How to withdraw money from Trust Wallet
In this step-by-step guide, I will take you through a beginner step-by-step guide on how to withdraw money from your trust wallet to your bank account. If you have meme coins as safemoon, shiba inu, baby shiba, jindu inu, babydog, elonmoon, dogecoin, kishu inu, dogelon mars, doggy coin and the list is long, just remember any meme coin or alt token coin on your trust wallet, in this step-by-step video I will show you how to withdraw money from trust wallet to your bank account. I advise you to watch full video listed below as well, unless you know what exactly you are doing.
For the first you need to understand few very important information before you can withdraw the money from trust wallet.:
Within trust wallet we can have various categories of coins, most common are
Some of the major Coins, bep20 token coins, crc20/erc2 token coins. the first important thing is to find out which network is your coin built on?
BTC, ETH, BNB, XRP and many others are known as major coins– and it is very easy to get confuse with warped Ethereum, smart BNB, warped Bitcoin and there are many, please keep in mind any with warped are not the same as major coin. To find the right coin, simply tab the coin and you can see it is written coin here. This is a major coin, but let’s have a look warped eth, it’s says erc20 token coin. When withdrawing the money from trust wallet, we need to have our value of the coin on the one of these major coins.
The erc20 token coins are known as coin central contract based on Ethereum network, fx. Uni coin, EOS coin, Tron coin, Icon coin, and Shiba inu coin, dogelon mars coin, crypto.com CRO coin, kishu inu coin, akita inu coin, Hokkaido Inu coin, and there are many more – to find which of your is built on erc20 simply tap the coin on your trust wallet and you can see on the top left corner. Fx. Shiba inu is shown as erc20 token coin!
The bep20 coins are known as coin central contract based on binance smart chain BNB, fx. Cake, Safemoon, jindo inu, fire inu, zabaku inu, little rabbit, banana coin, sanshu inu, baby doge coin, catecoin, Alaska Inu, Bonfire, Safemars and many others, – similarly, to find which coin is bep20 coins, simply tap the coin on your trust wallet.
|Coins||ERC20 / ERC2||Bep20|
|Most of the coins are accepted in the major exchange yet please check fx. Bnb is not accepted yet in coinbase.||If your coin is fall into this category you have to convert your coin to Eth using uniswap on trust wallet.||If you coin fall into this category, you have to convert your coin to BNB using pancakeswap on trust wallet.|
|Now you have|
|(expect for some coin, now we can transfer them to exchange website)|
|Coinbase or Binance||Coinbase or Binance||Only on Binance|
On the coinbase, when you search a coin, it will say, either this is tradable within coinbase or not. Similarly, you can also search on Binance’s markets, if your coin is not visible there, you have to convert your coin to the coin their central contract is based on.
Now, as we have all the major coins, let’s withdraw them to their respective coins. Let’s start the withdrawal process for the CRC20 coin. If you have BEP20 coins please navigate from the chapter section on the video description area.
How to sell ERC20 token coin on trust wallet
First, let’s sell some of the ERC20 coin, remember you can follow the same step to sell any coin based on crc20 category.
So first thing first, we need to connect my trust wallet to Uniswap and swap the coin to ETH or fiat coin as such DAI, USDC or USDT. If you want to withdraw money to your trust wallet you should choose fiat currency. if you just want to swap meme coin to ETH choose ETH. See the video for step by step guide. Now I have my ETH value on my trust wallet.
Now, I am going to login to coinbase.com. I need a ETH address so what I can send my ETH/USDC/USDT or DAI from trust wallet.
How withdraw coin to Coinbase from trust wallet
Login to Coinbase, and click to send / receive and received.
Going to choose the coin based on what you just swapped, I swap to ETH so I am going to choose ETH from the dropdown. (you need to very careful here, if you copy wrong address or wrong coins address fx. You suppose to copy the ETH address but my mistakenly you copied the BTC address, in that case you will lose your coin forever.)
For the easy reference, I am going to put that address on my email. So, I can access from my mobile phone.
Now, I have my address on my mobile, let’s copy this and head to trust wallet.
Now I am going to tab the ETH on my trust wallet and going to click to the send.
Remember, I just copied the address that is correspond to Ethereum on coinbase. I am going to paste it here. On the amount field, I am going to send a test amount, always send test amount first. So, in case of mistake you on the network or address, do don’t result losing all your assets. Once you receive the test amount on coinbase, you can click to max to send all the balance at once. Now, Let’s click to next,
You will need to pay a small transaction fee to send eth from one to another wallet. Once, we click to send, it may take between 2-10 minutes to received ETH from trust wallet to coinbase. This is the most painful time, but since we just send the test amount, we can relax and once we receive the test amount on the same wallet, later when you send the rest of the amount, you can also relax, this is why it’s always good to follow the best practice while sending and receiving the coin from one wallet to another.
