Yes, you can either sell your assets directly inside the crypto wallet if it supports it, like MetaMask, or transfer them to an exchange and sell them there.
However, if you are on an Exchange Wallet, you can simply sell it and get the money directly into your bank account.
Take a Look: Top Crypto Wallets
How to Withdraw Money from a Crypto Wallet?
Crypto wallets do not usually contain any fiat currency (i.e., traditional money); they contain the passwords to your crypto addresses on the blockchains where the crypto actually resides.
Most of these crypto wallets support a huge number of blockchains and cryptocurrencies. They also support stablecoins, which are pegged to real money, such as USDT, which is pegged to the US Dollar in a 1:1 ratio.
Now, to get the money into your bank account or wallet, you need to sell them.
Stepwise Process
Most crypto wallets, like MetaMask and Coinbase Wallet, allow you to buy or sell cryptocurrencies directly within the wallet via third-party integrations such as Transak and OnRamp.
Follow these few steps, and you can easily cash out from any wallet. We have used MetaMask to show the process because it is the most popular wallet. Other wallets also follow a similar process.
- Identify the Chain and the Cryptocurrency in your wallet that you want to cash out.
- See if you have the native token to cover gas fees. You can check gas prices here to estimate transaction costs.
- Once done, either use an in-built selling service like Transaak. MetaMask’s in-app selling service is shown below.
- Choose the chain and the crypto; for example, Ethereum is the chain, and USDC is the crypto.
- Set the amount of crypto you want to sell.
- Choose the payout method.
- Finalize the transaction.
Frequently Asked Questions
Which is the most popular crypto wallet?
MetaMask is the most popular non-custodial crypto wallet, and Binance is the most popular custodial wallet.
Do I need KYC to sell crypto from a wallet?
Yes, in most countries, there is a mandatory KYC requirement to sell crypto even from a wallet.
Disclaimer: Kooh Crypto is a website only to share information; therefore, any information on this website is purely for educational purposes and does not constitute financial advice. Please consult a financial adviser before acting on any information regarding crypto markets.
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