Withdrawing money from Trust Wallet to your bank account is quite different from other crypto apps. It’s easy on exchanges like Binance, Coinbase, and Crypto.com.
Storing your crypto assets in Trust Wallet is one way to keep them if you don’t want to trade. If you want to withdraw your crypto assets you need to sell for Fiat money.
Trust Wallet can’t help you do that, you need to use a cryptocurrency exchange like Coinbase, Crypto.com, or Binance to withdraw the money to your bank account.
In this article, you’ll learn how to withdraw money from the Trust Wallet app to your bank account. You’ll be able to use any cryptocurrency app to withdraw money.
ALSO READ: How To Enable DApp Browser On Trust Wallet (iPhone And Android)
How To Withdraw From Trust Wallet To Bank Account
Since Trust Wallet doesn’t allow you to sell your crypto assets for Fiat currency, how do you withdraw money to your bank account?
In this guide, we’ll show you how you can do it using Binance, Coinbase, and Crypto.com.
You can also use other cryptocurrency exchanges like Kraken, BlockFi, FTX, Luno, etc. And even no exchange like Cash App.
All you have to do is transfer your cryptocurrency assets from Trust Wallet to another crypto-supported centralized app using the crypto token address.
For coins that aren’t supported by the centralized exchanges, you’ll need to swap them on Trust Wallet for popular coins using PancakeSwap or DEX.
After that, you can send the coin to the centralized exchange then you can sell/or convert the crypto assets for Fiat and withdraw them to your bank account.
Here’s the step-by-step guide to learning how to withdraw money from Trust Wallet.
ALSO READ: How To Withdraw Money From Binance To Your Bank Account
Use Binance to Withdraw To Bank Account
First, you need to send the crypto token out of Trust Wallet to a centralized crypto exchange like Binance.
If you haven’t created an account, follow this link to set up your new Binance account. For the US, use the link.
Step 1: Send Token
Before anything, you’ll need to send the crypto assets to Binance. We’re using Bitcoin, so we’ll go to our Binance account.
We’re using the app version, you can use the web version on your web browser on computers or mobile.
Open Binance on your Android or iPhone and tap Wallet at the bottom right corner, then tap on Spot from the top section and select Deposit.
Step 2: Copy Bitcoin Address
From the Deposit section, search for BTC using the Search bar at the top and select the Bitcoin Network.
Now Copy the Bitcoin address and then open the Trust Wallet app to send Bitcoin to Binance.
Step 3: Send Bitcoin From Trust To Binance
Now that you’ve copied the Bitcoin wallet address, open the Trust Wallet app and tap on Bitcoin since you want to cash it out.
From the Bitcoin Wallet, you’ll see different actions, which include “Send” and “Receive.” Tap on Send to send your BTC to Binance.
On the sending page, paste the Bitcoin address in the Recipient Address and enter the Bitcoin amount.
Then tap on Continue at the top left and confirm that you want to send Bitcoin to the address, you’ll see the network fee to facilitate the transaction.
After that you’ll have to wait for about 30 minutes to 1 hour, then the coin will be available on your Binance Bitcoin wallet.
Step 4: Sell The Bitcoin For Fiat
Once you’ve received the coin in your Binance Wallet, you’ll need to sell/trade the coin for Fiat currency.
Now open Binance and tap on Trades at the bottom center of your screen. Select the coin/currency you want to sell by tapping on BTC/USDT.
Search for BTC/Currency. If you want to withdraw to a UK bank account, you can use BTC/GBP, for countries in Europe you can use BTC/EUR, and BTC/BUSD to withdraw USD.
Once you find the Coin/Currency you want to sell for, tap Sell, tap 100% to sell all BTC, then tap Sell BTC from the trade section.
Step 5: Withdraw Money To Bank Account
Once you’ve sold the cryptocurrency and the transaction has been completed you can now withdraw money to your bank account.
On the trade section tap on Fiat. It’s before the P2P and after Margin from the top bar.
Then tap on Withdraw GBP and a new page will open, you’ll be able to select the currency you want to withdraw.
On the new page, you can change currency if you want. Tap Continue and enter the amount of money that you want to send to your bank account. Add payment information.
Complete the security verification then the money will be transferred to your bank account.
