How to withdraw from Trust Wallet to PayPal? This guide explains the fastest route to convert crypto into cash by using the Coinbase option.
Trust Wallet is a significant factor in the decentralized Binance ecosystem. Moreover, where the BSC blockchain network is designed to handle transactions fast, Trust Wallet is the place to store your crypto tokens.
In fact, Trust Wallet is the official crypto wallet of Binance. With the Trust Wallet mobile app, you can send, receive and store Bitcoin and many other cryptocurrencies and digital assets safely and securely.
Besides, you can even use Trust Wallet to earn interest on your crypto, play blockchain games and access the latest dApps and DeFi platforms. Trust Wallet is a fast and secure multi-crypto wallet with Binance DEX support, designed for ease of use and perfect for storing crypto assets.
By continue reading this guide you will get all the answers you are looking for regarding Trust Wallet:
- How to withdraw from Trust Wallet to PayPal
- Know what to do before making crypto withdrawals
- Use the Coinbase cash-out option for PayPal
How To Withdraw From Trust Wallet To PayPal: Quicktake
In short, below are the necessary steps to cash out money from Trust Wallet to PayPal. Additionally, I assume you already have a Coinbase account and are using Trust Wallet on a mobile device. Overall, you have to do the following:
- Sent crypto from Trust Wallet to Coinbase
- On Coinbase, sell crypto for fiat(USD, EUR, GBP, etc)
- In ‘My Assets‘, choose ‘Cash out all‘ option
- Choose PayPal as cash withdrawal option
- Cash out to PayPal at zero fees 😁
The steps above are a quick take of the steps you must follow. Later on, in this guide, I’ll go into more detail by including screenshots. Spoiler: using the PayPal cash-out option at Coinbase, is the quickest way to convert crypto to cash within 24 hours.
Understanding Crypto Withdrawals
Trust Wallet is a multi-coin wallet and if you are using it on a regular basis then you already know that this wallet can be used on different blockchains. Moreover, besides Ethereum(ETH), Bitcoin(BTC), or BNB, you have several others coins that can be traded or used within dApps.
Even though Trust Wallet has a lot of interesting features, there isn’t a direct option to cash out crypto for money. To do this, you need a centralized exchange like Binance or Coinbase to achieve.
In other words, you need to withdraw your crypto to another platform first before you can cash out. How to do this properly?
Withdraw From Trust Wallet to PayPal
Again, when you want to cash out crypto from Trust Wallet by initiating a withdrawal, you need to send your funds elsewhere. Also, to receive the funds in your PayPal account you must find a platform that supports this.
Luckily in 2020, Coinbase and PayPal decided to team up. Where PayPal has been added as a cash-out option to the Coinbase platform. Below are the necessary steps to withdraw crypto from Trust Wallet to PayPal explained in more detail.
Step 1: Create an Account at Coinbase
First of all, you need to open an account which shouldn’t be a complicated step. On top of that, you can use this link to open a free account at Coinbase.
In short, Coinbase is a very popular crypto trading platform mainly focused on US customers. Also, it has millions of cryptocurrency traders using its platform on a daily basis. In addition to trading and wallet services, Coinbase also offers various other features such as a merchant payment gateway and educational resources for beginners to learn about the world of cryptocurrency.
Remember that crypto exchanges use custodian wallets for holding crypto and are subject to attack by hackers all the time. As a result, security is a top priority for them, and withdrawing to use PayPal requires you to verify(KYC).
In short, an account verification(KYC) process consists of the following:
- Upload official documents(passport, identity card, driving license, or else)
- Take pictures of both sides of the document
- Make a selfie
Step 2: Send funds from Trust Wallet
After you have finished the sign-up process at Coinbase it’s time to use your newly created profile in order to withdraw money.
