How To Sell Crypto On Trust Wallet And Withdraw To A Bank

The easiest way to get money from Trust Wallet into your bank account is to use a well-known centralized cryptocurrency exchange that supports sales, conversions, and withdrawals. Once you send your tokens to the exchange, you can sell them for your local currency, and withdraw the funds to your bank. Peer-to-peer transactions are like selling goods online—you’ll be selling tokens to another human who will send you your preferred currency in return. But like selling items to strangers, peer-to-peer sales are risky unless you know and trust the buyer. Using a peer-to-peer service like LocalBitcoins can slightly reduce the risk, but only if you chose a payment method that can’t be reversed. [1] X Research source We’ll focus on cryptocurrency exchanges in this article, as they’re the safest route.

For example, if you want to sell BNB for US dollars (USD), you’ll need an exchange that includes the “BNB/USD” trading pair. Some tokens aren’t easy to swap with USD and other currencies. But don’t worry—if you have an obscure meme coin like Safemoon, you can swap it in Trust Wallet for BNB, which is supported by most major exchanges. Once converted to a more common currency, you can send it to a centralized exchange, sell it there, and then withdraw the funds.

Binance is the world’s most popular cryptocurrency exchange and also happens to own Trust Wallet. However, the standard Binance site is not available in the United States. If you’re in the United States and want to use Binance, visit Binance. us instead. Some other popular exchanges with fiat offramps are Coinbase, Crypto. com, Kraken, and Gemini.

After signing up, add your bank account information to the exchange. Depending on the exchange and your bank, it may take a few days to link your bank account. However, most exchanges now allow you to link debit cards or use services like Plaid to quickly connect your account without a long verification process.

Keep in mind that your exchange wallet contains multiple deposit addresses, and you will need to copy the address for the correct token. For example, if you want to sell your ETH for cash, you’ll need your ETH deposit address—not your Bitcoin or BNB address. Depending on the token, you may need to choose a network before you can copy your wallet address. For example, there are two types of BNB in Trust Wallet—Binance Beacon Chain (BEP-2), and Binance Smart Chain (BEP-20). If you’re sending the BNB that’s on Binance Smart Chain to the exchange, you’d need to select the Binance Smart Chain network to get the correct deposit address. [3] X Research source If you do not choose the proper network, you will lose your tokens.

Some tokens that require memos are BNB, ATOM, EOS, HBAR, XEM, XRP, XLM, STX, ALGO, ANC, BLUNA, LUNC, and all BEP-2 tokens on Binance Beacon Chain. [4] X Research source

If there was a memo listed in the exchange, copy the memo from the exchange, then paste it into the “Memo” field in Trust Wallet. If no memo is required, leave the Memo field blank.

Keep in mind that all transactions incur fees. If the token you’re sending requires a different token for fee payment (for example, ERC20 tokens require ETH for gas fees), you’ll need to have the fee-paying token in your wallet as well. For other tokens, such as ADA, the fees are paid from the token itself—Trust Wallet will deduct those fees from the amount you’re sending. If you don’t have enough to cover the fees, you’ll see a message telling you how much you’ll need. Once you buy that amount of the required token, you’ll be able to make your transaction.

Depending on your change, you may see a notification or an email message alerting you that your tokens were received. It can take anywhere from a few minutes to a few hours for the tokens to arrive depending on the token you’re sending and its associated network conditions.

Some exchanges, including Coinbase, have quick Swap options that instantly exchange tokens at the current market value. Others may require you to select a price at which to sell your tokens and wait for the sale to complete. Additional fees may apply for swapping and exchanging tokens on your exchange.

The DEX is handy when you have an obscure token and want to convert it to your local currency and withdraw it to your bank account. You can swap the obscure token for something your favorite exchange supports (such as BNB, BTC, or ETH), send it to that exchange, and then sell it for your local currency.

Swap: This is the easier of the two swap methods, which lets you exchange one coin for another at the best market rate. Exchange: If you want to specify a selling price rather than just swap at market rate, you can use this tab to exchange one crypto for another at your preferred rate.

If you’re using Swap, select the token you want to sell from the first menu, and the one you want in return from the second. Then, select the amount you want to swap. If you’re using the Exchange, tap the Sell tab, choose the token you want to sell, and the token you want in return. Then, enter the desired amount and price. The exchange rate will appear below the selected tokens. If you don’t see the token you want to sell, it’s likely a more obscure token. You can use a different DEX like PancakeSwap to make the swap, which will work similarly to using the swap feature of Trust Wallet. To connect PancakeSwap on Android, tap Dapps in Trust Wallet, select PancakeSwap, and tap Connect. On iPhone/iPad, tap Browser and go to https://exchange. pancakeswap. finance. Then, tap Connect > WalletConnect > Trust wallet.

Keep in mind that all transactions, including sales, incur fees. If you’re using Swap to swap a token that requires a different token for fee payment (for example, swapping ERC20 tokens requires having some ETH), you’ll need to have enough of that token to cover the swap fees. If you don’t have enough to cover the fees, you can purchase the necessary tokens in Trust Wallet. Once the swap is complete, the new tokens will appear in Trust Wallet.

To send or exchange ERC20 tokens on the Ethereum network, you’ll need to have ETH in your wallet. Fees are called “gas” on Ethereum. For BEP-2 tokens on the Binance Chain, you’ll need some BNB in your wallet. For BEP-20 tokens on the Binance Smart Chain, you’ll need Smart Chain BNB in your wallet. For TRC-10 and TRC20 tokens on the Tron chain, you’ll need to have some TRX. For VET and VeThor tokens, you’ll need to have VTHO tokens.

Bitcoin Fee Calculator: https://estimatefee. com Ethereum Gas Calculator: https://ethgasstation. info