How to withdraw money out of Trust Wallet?
Trust Wallet is a type of wallet software that is designed for cryptocurrencies. Nowadays cryptocurrencies are available in bulk. And Trust Wallet supports more than 60 cryptocurrencies.
Other cryptocurrency platforms do not allow trading to be done easily. But this platform allows you to buy crypto just by using your credit card which saves your time and makes your trading quicker.
Most of the other software claims that they have the best security available but in reality, they are not. This platform gives its users a good level of security for their transactions by giving the owner a secured access key which certifies that only the person having the access key (that is the owner) has all access to the user’s personal financial asset information.
But this platform does not allow you to trade crypto to FIAT or any other traditional currencies. To withdraw the money, you need to interchange your token with Bitcoin or Ethereum.
Now, let us learn step by step the withdrawal process:
- The foremost step is to interchange your assets with a widely held cryptocurrency like Bitcoin or Ethereum in your wallet.
- In this step you have to create a new account on a well-known cryptocurrency exchange like Binance (only in case you do not have any previous account here). On your dashboard click on the wallet and go towards “Fiat and Support”.
- Now, find out the cryptocurrency that you want to withdraw in terms of cash from Trust Wallet. And, then hit on Deposit.
- To withdraw you must transfer it to Binance to sell it. To do this, you need to copy the address of your cryptocurrency on Binance.
- Since, we already know that we can’t sell our Bitcoin or Ethereum directly we need to send it to Binance. Click on “Send” to transfer and paste its address into the “Recipient Address” field.
- Next, you enter the amount you want to transfer. After this, you will land on the confirmation page, and after clicking on confirm the withdrawal process will take 30 to 60 minutes.
- After you have sent out the cryptocurrency you want to withdraw from Trust Wallet, you can now sell it for any fiat currency you want on Binance.
- For this, you have to navigate to “Buy and Sell Cryptocurrency” on Binance. And then select “I want to sell” furthermore enter the amount you want to sell.
- Next, select “Fiat Currency” in which you want to receive the amount on the “You will Receive Field”.
Then tap on Next for confirmation.
- Now that you have converted the cryptocurrency to FIAT Currency, you can withdraw the currency from your bank.
- When you withdraw you will be charged the withdrawal fees.
- But, if you do not wish to pay the withdrawal fees you will have to look for the option of Peer-to-Peer (P2P) so you can change your crypto for cash with another user.
This is a detailed step-by-step explanation of withdrawing money from the Trust Wallet.
Trust Wallet is an open-source platform that is available completely free with no charge of transaction fees. It’s as simple as that.