in this video i'm going to show you how
to sell
and withdraw from the trust wallet
and for more information on the trust
wallet or how to withdraw
please check out everbit help
stockholder uk
if you're not too sure how to withdraw
from your trust wallet i'll show you how
to withdraw your crypto
to another wallet or an exchange such as
binance
and also how to sell and withdraw your
cash back to a bank account
plus i'll pop a timeline in the summary
below so you can jump to specific parts
of the tutorial
just before we jump in i want to explain
for those of you that are new to crypto
that the trust wallet by binance is
predominantly a decentralized wallet
where you store your cryptocurrencies
usually when you're selling your crypto
for the likes of a fiat currency such as
us dollars gbp or euros
you'd send it across to a centralized
exchange which are normally used for
buying and selling your crypto
however where this gets confusing is
that the trust wallet has some inbuilt
features
such as being able to exchange or swap
your crypto
and these features can be limited for
example with the trust wallet this is in
fact a dex
also known as a decentralized exchange
meaning that the trades are just crypto
to crypto
and not crypto to fear and the exchange
can't link to any bank
therefore you won't have access to fiat
markets and you won't be able to trade
your crypto
for the likes of gbp us dollars or euros
so what if you currently have some
crypto in your trust wallet and you
effectively want to cash that out
and withdraw it back to your bank
account well in my trust wallet
i currently have some smart chain b and
b that i'd like to sell for a fiat
currency like gbp
and then i want to withdraw that back to
my bank account but as you can see these
options aren't available for me
so i can do two things here i can either
withdraw my token back to a centralized
exchange
for selling that back to a fear currency
or i can swap my b and b for a stable
coin first
inside the truss wallet and i can do
this using the decks
at the bottom of the screen and you can
then use the trade screen
or you can use a simple swap by swapping
to a stable coin first
such as the likes of usdt or busd which
are pegged one-to-one with the us dollar
you can take advantage of the current
market prices and capture the price
that's available
without delays and having to wait to
send these transactions
out of the trust wallet first these
stable coins can then easily be cashed
in on popular exchanges
such as the likes of binance coinbase or
kraken
however just make sure that the stable
coin that you're swapping to
is supported on the exchange you're
sending it across to
for example with busd that's binance's
own stable coin
and it's not available on all the other
exchanges
so i'll go ahead and swap my bnb token
for the binance stablecoin busd
and then i'm going to enter in the
amount if you want to find out more
about trading or swapping and trust
then you can check out my full tutorial
which i'll link below
and if i now swap and send
once you've swapped your token and it's
appearing in your wallet as mine is here
now as busd
you can then send it across to the
exchange of your choice
and this is going to be the same process
if you want to withdraw your token from
trust
to another wallet to an exchange or an
interesting earning protocol for example
so to withdraw your crypto from the
trust wallet select the crypto that
you'd like to withdraw
and press on to send and from here
you'll be prompted to enter in the
recipient's address
or you can scan the qr code to find the
recipient's address
you'll need to head across to the
platform wallet or mobile app that
you're sending your funds across to
where you'll need to copy the receive or
the deposit address
in my example i'm going to send this
across to the binance exchange
where i'm currently in my wallet and i'm
going to choose to deposit busd
and just make sure that you are choosing
the right network here
for the token that you're sending plus
if you're sending your funds across to a
wallet
just make sure that the wallet supports
the cryptocurrency that you're sending
across
so we'll just copy this address
and when you paste that back into your
trust wallet
just do a check that you've got the
exact address sometimes the way that i
do this
is by checking the first three digits
the center three and the last three
just to make sure i haven't made a
mistake now if you are sending across
large amounts for the first time you
might also want to consider sending a
test amount across first
or if you prefer you can also use the qr
code instead of copying
and you can use this code which will
then pick up your address
and populate this in for you and then
you simply enter in the amount that
you'd like to send across
then send your transaction and just be
aware that you will need to pay a
transaction cost for withdrawing
which will depend on the blockchain or
the network that you're sending this on
and at the time of this recording
ethereum fees are very high however the
likes of the binance chain or the
binance smart chain will be cheaper
but this will all depend on the type of
crypto that you're currently holding
and once that transaction is complete
your funds will then be sent across the
address that you've sent them to
if that's in exchange and you want to
cash out to your bank account
you'll need to make sure that that's
been sent to a centralized exchange such
as binance
coinbase or kraken and not another
decentralized exchange like euro swap or
pancake swap
and i have full tutorials available for
all of those platforms
if you do want to find out more i'm
going to show you over on the binance
web platform now
however you can do the exact same
process using the mobile app if you'd
prefer
and if you don't already have a binance
account i'll pop a link in the summary
below that will get you some money off
your trading fees
now over on binance if you've already
converted to busd
and you're in the likes of the us or
canada you can choose to withdraw
busd from your spot wallet
and in the top right hand side of the
screen we can choose to withdraw fiat
and i'll just type in usd into here
where you'll then see on the right hand
side of the screen
it's requesting a busd amount and it
shows my available funds here
and all they do is simply convert your
busd to us dollars during the withdrawal
process
but just be aware that with silvergate
swift transactions
they take a 30 us dollar fee however
if like me you're in the likes of the uk
or europe
you'll need to swap your token for your
chosen fiat currency first
so let's head across to the markets tab
and type in gbp in my example and i want
to swap
busd for gbp so i'm going to select that
pairing
and i'm going to click on to trade here
however if you have the likes of
xrp and you want to sell that for gbp
the same process will apply here
so i'm now in my trade screen where i
can then exchange my tokens
i'm going to buy mygbp with busd
and i'm going to use a simple market
order however you can also trade with
more advanced
orders such as the likes of a limit
order and my full tutorial looks into
these order types in more detail
i'm going to enter in the amount into
here now and i'm going to be trading all
my busd to buy gbp
so i'm going to use the slider and take
that up to a hundred percent
i'll then go ahead and buy gbp
so now that i've sold my busd for gbp
i'm going to go ahead across to my
wallet and choose fiat and spot
and if you then locate your gbp or your
fiat balance
and choose to withdraw and from here
i now have the option to withdraw this
back to a bank account
using faster payments and just be aware
here that there is a fee of one pound 50
and a minimum amount of 20 pounds
or alternatively you can withdraw this
back to a credit or a debit card
which incurs a 1.99 fee
and you'll need to follow the on-screen
directions for either type of method
and these different options will all
come with varying delivery times
but that completes how you can withdraw
from the trust wallet
and i hope you enjoyed this video today
and if you did then please give me a
like
hit the subscribe button and please do
head over to my website
at everybodyhelps.com uk for more tips
reviews and step-by-step guides
thanks and i'll see you soon
you