The world is rapidly becoming digital. People are now embracing cryptocurrency as a method of payment that is only available in digital or virtual form.
Trust Wallet is a popular app that you can use to hold your cryptocurrencies. Whether you use an Android or iOS smartphone, you may use Trust Wallet to hold your digital assets securely. It provides a decentralized environment allowing you to keep peace of mind as you continue to use this wallet.
If you’ve bought a Safemoon coin on PancakeSwap Exchange, you must be looking forward to transferring it into your Trust Wallet. Or maybe you just want to figure out how to sell Safemoon on Trust Wallet. Either way, read on as I share steps on how to do it.
What Is A Trust Wallet?
Trust Wallet is a well-known tool for storing your cryptocurrency. You may use Trust Wallet to secure your digital assets with an Android or iOS smartphone.
It provides a decentralized environment, allowing you to continue to utilize your wallet with confidence. Furthermore, it holds digital currencies and allows users to access their ecosystems.
Why Trust Wallet?
There are several reasons why Trust Wallet is popular among both new and seasoned users.
To begin with, Trust Wallet is a user-friendly smartphone app that is far easier to use than the majority of others.
Secondly, Trust Wallet users have complete control over their funds and can directly trade NFTs on a variety of exchanges. This program also allows you to send NFTs to your friends and relatives. Trust Wallet does not collect user data.
The developers of Safemoon recommend Trust Wallet as one of the apps to purchase Safemoon. If you purchased a Safemoon coin on PancakeSwap Exchange, you’re probably eager to get it into your Trust Wallet. Or perhaps you want to learn how to sell Safemoon on Trust Wallet.
Also Read: How to Buy Safemoon on Bitmart: Step-by-Step Guide
What Are The Advantages Of A Trust Wallet?
Users can profit from trust wallets in a variety of ways, including:
- Trust wallets are among the most secure ways to store and transfer digital assets because of their superior security standards.
- Trust wallets are simple to use, even for people new to the world of cryptocurrencies, because of their user-friendly UI.
- Support for many languages: Trust wallets are available in various languages, allowing people from all around the world to use them.
- Trust wallets are compatible with a number of leading cryptocurrency exchanges, providing consumers with greater options for purchasing and selling digital assets.
Also Read: 15 Best Bitcoin Wallets Of 2022
How To Sell Safemoon On Trust Wallet
You’ll need to go to a cryptocurrency exchange to withdraw your Safemoon tokens. Safemoon is built on the Binance blockchain, so we recommend creating an account there. You will be able to convert Safemoon tokens to Binance coins with the assistance of Binance.
You can effectively sell them for USD or any other supported currency by following a few simple steps.
Related: How to Buy Bitcoin with Credit or Debit Card
Step 1 – Visit Trust Wallet
The first step to selling Safemoon on Trust Wallet is to go to the Trust Wallet main page where you can find a Safemoon address.
Before moving on to the next phase, you should look at how much Safemoon you have in your wallet.
Step 2 – Open Pancake Swap On Trust Wallet
The next step is to open Pancake Swap exchange on Trust Wallet which is highly recommended. You are free to utilize any other exchange you like.
Step 3 – Swap Safemoon And Get BNB
In the pancake swap, click on the BNB (Binance Coin) Symbol. After that, you can use the search box to look for Safemoon. Then choose how much Safemoon you want to swap.
A confirmation page will appear once you select the amount. This will give you a good sense of how much the BNB network will cost.
You should then select the aquamarine icon, which may be found next to the clock symbol. After that, you can confirm the swap.
Step 4 – Convert Smart Chain To BNB Binance Chain
At this point, Safemoon has now been converted to BNB and is available on the Binance Smart Chain. As a result, you’ll need to go to Trust Wallet’s main menu and select BNB.
After that, select “Swap to Binance Chain” from the drop-down menu. Then complete the procedure and go to the next stage by clicking the confirm page.
Once you’ve done that, you can send BNB to an external wallet address.
Step 5 – Send BNB To The Binance Account
If you want to sell Safemoon, submit all of your converted BNB to Binance. We recommend Binance over any other cryptocurrency exchange because Binance Coin is the exchange’s native coin.
You must withdraw your funds from Trust Wallet and deposit them into your bank account. To move forward, you must complete this step. The Binance account has the BNB Memo Number Wallet, which you can find.
Then you should get the recipient’s address and send BNB from your Trust Wallet to your Binance wallet.
Step 6 – Selling BNB For Fiat Currency
You’ve reached the final step in selling Safemoon on Trust Wallet. This is where you should enter your Binance account details and log in. Then you can move on to the Withdraw tab.
