypto wallet? ›...
What are the limits for depositing and withdrawing funds?
| Daily Limit | Monthly Limit | |
|---|---|---|
| Depositing | $100,000 | Unlimited |
| Withdrawing | $100,000 | $500,000 |
Trust Wallet is a non-custodial software wallet that offers an all-in-one experience. It allows users to securely send, receive, exchange, and hold digital assets, including cryptocurrencies and non-fungible tokens (NFTs).
What is the daily transfer limit for trust bank? ›For PayNow or FAST transfer to added payees (to third party accounts within Trust and other banks' accounts/cards) the maximum transfer limit is S$25,000 per transaction and S$100,000 for overall daily limit.
How do I withdraw money from my account number and PIN? ›How do I withdraw money to a bank with an account number and PIN? The pin is only valid with the card. With the card and the pin just go to any ATM and you can withdraw from the accounts associated with the card.
Are trust funds through banks? ›Most banks and credit unions offer trust accounts. In most cases, you will be able to choose between savings accounts, checking accounts, and CD accounts. Some banks might also offer the possibility to open money market accounts under a trust.
How do I sell on trust wallet? ›It's important to understand that you can't sell directly from the Trust Wallet app. You must send your Bitcoin from the app to a cryptocurrency exchange first. Creating an account on a cryptocurrency exchange is free and is the first step in cashing out your Bitcoin from Trust Wallet.
How do I use crypto wallet in ATM? ›You'll need a cryptocurrency wallet, which is where the Bitcoin is stored, since the digital currency is not tied to a bank account. Once the amount of cash you want to exchange for Bitcoin is inserted into the ATM, you can enter your wallet's address or QR code into the machine.
How long does it take to withdraw money from crypto account? ›How Long Does It Take to Withdraw From Crypto.com? It takes Crypto.com about 1 to 2 business days to process fiat withdrawals from the exchange, and cryptocurrency withdrawals are usually processed within 2 to 3 hours.
How long does it take to withdraw crypto money? ›
Withdrawing cryptocurrencies can take a varied amount of time, based on the token or currency you have decided to withdraw. It can take anywhere between 1 and 24 hours for a transaction to be processed on the blockchain.
Should I pull all my money out of crypto? ›Don't sell all of your cryptos unless you have reached your goal. Still, you might want to keep some crypto since you cannot be sure that the value of Crypto wouldn't increase from your targeted value. Selling all your Crypto in one go can lead to denial from future gain.
What transfer network does Trust Wallet use? ›Trust Wallet is the premier mobile ethereum wallet which works with any ERC20, BEP2 and ERC721 tokens. Trust Wallet also supports the main blockchains in the Ethereum ecosystem - Ethereum, Ethereum Classic and Callisto.
How can someone send me money on Trust Wallet? ›Make a transaction on Trust Wallet
Click Send. Add the wallet address of the receiver on the first line and enter the amount.
No, you cannot buy Trust Wallet Token with cash because it is not supported across Coinbase ecosystem.
Does Coinbase accept Trust Wallet? ›Tap “Send Now” to send your crypto from Coinbase to Trust Wallet. The transaction will mostly be complete in about 30 to 60 minutes. Once the transaction is complete, you can see the amount of crypto you have received on Trust Wallet.
Is Trust Wallet supported by Coinbase? ›Trust Wallet Token is not supported by Coinbase.
Is Trust Wallet tracked by IRS? ›The simple answer is that Trust Wallet does not currently report user information or activity to the IRS.
Is Trust Wallet IRS compliant? ›Yes, your Trust Wallet transactions are public - all the IRS needs is a wallet address to view all the transactions you've made. Almost all blockchains, including Ethereum and Binance Chain, are public ledgers. It means anyone - the IRS included - can look at the transactions a given wallet has made.
Is it legal to use Trust Wallet? ›YOUR USE OF TRUST WALLET
You agree that you will not violate any laws when using our Services. This includes any local, provincial, state, federal, national, or international laws that may apply to you.
