Trust Wallet is essentially a hot wallet which means that it is connected to the internet. The big benefit of a digital wallet like Trust is that you can immediately offload cryptocurrencies.
Active selling is particularly useful for crypto traders who buy and sell many times a day.
Want To Be The Next Big Cryptotrader?
This article goes over how to sell using Trust Wallet and all the other questions you might have.
How To Sell On Trust Wallet?
There are essentially three ways you can sell from Trust Wallet-
- You can do a decentralized PancakeSwap exchange with any other user to sell your crypto.
- One can also swap their cryptocurrency to a large stable coin to sell on Trust Wallet.
- The second feature is to go through the centralized cryptocurrency exchange and put your coins to sell.
How To Sell On Trust Wallet Through PancakeSwap?
Steps to Sell on Trust Wallet Through PancakeSwap:
Step 1: Go to the Trust Wallet and Enter your 12-word recovery phrase.
Step 2: Below the home screen you will find four menus, select the Dapp section.
Step 3: In the popular or exchanges section, you will find the Pancake Swap application.
Step 4: Click Pancake Swap
Step 5: Click on the “Connect Wallet” and a new pop-up will show up.
Step 6: Select the Trust Wallet application option.
Step 7: Connect DApp menu will open and click on the connect button.
Step 8: You will then take to the home page with your Trust Wallet.
Step 9: Now click on the top token section and select the token of your choice
Step 10: Now type in the amount you want to swap or click on max for swapping all your tokens.
Step 11: Now in the arrow pointing below select the token of choice
Step 12: Remain the version to V2 and click on Swap.
Step 13: You will then see a menu with the details and an estimate for the swap.
Step 14: Click on the “confirm Swap” button
Step 15: Awaiting for confirmation menu will show up on the screen.
Step 16: A confirmed transaction screen will show up with network fees and other information.
Step 17: click on the approve button. It will go through waiting for a confirmation message.
Step 18: Now you will see a pop-up with a transaction submitted message.
Step 19: Close the app and re-open the trust wallet app by entering your 12-word recovery phrase.
Step 20: In the wallet section you will now see the updated tokens.
Step 21: If not, wait for a few minutes for the pending transaction to be completed and do a pull down to see the newly updated tokens.
Also Read: How to Restore Trust Wallet?
How To Sell BNB On A Trust Wallet?
If you own BNB on Trust Wallet, you must have noticed there’s no direct way to sell without Binance. Here’s a simple step-by-step guide on how you can sell BNB and convert it to fiat currency.
Steps to Sell BNB on Trust Wallet:
Step 1: Go to the Dex feature in the Trust Wallet and select BNB to convert it into a stable coin BUSD currency.
Step 2: You will enter the desired amount of BNB and click on Swap.
Step 3: Select the desired slippage rate of the transaction and click on send.
Step 4: Now select the BUSD and click on send to withdraw
Step 5: A pop-up will arrive on the screen requiring you to fill in the recipient’s address or scan the QR code.
Step 6: Click on the deposit option and select the BUSD in your Binance profile.
Step 7: Ensure you are the right network on exchange and copy the Binance receive/deposit address.
Step 8: Paste it into the Trust Wallet app and enter the amount you would like to send.
Step 9: The BUSD amount will now be sent to the Binance centralized exchange wallet.
Step 10: Now go onto the desktop website of your Binance exchange wallet and click on the withdrawal button.
Step 11: On the top right hand of the screen, you will see the” Withdraw Fiat” button.
Step 12: Type in the fiat currency you want to withdraw and the BUSD amount to fill in.
Step 13: Click on add new card under the beneficiary section to withdraw to your Bank account.
Also Read: How to Enable DApp Browser on Trust Wallet?
How To Sell SafeMoon On A Trust Wallet?
To sell a SafeMoon on Trust Wallet, you will be using Pancake Swap, a decentralized exchange application to exchange tokens. In the Trust wallet, you can find it under the history tab or under “New DApps.” Here are the steps required to sell Safemoon to BNB or any desired token.
Steps to Sell SafeMoon on Trust Wallet:
Step 1: Go to Trust Wallet and enter a 12-word recovery phrase.
Step 2: On the home screen you will see four menus, choose the Dapp section.
Step 3: Search for popular or exchanges sections, select the Pancake Swap application.
Step 4: Select Pancake Swap.
Step 5: Click on the “Connect Wallet” and a new pop-up will show up.
Step 6: Choose the Trust Wallet application option.
Step 7: You will be transferred to the homepage of your Trust Wallet.
Step 8: Tap on the top token section and select Safemoon
Step 9: A notice will appear giving you the notice for trading SAFEMOON.
Step 10: Click on I understand and tap on continue.
Step 10: Enter the amount you want to swap or click on max for swapping all your tokens.
Step 11: Now in the arrow pointing below select the token of your desired choice.
Step 12: Remain the version to V2 and click on Swap.
Step 13: You will then see a menu with the details and an estimate for the swap.
Step 14: Click on the gear button on the right side of the Swap heading
Step 15: A new pop-up will appear, scroll to the Swaps and Liquidity section.
Step 16: In the slippage tolerance section on the extreme right menu.
Step 17: Manually enter the slippage tolerance to 12 percent based on the guidelines.
Step 18: Click on the X button on the right side of the corner to close the pop-up menu.
Step 19: Select the “confirm Swap” button
Step 20: A menu for confirmation will show up on the screen.
Step 21: The confirmed transaction menu will show up with network fees and other information.
Step 22: Select the approve button and it will go through waiting for a confirmation message.
Step 23: Now you will see a pop-up with a transaction submitted message.
Step 24: Close the app and re-open the trust wallet app by entering a 12-word recovery phrase.
Step 25: In the wallet section you will now see the updated tokens.
Step 26: If not, wait for a few minutes for the pending transaction to be completed and do a pull down to see the newly updated tokens.
You can now further make transactions in Binance and trade for any other stable coin.
Also Read: Trust Wallet Identity Verification
SafeMoon Not Showing Up In The Trust Wallet
When SafeMoon is not showing up, it signifies that you have not added the crypto to Trust Wallet. Here’s a step-by-step process to add SafeMoon to your wallet.
Steps to Showing SafeMoon in Trust Wallet:
Step 1: Go to CoinMarketCap.com and search for SafeMoon crypto.
Step 2: Click on the currency and find the transaction you’ve done.
Step 3: Copy the token address.
Step 4: Go to the setting of Trust Wallet and add it to the search setting.
Step 5: Enable SafeMoon, and now you will see the coin on the Token section.
Can You Sell On Trust Wallet?
Yes, you can sell cryptocurrency through the Trust Wallet app by using an exchange or pancake swap option. There is no direct way for a user to sell through Trust Wallet.
What Are The Fees That Are Charged When Selling Your Cryptocurrency?
It depends on the exchange platform and their policies on crypto. Some platforms that are high volume in nature like to charge minimal fees, while others might charge high.
On top of the exchange platform fees, there are Network, Gas fees you might have to pay.
Check what charges are being placed before you sell.
What Are The Taxes Involved When You Sell Crypto?
The taxation involving cryptos is different in different countries. Most probably, you will be required to pay capital gains tax. The taxation system can be quite similar to selling stocks. However, do a cursory search and study tax laws before making large investments.
Also Read: MetaMask Vs Trust Wallet
Final Thoughts
Selling using Trust Wallet is fairly uncomplicated and easy to grasp once you understand it. The whole system is fairly secure, and with the right strategy, you can make huge returns.
Start your Trading system with the Trust Wallet app today!!
