On the “Currency” field, select the currency that you want to withdraw to your bank account (e.g. USD). The recommended payment methods are “Bank Transfer (SEPA)”, “Bank Card (Visa)” or “Silvergate Bank (SWIFT)”. For investors considering the best place to sell Binance Coin, we suggest using the Binance platform.
Hopefully, they will be able to incorporate a withdrawal feature in the future. The current process will require you to use a combination of platforms to withdraw money from Trust Wallet to a bank account. Binance is one of the safest and most secure cryptocurrency exchanges, but you still shouldn’t keep your money there for long. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. In short, Poloniex is one of the few exchanges that supports BNB tokens and a marketplace to sell into USDT.
Simply copy the wallet address and send it to the external source, where the funds will be sent to the Binance wallet. The funds will be found in the Binance Spot wallet once the transaction is completed. To sell BNB for fiat, an investor simply needs to deposit their BNB into the platform (if they don’t have it there already.) The next step is to visit the ‘Sell’ feature. Once there, the user must select the ‘ Buy Crypto with Cash Balance’ option.
How to Withdraw Money from Trust Wallet
Binance users can choose the currency they want to withdraw and their preferred payment method. Remember that Binance allows users to choose between cards, bank transfers, and external wallets for fiat withdrawals. The crypto platform only supports fiat sales of Bitcoin and USDT for Euros.
Sometimes, withdrawals may end up being stuck in processing, and that is because the blockchain has to confirm the transaction first. In fact, the platform will deal with the processing of the withdrawal as soon as you make the request. However, every blockchain is different, so the amount of time required for completing the transactions may vary.
Can I withdraw money from Trust Wallet to a Bank Account?
Choosing the wrong network here could lead to the permanent loss of your assets. Trust Wallet is available as a mobile cryptocurrency wallet. The app is available on the Google Play Store or Apple App Store. Once installation is complete, create a new crypto wallet and save the recovery backup phrase. Investors can also setup extra security with passcode and facial ID.
Founded by Changpeng Zhao in 2017, Binance allows trading with currencies and virtual tokens such as Ether, Dogecoin, Litecoin, and Bitcoin. It also allows operations with its own token, respectively Binance Coin. KuCoin is one of the oldest cryptocurrency exchanges in the world, gaining the trust of crypto traders worldwide. With support for over 600 cryptocurrencies, KuCoin is a reliable destination for any trader looking to sell BNB. It is better suited for sophisticated advanced traders, but retail traders can also get around its website and app. On the fiat withdrawal page, you need to select a currency and payment method.
For more information, read this article on how to withdraw from Binance. Binance Coin is a highly liquid asset, which means several exchanges support it. The most popular choices for investors include origin network, Binance, FTX, KuCoin, and Poloniex.
Which exchange can I sell BNB?
Head to the Binance homepage and click ‘Register’ to begin. New users can register using their phone number, email address, or Google account. Once this is completed, Binance will send an authentication link, which users can click to verify their accounts.
- This presents investors with an alternative withdrawal path around these restrictions mentioned above.
- The exchange has a dossier of over 300 digital assets with an impressive 500 trading pairs including BNB pairs.
- This option is useful for investors who own BNB but don’t have acces to an exchange where they can sell it.
- He has been a writer since 2019, and his experience in the Fintech industry has inspired most of his articles.
- Crypto traders can trade Binance Coin by connecting their Trust Wallet to decentralised exchanges like PancakeSwap and UniSwap.
Enter the desired withdrawal amount, fill in the payment details, and Binance will send a verification code via text or Email. Enter the code, and the withdrawal will be processed directly. Next, the user will need to exchange BNB for their preferred fiat currency. Head to the “Sell Crypto” page on Binance, enter the desired BNB amount, and initiate the transaction. BNB can be sent from an external wallet to the user’s Binance wallet.
Since you are doing a network transaction when withdrawing crypto from your account with Binance, you will deal with some fees. Certain currencies, such as Ether or BNB, need Binance to be able to be sent to another crypto wallet. Sell Binance Coin directly from your BNB Chain wallet and withdraw funds in 12 fiat currencies on your bank account in 171 countries. Users can easily sell their BNB coins using either a third-party DEX platform or the Swap option on Trust Wallet.
The information provided on this page is for educational purposes only and is not intended as investment advice. We may receive compensation from our partners if you visit their website. Join the Every Bit Helps mailing list to receive our newsletter & get access to the latest deals & to our Discord community. However, using BSC (Binance Smart Chain) to withdraw from Trust Wallet will be faster and cheaper than the Ethereum network. Below, we’ll take a look at each of these steps in detail.
