How to Withdraw From Trust Wallet To Bank Account: The Complete Step-by-Step Guide

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Hey there! If you‘ve accumulated some valuable crypto in your Trust Wallet that you now want to cash out, I totally get it. Taking profits is an important part of any investment strategy. But withdrawing from a decentralized wallet like Trust can seem complex if you‘ve never done it before.

Not to worry! I‘ve helped thousands of beginner crypto investors withdraw their funds from wallets like Trust into their bank accounts. And today, I‘m going to hold your hand and walk you through the entire process step-by-step.

By the end of this guide, you‘ll be an expert on:

  • How to transfer crypto from Trust Wallet to a supporting exchange
  • Selling your crypto assets for fiat currency
  • Completing the fiat withdrawal to your connected bank account
  • Extra tips to make the process smooth and secure

This is going to be fun and easy, I promise! Now let‘s get your hard-earned crypto profits withdrawn like a pro.

Can You Withdraw Directly from Trust Wallet to a Bank?

First things first – Trust Wallet is a decentralized, non-custodial wallet. This means YOU control the private keys. Only you have access to your crypto funds in Trust Wallet, not any company or third-party.

This level of security is awesome. But the downside is that decentralized wallets like Trust don‘t support converting crypto directly into fiat currency like USD or EUR.

Trust Wallet also doesn’t connect directly with the banking system for withdrawals.

So you can’t simply withdraw Bitcoin from Trust Wallet directly to your Chase or Wells Fargo account. That’s where centralized crypto exchanges come in…

Bridging Trust Wallet and Centralized Exchanges

To cash out your Trust Wallet balance, you need to bridge the decentralized wallet with a centralized exchange that supports fiat withdrawals.

Popular exchanges that allow withdraws to bank accounts include:

  • Coinbase: Supports withdrawals to US bank accounts and EU banks via SEPA transfer.

  • Binance: Offers withdrawals to global bank accounts via SWIFT, SEPA, Faster Payments and more.

  • Kraken: Withdrawals to US, Canadian, and European bank accounts.

I recommend sticking to big, mainstream exchanges like these because they have the proper licenses, compliance, and banking relationships to make fiat withdrawals a breeze.

So in summary, to withdraw from Trust Wallet you’ll need to:

  1. Move your crypto from Trust Wallet to an exchange
  2. Trade your crypto for fiat currency on the exchange
  3. Withdraw those fiat funds to your connected bank account

Let‘s go through each step now…

Step 1: Transfer Crypto from Trust Wallet to Exchange

The first step is to transfer the crypto you want to cash out from Trust Wallet to your account on the exchange.

Here‘s how:

  1. Log into your exchange account and find your wallet address for the crypto you‘re transferring. For example, the BTC deposit address if sending Bitcoin.

  2. Open your Trust Wallet app and tap the token you want to send to the exchange.

  3. Tap “Send” and enter the withdrawal address from your exchange account. Triple check it matches EXACTLY.

  4. Enter the transfer amount and continue. Make sure you leave enough to cover network fees.

  5. Review all the details carefully. Then confirm the transaction.

  6. Wait for the transfer to complete before your funds show up in the exchange wallet. This usually takes 30 minutes up to a few hours, depending on traffic.

Once you see your former Trust Wallet balance in your exchange account – congrats, you‘ve completed Step 1! Now you‘re ready to trade for fiat…

Step 2: Trading Crypto for Fiat Currency

The next step is exchanging your crypto for fiat currency on the exchange so you can withdraw it to your bank.

Here are the steps for trading your crypto for fiat:

  1. Go to the trading page on your exchange and select the crypto you transferred from Trust Wallet.

  2. Enter the amount you want to sell and pick your fiat currency – e.g. USD, EUR, GBP.

  3. Place a market order to instantly convert at current prices, or use a limit order to set a target price. I recommend a market order when first starting out for simplicity.

  4. Double check all the order details look right, then click buy/sell to complete the trade.

Almost instantly, your crypto will be exchanged for the fiat currency you selected. For example, 1 BTC swapped into USD fiat, ready for withdrawing to your bank.

Now your crypto is converted to fiat, you just need to…

Step 3: Withdraw Fiat to Your Bank Account

This last step is all about initiating the withdrawal from the exchange to your connected bank account.

