How To Withdraw Money From Trust Wallet [Without Binance]

Do you have some exotic crypto tokens stored in the decentralized Trust Wallet? Also, are you looking for a way to cash them out, but you can’t use the Binance exchange for this?

In recent years, the Binance crypto exchange witnessed massive growth and has become the biggest crypto platform worldwide. However, because of this growth, it also has to deal with local regulation policies. For example, in the US, Canada, and some countries in Europe it’s very hard to create an account on this platform.

Additionally, 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 money from Trust Wallet without Binance
• Know what to do before making crypto withdrawals
• Use the Coinbase platform to withdraw to your bank account

Withdraw Money From Trust Wallet Without Binance: Quicktake

In short, below are the necassery steps to cash out crypto from Trust Wallet. Additionally, I assume you already have an existing 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
• Link your bank account to Coinbase
• Withdraw money to 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 Coinbase 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?

Withdraw From Trust Wallet to Bank Account

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 Coinbase 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 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.

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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:

1. Upload official documents(passport, identity card, driving license, or else)
2. Take pictures of both sides of the document
3. 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 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 Coinbase here. How to do this? Below are the necessary steps for Coinbase(using ETH as an example):

1. In Coinbase above, click ‘Send & Receive‘
   
2. Choose Receive tab, and click Bitcoin to search for ETH
   
3. In the search bar, type ETH and choose Ethereum result
4. 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 Send to Ethereum address field.

Finalize the withdrawal of ETH funds from the Trust Wallet by giving the amount of ETH and approving the transaction.

Pay Attention: ETH can be sent across multiple blockchain networks in different token formats(ERC20, BEP20, and others). In this particular example, you need to send ETH as an ERC20 token.

Step 3: Receive ETH funds at Coinbase

As the Ethereum blockchain processes transactions very fast it’s just a matter of seconds 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 withdrawal process to cash out crypto for money 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 to your Bank

Finally, we have reached the level where you can transfer money to your bank 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
• PayPal

If you just created a new account on Coinbase you have to link your bank account first. Therefore, choose the second option: Add a bank account. (*skip this step if you already did this).

Particularly, the screen for adding a bank account differs and depends on your local situation. As I’m an EU habitant I can only add an EURO bank account here.

However, if you are from the USA or some other country outside the Eurozone, you 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 Coinbase.

Finally, if everything went well you can finalize the withdrawal process and receive the cash within a few days on your bank account!

And this is how to withdraw money from Trust Wallet without Binance! Enjoy your profits and don’t forget to share this guide if it was helpful 😁

👉 Get a free account at Coinbase here

FAQ – Withdraw Money From Trust Wallet without Binance

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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