ALSO READ: How To Withdraw Money From Crypto.com To Your Bank Account
Use Crypto.com to Withdraw To Bank Account
First, you need to send the crypto token out of Trust Wallet to centralized crypto exchange like crypto.com.
Step 1: Send Token
Open Crypto.com app on your Android or iPhone and tap Transfer at the bottom right corner, then tap on Deposit from the top section and select Crypto.
Step 2: Copy Bitcoin Address
From this section, select the crypto you want to deposit so that you can withdraw via crypto.com. Select BTC and a pop-up will appear with the Bitcoin address.
Now Copy the Bitcoin address and then open the Trust Wallet app to send Bitcoin to Crypto.com.
Step 3: Send Bitcoin From Trust To Crypto.com
Now that you’ve copied the Bitcoin wallet address, open the Trust Wallet app and tap on Bitcoin since you want to cash it out.
From the Bitcoin Wallet, you’ll see different actions, which include “Send” and “Receive.” Tap on Send to send your BTC to Crypto.com.
On the sending page, paste the Bitcoin address in the Recipient Address and enter the Bitcoin amount.
Then tap on Continue at the top left and confirm that you want to send Bitcoin to the address, you’ll see the network fee to facilitate the transaction.
After that you’ll have to wait for about 30 minutes to 1 hour, then the coin will be available on your Crypto.com Bitcoin wallet.
Step 4: Sell The Bitcoin For Fiat
Once you’ve received the coin in your Crypto.com Wallet, you’ll need to sell the coin for Fiat currency.
We’ve written an in-depth guide about this. See how to withdraw money from Crypto.com to your bank account.
ALSO READ: How To Withdraw Money From Coinbase To Your Bank Account
Use Coinbase to Withdraw To Bank Account
First, you need to send the crypto token out of Trust Wallet to centralized crypto exchange like Coinbase.
Step 1: Send Token
If you want to withdraw from Trust Wallet to Coinbase, open the app on your Android or iPhone.
Then tap on Receive on the Home screen, you can also tap on Receive from the Pay tab.
Step 2: Copy The Crypto Address
From this section, select the crypto you want to deposit so that you can withdraw via Coinbase.
If you don’t see the crypto you want to transfer to Coinbase from Trust Wallet, tap on the crypto name and you’ll able to select your choice.
Note that Coinbase doesn’t support all cryptocurrencies.
Select BTC and then choose the network that you want to receive it on, and select Bitcoin as the network. This is only available for crypto assets with multiple networks.
Now, you’ll see the Bitcoin address or whatever Crypto asset you’re transferring to Coinbase.
Select Copy Address and the Bitcoin address will be copied. Open the Trust Wallet app to send Bitcoin to Coinbase.
Step 3: Send Bitcoin From Trust To Coinbase
Now that you’ve copied the Bitcoin wallet address, open the Trust Wallet app and tap on Bitcoin since you want to cash it out.
From the Bitcoin Wallet, you’ll see different actions, which include “Send” and “Receive.” Tap on Send to send your BTC to Coinbase.
On the sending page, paste the Bitcoin address in the Recipient Address and enter the Bitcoin amount.
Then tap on Continue at the top left and confirm that you want to send Bitcoin to the address, you’ll see the network fee to facilitate the transaction.
After that you’ll have to wait for about 30 minutes to 1 hour, then the coin will be available on your Coinbase Bitcoin wallet.
Step 4: Sell The Bitcoin For Fiat
Once you’ve received the coin in your Coinbase Wallet, you’ll need to sell the coin for Fiat currency.
We’ve written an in-depth guide about this. See how to withdraw money from Coinbase to your bank account.
Use Cash App to Withdraw To Bank Account
First, you need to send the crypto token out of Trust Wallet to crypto supported app like Cash App.
Step 1: Send Token
Open CashApp on your Android or iPhone and tap the Bitcoin tab on your Cash App home screen.
Step 2: Copy Bitcoin Address
From this section, tap on Deposit Bitcoin. Bitcoin is the only supported cryptocurrency in Cash App.
From the Deposit page, you can copy the Bitcoin address. Confirm this with your PIN or Touch ID. Then open the Trust Wallet app to send Bitcoin to Cash App.
Step 3: Send Bitcoin From Trust To Cash App
Now that you’ve copied the Bitcoin wallet address, open the Trust Wallet app and tap on Bitcoin since you want to cash it out.
