OpenSea is an exchange where you can sell your items for ETH, the digital currency of Ethereum. As a seller, you will need to transfer your newly acquired ETH to your wallet. This article will explain how to withdraw funds from OpenSea.
How To Withdraw Money From OpenSea?
OpenSea allows you to trade NFTs on the portal. This means you can buy, create, and sell NFTs on the platforms. With this certainly you will earn some money.
You can then easily withdraw the money to your account. With OpenSea, you will have to first convert the crypto to local currency and transfer it to your bank account.
Check out the relevant steps to withdraw funds from OpenSea below.
Convert Crypto To Local Currency
You can also withdraw cryptocurrency from the crypto wallet to your crypto exchange wallet and then convert it to currency. But before starting, here are some certain things that you will have to follow.
- Connect a crypto wallet to OpenSea. It can be MetaMask, Rainbow, and Coinbase wallet.
- Create an account on a cryptocurrency exchange. You can use Binance, coinbase, or FTX.
Withdraw CryptoCurrency To An Exchange
When you are trying to transfer a cryptocurrency to your wallet for the first time, it is highly recommended to use only a small amount. This will help you get familiar with the whole process. You must know that any transaction on Blockchain is irreversible and hence, your funds can be lost forever.
Here, we are going to discuss how to withdraw ETH from Metatask to Binance. check out all the steps properly.
Step 1: Create An Account On Binance
- For this, you will have to open the official Binance website or binance.com. On the website, tap on the register option.
Now, the registration page will open on your system. Here, you will have to type your address, password, and email.
- You will then have to accept all the terms and conditions and then tap on the create account option.
- When you create the account, it will undergo verification. Here, you may have to go through the verification by entering some basic information or uploading your ID.
Step 2: Copy And Paste The Ethereum Address
On your Binance dashboard, you will have to click on the wallet icon and then click on the Fiat and spot tab.
Under this tab, you will get a list of balances of all your cryptocurrencies.
From the list, tap on the ETH option.
Now, you will have to tap on the deposit option.
It will then redirect you to the deposit crypto portal.
On the page, tap on the coin box and if ETH is not selected, select the same.
In the next window, tap on the ERC20 network option under the network drop-down menu.
In the network, you can see the Ethereum address.
Tap on the Copy icon and then copy the address.
Step 3: Transfer Ethereum From MetaMask To Binance
Now, switch from the Binance app to MetaMask wallet.
Type your password properly and unlock the wallet.
You will now have to tap on the Ethereum Mainnet network.
Under this, you will get the balance and the option for buy, swap, or send.
You will have to tap on the send option.
Now, paste the Ethereum address that you have copied.
Tap on the search public field.
Now, paste the address.
You will now be redirected to the send page. Look for the tick icon on your screen. It implies that you are using a valid address.
Under the asset option, ensure you have chosen ETH.
Hover to the amount section and then type the amount.
Click on Next and then tap on send option.
It will take approximately 30 minutes to complete.
Step 4: Sell Ethereum
For this, hover to the selling page on the Binance application.
Under this, choose ETH and then click on the spend option.
Type the amount of Ethereum.
Now, choose the currency under the receive option.
tap on the continue option.
Step 5: Withdraw The Money
for this, tap on the wallet icon and then choose fiat and spot opinion,
Under this, all the cryptocurrency balances will appear on the screen.
Tap on the withdraw option.
Now, from the drop-down menu, choose the currency.
Also, choose the payment method that you are going to use.
Type the amount you wish to withdraw to the account.
In case you are attempting to use a bank card, choose to add a new card.
tap on the continue option.
Now, a verification code will be sent to your phone number. Enter the code and submit.
It may take up to 5 minutes if you are using a bank card.
Also Read: Can MetaMask Wallet be Hacked?
Conclusion
Withdrawing Money from OpenSea is a simple process. You can withdraw your remaining ETH balance by sending it to another wallet app of your choice.
All you have to do is click on the “Withdrawal” button under “My Funds” on OpenSea’s website; enter the number of Ethers you want to withdraw, select “Send To Wallet”, and choose the wallet application or address you would like to send it to.
Note that the withdrawal button only appears if your balance is greater than 0.001 ETH (0.1 BFT). Also, be mindful that you cannot use this feature if your address doesn’t have a sufficient amount of Ethers or your transaction fee is low.
If you need help with other issues, please contact us at https://support.opensea.io/ and they will be glad to help you with your query.
