As we all know, MetaMask is a crypto wallet where we dump our crypto assets for their safe storage. In case, you have just gotten started with using this wallet service on your device via the MetaMask extension, then you might be interested to know a few of its usage procedures. Similar to this, new users often end up looking for ways to fund their wallets or take money out of their accounts. Hence, in today's post, I will be making it pretty easier for you to withdraw the deposited crypto assets to your preferred exchange account. Further, these crypto assets can be withdrawn to a bank account and cashed out.
Well, you'll be glad to know that the process to convert your crypto assets into fiat currency is pretty simple and you do not need to go through a hurdle-some process to get the things done. However, if you are someone who does not have the slightest ideas to get things done, then you surely need some guidance on the same.
In short, you need to follow a two-stage process to achieve your goal.
Stage 1- Transfer funds from the MetaMask extension to an exchange
Stage 2- Withdraw funds from the exchange to your bank account
So, first, let's learn to transfer funds from MetaMask
Whether you are using the MetaMask Chrome extension or its mobile app, the steps to initiate a transfer would be identical:
- First up, you need to sign in to your MetaMask wallet as you usually do
- After this, you need to make sure that you are on the correct account
- Further, choose the crypto asset that you wish to withdraw
- Now, click on the "Send" button
- Fetch the address of your exchange account (e.g. Binance Deposit Address)
- Following this, you can enter this deposit address
- Lastly, enter the amount to be withdrawn and confirm the transaction
- Check your Binance account balance to see if the process went successful
Withdrawing from your exchange account to your Bank account
In case you have chosen Binance exchange in the previous segment where we withdrew funds from the MetaMask Chrome extension, then you can follow the steps below to complete the entire process:
- Navigate to the Binance web exchange from your device
- Followed by this, you can go to the "Trade" option
- Hit the "Binance Convert" option
- Further, you can choose the crypto that you wish to sell
- Also, choose the fiat that you wish to receive
- In this step, select the "Preview Conversion" option
- Further, you can select the "Convert" option
Now, you can check your bank account balance to see if the process actually got completed.
Summing it up:
While using the MetaMask extension for the very first time, you might not be aware of several procedures. One such procedure that people always keep looking for is the method to withdraw crypto funds out of their MetaMask wallets. Hence, if you have landed on this page, you must have got an idea of how to achieve that task.