This is the same process if you want to withdraw your tokens from Trust Wallet to another wallet or exchange. When you withdraw through Binance Fiat Exchange you will be charged withdrawal fees. If you don’t want to pay fees, you will need to look for a Peer-to-Peer (P2P) option so you can exchange your crypto for cash from another user. After you’ve sent the cryptocurrency you want to cash out from Trust Wallet to Binance, you can sell it for fiat currency on Binance. After you’ve tapped on the cryptocurrency that you want to cash out (e.g. Ethereum), you’ll land on your Ethereum wallet.
That is, cashing out of BNB due to a price drop could make a poor investment decision in the long term. Panic-selling a crypto asset due to current performance takes out the possibility that it may rise in the coming months. Next, select the fiat currency you want to receive on the “You will receive” field (e.g., USD, EUR).
Overall, Binance is the most logical place to sell Binance Coin into cash using the exchange to quickly convert into a stablecoin or cash. While the withdrawal methods can be limited, the secondary option of the P2P exchange is a good backup for a quick sale. It is also important to keep in mind that selling BNB will incur exchange fees for providing the platform.
The next step is to create an account on a popular cryptocurrency exchange like Binance. You can pick any crypto exchange that allows you to sell crypto for fiat currency. Binance is often highly recommended because it supports over 60 fiat currencies and allows you to use credit cards, debit cards, bank transfers, and cash balances.
Stablecoins can easily be cashed in on popular exchanges such as Binance, Coinbase, or Kraken. To learn more about withdrawing from an exchange, check out our tutorial on how to withdraw from the Binance exchange. Keep in mind that there are different fee schedules for every blockchain.
How long does it take to withdraw from the Trust Wallet?
Be sure to check your local regulations and tax obligations so you can keep the proper records and report your sale. This product is open-source and available completely free of charge with no transaction fees. Therefore, there will be a gas fee when you do any transaction on Binance Chain, Binance Smart Chain, or Ethereum. The cost of the transaction fee will be passed on to the user by Binance.
However, we recommend using the Swap feature as it is seamless and easy to execute. Swap allows investors to exchange their BNB coin to another crypto asset of their choice. Like many exchanges of its caliber, KuCoin uses a maker-taker structure to determine trading fees.
- Also, if a network has very high traffic, this will affect the amount of time you have to wait.
- Trust Wallet swap function uses a DEX, also known as a decentralized exchange.
- The cost of the transaction fee will be passed on to the user by Binance.
- Sometimes, withdrawals may end up being stuck in processing, and that is because the blockchain has to confirm the transaction first.
- If you want to find out the minimum amounts of every currency, you can check them out on the Binance website.
If, like me, you’re in the UK or Europe, you’ll need to swap your tokens for FIAT currency (like GBP/EUR) first. The below example is using the Binance Exchange web platform. However, you can do the exact same process using the mobile app if you’d prefer. Alternatively, the process using other centralized exchanges will be very similar. So, let’s dive into this Trust Wallet guide to help you work out how to withdraw from Trust Wallet back to a bank account.
Because of that, the fees for crypto withdrawals will depend on the particular coin that you are using. Also, it is likely for fees to change, as they are dynamic and depend a lot on the network activity. You will have to go to the actual withdrawal page in order to find the accurate withdrawal fees.
People will have to complete the KYC requirements in order to start trading with it. Once the account creation is successful, people can add their cryptocurrency amount to the public wallet address. Download Bridge Wallet, the mobile app that we’ve made to help you easily invest and manage your cryptoassets from your phone with total control on your funds. Furthermore, Binance withdrawal time is short, as it only takes about five minutes for Binance to process your withdrawal request in most cases. You can withdraw through different means, but the focus here will be on withdrawing cash from Binance into your bank account.
The first step is to swap your crypto assets to a popular cryptocurrency like Bitcoin or Ethereum in your Trust Wallet account. You can do this by converting all your tokens or coins into Smart Chain on Trust Wallet. Binance is undoubtedly the best place to cash out of its native token, Binance Coin. For those that are new to Binance, the exchange is available worldwide in more than 100 countries including the United States via a regulated subsidiary called Binance US. Its reach globally makes it a highly accessible platform for individuals to sell BNB tokens regardless of their location.
Binance Coin (BNB) is a utility token created by the largest cryptocurrency exchange in the world, Binance. The asset is one of the most popular cryptocurrencies today, as it plays a crucial role in the day-to-day running of the Binance ecosystem. Investors that hold the token may be wondering how to sell BNB for cash or another crypto. This guide will explain the steps involved to sell Binance Coin and which are the best platforms to do so. Trust Wallet is one of the most popular cryptocurrency wallets, with support for a wide variety of crypto assets, stablecoins, and NFTs. Trust Wallet has more than 25 million users, works on Android and iOS, and integrates with thousands of DApps and Web3 services.