How to withdraw BNB from Trust Wallet to bank account? This guide explains the fastest route to convert BNB into cash by using Binance app.
Do you have some BNB tokens stored in the decentralized Trust Wallet? Also, are you looking for a way to cash them out, and are looking for the exact steps to achieve this? You have come to the right place!
In recent years, the cryptocurrency markets have witnessed massive growth where the options for earning crypto have become countless. Besides trading on centralized crypto exchanges like Binance or Coinbase, you also have decentralized crypto exchanges and web3 apps. For using these decentralized platforms you need a web3 wallet like Trust Wallet or Metamask.
In particular, there is Trust Wallet a popular non-custodial crypto wallet to manage your crypto portfolio. Nonetheless, what to do if you want to sell a part of your crypto portfolio for ‘real cash‘. In other words, how to withdraw funds from Trust Wallet?
By continue reading this guide you will get all the answers you are looking for regarding Trust Wallet:
- How to withdraw BNB from Trust Wallet to bank account
- Know what to do before making crypto withdrawals
- Use the Binance platform to withdraw to your bank account
Withdraw BNB From Trust Wallet To Bank Account: Quicktake
In short, below are the necassery steps to cash out crypto from Trust Wallet. Additionally, I assume you already have an existing Binance account and are using Trust Wallet on a mobile device. Overall, you have to do the following:
- Sent crypto from Trust Wallet to Binance
- On Binance, sell BNB for fiat(USD, EUR, GBP, etc)
- Link your bank account to Binance
- Use the cash balance to withdraw to your bank
The steps above are a quick take of the steps you have to follow. Later on in this guide, I’ll go more into detail by including screenshots. Remember that I use Binance as an example in this guide, however, you can use the same procedure for any other crypto exchange as well.
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 other coins that can be traded or used on different blockchains.
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 this.
In other words, you need to withdraw your crypto to another platform first before you can cash out. How to do this properly?
How do I Withdraw BNB from Trust Wallet
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 bank account you must find a platform that supports this.
To continue with this guide, I’ll use Binance as a practical example, however, it’s up to you to decide what kind of exchange to use here.
Step 1: Create an Account at Binance
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 on Binance account.
In short, Binance is a very popular crypto trading platform with the highest trading volumes on a global scale. On a daily basis, it has millions of cryptocurrency traders and investors. In addition to trading and wallet services, Binance 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 BNB from Trust Wallet 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 Binance it’s time to use your newly created profile in order to withdraw cash from Trust Wallet.
The plan you might have is to swap crypto for the money so you need to send crypto funds from Trust Wallet to Binance here. How to do this? Below are the necessary steps for Binance(By using the Binance app on my iPhone):
- In Binance below, click the yellow arrows icon
- Next, click on the Deposit option
- Make sure you have the Crypto tab and search BNB
- Choose BNB and then the BNB Smart Chain(BEP20) option
- Click ok and copy BNB address to clipboard
Next, go back to your Trust Wallet, enter your password to log in, and find your BNB funds.
Consequently, in order to transfer, click on ‘Send‘. Now tap on your BNB funds and paste the Binance BNB address from the clipboard into the Send to Binance address field.
Finalize the withdrawal of BNB funds from Trust Wallet by giving the amount of BNB and approving the transaction.
Step 3: Receive BNB funds at Binance
As the Binance Smart Chain processes transactions very fast it’s just a matter of seconds waiting before funds arrive in the Binance account. Just make sure that you have received the funds by going to your assets wallet on Binance.
On top of that, Binance will send you a notification message when the BNB funds have reached their platform.
Consequently, the withdrawal process for crypto from Trust Wallet to Binance has been finished. Additionally, we are ready to start the withdrawal process to cash out BNB for money on Binance.
Step 4: Trade BNB for fiat on Binance
At this point, you can start selling BNB for fiat currency(USD, EUR, etc). All you have to do now on the platform is to go back to the Binance app and sell the BNB tokens for cash. Below are the simple steps to achieve this:
- In Binance below, click the yellow arrows icon
- Click the Sell option
- Give the amount of BNB you want to sell
- Next, choose the destination of the cash
- Finally, Binance confirms the sale
Binance will process this transaction instantly and the cash is available in your wallet. Also, go to your wallet to check this first(Click ‘Go to Wallet’).
Step 5: Withdraw Cash from Binance to your Bank
Finally, we have reached the level where you can transfer money to your bank account. Now go to your profile and find the option Payment methods. By choosing this option you can adjust your payment settings. Additionally, it all depends on your local situation and you can add your bank account information here.
Consequently, when you have added your bank account, it’s time to initiate a cash withdrawal from Binance. In short, you will have to do the following:
- In the App find your cash balance
- Click on the grey Withdraw button
- A new screen appears that asks you to withdraw(choose Bank Transfer)
- Finish the bank transfer
Particularly, the screen for adding a bank account differs and depends on your local situation. As I’m Brazilian I can only add a BRL bank account here.
However, if you are from the US or some other country in the world, you’ll will be able to add your local bank here.
Next, just follow the steps by adding the necassery details including verifications steps to link your bank account to Binance.
Finally, if everything went well you can finalize the withdrawal process and receive the cash within a day on your bank account!
And this is how to withdraw BNB from Trust Wallet to bank account! Enjoy your profits and don’t forget to share this guide if it was helpful 😁
FAQ – Withdraw BNB From Trust Wallet to Bank Account
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 Trust Wallet is connected to a blockchain network 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 Trust Wallet’ you need a centralized crypto exchange like Coinbase.
Is Trust Wallet Trustworthy?
Trust Wallet provides solid security features, and it doesn’t store any user passwords, data, or seed phrases on its servers. All that information is stored on your device where you’ve installed Trust Wallet. Meaning, you are in charge of your funds and this makes it a safe way to store crypto.
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