So, you’ve been stacking up your crypto in Trust Wallet, and now you’re ready to cash out. Maybe you want to treat yourself to something nice, or maybe you just want to move your funds to a bank account. Either way, you’re probably wondering, “How to withdraw from Trust Wallet?”
Well, you’re in the right place! In this guide, we will walk you through how to withdraw money from Trust Wallet using different methods. Whether you want to send it to a bank account, or Cash App, or do it without Binance, we’ve got you covered.
Let’s dive in!
Can You Withdraw Money from a Trust Wallet to a Bank Account?
First things first, Trust Wallet doesn’t support direct withdrawals to a bank account. Since Trust Wallet is a decentralized crypto wallet, it only lets you store, send, and receive cryptocurrencies.
So, what’s the solution? You’ll need to send your crypto to a crypto exchange, convert it to fiat (USD, EUR, etc.), and then withdraw it to your bank account.
Now, let’s go step by step through different withdrawal methods.
How to Withdraw from a Trust Wallet to a Bank Account
If you want to withdraw money from Trust Wallet to your bank account, follow these simple steps:
Step 1: Choose a Crypto Exchange
Since Trust Wallet doesn’t allow direct bank withdrawals, you’ll need to send your crypto to an exchange that does. Popular choices include Binance, Coinbase, and Kraken.
Step 2: Transfer Crypto from a Trust Wallet to an Exchange
- Open Trust Wallet and select the crypto you want to withdraw.
- Tap Send and enter the wallet address from your exchange (e.g., Binance or Coinbase).
- Confirm the transaction and wait for the funds to arrive (this can take a few minutes).
Step 3: Sell Your Crypto for Fiat Currency
Once your crypto is in the exchange, follow these steps:
- Go to the Trade or Sell section.
- Choose the cryptocurrency you transferred.
- Sell it for USD, EUR, or your local currency.
Step 4: Withdraw to Your Bank Account
- Navigate to the Withdraw section of your exchange.
- Select Bank Transfer as your withdrawal method.
- Enter your bank details and confirm the transaction.
And that’s it! Your funds should arrive in your bank account within a few business days.
Pros:
- Safe and reliable
- Works with most exchanges
Cons:
- Takes a few steps
- Withdrawal fees may apply
How to Withdraw Money from Trust Wallet Without Binance
Not a fan of Binance? No problem! You can withdraw from Trust Wallet without Binance by using other exchanges like:
- Coinbase: Great for beginners, but higher fees
- Kraken: Secure and supports bank withdrawals
- KuCoin: Low fees, but not beginner-friendly.
The process is the same:
- Send your crypto from Trust Wallet to the exchange (use the exchange’s wallet address).
- Sell the crypto for fiat currency (USD, EUR, etc.).
- Withdraw the money to your bank account.
If you want to avoid exchanges altogether, peer-to-peer (P2P) trading is another option. You can use platforms like Paxful or LocalBitcoins to sell your crypto directly to a buyer who will send you cash.
Pros:
- Avoids Binance
- P2P options give you more control
Cons:
- Some P2P platforms require trust in buyers
- Exchange fees still apply
How to Withdraw from Trust Wallet to Cash App
If you use Cash App and want to move your crypto there, you’ll need to use Bitcoin (BTC) since Cash App only supports Bitcoin deposits.
Steps to Withdraw from Trust Wallet to Cash App
- Open Trust Wallet and select Bitcoin (BTC).
- Tap Send and enter your Cash App Bitcoin wallet address.
- Confirm the transaction and wait for the funds to arrive (this may take a few minutes).
- Once received, you can choose to keep it in the Cash App or sell it for USD.
If you want to withdraw the money to your bank account, simply cash out from the Cash App to your linked bank account.
Pros:
- Easy if you’re using Bitcoin
- Direct deposit into Cash App
Cons:
- Only works with Bitcoin
- Cash App may charge fees for withdrawals
How to Withdraw Money from Trust Wallet to PayPal
Want to send your crypto funds to PayPal instead of a bank? Here’s how:
Steps to Withdraw to PayPal
- Transfer your crypto from Trust Wallet to a crypto exchange that supports PayPal withdrawals (like Coinbase or Crypto.com).
- Sell your crypto for USD or another fiat currency.
- Select PayPal as your withdrawal method and confirm the transfer.
Once the money is in PayPal, you can use it for online purchases or withdraw it to your bank account.
Pros:
- Faster than bank transfers
- Easy PayPal integration
Cons:
- Not all exchanges support PayPal
- PayPal may charge withdrawal fees
Read on – Does Trust Wallet report to IRS
Conclusion
Withdrawing from Trust Wallet isn’t as simple as hitting a “Withdraw” button, but it’s totally doable once you understand the process. Whether you’re moving your funds to a bank account, Cash App, or PayPal, the key steps remain the same.
Now that you know how to withdraw from Trust Wallet, you’re ready to turn your crypto into real-world money! Just remember to check the fees and processing times before making a move.
ZenLedger can help you easily calculate your crypto taxes, and also find opportunities for you to save money and trade smarter. Get started for free now or learn more about our tax professional-prepared plans!
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide, tax, legal, or financial advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
