How to Withdraw Money from Trust Wallet safely (2021)

A short, safe and simple guide to withdrawing money from your cryptocurrency holdings via the Trust Wallet app.

Bradley Mills

Editor at Buy Bitcoin Finder

How to Withdraw Money from Trust Wallet to Bank Account

Trust Wallet is one of the top wallets used particularly by those who use Ethereum or Binance Smart Chain tokens. 

If you are one of them, you may at some point be looking for how to withdraw money from Trust Wallet to a bank account. 

This guide describes how you can do this and convert your tokens to fiat money you can spend.

Trust Wallet Withdrawal Guide

First, you should know that some tokens cannot be withdrawn from Trust Wallet directly. However, they can be easily swapped with more popular ones such as Ethereum and BNB. 

So, if you wish to easily withdraw from your Trust Wallet account to your bank account, follow the following steps.

Step 1: Swap your token for ETH or BNB

This can be easily done as Trust Wallet allows seamless swapping of supported tokens and coins. The reason you want to swap to ETH or BNB is because the liquidity is very high for these tokens across many exchanges.

Step 2: Send ETH or BNB to an exchange

Trust Wallet has a relationship with Binance, so it may be helpful to send to Binance. Simply hit the "Send" button from Trust Wallet as shown below.

This can be easily done by going to Binance and copying the wallet address of the cryptocurrency you wish to send to the exchange. Take it to Trust Wallet and use it as the receiving address. 

It is assumed that you already have a Binance account. If you don’t have one, you can create it to get started. You may be required to verify your identity before you complete the whole withdrawal process.

After creating the account, log in and on your dashboard, place your pointer on “Wallets. You will see a drop down list, click on “Fiat and Spot”. This will take you to the list of all cryptocurrencies available on Binance. Scroll to the one you want to send or you can type the name in the little search bar at the top of the list. 

To the right of the cryptocurrency, you will have options including “Deposit”. Click on it and copy the address displayed. This is the address you will send the cryptocurrency to from Trust Wallet.

Step 3: Sell the Crypto for Fiat

This is an easy process once your cryptocurrency gets on Binance. You can simply swap it with the fiat currency of your choice. 

To the right of the cryptocurrency, click on “Convert”. A dialogue box will open at the top of the page. In the “From” field, click and select the right cryptocurrency from the list. 

In the “To” field, select your fiat currency of choice and click on “Preview Conversion”. It will show you how much of the currency you will receive from the cryptocurrency conversion. 

If you are comfortable with the rate, click on “Convert” and your cryptocurrency will be converted to fiat currency.

Step 4: Withdraw to Bank Account

Now that you have your fiat currency, the next step is to withdraw it to your actual bank account. 

Assuming you converted to Euro, Euro will come to the top of the list on your fiat and spot wallet. 

To the right of it, click on “Withdraw”. This will take you to a page where you will enter how much you wish to withdraw and the withdrawal method. 

After entering the amount, it will show you how much you will receive after transaction fees are  deducted. 

After that, click on “Continue” and it will take you to another page where you will confirm the transaction using security codes sent to your phone and registered email. 

Once confirmed, you only need to wait to receive the money in your bank account.

Another way that you can easily sell your cryptocurrency for fiat currency without having to go through this long process is to use Binance’s Peer-to-Peer market. 

With it, you can send the cryptocurrency (BNB or ETH) to someone willing to buy and the person will send you the fiat equivalent depending on the exchange rate at the time.

You will need to set up a P2P account with details such as your bank account number where you wish to receive payments. 

The above method of  withdrawal may take up to an hour to receive money in your bank account. 

P2P transactions on the other hand can take just a few minutes if the buyer is readily available to send you the money. 

This is the process involved in withdrawing from your Trust Wallet to your bank account.

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