Does trust bank use Zelle? ›
Introducing Zelle — a fast, safe and easy way to send money in minutes1 to friends, family and others you trust, right from the Citizens Trust Bank mobile app. Zelle makes it easy to send money to, or receive money from, people you trust with a bank account in the U.S. Find Zelle in your Citizens Trust Bank app.
How do you link a bank account to a trust? ›Most banks prefer that you and your spouse come to a local branch of the bank and complete their trust transfer form. Typically this is a one or two page document that will ask you to list the name of your trust, the date of the trust and who the current trustees are.
Why is Trust Wallet not working? ›Try opening a Browser or opening another app that connects to the internet. Switch off/on your Mobile Data, try to reconnect to a different WiFi Hotspot. If there is a connection problem then you would need to check this further on either your device settings or Internet provider.
Why is my Trust Wallet transfer pending? ›In a pool of many transactions, some transactions with the lowest gas prices never get picked up - miners are not willing to process them. It results in them getting “stuck” in a pending status.
How do I contact Trust Wallet customer service? ›Email: support@trustwallet.com.
Can you withdraw $1000 at once? ›Your ATM max withdrawal limit depends on who you bank with, as each bank or credit union establishes its own policies. Most often, ATM cash withdrawal limits range from $300 to $1,000 per day. Again, this is determined by the bank or credit union—there is no standard daily ATM withdrawal limit.
How much money is too much to withdraw? ›Thanks to the Bank Secrecy Act, financial institutions are required to report withdrawals of $10,000 or more to the federal government. Banks are also trained to look for customers who may be trying to skirt the $10,000 threshold.
How do I withdraw large amounts of cash? ›- Request an increase in your daily limit.
- Make a withdrawal in person at a bank branch.
- Get a cash advance with a credit or debit card.
- Get cash back with a purchase at a store.
You can use a crypto exchange like Coinbase, Binance, Gemini or Kraken to turn Bitcoin into cash. This may be an easy method if you already use a centralized exchange and your crypto lives in a custodial wallet. Choose the coin and amount you'd like to sell, agree to the rates and your cash will be available to you.
Which crypto exchange has no withdrawal limit? ›CoinSwitch is one of the top cryptocurrency exchanges that require no KYC verification since it allows you to trade crypto at the best rates. They allow you to trade 400+ cryptos, cryptocurrencies, and tokens without having to create an account on any exchange. Additionally, there is no withdrawal limit on CoinSwitch.
Why can't i withdraw from Trust Wallet? ›
While you can't withdraw money to your bank account in Trust Wallet, you can send the tokens to a centralized exchange and sell it there. Once you exchange your tokens for your local currency, you can withdraw the funds to your bank account.
How much can I withdraw from Trust Wallet? ›There are no limits since Trust Wallet is a decentralized app.
Where is my money in Trust Wallet? ›Trust Wallet is basically just a bridge to multiple blockchains. Technically, there is no funds stored on your wallet. The app holds the keys that allow you to connect to the network, check your balance and make transactions.
Does Trust Wallet charge withdrawal fees? ›Trust Wallet doesn't charge any wallet fees, including for transactions and swapping one cryptocurrency for another. There are blockchain network fees that are paid to miners or transaction validators.
How do I transfer money to my bank account? ›- Open your bank's website.
- Log in to your credit card account.
- Select the transfer option.
- Enter the amount you want to transfer.
- Enter the required details mentioned in the form.
- Follow the prompts to complete transactions.
As Trust Wallet is a non-custodial wallet, it doesn't hold users' private keys and doesn't have access to their funds.
Does Trust Wallet report to IRS? ›The simple answer is that Trust Wallet does not currently report user information or activity to the IRS. While this sounds like great news on the surface, there are some downsides to it as well. On one hand, users can feel secure knowing that their information remains private.
Which social media is partnering with Trust Wallet? ›Trust Wallet said on Monday that it is one of the initial launch partners for Instagram's integration of non-fungible tokens. Instagram unveiled its "Digital Collectibles" product at the start of this week as part of a creator monetization strategy.
What is the minimum balance for Trust Wallet? ›If you want to buy Bitcoin through Trust Wallet using a credit card, the minimum investment is $50 and the maximum is $20,000.