Crypto Invest

How To Withdraw Your Crypto From Trust Wallet In Singapore

How To Withdraw From Trust Wallet In Singapore

Last updated on October 18th, 2021

You may have transferred some crypto into Trust Wallet, possibly to stake your crypto and earn some returns.

However, you may be wondering how you can cash out this crypto from Trust Wallet.

Here’s what you need to know:

How do I withdraw my crypto from Trust Wallet in Singapore?

Here’s what you need to do to withdraw your crypto from Trust Wallet in Singapore:

  1. Go to ‘Send’ on the wallet homepage
  2. Select the currency you want to withdraw from Trust Wallet
  3. Obtain the deposit address from the platform you are withdrawing to
  4. Enter the withdrawal details into Trust Wallet
  5. Withdraw your crypto to the external platform

And here is each step explained in-depth:

#1 Go to ‘Send’ on the wallet homepage

When you are on the Trust Wallet homepage, you’ll need to select the ‘Send‘ function.

Trust Wallet Send Function

#2 Select the currency you want to withdraw from Trust Wallet

After that, you’ll need to select the currency that you wish to withdraw.

Trust Wallet Select Currency To Withdraw

#3 Obtain the deposit address from the platform you are withdrawing to

Trust Wallet will require you to withdraw your funds to an external wallet. You will need to find the deposit address on the platform that you are receiving your funds.

For example, you can go to Binance to obtain the deposit address.

Binance View BTC Deposit Address

The most important thing is that you’ll need to make sure you are sending the correct currency to that deposit address.

If you send the wrong currency, or you accidentally change one letter in the address, your crypto will be lost forever.

#4 Enter the withdrawal details into Trust Wallet

You will need to copy this withdrawal address from the platform, and paste it into the “Recipient Address‘ field on Trust Wallet.

Trust Wallet Select Withdrawal Address

You will need to select the amount that you want to withdraw from your Trust Wallet too.

#5 Withdraw your crypto to the external platform

Before withdrawing your crypto, you will be able to see your transaction details.

Trust Wallet View Transaction Details

You will be able to see the network fees that you incur too. If you’re transferring BNB, the withdrawal fees are rather low.

However, this fee can be quite high for other currencies, so it may not be worth withdrawing small amounts each time.

After pressing ‘Confirm‘, your funds will be transferred to your external wallet.

Can I transfer from Trust Wallet to a Singapore bank account?

Trust Wallet does not allow you to withdraw your cryptocurrency into SGD and transfer it to your bank account. You are only able to withdraw your cryptocurrencies to a platform that has a SGD trading pair with your cryptocurrency and sell it for SGD there.

This is somewhat similar to Binance and Coinbase, which do not have any direct methods to withdraw your cryptocurrencies to SGD.

Where can I withdraw my crypto to from Trust Wallet?

If you are wondering where you can withdraw the crypto you have on Trust Wallet, here are some suggestions you can use:

#1 Coinhako

Coinhako is an exchange that has both Xfers and FAST support. This means that you are able to withdraw your SGD easily after selling your crypto.

Coinhako Withdraw To Bank Account

Coinhako also allows you to sell a wide variety of crypto directly to SGD.

Coinhako Fully Supported Tokens Updated April

However, there are 3 main issues with this platform:

  1. You will incur a 1% fee for every trade you make
  2. You will incur a $2 fee for every withdrawal that you make
  3. Coinhako does not allow you to receive certain currencies like ADA, THETA or XMR

The fees may be quite hefty if you are only withdrawing a small amount of money.

Nevertheless, it seems to be a small price to pay to easily withdraw your SGD!

#2 Luno

Luno is another exchange that allows you to withdraw your SGD.

If you sell on their Exchange platform, the fees are only 0.10%.

Luno Exchange Trading Fee

However, Luno Exchange only has BTC/SGD as their trading pair. If you want to sell other crypto to SGD, you will need to make 2 trades:

  1. From the currency (e.g. ETH) to BTC
  2. From BTC to SGD

Luno only allows you to transfer your SGD back to Xfers.

Luno Withdraw to Xfers

This is slightly more troublesome compared to Coinhako, as you need to make another transfer from Xfers to your bank account.

Moreover, Luno only supports 5 currencies:

  1. BTC
  2. ETH
  3. XRP
  4. BCH
  5. LTC
  6. USDC
Luno Available Currencies

While Luno has cheaper fees, its features are more limited.

#3 Gemini

You are able to send a variety of cryptocurrencies to Gemini to sell to SGD.

