Before transferring money from MetaMask to your bank account, understanding a few key concepts and processes is essential. MetaMask is a non-custodial wallet primarily for Ethereum and ERC-20 tokens, meaning it doesn’t directly support fiat withdrawals.
To cash out, you’ll need to convert your cryptocurrency into fiat currency (like USD, EUR, or CAD) through an exchange or MetaMask’s Sell feature, where available. Here’s what you need to know to prepare.How to Bridge on MetaMask?Bridging is the process of transferring tokens between different blockchain networks to ensure compatibility with your chosen exchange or platform.
For example, if your tokens are on a network like Arbitrum but your exchange only supports Ethereum Mainnet, you’ll need to bridge them. Here’s how:
How to Swap Tokens on MetaMask?Swapping tokens allows you to convert one cryptocurrency (e.g., a less liquid ERC-20 token) into a more widely accepted one, like ETH or USDT, which exchanges typically support for fiat conversion. To swap tokens:
This feature simplifies the process by reducing intermediaries, but it’s not available globally. Here’s how to use it via different platforms.
Via Web Browser
How to Withdraw Money From MetaMask to Your Bank Account via Crypto ExchangesIf MetaMask’s Sell feature isn’t available in your region, transferring your crypto to a centralized exchange is the most reliable way to convert it to fiat and withdraw to your bank account.
Below are steps for three popular exchanges: Binance, Bybit, and Kraken.Binance Kraken
ConclusionsTransferring money from MetaMask to your bank account is straightforward once you understand the process.
For users in supported regions, MetaMask’s Sell feature offers a direct way to convert crypto to fiat and deposit it into a bank account or PayPal. Otherwise, using a reputable exchange like Binance, Bybit, or Kraken provides a reliable alternative.
Always ensure network compatibility when bridging or transferring, double-check wallet addresses, and account for gas and exchange fees to avoid surprises
To cash out, you’ll need to convert your cryptocurrency into fiat currency (like USD, EUR, or CAD) through an exchange or MetaMask’s Sell feature, where available. Here’s what you need to know to prepare.How to Bridge on MetaMask?Bridging is the process of transferring tokens between different blockchain networks to ensure compatibility with your chosen exchange or platform.
For example, if your tokens are on a network like Arbitrum but your exchange only supports Ethereum Mainnet, you’ll need to bridge them. Here’s how:
- Connect to MetaMask Portfolio: Open your MetaMask wallet and navigate to portfolio.metamask.io.
- Select Bridge Option: In the portfolio dashboard, click “Bridge.”
- Choose Networks: Select the source network (where your tokens currently reside) and set the destination to the desired network, such as Ethereum Mainnet.
- Confirm Transaction: Enter the token amount, ensure you have enough funds for gas fees, and confirm the transaction. Bridging times vary based on network congestion but typically take a few minutes.
How to Swap Tokens on MetaMask?Swapping tokens allows you to convert one cryptocurrency (e.g., a less liquid ERC-20 token) into a more widely accepted one, like ETH or USDT, which exchanges typically support for fiat conversion. To swap tokens:
- Open MetaMask: Access your wallet via browser extension or mobile app.
- Click Swap: On the main screen, select the “Swap” button.
- Select Tokens: Choose the token you want to swap and the desired output token (e.g., ETH or USDT).
- Enter Amount: Input the amount to swap and review the gas fees.
- Confirm Swap: MetaMask aggregates liquidity from decentralized exchanges (DEXs) to execute the swap. Confirm the transaction and wait for it to process.
This feature simplifies the process by reducing intermediaries, but it’s not available globally. Here’s how to use it via different platforms.
Via Web Browser
- Access MetaMask Portfolio: Log in to portfolio.metamask.io using your MetaMask wallet.
- Select Sell Tab: Click on the “Sell” tab in the dashboard.
- Choose Region and Token: Select your region and the cryptocurrency you wish to sell (e.g., ETH or USDT). Ensure the token is on a supported network.