You’ll need to convert all BNB in your Binance account to USD. Then you can consider converting it to any other currency of your choice. Go to the “Buy Crypto” page and select “USB/BNB” as the trading pair.
Binance gives you the option of initiating the withdrawal using any payment method. As a result, you can customize your payment card or bank account information before proceeding.
Step 7 – Withdrawing Money To The Bank Account
You should have successfully converted Binance Coin (BNB) to US Dollars by now. So you may take money out if you want. On your Binance account, go to the “Fiat and Spot” menu and select “Fiat and Spot.”
This step can only be completed after you have converted your BNB into USD. It does not have to be in USD, and you may consider changing to another currency.
You must also verify your Binance account before initiating a withdrawal. If not, you’ll need to complete the Binance account verification process.
What Exactly Are Safemoon Tokens?
Safemoon is a digital cryptocurrency created in March 2021 and is similar to Ethereum and Bitcoin. It is a digital currency that only exists online and is based on Binance Smart Chain technology. It was created to encourage long-term investment and discourage sales. When selling Safemoon coins, they charge a 10% commission.
It was created to prevent greater declines in various volatile digital currencies. Safemoon tokens can be traded and sold for a profit when it hits a high point. Due to the extreme volatility of Safemoon tokens, many people end up making excellent profits by selling them.
It is vital to remember that Safemoon cannot be sold directly on a decentralized exchange, such as Trust Wallet.
Also Read: Top 10 Cryptocurrencies To Invest In 2022
What Is The Mechanism Behind Safemoon?
Safemoon works by connecting buyers and sellers directly through a peer-to-peer network of nodes. Each node keeps a copy of the encrypted transaction data, which aids in the protection of user data from hostile actors like hackers.
Furthermore, Safemoon uses smart contracts to automate numerous operations such as payments, delivery, and dispute resolution, allowing users to conduct transactions on the platform quickly and easily.
How To Exchange BNB For USD
- 1. Go to the Binance US website and click on the “Sell” link under “Buy Crypto.”
- 2. Under “Sell,” choose “BNB,” and “USD” under “Payment Method.”
- 3. Select “Max,” then “Sell BNB.”
- 4. Congratulations, your SafeMoon has now been sold for USD.
Binance US is also unavailable in several states, including Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, and Vermont. Residents of these states will have to sell SafeMoon in a roundabout way.
They’ll need to send BNB to Atomic Wallet, trade it into Stella Lumens (XLM), and then send XLM to Coinbase to exchange for USD.
Always exercise caution while purchasing cryptocurrency, particularly meme tokens. They are a very volatile asset class that can drop as quickly as they can climb. Always remember to handle your risks properly.
What Time Is The Best To Sell Safemoon For USD Or Other Currencies?
To choose the optimal moment to sell, one must be familiar with the crypto market and what is happening there.
Selling Safemoon in smaller increments is not recommended because a transaction fee is charged each time. If it is for long-term investment, then, patience will yield a better return.
Conclusion
To sell Safemoon on Trust Wallet, you should first exchange your Safemoon tokens for BNB. After that, you should pay BNB to a Binance account and then request a withdrawal from that account. Following these processes, money should be deposited into your bank account or credit card. If you follow these procedures, you should be able to complete the task.
FAQs On Safemoon
Tap the “Convert” button if you’re using the Coinbase Wallet plugin. Enter the amount of ETH you’d want to swap for SafeMoon Inu and search for it. Remember to budget for transaction costs. Confirm your purchase and complete the process by following the on-screen instructions.
To change your Trust Wallet from safemoon to BNB, you need to follow these steps:
1. Add safemoon
2. Select Smart Chain from the “Buy” menu at the top of the app (BNB).
3. Go to trust wallet’s browser and select pancake swap.
According to CoinMarketCap, SafeMoon’s total market value is close to $1 billion, putting it 214th in terms of market dominance. Not bad for a brand new cryptocurrency fighting against over 9,000 others, but it’s not necessarily a smart investment.
To withdraw your cryptocurrency from Trust Wallet, you must first sell it on Binance. To do so, copy the Binance address of your cryptocurrency (for example, Ethereum).
You sell your cryptocurrency to another person for cash on a peer-to-peer platform. You might request that the buyer make a cash deposit, a bank transfer, or meet in person to complete the transaction. Always check for confirmation of ID and payment before giving your cryptocurrency to this person.
References
- metaschool.so – How to sell Safemoon on Trust Wallet.
- earthweb.com – How To Sell Safemoon On Trust Wallet App In 2022
- naponewsonline.org – How To Sell Safemoon On Trust Wallet – Step by Step Guide
Recommendation.