Gemini Available Currency

Gemini charges one of the highest fees if you use their Exchange platform.

Gemini Exchange Fee SGD

The fees start from 1.49%, and are really high if you trade a small sum each time!

However, if you use Gemini’s Active Trader platform instead, the fees are reduced all the way to 0.35%.

Gemini Active Trader View Fees

However, the main drawback is that you can only trade 2 currencies to SGD:

  1. BTC
  2. ETH
Gemini SGD Trading Pairs

As such, they are even more limited compared to Luno!

#4 Crypto.com

Crypto.com does not charge any trading fees for trades you make on their app.

Crypto.com xfers Link Account

However, it does have some limitations:

  1. You will be charged a 0.4% fee when selling your crypto to Xfers
  2. You can only sell 8 currencies to SGD
  3. The exchange rates between currencies are not as favourable compared to the current rates

Crypto.com only allows you to sell 8 currencies to SGD:

  1. BTC
  2. ETH
  3. BCH
  4. LTC
  5. XRP
  6. CRO
  7. BNB
  8. XSGD
Crypto.com Sell Crypto To Xfers

As such, Coinhako is the exchange that allows you to sell the most types of currencies to SGD!

#5 Crypto interest accounts

Instead of selling your crypto for SGD, why not buy and hold your crypto, and earn some interest on it too?

There are a few crypto interest accounts where you can earn a high interest:

  1. Celsius
  2. BlockFi
  3. Hodlnaut
  4. Youhodler
  5. Nexo

Gemini and Luno have their own savings wallets which provide you with interest for your crypto too.

You can compare the interest rates to see which one gives you the highest rates for the crypto that you own!

Conclusion

If you’re thinking of withdrawing your crypto from Trust Wallet to sell back to SGD, you will need to find a crypto exchange that has a SGD trading pair for that currency.

Otherwise, it is also possible for you to withdraw to interest earning accounts to earn even more on your crypto!

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

Luno Referral (Earn SGD $5 in Bitcoin)

If you are interested in signing up for a Luno account, you can use the referral code ‘T5N74J‘ or my referral link to sign up for an account.

You’ll be able to earn SGD $5 worth in Bitcoin!

Luno Referral

Here’s what you need to do:

  1. Sign up for a Luno Account
  2. Deposit and buy ≥ SGD $100 of BTC via Instant Buy
  3. Receive SGD $5 in Bitcoin

You will need to purchase BTC using the Instant Buy function. The fees that you incur will be 0.75%.

It would be best to buy only $100 SGD worth of BTC, which only incurs you a $0.75 fee. The $5 SGD bonus will be able to offset the fee!

Gemini Referral (Earn $10 USD in BTC)

If you are interested in signing up for a Gemini account, you can use my referral link.

You will be able to receive $10 USD in BTC!

Gemini Referral

Here’s what you need to do:

  1. Register for a Gemini account
  2. Trade ≥ USD $100 or equivalent on Gemini’s platform
  3. Receive USD $10 worth of BTC in your account

Crypto.com Referral (Get up to $45 USD worth of CRO)

If you are interested in signing up for a Crypto.com account, you can use my referral link and enter the code ‘x2kfzusxq6‘.

Here’s how you can get up to $45 USD worth of CRO in your Crypto Wallet:

TaskCRO Reward
Stake enough CRO to unlock a Ruby
Steel Crypto.com Visa Card or higher
USD $25
Spend a minimum of USD 100
for your first transaction
with the Crypto.com Visa Card
USD $10
Buy/sell a total of USD 500 of crypto
in the Crypto.com App within
30 days after you pass KYC
USD $10

You will need to stake enough CRO (in the equivalent amount in your home currency) to unlock a Ruby Steel card or higher.

You can read more about the referral program on Crypto.com’s website, and the additional referral bonuses here.

Celsius Referral (Earn $50 USD in BTC)

If you are interested in signing up for a Celsius account, you can use my referral link.

Alternatively, you can enter my referral code ‘174656489c‘ when you are on the sign-up page.

Celsius Referral

Here’s what you need to do to earn the $50 USD reward:

  1. Sign up for a Celsius account
  2. Verify your account
  3. Transfer a minimum of USD $400 worth of cryptocurrency into your wallet for the very first transaction
  4. Hold your balance for at ≥ 30 days
  5. Receive $50 USD worth of BTC in your Celsius account (after 30 days)

The reward will only be unlocked 30 days after your initial transfer of $400 USD.


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