How to send ALGO coins from Binance to Trust Wallet? This guide explains in detail the new feature of Trust Wallet to withdraw tokens automatically.
Bought some ALGO tokens on Binance and want to use them on a decentralized exchange? Or maybe you want to send the tokens away from the exchange to a crypto wallet under your control? To do this, you need to withdraw your coins from Binance.
In general, to withdraw Algorand(ALGO) tokens from Binance, you have several options. The most common ways are using Metamask as a Chrome extension or using the Trust Wallet that is compatible with the BSC Binance blockchain.
This article will give some easy-to-follow steps including useful images, to help you withdraw your ALGO from Binance to Trust Wallet in no time.
Withdraw ALGO Coins From Binance to Trust Wallet: Quicktake
In short, below are the necessary steps to send Algorand tokens from Binance to Trust Wallet. Additionally, I assume you already have a Binance account and are using a mobile device. Overall, you have to do the following:
- Login on your Binance App
- Install Trust Wallet on your device
- Create a new wallet and write down the recovery phrase(key)
- Find ALGO token and choose ‘Deposit‘
- Click ‘Deposit from exchange‘ and start the withdrawal process
The steps above are a quick take of the steps you have to follow. Later on, in this guide, I’ll go into more detail by including screenshots. Spoiler: using Binance withdrawals within the Trust Wallet App, are the fastest and most easy to follow exercise!
Why use Trust Wallet
First of all, Trust Wallet is a beginner-friendly solution for those who want to know more about Defi, NFTs, and storing coins in general. Especially, the idea of having control over a wide array of tokens in the palm of your hand makes it very appealing.
Also, Trust Wallet is famous for using several dAPPs including PancakeSwap, AppolloX, WazirX, or LooksRare(NFTs). For example, if you want to trade your ALGO tokens on a DEX you can use Pancakeswap to swap any token for ALGO. All this will be executed on the underlying BSC blockchain network.
Trust Wallet and Binance withdrawals
Why use Trust Wallet for Binance withdrawals? Usually, when you want to send tokens away from the Binance exchange it takes some extra work. For instance, you have to use two apps at the same time(Binance and external wallet) and switch between them. On overall, the withdrawal process isn’t very convenient that’s why Trust Wallet integrated the Binance withdrawal process.
In other words, when using Binance withdrawals with Trust Wallet, the entire task can be done from within the App. In my opinion, this is a great step forward and prevents the following:
- Crypto withdrawals are risky and not refundable
- No more copy/paste long codes(public keys)
- No need to use the QR and switch between Apps or devices
Finally, using Binance withdrawals within the Trust Wallet App is a new feature. In addition, with this feature, there’s no need to worry about putting in the right address. It’s all done automatically for you.
How to Setup Trust Wallet
At the beginning of this guide, I explained to you shortly the process of creating a wallet on Trust Wallet. In this section, I’ll guide you step-by-step and also explain how to add the ALGO token to Trust Wallet in order to receive funds. Here we go 😁
- Go to the Trust Wallet homepage.
- Click the icon to download the app for your device.
- Open the app.
- Tap Create a new wallet.
- Check the box and tap Continue to accept the Terms of Usage.
- Take note of your recovery phrase.
- It’s important to keep this safe because anyone can use it to access your wallet.
- It’s not possible to take a screenshot of this screen.
- Tap Continue.
- Re-enter the recovery phrase to verify it.
- Tap Continue.
At this point, you are all set and can start using the Trust Wallet.
Withdraw ALGO coins from Binance To Trust Wallet
As mentioned earlier, crypto withdrawals from Binance when using Trust Wallet is an easy and automated process. Below are the steps you must follow:
- Make sure you are logged in at your Binance account
- Open Trust Wallet App
- Tap on Add Tokens
- Enter ALGO in the search bar and choose toggle green
- Tap Done
- Next tap ALGO in the Tokens list
- Tap Receive button
- Choose Deposit from Exchange below
- Tap Binance – Deposit from your Binance account
- The Binance App opens and asks you to Transfer ALGO
- Enter the amount of ALGO tokens
- Finally, click Confirm
In my opinion, this is a very smooth, quick, and safe solution that will help beginners in DeFi a lot. Moreover, you can’t make mistakes by choosing the wrong Blockchain network or dealing with copy/paste with the withdrawal address.
Finally, at this point, you are all set to use ALGO coins within your own wallet app. Also, you are ready to start using with trading on the Binance Chain. Good luck 😁
Conclusion: How To Withdraw ALGO coins From Binance with Trust Wallet
This brand new feature of Trust Wallet has made life a lot easier for beginning crypto traders that want to enter the Defi space. By offering an integrated solution in the Binance withdrawal process when using the Trust Wallet App. In short, the following issues have been solved:
- No need to switch between apps or devices
- Copy/paste of withdrawal address has become obsolete
- No more QR-scan
FAQ – Withdraw ALGO Coins From Binance
Can I withdraw from Binance to Trust Wallet?
Users can now transfer crypto assets from their Binance Crypto Wallet to their Trust Wallet app without any fees except for the gas fees or needing to scan/input a wallet address.
Are ALGO coins available on Trust Wallet?
Unfortunately, ALGO coins aren’t default available on Trust Wallet. However, after the wallet setup, you can very easily add the ALGO token in a few clicks.
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