MetaMask is a cryptocurrency wallet that allows you to store your Ethereum.
However, you won’t be able to sell your crypto on it because it’s not an exchange.
If you don’t sell your crypto (e.g. ETH), you won’t be able to withdraw money to your bank account.
If you want to sell your crypto, you need to use a cryptocurrency exchange like Binance or Coinbase.
Binance is highly recommended because it has one of the lowest fees.
By selling your crypto on Binance, you can choose the currency that you want to receive.
For example, if you live in Europe, you can select the “EUR” currency.
In this guide, you’ll learn how to withdraw money from MetaMask to your bank account by selling your Ethereum on Binance.
How to withdraw money from MetaMask to bank account
To withdraw money from MetaMask to your bank account, you need to send your crypto (e.g. ETH) to a cryptocurrency exchange like Binance.
Next, sell your crypto on Binance for fiat money (e.g. USD) and withdraw it to your bank account.
Do note that you won’t be able to sell your crypto on MetaMask because it’s not a cryptocurrency exchange.
Hence, you need to send your crypto to a cryptocurrency exchange like Binance and sell it there.
- Create a Binance account
- Copy your Ethereum address on Binance
- Send your Ethereum from MetaMask to Binance
- Sell your Ethereum on Binance
- Withdraw your money from Binance to your bank
1. Create a Binance account
Get started on Binance here: https://www.binance.com/en/register?ref=73583477 or use “73583477” as the referral code.
- Go to binance.com and click on the “Register” button.
- Enter your email address, choose a password, and use “73583477” as the referral ID.
- Accept the terms of service and click on “Create Account”.
- Verify your identity by uploading a government ID and taking a photo of yourslef.
Note: To withdraw your money from MetaMask, you need to sell your crypto on an exchange like Binance first.
2. Copy your Ethereum address on Binance
- Log in to Binance > Wallet > Fiat and Spot.
- Scroll down the list until you find the crypto that you want to sell for money (e.g. ETH).
- Click on “Deposit” next to the crypto that you want to deposit (e.g. ETH).
Note: After you’ve created a Binance account and verified your identity, you need to copy your crypto address of the crypto that you want to sell (you need to send that crypto from MetaMask to this address later on).
- Select the crypto that you want to deposit/sell from the “Coin” dropdown box (e.g. ETH/BTC).
- If you’re depositing Ethereum, select the “ERC20” network.
- Copy your crypto address by clicking on the duplicate icon.
3. Send your Ethereum from MetaMask to Binance
- Open your MetaMask wallet and unlock it.
- Navigate to the crypto (e.g. ETH) that you want to sell.
- Click on “Send” to withdraw your crypto.
- On the “Add Recipient” page, you’ll see a “Search, public address (0x), or ENS” field.
- Paste your Binance wallet’s crypto address from from step #2.
- Select the crypto that you want to send in the “Asset” field (e.g. ETH).
- Enter the amount of crypto that you want to withdraw to Binance.
- Click on “Next” followed by “Send” to send your crypto to Binance.
Note: The withdrawal process will typically take about 30 minutes to complete.
4. Sell your Ethereum on Binance
Sell your Ethereum on Binance here: https://www.binance.com/en/buy-sell-crypto?type=SELL.
- Go to the selling page on Binance here: https://www.binance.com/en/buy-sell-crypto?type=SELL.
- On the selling page, select the crypto that you want to sell on the “Spend” field (e.g. ETH).
- Enter the the amount of crypto that you want to sell.
- Select the currency that you want to receive in the “Receive” field (e.g. EUR).
- click on “Continue” and follow the on-screen instructions to sell your crypto for fiat money.
5. Withdraw your money from Binance to your bank
Note: Now that you’ve sold your Ethereum for fiat money on Binance, you’ll be able to withdraw it to your bank account.
- Click on “Wallet” followed by “Fiat and Spot” to go to your fiat and spot wallet.
- On your fiat and spot wallet, you’ll see your fiat and cryptocurrency balances.
- Click on “Withdraw” at the top of the page to go to the withdrawal page.
After you’ve clicked on “Withdraw”, you’ll land on the withdrawal page.
Here’s what you need to do to withdraw your money to your bank account:
- Select the currency that you want to withdraw using the “Currency” dropdown box (e.g. EUR).
- Select the payment method that you want to use (e.g. Bank Card”).
- Enter the amount that you want to withdraw to your bank account in the “Amount” field.
- If you’re using the “Bank Card” payment method, click on “Add New Card” and enter your card information.
- Click on “Continue”.
After you’ve clicked on “Continue”, you need to complete a security verification.
This includes entering a 6-digit code that is sent to your phone number.
After you’ve completed the security verification, you’ll see an “Order Submitted” pop-up.
This means that you’ve successfully withdrawn money from Binance to your bank account!
The withdrawal process will typically take 5 minutes if you’ve selected the “Bank Card” payment method.
However, if you’re using a payment method like SWIFT, it can take 1 to 4 business days for the money to arrive in your bank account.
To check the withdrawal status, click on “View History” on the pop-up or click on “Transaction History” on the left sidebar of your fiat and spot wallet.
Conclusion
If you want to withdraw money from MetaMask to your bank account in the future, you need to send your crypto (e.g. ETH) to Binance first.
Then, you’ll be able to sell your crypto for fiat money and transfer it to your bank account.
Keep in mind that every transaction you make involves a fee.
Hence, it’s a good idea to withdraw your money from MetaMask to your bank account only if you want to sell a lot of crypto.
Whenever you’re sending crypto (e.g. ETH) from MetaMask, make sure that you’ve entered the right address or your crypto will be lost.
