MetaMask is a cryptocurrency wallet that allows you to store your Ethereum.
However, you won’t be able to sell your Ethereum on it.
If you don’t sell your Ethereum, you won’t be able to withdraw money to your bank account.
If you want to sell your Ethereum, you need to use a cryptocurrency exchange.
There are many cryptocurrency exchanges including Binance, Coinbase, Gemini, and others.
Binance is highly recommended because it has one of the lowest fees.
By selling your Ethereum 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 Ethereum to a cryptocurrency exchange like Binance.
Next, sell your Ethereum on Binance and withdraw it to your bank account.
You won’t be able to sell your Ethereum on MetaMask.
Hence, you need to send your Ethereum to a cryptocurrency exchange like Binance.
On Binance, you’ll be able to sell your Ethereum for fiat money so you can withdraw it to your bank account.
Binance offers a variety of withdrawal methods.
The withdrawal methods depend on your country or region.
The most common withdrawal method is the “Bank Card” method, which is also known as an instant card withdrawal.
By using an instant card withdrawal, the process will typically take 5 minutes to complete.
However, there is a 1% transaction fee for EEA customers.
Here’s how to withdraw money from MetaMask to bank account:
- 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.
Before you can withdraw money from MetaMask to your bank account, you need to sell your Ethereum on a cryptocurrency exchange.
Binance is highly recommended because it has one of the lowest fees.
Firstly, go to binance.com and click on the “Register” button.
On the registration page, enter your email address and choose a password.
Then, use “73583477” as the referral ID.
Accept the terms of service, and click on “Create Account”.
After you’ve created a Binance account, you need to verify your identity.
This includes the basic verification and intermediate verification.
The basic verification requires you to provide your information including your birthday and address.
On the other hand, intermediate verification requires you to verify your identity by uploading your ID and taking a photo of yourself.
Once you’ve completed the verifications, you’ll have full access to the features on Binance.
2. Copy your Ethereum address on Binance
After you’ve created a Binance account and verified your identity, you need to copy your Ethereum address.
You need to send your Ethereum from MetaMask to this address later on.
Firstly, 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 a list of your cryptocurrency balances.
Scroll down the list until you find “ETH”.
Once you’ve found “ETH”, click on “Deposit” next to it.
After you’ve clicked on “Deposit”, you’ll land on the “Deposit Crypto” page.
Firstly, if the “Coin” dropdown box isn’t “ETH”, select “ETH”.
Next, select the “ERC20” network using the “Network” dropdown box.
Once you’ve selected the “ERC20” network, you’ll see your Ethereum address.
Copy your Ethereum address by clicking on the duplicate icon.
3. Send your Ethereum from MetaMask to Binance
After you’ve copied your Ethereum address from Binance, open your MetaMask wallet.
Next, enter your MetaMask password to unlock your wallet.
Once you’re on MetaMask, select the “Ethereum Mainnet” network.
Now, you’ll see your Ethereum balance and 3 icons.
The 3 icons are “Buy”, “Send”, and “Swap”.
Since you’re looking to send your Ethereum to Binance, click on “Send”.
After you’ve clicked on send, you’ll land on the “Add Recipient” page.
Now, you need to paste your Ethereum address from Binance.
On the page, you’ll see a “Search, public address (0x), or ENS” field.
On the field, paste your Binance Ethereum address from step #2.
After you’ve pasted your Ethereum address from Binance, you’ll land on the sending page.
In addition, you’ll see a tick at the top of the page.
The tick indicates that the address that you’ve pasted is valid.
The sending page has a couple of fields including “Asset” and “Amount”.
Firstly, make sure that “ETH” is selected in the “Asset” field.
Next, enter the amount of Ethereum that you want to send to Binance in the “Amount” field.
Lastly, click on “Next” followed by “Send” to send your Ethereum to Binance.
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.
Now that you’ve sent your Ethereum from MetaMask to Binance, you need to sell it for fiat money.
That way, you’ll be able to send your fiat money on Binance to your bank account.
Firstly, go to the selling page on Binance here: https://www.binance.com/en/buy-sell-crypto?type=SELL.
Once you’re on the selling page, select “ETH” on the “Spend” field.
Secondly, enter the amount of Ethereum that you want to sell.
Thirdly, select the currency that you want to receive in the “Receive” field.
For example, if you live in Europe, select the “EUR” currency.
Lastly, click on “Continue” and follow the on-screen instructions to sell your Ethereum for fiat money.
5. Withdraw your money from Binance to your bank
Now that you’ve sold your Ethereum for fiat money on Binance, you’ll be able to withdraw it to your bank account.
Firstly, 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 Ethereum to Binance first.
Then, you’ll be able to sell your Ethereum 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 Ethereum.
Whenever you’re sending Ethereum from MetaMask, make sure that you’ve entered the right address.
Otherwise, your Ethereum may be lost forever.
Further reading
How to Create a Binance Account
How to Make a MetaMask Wallet
Best Binance Referral ID Code in 2021
