How to cash out from Trust Wallet? What are the best ways to convert crypto to fiat?

Cash Out Process Overview

1. Open Trust Wallet and select the cryptocurrency you wish to withdraw. Ensure your wallet is updated and connected to a reliable internet source.

2. Tap the “Send” button located at the bottom of the asset screen. This initiates the transfer flow but does not yet convert to fiat.

3. Enter the recipient address — this must be an exchange-compatible deposit address or a peer-to-peer trading platform wallet where fiat withdrawal is supported.

4. Confirm transaction fees and network selection. For Ethereum-based tokens, ensure you choose the correct chain (e.g., Ethereum Mainnet or Polygon) to avoid failed transfers.

5. Wait for blockchain confirmation. Transaction speed varies depending on network congestion and selected gas fee.

Exchange-Based Withdrawal Methods

1. Transfer crypto from Trust Wallet to a centralized exchange such as Binance, Kraken, or Coinbase that supports both your token and local fiat currency.

2. Deposit the asset into your exchange account and wait for full confirmation before proceeding to sell.

3. Navigate to the spot trading interface and place a market or limit order to sell your crypto for USD, EUR, GBP, or other supported fiat currencies.

4. Initiate a bank transfer or card withdrawal through the exchange’s fiat withdrawal section. Verification requirements may apply based on jurisdiction and withdrawal amount.

5. Monitor processing time — standard SEPA transfers take 1–3 business days; domestic ACH or wire transfers vary by region and institution.

Peer-to-Peer Trading Platforms

1. Register on a P2P platform integrated with Trust Wallet’s DApp browser or accessible via mobile web, such as Bybit P2P or OKX P2P.

2. Browse offers matching your preferred payment method — bank transfer, PayPal, cash deposit, or mobile money options.

3. Select a seller with high rating and sufficient trade volume. Initiate escrow by sending crypto directly from Trust Wallet to the provided wallet address.

4. Wait for the counterparty to confirm receipt on-chain. Once confirmed, release funds manually after receiving fiat in your designated account.

5. Maintain communication within the platform chat only. Avoid sharing personal banking details outside the secured environment.

ATM and Instant Exchange Services

1. Locate a crypto ATM supporting your coin and linked to a compliant fiat payout service. Some ATMs require KYC verification before withdrawal.

2. Scan the QR code generated in Trust Wallet’s “Receive” section using the ATM interface.

3. Enter the desired withdrawal amount in fiat. The machine calculates equivalent crypto value including service fees and network costs.

4. Confirm transaction and wait for on-chain broadcast. Dispense cash upon successful confirmation — typically within 2–10 minutes.

5. Use instant swap services like Changelly or SimpleSwap embedded in Trust Wallet’s DApp browser to convert crypto to stablecoins first, then route to exchange or P2P gateway.

Frequently Asked Questions

Q: Can I withdraw directly from Trust Wallet to my bank account?Trust Wallet does not support direct bank withdrawals. It functions solely as a non-custodial wallet. Fiat conversion requires routing through external platforms.

Q: Are there limits on how much I can cash out per day?Yes. Limits depend on the destination platform — exchanges impose tiered KYC levels, P2P platforms enforce trade caps per session, and ATMs apply regulatory thresholds per transaction.

Q: What happens if I send crypto to the wrong network?If you select an incompatible chain (e.g., sending BEP-20 tokens to an ERC-20 address), the assets may become irretrievable. Always verify contract addresses and network tags before confirming.

Q: Do I need to pay taxes when converting crypto to fiat?Tax obligations are determined by local legislation. Many jurisdictions treat crypto-to-fiat conversions as taxable events. Consult a qualified tax professional familiar with digital asset reporting rules in your country.