MetaMask allows users to securely store their cryptocurrencies. However, you cannot sell cryptocurrencies like Ethereum on it. If you don’t sell them, how will you withdraw money to a bank account? The answer is simple. You can use a crypto exchange for that. Do you want more details? Here is a complete guide to help you know how to withdraw money from MetaMask by selling a cryptocurrency.
If you have a MetaMask wallet, you must have got funds, tokens, etc. stored in your wallet. You might need to turn cryptocurrency into fiat currency or cash it out. You must have wondered if it is possible to convert crypto to fiat on the MetaMask wallet. Still, confused and looking for an answer to this? Keep reading this post to get more details.
MetaMask is among the famous wallets used by traders to store their cryptocurrency. MetaMask doesn’t manage fiat money on its platform. So, how to withdraw money from MetaMask? Here is a post to answer your question and help you with all the important information.
It is quite a complex process to withdraw money from MetaMask. Well, we are here to help you out with this. This guide will let you know how to withdraw money from MetaMask. You need to carefully follow the instructions and steps to withdraw funds from MetaMask. So, let us dive straight into the post to find how to withdraw money from MetaMask.
What Is MetaMask?
MetaMask is a hugely popular crypto wallet used by most cryptocurrency traders worldwide. It is available as both a mobile application and a browser extension. This wallet powers its users to buy, transfer, or sell assets on a blockchain. This software crypto wallet is used to interact with the Ethereum blockchain. You can use this MetaMask wallet easily even if you are a beginner. You can connect to the decentralized web with the help of MetaMask.
It is a well-established browser extension. It securely stores users’ passwords and private keys on each user’s device. Users can even connect to multiple wallets and switch between the Ethereum Mainnet and the Binance Smart Chain. You can also withdraw your money from MetaMask. Let us now find out how to withdraw money from MetaMask.
How To Withdraw Money From MetaMask?
Here are the steps to withdraw money from a MetaMask wallet. Check them out and follow them to learn how to withdraw money from MetaMask.
1. Choose An Exchange
To withdraw money from MetaMask, you need to send Ethereum to a crypto exchange. You can choose any of the available cryptocurrency exchanges that allow you to sell Ethereum. Choose an exchange with good features. Once you have chosen the exchange, move towards the next step.
2. Create An Account
The next step is to create an account on the exchange you have chosen. You can enter your details, accept the terms and conditions, and then create an account for yourself. You may also need to verify your identity so you can do it if required. After this, head towards the next step.
3. Copy Address
Once you have created your account, you need to copy your Ethereum address. You can do so by clicking on Fiat and Spot tab. You can find a list of your crypto balances. Search for ETH and then press Deposit next to Eth. You will reach the Deposit Crypto page where you can select ETH and then ERC 20 network using the Network drop-down box. You can find the Ethereum address, copy it.
4. Send Ethereum
You can now open your MetaMask wallet and enter the password to unlock it. Select Ethereum Mainnet network and you can find Ethereum balance along with three icons. Hit the Send button and you will reach the Add Recipient page. Paste your Ethereum address and you will find the Search, public address, or ENS field.
Open it and paste your Ethereum address. You will reach the sending page where you need to select Eth in the Assets field. Type the amount of Ethereum you want to send in the Amount field. Hit the Next and then Send button.
5. Sell Ethereum
It is time to sell your Ethereum for fiat money. This will help you to send fiat money the exchange to your bank account. You can go to the Selling page and choose Eth on the Spend field. Type the amount of Ethereum you wish to sell. Select the currency you would like to receive in the Receive field. Hit the Continue button and follow the instructions.
6. Withdraw Money
You can now withdraw money from MetaMask as you have sold Ethereum. Press Wallet and then Fiat and Spot. You will reach your Fiat and Spot wallet where you can find your fiat and crypto balance. Hit the Withdraw button at the top and you will reach the Withdrawal page. Do the following to withdraw money.
- Choose the currency you wish to withdraw like EUR.
- Click the payment method you would like to use.
- Type the amount you wish to withdraw to your bank account in the Amount column.
- In case you are using the Bank Card payment method, hit the Add new card and type your card information.
- Select the Continue button.
You need to complete a security verification after this. You will receive a 6-digit security code on your mobile number for this. After completing this, you will receive an Order submitted pop-up. The withdrawal process may take some time if you have selected a method other than a Bank Card payment.
This post includes all the necessary details related to withdrawing money from a MetaMask wallet. You can learn how to withdraw money from MetaMask easily by going through our post. You cannot directly withdraw money here. You need to first send Ethereum or Ether-related tokens to an exchange like Gemini or Binance.
You can then sell it and transfer it to a bank account. Remember you need to pay some fees for every transaction you make. Make sure to enter the correct address while sending Ethereum to avoid any problems later.
Frequently Asked Questions
Q1. Can I Withdraw Money Directly From MetaMask?
A. No, you can’t withdraw money directly from MetaMask as there is no withdrawal page on MetaMask. You need to transfer from MetaMask to a bank account to withdraw money from MetaMask.
Q2. Is It Possible To Withdraw ETH From MetaMask To Coinbase?
A. Yes, it is possible to withdraw Ethereum from your MetaMask wallet to Coinbase.
Q3. Which One Is Better In MetaMask And Trust Wallet For Decentralized Applications?
A. Both Trust wallet and MetaMask have trusted software wallets allowing users to store their assets. Both have their benefits. You can effortlessly manage decentralized applications on both these platforms.