How to withdraw money from coinbase to bank account or how to sell coin on coinbase
Once again, it is hard to explain the steps on blog post, if you can watch the video for easy reference. So, once you have the ETH/USDT/USDC or DAI on your coinbase account. We need to sell that to withdraw money to our bank account. BTW, coinbase also supports paypal withdrawal and it is instant. For now, let’s start with selling process of ETH that we received from our trust wallet. I live in Europe, so you will see the receiving currency in Euros but in your case, you will see the currency based on your account setting.
By following the same method, you can sale the any coin built on ERC20 or ERC2 contract on trust wallet. Now, we have eth, let’s withdraw that that money to our bank account using coinbase.
Once you have eth on your coinbase.
- Go to portofolio
- Tab to the coin ETH or FIAT USDT,USDC or DAI what coin you want sell and click to sell from the right sidebar.
- And click to sell your coin, you can see which currency you will receive your sell amount in, in my case, it’s euro.
- Once you sell your coin go to portfolio again.
- You can see your currency balance there, in my case it is euro. (please see the video)
- Tab to the currency and input how much you want to withdraw in the withdraw field or click to withdraw all to withdraw your all the available fiat currency and click to continue.
- On the next window, you will be asked to add your debit card, bank account or paypal. Choose your withdrawal methods and input the details.
Bank withdrawal and card usually takes 2-3 business days whereas Paypal is instantly. So, this is how you withdraw money from trust wallet using coinbase.
Now let’s sell BEP20 coins on trust wallet and withdraw the money to our bank account.
Remember the rules, BEP20 need to swap using Pancakeswap.
How to sell Safemoon on our trust wallet.
Let’s sell Safemoon on our trust wallet. Safemoon is bep20 token coin built on Binance smart chain, so using the same method you can sell any token coin built on Binance Smart Chain on Trust Wallet.
- Let’s open the pancakeswap.finance
- Navigate to trade and exchange from the left navigation bar.
- Let’s open coinmarketcap.com on new tab and search safemoon.
- Copy the contract code for safemoon and head back to pancakeswap exchange.
- In the From input area click and paste the contract code or type safemoon and select it.
- In the to input area, type BUSD or BNB. (if you want to withdraw money to your bank account: choose BUSD)
- Now unlock your wallet and click to approve safemoon, you will need to pay small fee to approve safemoon for trade.
- Once it is approved, you can click to swap and confirm the swap, you will need to pay the network fee again. After the process you will have your BUSD or BNB on your trust wallet.
Now you have two options: you can send busd to Binance and withdraw that to your bank account, but for some reason if you can’t open a account on binance, you have to use another method to withdraw BNB or BEP20 token coin to your bank account. I’ll talk about later in the post.
I already made a video, explaining how to withdraw Money from our trust wallet to Bank account using Binance. In this video I withdraw BNB Smart Chain, which is also a BEP20 coin, same as BUSD. I am going to list this video below, you can simply navigate to the video and start the withdrawal process.
How to withdraw BNB/BUSD or BEP20 token coin to Coinbase
Now Let’s talk about you have BEP20 token and for some reason, you can’t have a account on Binance. What are your chances. If you are withdrawing your money using Coinbase, do not Convert BNB to ETH using Pancakeswap (it is pegged ETH, it is not the native ETH, coinbase does not support BEP20 or BEP2 token coin). The one and only option is to use Binance Bridge and convert to native ETH. Unfortunately, binance bridge does not yet support the Wallet Connect connection, which mean you can’t use it on Trust Wallet.
The best solution to withdraw BNB, BUSD or any binance built coin to coinbase I found is:
- Swap/Convert your BNB or BEP20 coin to BUSD using Pancakeswap
- Create or setup MetaMask Wallet or Binance Chain, you can also installed the metamask browser extension.
- send BUSD to your wallet (Metamask or Binance Chain)
- Make sure you are converting from Binance Chain to Native Ethereum network.
- You need ETH address, login to your coinbase, click to send and receive and choose ETH and copy the ETH address and put on the destination input field.
- and follow the last step to receive your BNB converted ETH on Coinbase.
If you get confused, please watch first video. I think the first video is not just an step-by-step trust wallet withdrawal process but you will learn, how to swap coin, where to swap, what should you take into account while swap all. Remember swapping and sending to wrong address can result in loss of coin permanently. Have a question, you can ask in YouTube as well.