Are you looking for an easy way to withdraw money from Trust Wallet? You can now transfer your funds into a bank account with just one click.
Withdrawal fees are also very low and the process is quick, so it’s a great option if you want to make a withdrawal fast.
In this blog post, we will show you step-by-step how to do this, as well as go over some of the other options available on Trust Wallet.
Table Of Content
What is Trust Wallet?
Trust wallet was one of the first wallets developed specifically for storing ERC20 tokens. It’s a secure mobile application that allows you to store all types of Ethereum, Ethereum Classic and Tether tokens.
Not only can you view your current holdings, but you can also see the market price in any currency using the built-in currency converter. Like most other wallets that support ERC20 tokens.
Trust Wallet has its own ERC20 decentralised exchange built into it – this means that once a trade has been made, no funds are held by Trust Wallet themselves and instant withdrawals are possible from within the app.
Withdraw Money from Trust Wallet to Bank Account
To withdraw money from Trust Wallet to your bank account, you need to swap the token for BNB or Ethereum first.
Step 1. Create a Binance account
So first you have to create a Binance account. If you don’t already have one, this is quick and easy to do using the link below:
Verify your account on Binance Using your email address and password create an account on www.binance.com.
To begin, you will need to verify your email address. This needs to be done before you are able to withdraw any money from Trust Wallet into your bank account.
When that’s done, click ‘Settings’ along with the top menu, followed by ‘Security’ in the left-hand menu bar.
From here, you can set up Google Authentication by following the steps listed under ‘Google Two-Step’.
Once this is complete, you’ll see it mentioned at the top of the page with a tick.
Step 3. Send tokens from Trust Wallet to Binance
Next, you will need to send your ERC20 tokens from Trust Wallet into your Binance account. This is also very easy and can be done by following these steps:
First, click on the ‘Send’ tab.
Then, create an address by entering your account name and the deposit address of your Binance wallet (it will be a long string of letters and numbers).
Your next step is to enter how much you want to send in either Bitcoin or Ethereum. This can be done by entering it into the box labelled ‘Amount‘.
If you only have one currency available then that’s fine – just enter that amount into whichever currency you prefer.
Once the transaction has been sent you should see some details about it displayed in the summary area at the bottom of Trust Wallet. This will include the transaction ID and details about when you should expect the funds to be received by Binance.
Step 4. Convert tokens to BNB or Ethereum
Now that your deposit has been made, it’s time to convert it into a different cryptocurrency so you can withdraw money from Trust Wallet into your bank account. This is done using Binance – but you need to sign back in first before continuing:
Sign back in on www.binance.com When you’re logged back in, click on ‘Exchange’ along the top menu bar, followed by ‘Basic’.
After this, simply select whether you want to convert your ETH or BTC into either USDT (Tether) or BNB.
Once you’ve chosen your currency, the ‘Amount’ field should already be filled in with how much you have to convert. All that’s left to do now is click on the big green button that says ‘Buy’.
This will then give you a full summary of what has just been done – including transaction ID and the estimated time until the funds are received.
Step 4. Withdraw money from Binance to your bank account
Now that your Binance account is funded with either USDT or BNB, it’s time to withdraw the money from Trust Wallet into your bank account. This can be done by following these steps:
Click on withdraw tabs in binance app
Tap on the “Withdraw To Bank” option
Enter Your Bank Details
Tap On “Confirm”
The money will be directly sent to your bank account.
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In this guide, we went over the process of withdrawing money from Trust Wallet to a bank account. It’s quick and easy to do and costs much less than other methods.
Hope you found it useful.