How to Withdraw Money from MetaMask to Bank Account in 2022 – EarthWeb
trying to figure out how to withdraw money from metamask to bank accounts in 2022?
metamask is a popular cryptocurrency wallet that allows users to store their ethereum.
Reading: How to convert ethereum to cash metamask
Since users cannot sell or withdraw money from metamask, they must trust another cryptocurrency exchange for the process.
Most metamask users prefer to use binance as their main cryptocurrency exchange due to the low transaction fee.
Using binance to sell their ethereum, users can specify the currency they wish to withdraw money in.
In this guide, you will find everything you need to know about selling your ethereum and withdrawing money directly to your bank account.
how to withdraw money from metamask to bank account in 2022
Before you can withdraw money selling ethereum, you need to transfer the metamask crypto to an exchange like binance.
here is a step by step guide to transfer ethereum from metamask to binance and sell it for fiat money. then you can withdraw the amount to your bank account in a few minutes.
step 1: create a binance account
The first thing you need to do is register for an account on Binance. Go to Binance or download the mobile app, and click on “Register.”
You will be redirected to a registration page that will ask you to enter a valid email address and create a password.
Remember to choose a strong password, as your binance wallet will contain a significant amount of money after you sell ethereum, as well as your bank details.
once you agree to the terms and service, click “create account”. You will also be asked to verify your identity by entering your actual date of birth and current address.
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You can also undergo a quick verification by uploading a photo of your ID card.
step 2: enter your ethereum address on binance
For this step, you need to find your Ethereum address on the Binance account. Click on “Wallet” and select “Fiat and Spot.” Open your spot wallet and find “ETH” from the list of cryptocurrencies.
You will see a “deposit” button right next to the cryptocurrency you select. click on “deposit crypto” and select “eth” from the coin menu. then specify the network as “erc20”.
now, you will be able to see your own ethereum address on binance. copy this address and save it for later.
step 3: transfer ethereum from metamask
For this step, you need to go back to your metamask account and open your wallet. Click on “Ethereum Mainnet” to see your balance and a list of options to choose from.
Since you want to transfer the ethereum from metamask to binance, you need to click “send”. this option will redirect you to an “add recipient” page in metamask.
Paste the copied address into the search bar at the top of the screen. if it is valid, you will see a check mark indicating this.
now, you will see two other options appear on the screen, “active” and “quantity”. make sure you select “eth” in the “active” field as you are transferring ethereum.
then you can specify the amount you want to transfer to binance. once you click “next”, your transaction will be in process and will take about 60 minutes to complete.
step 4: sell the cryptocurrency on binance
Now that the transaction is complete, you will be able to view the Ethereum on your Binance account. But how can you withdraw money of Ethereum value to your bank account?
for that, you need to sell ethereum on binance for fiat money.
go to the sell page in your binance account. under “eth”, click “spend”. here, you will see an amount field where you can enter the amount of ethereum you want to convert to fiat money.
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You will also need to specify the currency in which you wish to receive your funds.
when you click “continue”, binance will automatically display a list of instructions to follow to sell ethereum.
step 5: withdraw money to your bank
Once you have sold Ethereum for fiat money and the amount is available on your Binance account, you can easily withdraw it to your bank account.
Go to your binance home page, click on “wallet” and open your fiat and spot wallet. here, you can see what cryptocurrencies you have and their respective balances.
When you click “withdraw”, you will be redirected to the withdrawal page which will guide you on how to transfer the amount to your bank.
Remember to check the currency again and make sure you have selected the correct one. then click on the payment method and select “bank card”. specify the amount you want to withdraw and enter your bank details in the corresponding fields.
When you click “continue”, you will be prompted to enter a 6-digit verification code that is sent to your registered phone number. After successful completion of verification, your withdrawal request will be confirmed.
step 6: view status
Using the “bank card” payment option is the most efficient as it only takes a few minutes to withdraw.
However, if you selected another option, such as swift, it may take a few days for the withdrawal process to complete.
During this period, you can click the “transaction history” option on your fiat and cash wallet page to view the status.
Once the withdrawal is successful, a check mark will appear next to the transaction.
Although it may seem complicated to withdraw money from metamask, all you need to do is use a cryptocurrency exchange like binance to complete the process.
sell your ethereum for fiat money and withdraw the amount directly to your bank account. easy. this is how to withdraw money from metamask to bank accounts in 2022.
Source: https://amajon.asia
Category: Ethereum