- Link Fiat Destination: Connect your bank account or PayPal as the fiat destination. You may need to verify your account with the provider (e.g., MoonPay).
- Confirm Transaction: Enter the amount to sell, review the transaction fees, and confirm. The funds will be sent to your bank account, typically within a few days, depending on the provider and bank processing times.
- Open MetaMask App: Launch the MetaMask mobile app and ensure you’re logged into your wallet.
- Navigate to Sell: Tap the menu button (two arrows) on the homepage, then select “Sell.”
- Select Token and Destination: Choose the cryptocurrency and fiat destination (bank account or PayPal). Verify your account if prompted.
- Enter Amount and Confirm: Input the amount to sell, review fees, and confirm the transaction. Track the progress in the “Sell” tab.
How to Withdraw Money From MetaMask to Your Bank Account via Crypto ExchangesIf MetaMask’s Sell feature isn’t available in your region, transferring your crypto to a centralized exchange is the most reliable way to convert it to fiat and withdraw to your bank account.
Below are steps for three popular exchanges: Binance, Bybit, and Kraken.Binance
- Create and Verify Account: Sign up on Binance and complete KYC verification.
- Get Deposit Address: Log in, navigate to “Wallet” > “Fiat and Spot” > “Deposit,” and select your cryptocurrency (e.g., ETH or USDT). Copy the deposit address for the correct network.
- Transfer from MetaMask: Open MetaMask, click “Send,” paste the Binance deposit address, select the amount, and confirm. Ensure the network matches to avoid losses.
- Sell Crypto: Once the crypto appears in your Binance wallet, go to the trading section, sell for fiat (e.g., USD or CAD), and confirm the sale.
- Withdraw Fiat: Navigate to “Withdraw” > “Fiat,” select your bank account (linked beforehand), enter the amount, and confirm. Withdrawals may take minutes to hours with fees around 0.1–0.2%.
- Set Up Bybit Account: Register and verify your account on Bybit.
- Copy Deposit Address: Go to “Assets” > “Deposit,” select your crypto, and choose the matching network. Copy the address or QR code.
- Send from MetaMask: In MetaMask, select “Send,” paste the Bybit address, input the amount, and confirm the transaction.
- Convert to Fiat: After the crypto arrives, sell it for fiat in the “Spot” market.
- Withdraw to Bank: Go to “Assets” > “Withdraw” > “Fiat,” link your bank account, enter the amount, and confirm. Processing times vary from minutes to days.
- Register on Kraken: Create an account and complete verification.
- Obtain Deposit Address: Navigate to “Funding” > “Deposit,” select your crypto, and copy the address for the correct network.
- Transfer from MetaMask: In MetaMask, click “Send,” paste the Kraken address, enter the amount, and confirm.
- Sell for Fiat: Once the crypto is in your Kraken account, go to “Trade,” sell for fiat, and confirm.
- Withdraw to Bank: Select “Funding” > “Withdraw” > “Fiat,” choose your linked bank account, enter the amount, and confirm. Kraken offers 24/7 support for assistance.
- Gas Fees: These are blockchain network fees for processing transactions (e.g., bridging, swapping, or sending crypto). Gas fees vary based on network congestion and can range from a few cents to hundreds of dollars. Higher fees can speed up transactions.
- Exchange Fees: When using exchanges, expect trading fees (0.1–0.2% on platforms like Binance) and withdrawal fees, which vary by platform and currency. For MetaMask’s Sell feature, providers like MoonPay may charge transaction fees, sometimes up to 8%. Always review fees before confirming transactions.
For users in supported regions, MetaMask’s Sell feature offers a direct way to convert crypto to fiat and deposit it into a bank account or PayPal. Otherwise, using a reputable exchange like Binance, Bybit, or Kraken provides a reliable alternative.
Always ensure network compatibility when bridging or transferring, double-check wallet addresses, and account for gas and exchange fees to avoid surprises