Trust Wallet is an innovative cryptocurrency wallet that provides a seamless channel for users to navigate Web3, Dapps, cryptocurrencies, NFTs, and crypto assets. It allows users to manage crypto assets that include buying, selling, staking, transferring, and importing crypto tokens between different blockchains. It allows users to convert their digital currency into fiat money, allowing transfers to centralized exchanges (CEX) such as Binance, Coinbase, WazirX, or others, and eventually withdraw it into their bank account.
When your crypto is on an exchange, you can sell it for fiat and withdraw the money to your bank account. If you are new to Trust Wallet and have no idea how to withdraw money directly to your account, then do not worry. This write-up provides you with complete guidance on how you can turn crypto into fiat and withdraw it into your bank account. So let’s get started!
Withdraw Crypto to Another Wallet
If you’re sending crypto to another personal wallet or a friend, here are some simple steps you need to follow:
- Open Trust Wallet using the extension or the App
- Tap the token you want to withdraw (e.g., BNB, ETH)
- Tap “Send.”
- Enter the recipient’s wallet address
- Enter the amount
- Tap “Continue” > Review and Confirm
Note: Make sure the recipient supports the same network (e.g., BEP20 for BNB).
Withdraw to a Centralized Exchange (e.g., Binance, Coinbase)
You can also withdraw your crypto tokens to a Centralized Exchange (CEX) to convert them to fiat currency. Here are some simple steps that help you withdraw crypto to a centralized exchange.
- Go to your exchange (e.g., Binance) and copy your deposit address for that token and network.
- In Trust Wallet > Select token > Tap “Send”
- Paste the exchange deposit address
- Choose the correct network (e.g., BEP20, ERC20)
- Confirm the transaction
- Always double-check network compatibility to avoid loss of funds.
Convert to Fiat (INR, USD, etc.)
Once you have successfully withdrawn the cryptocurrency to CEX, you can turn it into fiat currencies. To withdraw your cryptocurrencies to the Centralized Exchange, you can look at the second method mentioned above titled: Withdraw to a Centralized Exchange (e.g., Binance, Coinbase). Once you have completed the second process, you can move on to withdraw the money into your account. Here is how you convert cryptocurrency to fiat.
- Send your crypto (like USDT or BNB) from Trust Wallet to an exchange like Binance (globally), WazirX, CoinDCX (for India), or Coinbase (US and other countries).
- On the exchange, you sell your crypto for fiat.
- After this, you can withdraw fiat to your bank account.
Note: You may need to complete KYC with the exchange before withdrawing to the bank.
Withdraw Fiat From CEX to the Bank Account
- Go to Wallet > Withdraw / Payout
- Select Fiat Withdrawal
- Enter your bank account details
- Enter the amount to withdraw
- Confirm the withdrawal
What Safety Measures do I Take During Withdrawal in Trust Wallet?
Taking robust security measures is highly essential to successfully withdraw money and complete other transactions in your Trust Wallet app. Crypto transactions, especially on blockchains, are irreversible and untraceable. One small mistake can cause you to lose your account and valuable assets in it. Hence, you have to be very careful and all alert while completing the transactions. Here are some effective safety measures that you should observe during your Web3 browsing and crypto transactions:
Double-Check Wallet Addresses
Always verify the recipient wallet address or exchange deposit address. A single wrong character can lead to a permanent loss of funds. To avoid the mistake, you should copy the address carefully and paste it into the right window. Always make sure you use the correct blockchain network.
Beware of Phishing Links
Be careful while clicking the URLs and links attached in WhatsApp, emails coming from unknown and suspicious sources. Trust Wallet does not send emails or DMs to complete the transaction process.
Avoid Public Wi-Fi
Using a secure internet connection is highly important to secure your online activities and safely complete your crypto transactions. Public wifi is often manipulated and tampered with by cybercriminals to steal data, passwords, and personal details of users. Make sure you use a secure, private connection or a VPN to protect your ID, accounts, and device locations from the black hats. Securely complete the online transactions.
Verify Transaction Details
Before you hit “Send” or transfer your crypto assets on the blockchain, make sure you double-check all the details like Token type, Amount, Network, and Recipient address.
Beware of Fake Apps & Extensions
Always use the official Trust Wallet app from https://trustwallet.com. You should avoid browser extensions claiming to be Trust Wallet. There are a lot of fake apps and websites available on the internet. Simply clicking them can land you in trouble. They are created to take your account details, like the secret recovery key and the passwords.
Protect Your Recovery Phrase
- Never share your 12-word seed phrase with anyone, not even the Trust Wallet staff.
- Store it offline in a safe, secure location.
Be Aware of Scams
- Do not follow advice from strangers on Telegram, WhatsApp, or YouTube promising guaranteed returns or “fixes” for stuck funds.
- Trust Wallet will never contact you personally for help or troubleshooting.