Coinbase Withdrawal

  1. Go to your USD wallet and select the bank account you want to withdraw to.

  2. Enter the amount of USD you want to withdraw.

  3. Review the details carefully then confirm the withdrawal.

It takes 1-3 business days for Coinbase withdrawals to reach your bank account.

Binance Withdrawal

  1. Go to Wallet > Fiat > Withdraw and pick your currency like EUR.

  2. Enter the amount to withdraw and select your withdrawal network – SEPA, SWIFT, etc.

  3. Input your bank details if not already saved.

  4. Review and submit the withdrawal request.

Binance processing times vary by network, but are usually between 1-5 days.

Once you’ve initiated the withdrawal, you just have to wait for the fiat funds to land in your bank account based on the delivery estimate.

And voilà! You‘ve successfully completed withdrawing your crypto from Trust Wallet all the way to your bank account. Well done!

Tips for a Smooth Withdrawal Process

To ensure everything goes off without a hitch, here are some pro tips:

  • Start by withdrawing a small test amount before moving your full balance, so you can get familiar with the process.

  • Triple and quadruple check the receiving address and other details when initiating transfers to avoid costly mistakes.

  • Stick to large, mainstream exchanges like Coinbase and Binance for withdrawals – they have the best banking support and regulatory compliance.

  • Withdraw early in the week to avoid delays from banks being closed on weekends.

  • Keep an eye on exchange withdrawal fees – they vary based on currency, amounts, and networks.

  • Make sure the exchange account and bank account are in the same name to prevent issues.

  • Consider taxes when cashing out large amounts of crypto – track capital gains and losses.

  • If you get stuck or lost at any point, don‘t fret! Reach out to the exchange or bank’s customer support for assistance.

Okay, we‘ve covered a ton of ground here today. Let‘s do a quick recap…

Withdrawing from Trust Wallet Recap

To successfully withdraw crypto from Trust Wallet to your bank account, follow these three key steps:

  1. Transfer Crypto – Send your crypto from Trust Wallet to an exchange account.

  2. Trade for Fiat – Convert your crypto to fiat currency on the exchange.

  3. Withdraw Fiat – Initiate a fiat withdrawal from the exchange to your bank account.

Then sit back and wait for the funds to hit your bank account in 1-5 business days.

See? Withdrawing from your decentralized Trust Wallet is totally doable when you bridge it to a centralized exchange.

Frequently Asked Questions

Let‘s go through some common questions about withdrawing from Trust Wallet:

Can I withdraw crypto directly from Trust Wallet to my bank?

No, you’ll need to go through an exchange as outlined in this guide. Trust Wallet does not support direct fiat withdrawals.

What are some good exchanges for withdrawing from crypto to fiat?

The top exchanges are Coinbase, Binance, and Kraken due to their regulatory compliance and banking relationships.

How long do exchange withdrawals to banks usually take?

It varies by exchange, currency, amounts, and destination bank but is usually between 1-5 business days.

Does Trust Wallet charge any fees when withdrawing crypto?

Trust Wallet does not charge withdrawal fees. However, blockchain network fees apply based on each token, like BTC miner fees or ETH gas.

Can I withdraw crypto from Trust Wallet to PayPal?

Unfortunately PayPal does not support direct crypto withdrawals currently. You’d need to withdraw to a bank account first.

Is there a maximum withdrawal amount I can transfer out of Trust Wallet?

No, there is no limit imposed by Trust Wallet. But exchanges may have daily/monthly withdrawal limits so always check with them.

What should I do if my withdrawal is stuck or not showing up?

First, check the status on the exchange you withdrew from and contact their customer support if needed. You can also reach out to your bank to see if they have any insight into when the funds will arrive.

Closing Thoughts

Phew, we really covered everything there is to know about withdrawing your hard-earned crypto profits from Trust Wallet into your bank account!

I hope this guide has taken the stress out of the process and given you confidence to successfully cash out your Trust Wallet balance.

As a quick summary:

  • You can‘t withdraw directly from Trust Wallet to fiat
  • Bridge your decentralized Trust Wallet to a centralized exchange
  • Transfer crypto to exchange, trade into fiat, then withdraw fiat to your bank

Let me know if you have any other questions! I‘m always happy to help fellow crypto enthusiasts.

Here‘s to profitable Trust Wallet withdrawals! 🥳


Written by Alexis Kestler

A female web designer and programmer - Now is a 36-year IT professional with over 15 years of experience living in NorCal. I enjoy keeping my feet wet in the world of technology through reading, working, and researching topics that pique my interest.