Buying and cashing out cryptocurrency on Trust Wallet can sometimes be tedious, especially for newbies. This article is written with newbies in mind, as we will be diving into how to sell crypto from Trust Wallet mobile app for Android and iPhone.
How Do I Sell Crypto from Trust Wallet App?
Before delving into the details, it is noteworthy that you cannot sell crypto directly from your Trust wallet app. Before you can sell your intended crypto, be it Bitcoin or Ethereum, it must be sent to a cryptocurrency exchange platform like Binance, Kraken, or Coinbase from your Trust wallet App.
Setting up a Crypto Exchange
As stated earlier, setting up a cryptocurrency exchange is the first step in successfully selling crypto from Trust Wallet. To do this, it is only fitting to use one of the best crypto exchanges, which is Binance.
This will be used for the course of this article, as they are the largest exchange in the world in terms of the daily trading volume of cryptocurrencies.
Step 1
The first step to take to successfully cash out crypto from the Trust wallet app is to copy the wallet address from Binance. Log in to your Binance Account, this can be done either on the desktop or mobile app. Also, note that Binance will automatically detect your location to render adequate services specific to your location.
Step 2
After a successful login, click on “Wallet” from the Dashboard of your Binance Account.
On your Desktop page, it will be located in the top corner of your dashboard.
If you log in from your mobile app, it will be located in the bottom corner of your dashboard.
Step 3
On your desktop, after locating Wallet, click on “Fiat and Spot” from the drop-down.
Step 4
After clicking on Fiat and Spot, you should see a list of cryptocurrencies ready to be cashed out. Select any crypto of your choice, then click on “Deposit”.
Step 5
After clicking on Deposit, select the network you want to deposit to. For example, since we chose Bitcoin earlier as our cryptocurrency of choice, the network to deposit into will also be Bitcoin. You can select other deposit networks if your crypto varies.
Step 6
After selecting your network, copy the Binance Address. This should be kept in a safe place for later use on the Trust Wallet App.
Selling Crypto from Trust Wallet on your Mobile Device (Android)
Unlike Binance, Trust Wallet is only available as a mobile app at the moment and cannot be accessed on a desktop.
Step 1
To begin selling crypto from the Trust Wallet app, you should download the Trust Wallet app from your play store.
Step 2
After downloading, open the Trust Wallet, and ensure that you are on “Wallet”, if not click on Wallet.
Step 3
On Wallet, click on “Send”
Step 4
After clicking on Send, paste the Binance Address you’ve copied earlier into the “Recipient Address” section.
Step 5
After pasting the Binance Address, input the amount of preferred Crypto you intend to sell in the “Amount” section.
Step 6
When you are done inputting all the relevant details, click on “Continue”. Upon confirmation of the Withdrawal from the Trust Wallet, it can take up to an hour for the transaction to appear in Binance.
Selling Crypto from Trust Wallet on your Mobile Device (iPhone)
Step 1
To begin selling crypto from the Trust Wallet app, you should download the Trust Wallet app from your App store.
Step 2
After downloading, open the Trust Wallet, and ensure that you are on “Wallet”, if not click on Wallet.
Step 3
On Wallet, click on “Send”
Step 4
After clicking on Send, Paste the Binance Address we copied earlier into the “Recipient Address” section.
Step 5
After pasting the Binance Address, input the amount of preferred crypto you intend to sell in the “Amount” section.
Step 6
When you are done inputting all the relevant details, click on “Continue”. Upon confirmation of the Withdrawal from the Trust Wallet, it can take up to an hour for the transaction to appear in Binance.
Completing the Sale of Crypto on Binance
After completing the sale of your preferred crypto from your Trust Wallet to Binance, there are necessary steps to take before it can be converted to any Fiat Currency of your choice.
Step 1
Go back to your Binance and open Dashboard.
Step 2
From the Dashboard, click on the “Buy crypto” menu. Then click on the “Sell” option
Step 3
After that, Enter the amount of crypto you intend to sell, then select your preferred crypto in the options.
Step 4
When you are done with Step 3, click next, then select “Confirm” on the confirmation page. Hurray, you have successfully sold your Crypto which you transferred from Trust Wallet to your Binance. After the sale, you can now withdraw your fiat currency from your Binance wallet. One of the many advantages of trading with Binance is that it allows users to transfer their fiat currency to their bank account, this usually takes about 60 mins to reflect.
Bottom line
Since Trust wallet was introduced to the public in 2017, it has produced a safe and secure platform for its users, while offering several features to aid an adequate user experience. With Trust Wallet, cashing out cryptocurrency is done seamlessly without any hassle.
FAQs
How do I use my Trust wallet to buy and sell crypto?
The answer to this is quite simple, the first step is to
- Install the Trust wallet App from the Google Play store for Android and on the iOS App Store for iPhone users.
- Create an account or log in to an existing account.
- Tap on the Buy button. Click on the asset you intend to purchase.
- Enter the amount you want to purchase.
How to sell Crypto on Trust Wallet and Withdraw to a Bank?
For users who intend to cash out their cryptocurrency on Trust wallet. Kindly bear in mind that you cannot directly withdraw money from your Trust wallet to your bank.
Instead, users can send the tokens to a crypto exchange like Binance, as highlighted in the article. After the users successfully send the tokens, they can sell them there.
Is Trust Wallet a Safe Wallet?
Yes, Trust wallet is one of the safest decentralized crypto storage out there. It also supports a majority of crypto assets, with over 6 million users on the platform. You can be assured that your assets are safe.
