Trust Wallet holds cryptocurrency, not dollars—so you must sell your coins first, then withdraw the cash
Trust Wallet is a mobile app that stores cryptocurrency. Your bank account holds regular currency—dollars, euros, whatever your country uses. To move money between them, you need an intermediate step: you sell the cryptocurrency inside Trust Wallet for regular currency, then withdraw that currency to your bank. The app itself cannot send money directly to a bank account the way a payment app can.
The process takes two separate actions and usually involves a third party—either a cryptocurrency exchange (like Coinbase or Kraken) or a peer-to-peer service. Trust Wallet does not directly connect to banks. Understanding which route works for your situation depends on what cryptocurrency you hold, how much you want to move, and which services operate in your country.
Key Takeaways
- Trust Wallet stores only cryptocurrency; you must convert coins to regular currency before any bank can receive the money.
- The most common route is to send cryptocurrency from Trust Wallet to a cryptocurrency exchange, sell it there, then withdraw dollars (or your local currency) to your bank account.
- Exchanges that connect directly to banks include Coinbase, Kraken, and Gemini, though availability varies by country and which coins you hold.
- The entire process—from selling to bank deposit—typically takes one to five business days, depending on your bank and the exchange.
- You will pay fees at multiple steps: a network fee to send the coin out of Trust Wallet, an exchange fee to sell it, and possibly a withdrawal fee to move money to your bank.
Sending cryptocurrency from Trust Wallet to an exchange
Open Trust Wallet and find the cryptocurrency you want to sell. Tap the coin, then look for a "Send" button (the exact label varies by app version). You will need the receiving address from your exchange account—this is a long string of letters and numbers that identifies where the coin should go.
Log into your exchange account (Coinbase, Kraken, Gemini, or another service that operates in your country) and find the "Receive" or "Deposit" section for that specific coin. Copy the address it shows you. Paste it into Trust Wallet's send screen. Double-check the address character by character—a single wrong letter sends your money to an address you cannot recover.
Trust Wallet will show you a network fee (sometimes called a "gas fee" for certain coins). This is paid to the blockchain network, not to Trust Wallet. Accept the fee and confirm the send. The cryptocurrency will leave your wallet and arrive at the exchange within minutes to a few hours, depending on network congestion.
Selling your cryptocurrency on the exchange
Once the coin arrives at your exchange account, you will see it in your balance. Navigate to the trading or sell section. Select the coin you just received and choose to sell it for your local currency (USD, GBP, EUR, etc.). The exchange will show you the current price and calculate how much regular currency you will receive after their trading fee.
Confirm the sale. The exchange deducts its fee—typically 0.5% to 2% of the amount, depending on the service and your account tier—and credits the remaining balance to your account in regular currency. This happens when ready or within minutes. You now have dollars (or pounds, euros, etc.) sitting in your exchange account, not cryptocurrency.
Withdrawing to your bank account
In your exchange account, find the "Withdraw" section and select your bank account as the destination. You will need to have already linked your bank account to the exchange—this usually requires your account number, routing number (in the US), and sometimes a small test deposit that the exchange sends and you confirm.
Enter the amount you want to withdraw and confirm. The exchange will deduct a withdrawal fee (usually $0 to $25, depending on the service) and send the remaining balance to your bank. The money arrives as a standard bank transfer, which takes one to five business days depending on your bank's processing speed.
Fees at each step and how they add up
Moving money from Trust Wallet to your bank involves three separate fees. First, the network fee to send cryptocurrency out of Trust Wallet—this varies wildly depending on which coin you hold and current network demand, from a few cents to $50 or more. Second, the exchange trading fee when you sell—typically 0.5% to 2% of the amount. Third, the withdrawal fee from the exchange to your bank—usually $0 to $25.
If you are moving a small amount (under $200), fees can eat a significant percentage. If you are moving $1,000 or more, fees become a smaller proportion of the total. Calculate the total cost before you start: add the network fee, multiply your sale amount by the exchange fee percentage, and add the withdrawal fee. Subtract that from your starting amount to see what actually lands in your bank account.
Which exchanges work in your country
Coinbase operates in the US, UK, Canada, Australia, and several European countries. Kraken serves the US, Canada, and Europe. Gemini operates in the US and a few other countries. Kraken and Gemini tend to have lower fees than Coinbase. However, availability depends on your country and which cryptocurrencies you hold—not every exchange supports every coin.
Before you send cryptocurrency anywhere, check that the exchange you choose operates where you live and supports the specific coin you want to sell. If your country is not listed, you may need to use a peer-to-peer service or a local exchange, which may have higher fees or slower withdrawal times. Some countries restrict or prohibit cryptocurrency exchanges entirely.
Timing: how long the whole process takes
Sending cryptocurrency from Trust Wallet to an exchange takes 5 minutes to 2 hours, depending on network congestion. Selling it on the exchange happens when ready. The withdrawal to your bank account takes 1 to 5 business days. Weekends and holidays add time—a withdrawal initiated on Friday afternoon may not arrive until Tuesday or Wednesday.
Plan for the full process to take 2 to 7 business days from the moment you send the coin out of Trust Wallet. If you need the money urgently, this is not a fast method. Some exchanges offer faster withdrawals (same-day or next-day) but charge higher fees for the service.
Frequently Asked Questions
What if I send the wrong cryptocurrency to the exchange?
If you send a coin the exchange does not support, it will be lost. Always verify that your exchange accepts the specific coin before you send anything. Check the deposit address format—different coins use different formats, and sending Bitcoin to an Ethereum address, for example, results in permanent loss.
Can I withdraw directly from Trust Wallet to my bank without using an exchange?
No. Trust Wallet does not connect to banks. You must use an exchange or peer-to-peer service as the middle step. Some services like Wyre or Ramp claim to offer direct conversion, but they still require you to send the coin to their platform first.
Why does the network fee change?
Network fees depend on how busy the blockchain is at that moment. During high-traffic periods, fees spike because more people are sending transactions. Ethereum and Bitcoin typically have higher fees than newer blockchains like Polygon or Binance Smart Chain. You can sometimes reduce fees by waiting for a quieter time, but this adds delay.
Do I have to pay taxes on the sale?
Tax treatment of cryptocurrency sales varies by country. In the US, selling cryptocurrency is a taxable event—you owe capital gains tax on the difference between what you paid for the coin and what you sold it for. Keep records of the sale price and date. Consult a tax professional in your country for specific rules.
What if my bank rejects the deposit from the exchange?
Banks rarely reject deposits from legitimate exchanges, but it can happen if the exchange name on the transfer does not match your bank's records or if your bank has restrictions on cryptocurrency-related transfers. Contact your bank before you withdraw to confirm they accept transfers from the exchange you chose. Some banks block them entirely.