Can you withdraw BNB (Binance Coin) from Trust Wallet to your bank account? You might get confused on how you can convert your BNB tokens to the regular fiat currency, such as USD or any other local currency, in your Trust Wallet account. The problem with Trust Wallet is that it can only store crypto assets for you, so you might not find any option to withdraw it as USD or any other currency on the Trust Wallet platform. This guide will give you some tips on how to withdraw BNB from Trust Wallet to bank account.
Important Things You Need to Know about Storing BNB Tokens in Trust Wallet
First, you need to know some important things about storing BNB tokens in Trust Wallet before trying to withdraw BNB from Trust Wallet to bank account. Trust Wallet is a cryptocurrency wallet that allows you to store BNB (Binance Coin) and other crypto assets, such as BTC, ETH, ATOM, and so on.
With Trust Wallet, you can send crypto assets to other wallets and crypto trading platforms, and you can also receive crypto assets from other wallets or crypto trading platforms. Aside from sending and receiving crypto assets, you can also swap your tokens with other crypto assets right from your Trust Wallet account. It means that this wallet supports sending, receiving, and swapping of BNB tokens and other crypto assets.
Is It Possible to Withdraw BNB from Trust Wallet to Bank Account?
Trust Wallet is a cryptocurrency wallet that has the primary function of storing your crypto assets. You can download the Trust Wallet app and install it on your Android or iOS device. However, there is no option for you to withdraw BNB or any other tokens to your bank account via this wallet. The reason is that this is the wallet designed to store crypto assets, not the platform to sell cryptocurrencies.
With that said, you can’t withdraw BNB (Binance Coin) from Trust Wallet to bank account. However, there’s a workaround for this situation. You can still withdraw the BNB tokens you have stored in your Trust Wallet account via a third-party crypto exchange service. Thus, withdrawing BNB from Trust Wallet will require you to use a third-party crypto trading platform to complete the process.
Using a Third-Party Crypto Exchange Service to Withdraw BNB from Trust Wallet to Bank Account
The best way to withdraw your BNB tokens from your Trust Wallet account is by using a third-party crypto exchange service that supports BNB tokens by default. It means the crypto exchange service needs to support the Binance Smart Chain ecosystem, and they need to have BNB on their list of tokens to trade. For this purpose, Binance is the best platform you can use to withdraw your BNB tokens. The reason is that BNB is the native token of Binance, so this platform has 100% support for the BNB token.
To withdraw BNB from your Trust Wallet account, you will need to send your BNB tokens to your Binance wallet, and then withdraw your BNB token from the Binance platform. The process should be quick, as you can withdraw your crypto assets in an instant if you are using the Binance crypto exchange platform.
Withdrawing BNB from Trust Wallet to Bank Account – Step by Step
So, let’s get started on withdrawing your BNB tokens from Trust Wallet to bank account. Here are the steps you need to follow:
- Go to the Binance official site at https://www.binance.com/ and log into your account there. Remember, you will need to use a VPN connection if you can’t access this page.
- After you have logged into your Binance account, click on the ‘Wallet’ option, and then click on the ‘Overview’ option.
- Next, you can click on the ‘Crypto Deposit’ option, select ‘BNB’ as the token you want to deposit, and then select the ‘BNB Smart Chain (BEP20)’ as the network. After this step, you will see the wallet address along with the QR code. Copy this address, as you will need to use it as the receiving address for your BNB tokens.
- Then, you can open your Trust Wallet app and log into your account there. On the Trust Wallet account page, tap on the ‘Send’ option. Select ‘BNB’ as the token you want to send and choose the amount of BNB you would like to send to your Binance wallet.
- Paste the wallet address you got from Binance or scan the QR code of the Binance wallet address using your mobile device.
- Make sure that all information is correct. Then, you can confirm the transaction after checking the fees you will need to pay to process this transaction.
- Once the transaction is complete, you will see your BNB assets in your Binance wallet account. After that, you can click on the ‘Withdraw’ option and follow the steps as provided by Binance. Choose the ‘Fiat currency’ option for your withdrawal.
- You will need to fill in your bank account information, fill the amount of BNB you would like to withdraw, enter other details, and click to confirm the transaction.
- Congratulations! You have withdrawn your BNB tokens into your bank account.
You have learned about how to withdraw BNB from Trust Wallet to bank account. Yes, you can’t do it right from your Trust Wallet account, but you can send your token to Binance or any other crypto trading platforms that support BNB tokens, and then you can withdraw your BNB tokens from there. Good luck!