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How to transfer money from metamask to bank account

21.11.2021 0 14

Metamask is one of the best and most secure cryptocurrency wallets to store digital currencies with Ethereum standards. However, you should be able to sell Ethereum or other cryptocurrencies through it. If you can not sell Ethereum, you can not withdraw money to your bank account. To transfer money from metamask to a bank account, you must first go to an online exchange.

There are many cryptocurrency exchanges, including Binance, Coinbase, Gemini, and Kraken. We recommend using Binance, which has one of the lowest costs among other cryptocurrency exchanges. By selling Ethereum in Binance, you specify the Fiat currency you will receive in your bank account. In the continuation of this article, we will teach you how to transfer money from a Metamask wallet to a bank account.

Transfer money from MetaMask to the bank account

To transfer money from the Metamask wallet to your bank account, you must first send Ethereum or other cryptocurrencies in the wallet to Binance. After that, sell the cryptocurrency in Binance and get the Fiat currency in your bank account. You can not sell Ethereum or other cryptocurrencies directly in Metamask, so you must send Ethereum to Binance.

In Binance, it is possible to sell Ethereum and receive Fiat currency in a bank account. This platform offers several withdrawals methods for its users. Withdrawal methods depend on your location and where you live. One of the best ways to get money from Binance is Bank Card or instant card withdrawal method.

By using instant card withdrawal, the process is completed in 5 minutes. However, one percent of the transaction fee is deducted for EEA customers. To be able to transfer money from Metamask to a bank account, first see the following methods:

Create a Binance account

Before transferring money from Metamask to a Bank account, sell your Ethereum in a cryptocurrency exchange. Binance is one of the best options for this.

First, go to the Binance website and click on Register.
On the registration page, enter your email address and a password.
After creating an account in Binance, you must also perform the authentication steps.
There are two methods of authentication, basic and intermediate. The basic method asks you for your address or date of birth information. The intermediate way asks you to upload an ID for authentication and asks for a photo of you. Once you have completed any of these authentication methods, you will be given full access to the Binance options.

Copy Ethereum address from Binance

Once your Binance registration process is complete, you will need to copy your Ethereum address from Metamask. You must send Ethereum to Binance at this point.

To do this, first, click on the Wallet option next to Fiat and Spot.
In fiat and spot wallet, you will see a complete list of your cryptocurrency inventory.
Scroll to the bottom of the list to find ETH.
When you see ETH, click on Deposit.
Then go to the Deposit crypto page.
First, set the Coin menu to ETH if it is not ETH.
Then select ERC20 from the Network menu.
You can see your Ethereum address when you select the ERC20 network.
Copy this URL by clicking the Duplicate icon.

Send crypto from Metamask to Binance

Open your Metamask wallet after copying your Ethereum address from Binance.
Then enter the Metamask password to open the wallet.
When you enter Metamask, select the Ethereum mainnet option.
You can now see the Ethereum inventory with three different icons.
These three icons are, buy, sell and exchange.
From where you want to send Ethereum to Binance, click Send.

withdraw money from metamask to bank account

You will then be taken to the Add Recipient page.
Now you need to enter the Ethereum address that you copied from Binance in this section.
You will see a Search option with a public address 0x.
You must enter the address here.

You will then be taken to the Ethereum upload page.
You will also see a tick at the top of the page.
This tick indicates that the address entered is correct.
There are options on this page such as Asset and Amount.
First, select ETH in the Asset section.
Enter the amount of Ethereum you want to send in the Amount section.
Finally, click Next next to Send Ethereum to Binance.
The transfer money system takes about 30 minutes to complete.

Cryptocurrency sales at Binance

Now you need to sell the Ethereum you sent to Binance from Metamask. Therefore, you can receive Fiat currency in your bank account from Binance.

First, go to the sales page in Binance.
In this section, for the Spend menu, select the ETH option.
Then enter the amount of Ethereum you want to sell.
Now you need to specify the Fiat currency you want to get by selling Ethereum.
Finally, select Continue and sell Ethereum for a specific Fiat currency with the relevant instructions.

Withdraw your money from Binance

Now that you have sold Ethereum, you should receive Fiat currency in your bank account.

To do this, click on the Wallet option next to Fiat and Spot.
In fiat and spot, you can see the amount of fiat currency balance.
Click Withdraw to go to the withdraw money page.

Follow the steps below to receive Fiat currency in your bank account:
First, select the currency you want to withdraw as Fiat currency in the Currency menu.
Select the payment method in this section, for example, Bank Card.
Specify the amount of currency received and write in the Amount section.
If you use the Bank Card method, click the Add New Card option and enter your international card details.
Select the Continue option.
Then you need to follow the steps of the security verification system.
This option includes a six-digit code sent to your phone.

After completing the security verification, you should see the Order Submitted option.
Now your Fiat currency will be successfully transferred to your bank account in the next few minutes. Congratulations, you were able to withdraw money from Metamask to your bank account.
If you have chosen the Bank Card method, the money will be credited to your account for up to 10 minutes.
However, for payment methods such as Swift, you have to wait for one to four days for the money to reach your account.

Conclusion

To be able to transfer Fiat currency from Metamask to a bank account, you must first connect it to Binance and then register in Binance and apply for cryptocurrency sales and withdrawal by following the steps we described. Each transaction involves a fee, so your initial cryptocurrency is slightly reduced. Also, be careful when entering the crypto address.