How to Withdraw from Trust Wallet in 4 Steps (2024)

• REIN Digital
• July 8, 2024
• Trading and Investing

The cryptocurrency world has grown incredibly fast, making secure storage solutions essential for investors. Trust Wallet, launched in 2017 by Viktor Radchenko, is a top choice for managing and storing cryptocurrencies. Originally designed for Ethereum tokens, it now supports many cryptocurrencies.

Trust Wallet is user-friendly, suitable for both beginners and experienced users, and connects with decentralized apps (dApps) for more crypto uses. Acquired by Binance, the largest crypto exchange, Trust Wallet is now even more reliable and secure.

It supports various cryptocurrencies like Bitcoin, Ethereum, and Binance Coin, making it a versatile and trusted wallet for all your crypto needs. In this guide, we will share how to withdraw from Trust Wallet. Let’s get started.

About Trust Wallet

Trust Wallet was launched in November 2017 by founder Viktor Radchenko as a noncustodial cryptocurrency wallet designed primarily for Ethereum tokens. Initially, it aimed to provide users with a secure and straightforward way to manage their ERC20 tokens.

In July 2018, Trust Wallet was acquired by Binance, the largest cryptocurrency exchange by trading volume. This acquisition aimed to enhance Trust Wallet’s security and reliability while integrating it into Binance’s ecosystem of services.

Features and Benefits

• User-Friendly Interface: Designed for both beginners and experienced users, Trust Wallet offers an intuitive interface that simplifies the process of buying, selling, and storing cryptocurrencies.
• Integration of dApps: Trust Wallet enhances usability by integrating decentralized applications (dApps), allowing users to access a variety of blockchain-based services and decentralized finance (DeFi) platforms directly from the app.
• Wide Cryptocurrency Support: Supports a broad range of cryptocurrencies, including ERC20 and ERC223 tokens, Bitcoin (BTC), Ethereum (ETH), and numerous altcoins, enabling users to manage diverse digital assets within a single wallet.
• NonCustodial Security: As a noncustodial wallet, Trust Wallet gives users exclusive control over their private keys and funds, ensuring security and preventing unauthorized access to assets.
• CrossPlatform Accessibility: Available as a mobile app for iOS and Android devices, as well as a web browser extension, Trust Wallet offers seamless access to cryptocurrency management tools across multiple platforms.
• Trusted Integration with Binance: Acquired by Binance, Trust Wallet benefits from enhanced security measures and integration with Binance’s ecosystem, providing users with additional features and liquidity options.
• Community and Development Support: Continuously updated and supported by a dedicated team, Trust Wallet maintains a strong community presence and fosters ongoing development to meet the evolving needs of cryptocurrency users.

Can You Withdraw Funds Directly from Trust Wallet?

Before we know how to withdraw from Trust Wallet, we should know if we can withdraw from Trust Wallet at all. Direct fiat withdrawals directly from Trust Wallet are not possible.

Trust Wallet operates as a non-custodial wallet, which means it does not hold onto your funds or personal information. Instead, it provides a secure environment for managing and storing your cryptocurrencies. This setup ensures that you have complete control over your assets and can access them anytime.

Alternative Withdrawal Methods

To withdraw funds from Trust Wallet, you would need to use a third-party cryptocurrency exchange that supports fiat withdrawals. These exchanges act as intermediaries where you can exchange your cryptocurrencies for fiat currency like USD, EUR, or other local currencies, which can then be transferred to your bank account.

Popular exchanges that support fiat withdrawals include:

• Binance: As one of the largest cryptocurrency exchanges globally, Binance supports a wide range of cryptocurrencies and fiat pairs, making it convenient for converting your crypto assets into fiat currency.
• Coinbase: Known for its user-friendly interface and availability in multiple countries, Coinbase allows users to buy, sell, and convert cryptocurrencies into fiat currencies seamlessly.

Using these exchanges, you can sell your cryptocurrencies stored in Trust Wallet for fiat currency and then initiate a withdrawal to your bank account.

This process provides flexibility and convenience while ensuring compliance with local regulations regarding cryptocurrency transactions and withdrawals.

Always verify the exchange’s withdrawal fees and processing times before proceeding with your transaction.

Best Exchanges to Withdraw from Trust Wallet

When it comes to withdrawing funds from Trust Wallet to fiat currency, using a reputable cryptocurrency exchange is essential. Here are some of the best options available:

1. Binance

Binance, founded in 2017 by Changpeng Zhao, has grown to become one of the largest cryptocurrency exchanges in the world. Known for its extensive range of supported cryptocurrencies and robust trading platform, Binance offers a secure environment for buying, selling, and trading digital assets.

2. Coinbase

Coinbase, launched in 2012 by Brian Armstrong and Fred Ehrsam, is one of the largest cryptocurrency exchanges based in San Francisco. It is renowned for its user-friendly interface and accessibility across multiple countries.

How to Withdraw from Trust Wallet – Step-by-Step Guide

Step 1: Access Your Trust Wallet and Swap Tokens

• Open Trust Wallet: Launch the Trust Wallet application on your mobile device or web browser extension.
• Select Tokens for Withdrawal: Identify the cryptocurrencies you wish to withdraw from Trust Wallet. For example, if you intend to transfer to Binance, consider swapping your tokens to a compatible currency like Binance Coin (BNB).
• Swap Tokens: Within Trust Wallet, initiate the token swap process. Select the tokens you want to exchange for BNB or another compatible currency. Enter the amount you wish to swap and confirm the transaction.

Step 2: Withdraw from Trust Wallet to Binance

• Initiate Withdrawal: Navigate back to the Trust Wallet dashboard after completing the token swap.
• Select BNB: Choose BNB from the list of available cryptocurrencies within Trust Wallet for withdrawal.
• Enter Binance Deposit Address: Trust Wallet will prompt you to enter the deposit address of your Binance account. This address is where you will send your BNB tokens.

Step 3: Go to Binance

• Log into Binance: Access the Binance platform through your preferred method (web or mobile app).
• Find Deposit Address: Navigate to the deposit section of your Binance account and locate the BNB deposit address. Copy this address to proceed with the withdrawal process.

Step 4: Withdraw the Crypto

• Paste Binance Address: Return to Trust Wallet and paste the Binance deposit address into the provided field.
• Confirm Transaction: Double-check the deposit address to ensure accuracy. Enter the amount of BNB you wish to send to Binance.
• Complete the Transaction: Confirm the withdrawal transaction on Trust Wallet. Once confirmed, the BNB tokens will be sent from Trust Wallet to your Binance account.

These steps answer the question of how to withdraw from Trust Wallet. Always verify addresses and transaction details to avoid errors or potential security risks.

Conclusion

To withdraw funds from Trust Wallet, you need to first swap your tokens for a cryptocurrency like BNB. Then, send these tokens to a trusted exchange such as Binance.

Once your tokens are on the exchange, you can convert them to regular money and withdraw it to your bank account. Using well-known exchanges is important for keeping your transactions safe and secure.

Always double-check addresses and be aware of any fees.

Pick the method that works best for you to make sure everything goes smoothly.

By following these steps and using reliable platforms, you can easily and safely manage and withdraw your crypto funds.

FAQs