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| Trust Wallet logo Image source: investopedia.com |
How can I cash out from my Trust wallet account to bank? Since you are here, it is obvious you are looking to withdraw from your trust wallet account to bank. Well, we got your back. Here, we will teach you how to withdraw money from Trust wallet to bank account in Nigeria.
Many traders or users have accumulated a lot of crypto in their Trust wallet accounts. However, it has become become increasingly challenging to withdraw from Trust wallet to their bank accounts.
It is true you cannot directly withdraw money from your Trust wallet wallet to your bank account. This means that we will need a third party crypto exchange such as Binance to withdraw our Trust wallet to. Keep reading to discover how to withdraw from Trust wallet to your bank account in Nigeria.
How to Withdraw Money from Trust Wallet to Bank Account in Nigeria
Carefully read the instructions below to withdraw from your Trust wallet to your bank account:
1. Swap your Crypto to Binance
Since Trust wallet does not support direct withdrawal, you will have to withdraw it to another crypto exchange such as Binance. Once you have successfully transferred your crypto from Trust wallet to Binance, you can proceed to the next steps
2. Create a Binance account
If you do not have a Binance wallet, you will need to create and verify one. Binance is considered one of the best crypto exchange wallet to swap your trust wallet crypto to. Binance is also recommended because it allows you to withdraw your crypto directly to your bank account
3. Withdraw your crypto from Trust wallet to Binance
Since you have created your Binance account, the next thing is to transfer your coins from Trust wallet to Binance account. Follow the steps to complete this step:
- On your Trust Wallet app, navigate to the “Wallet” at the bottom
- Choose the crypto you would like to send and select “send”
- Log into Binance and “copy” the “receive” address
- Go back to Trust Wallet again and paste the address into the “Recipient Address”
- Enter the amount you wish to send and click “Max”
- Press on the “Next”
- Check to ensure your details are correct and proceed to transfer
Once you have initiated the transfer, your crypto will be transferred from your Trust wallet account to your Binance wallet where you can sell or withdraw to your bank account. This is the only indirect method to withdraw money from Trust wallet to your bank account in Nigeria.
How to Withdraw from Binance to a Bank Account
As I indicated earlier, Binance is the preferred crypto exchange to transfer your crypto from Trust wallet to. Once you have successfully withdraw to your Binance account, you can now follow the steps below to withdraw to your bank account:
- Log into your Binance account with your credentials
- Navigate to the “Withdraw” tab
- Choose “fiat” to convert your crypto to cash
- Select currency and method of payment
- Enter the amount of cash you wish to withdraw
- Enter your bank account, full name, swift number, and other necessary information
- Follow the remaining steps to withdraw
After withdrawing, it usually takes a few days to receive your money into your bank account depending on your location. In the US, it usually takes less than 48 hours.
FAQs
Here are some frequently asked questions about withdrawing from Trust wallet to bank account:
Can I withdraw money from Trust wallet to bank account?
It is currently not possible to directly withdraw from Trust wallet to your bank account. You will need to first of swap your token to Bitcoin on the Trust wallet platform and then send them to a popular cryptocurrency exchange such as Binance.
How do I withdraw from Trust wallet to bank account?
To withdraw money from Trust wallet to your bank account, you will need to first of all swap your token for Bitcoin on the trust wallet app, and then send them to Binance where you can then withdraw to your bank account.
Unlike other crypto exchanges, Trust wallet does not allow users to trade from crypto to fiat or local currencies such as Naira, Cedi, or USD. There transferring your crypto to a platform such as Binance is the only way to withdraw money from Trust wallet to your bank account in Nigeria.
Can I withdraw from Trust wallet to bank account without Binance?
Yes, you can withdraw money from Trust wallet to your bank account without Binance. You can use other popular and supported cryptocurrency exchanges such as Coinbase, Blockchain.com, and others. Binance is however recommended since it support fiat and other several withdrawal features.
What is Trust Wallet?
Trust Wallet is one of the popular digital wallet that allows users to buy, send, receive, and store digital currencies. It was bought by Binance, one of the popular and largest cryptocurrency exchange platforms in the world. The platform has supports wide range of cryptocurrencies.
Both Android and iOS users can download and install Trust wallet app. It also has strict security systems that give customers the assurance of safety of their cryptocurrencies.
Final statement
You can directly cash out money from your Trust Wallet account to your bank. The feature is currently not available on Trust wallet app. However, you can transfer your crypto to Binance where you can withdraw to your bank account.
We hope you have understood how to withdraw money from Trust wallet to bank account in Nigeria. If you have any other question related to withdrawing from Trust wallet to your bank account, you can drop your question in the comments section.