The plan you might have is to swap crypto for money so you need to send crypto funds from Trust Wallet to Coinbase here. How to do this? Below are the necessary steps for Coinbase(using ETH as an example):
- In Coinbase above, click ‘Send & Receive‘
- Choose Receive tab, and click Bitcoin to search for ETH
- In the search bar, type ETH and choose Ethereum result
- Click ok and copy ETH address to clipboard
Next, go back to your Trust Wallet, enter your password to log in, and find your ETH funds.
Consequently, in order to transfer, click on ‘Send‘. Now tap on your ETH funds and paste the Coinbase ETH address from the clipboard into the Address or name ENS.. field.
Finalize the withdrawal of ETH funds from the Trust Wallet by giving the amount of ETH and approving the transaction.
Step 3: Receive ETH funds at Coinbase
As the Ethereum blockchain processes transactions very fast it’s just a matter of seconds of waiting before funds arrive in the Coinbase account. Just make sure that you have received the funds by going to your assets wallet on Coinbase.
On top of that, Coinbase will send you a notification message when the ETH funds have reached their platform.
Consequently, the withdrawal process for crypto from Trust Wallet to Coinbase has been finished. Additionally, we are ready to start the cash-out option for PayPal accounts on Coinbase.
Step 4: Trade ETH for USD on Coinbase
At this point, you can start selling ETH for fiat currency(USD, EUR, etc). All you have to do now on the platform is to go to ‘My Assets‘ and choose ‘Buy & Sell‘. It’s all very straightforward.
In the pop-up screen, find ETH, also make sure to choose USD as the fiat option and click on the ‘Sell‘ option. Simply enter the amount you wish to sell, click “Preview Sell”, and then hit the “Sell Now” button.
Next, after the platform has processed the transaction(which takes seconds) your wallet will be updated with the amount in USD.
Step 5: Withdraw Cash from Coinbase using PayPal
Finally, we have reached the level where you can transfer money to your PayPal account. Now go to your money account under “My Assets”. Next click on this to view the Cash Out option and select “Cash Out All”.
Click the continue button and a new screen appears that asks you to choose a destination for your cash withdrawal. You have the following options:
- Add a debit card
- Add a bank account
Next, you only have to confirm if you really want to withdraw to your PayPal account. Also, the screen shows you the details including the fee which is zero for PayPal withdrawals.
And this is how you withdraw from Trust Wallet to PayPal! Enjoy your profits and don’t forget to share this guide if it was helpful 😁
Withdrawing Cash from Coinbase using PayPal
As shown above, withdrawing cash from Coinbase is a straightforward process that can be done in just a few steps. You can withdraw cash directly to your bank account or use PayPal to transfer funds. If you choose to withdraw to your bank account, you’ll need to add your bank account details to your Coinbase account. Once your account is verified, you can initiate a withdrawal and the funds should arrive in your bank account within a few days.
Alternatively, using PayPal to withdraw funds offers a convenient and trusted option. You can link your PayPal account to Coinbase and transfer funds to your PayPal balance(for free). From there, you can easily withdraw the funds to your bank account or use them for online purchases. Overall, withdrawing cash from Coinbase is a seamless process that offers flexibility and choice for users.
FAQ – Withdraw From Trust Wallet to PayPal
Can You Directly Withdraw Money from Trust Wallet?
Unfortunately, there isn’t a direct way to transfer your funds from Trust Wallet to an external bank account. The main reason for this is that Phantom is connected to smart contracts and runs autonomously. At the moment, banks can’t deal with decentralized technology or non-custodial wallets.
As a result, it’s necessary to send your funds from Trust Wallet to a major cryptocurrency exchange to cash out from crypto. In other words, ‘to get money out of my Trust wallet’ you need a centralized crypto exchange like Coinbase.
How Do I Convert Crypto to PayPal?
As explained earlier in this guide, you can use Coinbase to sell your cryptos for money. After that, you can use the ‘cash out option‘ and choose PayPal as a destination.
Can I withdraw Crypto to PayPal?
Yes, it’s possible to withdraw crypto to PayPal directly. At the end of 2020, PayPal added crypto wallets to its platform. However, this option is only allowed for US customers and only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
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