From the Bitcoin Wallet, you’ll see different actions, which include “Send” and “Receive.” Tap on Send to send your BTC to Cash App.
On the sending page, paste the Bitcoin address in the Recipient Address and enter the Bitcoin amount.
Then tap on Continue at the top left and confirm that you want to send Bitcoin to the address, you’ll see the network fee to facilitate the transaction.
After that you’ll have to wait for about 30 minutes to 1 hour, then the coin will be available on your Cash App Bitcoin wallet.
Step 4: Sell The Bitcoin For Fiat
Once you’ve received the Bitcoin in your Cash App Wallet, you’ll need to sell the coin for Fiat currency.
Tap on the Bitcoin tab on your Cash App home screen, then tap on Sell, and enter the amount you want to sell. Enter your PIN or Touch ID and select Confirm to sell Bitcoin for Cash.
Withdraw From Trust Wallet To Nigerian Bank Account
To withdraw from trust Wallet to a Nigerian Bank account you’ll need to use the P2P option.
Follow the guide above to send your crypto from Trust Wallet to Binance. After you’ve received the coin, sell the coin for USDT. Now, you’ll be able to sell on P2P.
Step 1: Send Token
Before anything, you’ll need to send the crypto assets to Binance. We’re using Bitcoin, so we’ll go to our Binance account.
Open Binance on your Android or iPhone and tap Wallet at the bottom right corner, then tap on Spot from the top section and select Deposit.
Step 2: Copy Bitcoin Address
From the Deposit section, search for BTC using the Search bar at the top and select the Bitcoin Network.
Now Copy the Bitcoin address and then open the Trust Wallet app to send Bitcoin to Binance.
Step 3: Send Bitcoin From Trust To Binance
Now that you’ve copied the Bitcoin wallet address, open the Trust Wallet app and tap on Bitcoin since you want to cash it out.
From the Bitcoin Wallet, you’ll see different actions, which include “Send” and “Receive.” Tap on Send to send your BTC to Binance.
On the sending page, paste the Bitcoin address in the Recipient Address and enter the Bitcoin amount.
Then tap on Continue at the top left and confirm that you want to send Bitcoin to the address, you’ll see the network fee to facilitate the transaction.
After that you’ll have to wait for about 30 minutes to 1 hour, then the coin will be available on your Binance Bitcoin wallet.
Step 4: Sell Bitcoin For USDT
Once you’ve received the coin in your Binance Wallet, you’ll need to sell/trade the coin for USDT.
Now open Binance and tap on Trades at the bottom center of your screen. Since BTC/USDT is set to default there’s no need to select any other coin.
Tap on Sell, then select the selling percentage to 100%. Now Tap on Sell BTC. BTC will be sold for USDT.
Step 5: Transfer USDT From Spot To P2P Wallet
Once you’ve sold the Bitcoin for USDT and the transaction has been completed, you’ll need to transfer USDT from Spot Wallet to the P2P Wallet.
Tap Wallets on the bottom right of Binance navigation bar, then tap on Spot from the top bar. On the Spot page, tap on Transfer to send USDT from Spot Wallet to P2P Wallet.
Make sure you’re sending From Spot Wallet To Funding Wallet. Then select USDT as the coin you’re transferring to P2P. You can see the image below.
Step 6: Withdraw Money To Bank Account
Now you’ll be able to withdraw money to your bank account. Go To the Trades section and tap on P2P. It’s before the after the Fiat from the top bar.
Tap on Sell, and select USDT as the crypto you want to sell. From here you can see the people that want to buy USDT, you can choose who you want to sell to based on the price.
Tap the Select a payment method section, tap on Add Bank Transfer and select the payment option you’ll like to use, then enter the payments details.
Make sure it’s the same name you’ve used when creating your Binance account.
Once you’ve added your bank account, go back to the Sell USDT page, make sure you enter the amount of USDT you want to see.
Then tap Sell with 0 Fee and wait. Once the person made a payment to your bank account and you’ve confirmed it, you’ll then release the coin.
You can also decide to sell Fiat currency via P2P if you want. Tap on By Fiat and choose which Fiat currency you want to sell for cash.
Note: Don’t release the coin if you haven’t seen any bank alert on your phone. Wait until after you’ve seen an alert and the person has confirmed that they’ve sent it, you can then release it.
