(Case study using Trust Wallet and Binance) 

As we have seen in the past, often times newbies in the industry do not know exactly how to move their funds in, around, and out of the crypto ecosystem. They are lost in rookie mistakes which eventually results to a loss of funds. This is why the DeevynTradeHub has sought to change that narrative by painstakingly putting out this article that will serve a guide to both new and existing members to help them conveniently carryout transactions on their own.

This article will help you understand all you need to know in 5 steps

1. Choosing an exchange

2. Swapping crypto on a wallet

3. Moving crypto to a centralized exchange

4. Converting crypto to cash via p2p on the exchange

5. Converting crypto to cash(naira) in minutes via a trusted merchant

It should interest you to know that, Trust Wallet does not allow any crypto to FIAT or traditional currency withdrawals, such as USD, NGN, and GBP. This leads us to the big question of how can money be withdrawn from Trust Wallet? But just before that question is answered, we need to know what Trust Wallet is.

Trust Wallet, is a digital currency wallet designed for storing, sending, and receiving digital currencies. It supports most cryptocurrencies and includes features for earning, swapping, and buying crypto from 3rd party providers. It was acquired in 2018 by Binance and is available for Android and IOS devices. It also offers a lot of security features such as biometric login and 2-factor authentication.

Now, the following steps will answer the question of

How to Withdraw Crypto From Trust Wallet

1. Choose a trusted cryptocurrency exchange: This is the first step to withdrawing from Trust Wallet, you must choose a centralized crypto exchange that supports crypto to fiat withdrawals. There are a lot of such exchanges for example we have Binance, Bybit, Coinbase, etc. But for this example, we’ll be making use of Binance. Before using a centralized you are most likely to do a KYC on the platform you have chosen and also get verified.

2. Exchange/Swap your crypto on Trust Wallet: When it involves coins, you can do this on the wallet by using the swap feature as shown in the process below:

  • Click on the swap as shown in this image
  • Select the coin you are swapping from to the coin you’re swapping to
  • Confirm swap

 It can be a bit more technical when it involves tokens because you will need to use decentralized exchanges on the platform, we have the likes of PancakeSwap and Uniswap amongst others. But for the process explained below, we’ll be making use of PancakeSwap.

  • Navigate to the Browser at the bottom of the app as shown below, scroll down and click on PancakeSwap
  • It will lead you to a swap tab, where you select the token you want to swap from to the stablecoin you want to swap to. You must ensure that the stablecoin selected is supported by the token you want to swap. but before that, Ensure you Connect Your Trust Wallet By clicking the “Wallet Icon” On the Page.
  • Enter the amount you want to swap, and set slippage.
  • Press swap and confirm the transaction.

3. Send to your chosen exchange: Now that you have swapped to your preferred stablecoin, it’s time to move it to the exchange you chose. You do that by following these steps:

  • Navigate back to the wallet tab at the bottom of the Trust Wallet app.
  • Select the cryptocurrency you want to send. For this Guide, We’ll Be Using Binance SmartChain (BNB)
  • it will pop up as shown below, then you click on send.
  • The recipient wallet address will be demanded as shown below.
  • Ensure that Both Sender and Receiver addresses match the Same Network Type
  • Move to the exchange you are sending your crypto to, navigate to the deposit area by clicking on wallets as shown below.
  • Click deposit, the pop up below will appear.
  • Select the coin you are about to deposit, there will be a pop-up as shown below.
  •  Copy the wallet address that will receive the crypto. Make sure you confirm the network of the address.
  • Go back to Trust Wallet and paste the address into the recipient address as shown below.
  • Enter the exact amount you would like to send, if you’re sending everything simply click max.
  • Click on continue, confirm the details, and proceed to authorize the transaction.
  • Whatever you send will be received on the exchange. Take Note of the Withdrawal Fees

4. Move the funds from the exchange to your Nigerian bank account: this can be done by either running a p2p transaction on the Binance app or going through a trusted Merchant like Deevyn TradeHub outside of the app. For the first option go through the following steps listed out below:

  • Navigate to the p2p section of the app: Click on the wallet sign at the bottom of the app, move to your funding wallet. It will lead you to what you’re seeing on the image below.
  • Click on the P2P shown in the above image, select sell, choose your preferred vendor, and open a sell trade as shown below.
  •  You’ll be required to input the amount of crypto you want to sell and your bank details as seen in the image below.
  • Confirm that you have indeed received the payment on your bank application.
  • An option to release coin to the vendor will be shown, make sure to confirm payment before releasing crypto.

5. Convert crypto to cash(naira) via the DTHA merchant: 

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When you Convert Crypto-2-Naira in minutes ⚡️with Deevyn TradeHub Admin (DTHA), 

Visit 👇👇to Get Started

https://linktr.ee/deevynth

  • Click on the above link and it’ll redirect you to a new page as shown in the image below:
  • Once the above image is displayed on your screen, select the first option of Convert Crypto To Naira In Minutes. Immediately after that selection, you’ll be redirected once more to deal with the Deevyn TradeHub Admin directly as seen in the image below.
  • The DTHA will pick it up from here as seen in the above image and in a matter of minutes, you would have successfully completed the transaction of converting your crypto to cash(naira).

In conclusion, it is important to note that due to regularly updates on mobile phone applications, the user interface in the near future might be slightly different from the images seen here. However the above steps given in this article are valid any day and at any time.

I wish you good luck and good trading.

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