ALSO READ: How To Cash Out On Veve Using Payout
What To Know & What To Avoid
If you’re sending your cryptocurrency assets to another crypto exchange app to sell and withdraw the money to a bank account.
You need to consider a few things, Trust Wallet is very different from the other crypto wallet app.
Once you’re sending a token, depending on the crypto assets you’ll need their Blockchain token to use as a transaction/gas fee.
Note that these fees aren’t for Trust Wallet, the app is a decentralized wallet, so they don’t take any fees, instead fees are based on the blockchain of which token you’re sending.
For instant, if you’re sending BUSD, USDC, or USDT you’ll need an extra available ETH in your wallet to facilitate the transaction.
BUSD for example is based on both the ETH and BSC networks, so if you’re sending the crypto you need to know which network you’re sending it to.
The same goes for USDC and USDT. USDT is compatible with the Ethereum and Tron networks, RC20.
To send or swap/exchange ERC20 tokens on the Ethereum network, you’ll need to have ETH in your wallet.
To send swap/exchange TRC-10 and TRC20 tokens on the Tron chain, you’ll need to have some TRX.
To send swap/exchange BEP-20 tokens on the Binance Smart Chain, you’ll need Smart Chain BNB in your wallet.
To send swap/exchange BEP-2 tokens on the Binance Chain, you’ll need some BNB in your wallet.
To send swap/exchange VeThor tokens on the VET network, you’ll need to have VTHO in your wallet.
So make sure you’re not making any mistakes and sending ERC20 coins to TRC20 or BEP-20 network, you’ll lose the crypto assets.
And for the transaction to even go through you’ll need extra ETH, TRX, and BSC for the network/gas fee.
These are for crypto assets that are based on different Blockchain networks. To be on the saver side, you can just send Bitcoin to avoid stories that touch.
But the transaction fee may be higher or lower if you want it to transfer faster or slower. And you’ll get the coin after three confirmations on the network.
Conclusion
If you want to withdraw money from Trust Wallet to your bank account, you’ll need to first transfer the token to another app.
Binance, Coinbase, Crypto.com, CEX.IO, Gemini, KuCoin, Kraken, CashApp, etc.
You can decide to transfer Bitcoin, Ethereum, BNB, XRP, XLM, etc. I use Ripple and Stellar Networks because of their transfer fee and speed.
You can also use any stable cryptocurrency like USDT, USDC, and BUSD. Which seems to be better in most cases.
But do not that if you’re sending USDC, you’ll need some token in Ethereum to facilitate the transaction [network fee].
If you’re sending USDT, you’ll need some token in Tron to facilitate the transaction [network fee].
If you’re sending BUSD, you’ll need some token in BSC to facilitate the transaction [network fee].
Make sure you know the token network you’re sending for. Don’t send USDT [ETH] coin to USDT [TRX] network, your coin will be lost.
Use Bitcoin to avoid stories, but it’ll take time approximately 1 hour for the confirmation to complete on the crypto exchange app.
Once you’ve transferred any of the tokens, then you’ll need to sell the token for fiat currency. From here, you’ll be able to able to withdraw your cash to your bank account.
You can sell any of your cryptocurrency for fiat currencies, plenty of apps allows you to do this, just find the one you’re most comfortable with and easy to use.
Also, note that this withdrawal might take days for it to reach your account others might take less than an hour, but it depends on the exchange you’re using.
You can use your local currency like USD, AUD, GBP, EUR, NGN, etc. All you need to do is go to Trust Wallet and transfer the token to any third-party app like Binance.
Now, sell the cryptocurrency assets and withdraw the fiat currency from the crypto exchange to your bank account.
Frequently Asked Questions
Can I directly withdraw money from Trust Wallet to my bank account?
No, you can’t directly withdraw Money from your Trust Wallet account to your bank account. It’s not possible, for you to withdraw crypto to fiat, you need a third-party app like Binance, Coinbase, or Crypto.com, or use the most popular crypto app in your country.
Can I withdraw money from my Trust Wallet in Nigeria?
Yes, if you’re in Nigeria and you want to withdraw your money to your bank account. You can send the token to popular cryptocurrency apps like Luno, Quidax, Busha, Binance and sell the token for fiat, and instantly withdraw money to your bank account.
