How to Withdraw Money From Phantom Wallet

Want toEnjoy a taste of yourCryptocurrencies investmentsWith amazing profits and paybacks? WhatWhat are you waiting for?! NowYou can now encash cryptos from your digital wallets. WeWe have compiled a guideline on how to use this guide. toWithdraw money Phantom Wallet. 

WellA phantom pocketbook is not the one that has been long-sustaining and has been in business ever since. Venmo Or Trust Wallet. ItIs it a new wallet? toThe cryptocurrency world or digital saving world. A phantom wallet can be dedicated toThe Solana ecosystem and doesn’t support other networks. PhantomIt makes it simple, safe, fun, and easy for everyone toExplore all of it Web3 It has to offer. 

PhantomThe MetaMask The equivalent of Solanaecosystem as it was primarily designed toMake the process of managing DeFi project private keys in the SolanaIt is much easier to network. Already, PhantomThe company has raised $9 million from A16z, a renowned venture capitalist. TheFunds are set tobe used for the development and maintenance of its platform.

InIn this article, we will show you the steps to follow. toWithdraw money Phantom Wallet. WeThis guide is intended to answer all your questions. 

WhatIs it a Phantom Wallet?

Phantom WalletThis is a browser extension that is not intended for custodial use. Cryptocurrency walletIt allows users to toInteract with many blockchain networks in the SolanaIt is easy and secure to use the ecosystem. TheAn extension for wallet allows users to toYou can send and get tokens and cryptos, as well collect and trade tokens within your wallet. WeWe will be learning more about how toWithdraw money Phantom Wallet.

WithWith this in mind, PhantomThe wallet is one of the tools available. Solana to use. Additionally, Phantomwallet is a browser extension that acts as a browser extension.Chrome, Brave, or FirefoxThis will turn your browser into a cryptocurrency wallet. ToBrowse the site. Solanaecosystem PhantomThese functionalities are available to you:

  • Non-custodial – YourPrivate keys, funds, and private data are stored on your device. They cannot be accessed by third parties.
  • Token swaps – PhantomUses a built-in DEX toYou can safely exchange tokens at the most competitive prices
  • NFTs and collectibles – Smooth user interface for storing your favorite NFTs
  • Ledger support – YouYou can connect to your computer to store your private keys offline toA LedgerHardware wallet
  • Web3 support – PhantomAlso functions as a dAPP Browser that interacts with SolanaBlockchain
  • SOL staking – EarnAdditional SOL Simply holding your money in your wallet will allow you to maximize your savings.

ProbablyYou’re already using PhantomYou use the functions mentioned above on a daily basis. AlsoYou might have some crypto funds in you wallet that you want to use. toCash out Phantom Wallet. InIt is not uncommon for crypto to be converted into fiat currency when dealing with decentralized wallets. AfterThis brief explanation of what a Phantom wallet is, let’s move now toHow toYou can withdraw money from a Phantom Wallet.

Related: How to Withdraw Money From Trust WalletIn 6 Quick Steps

Can You Directly Withdraw Money From Phantom Wallet?

Unfortunately, there isn’t a direct way toTransfer your funds from Phantom Wallet toAn account in an external bank. TheThis is mainly because Phantom WalletIs a digital wallet that can be connected to Smart contracts And runs autonomously. At the moment, banks can’t deal with Technology decentralizationOr non-custodial wallets.

As a result, it’s necessary toSend your funds from Phantom Wallet toA major cryptocurrency exchange. InIn other words: toLearn how toWithdraw money Phantom WalletYou need a centralized crypto exchangeLike Binance.

Also, Phantom Wallet is a crypto wallet that doesn’t deal with fiat money like EUR, USD, or GBP.

How to Withdraw Money From Phantom Wallet?

how to withdraw money from phantom wallet

HereIs this how? toWithdraw money Phantomwallet Open Cryptocurrency Exchange Account> Send Funds From Phantom Wallet> Sell SolanaOn Centralized Exchange> Select Binance Withdrawal Methods> ReceiveThe Money.

Step 1: OpenA Cryptocurrency Exchange Account

FirstFirst and foremost, create an account. It shouldn’t be difficult. YouThis link can also be used toRegister for a free account at any exchange. WeWe will take the example of BinanceThese steps are identical to what we did in one our articles. toWithdraw money from. ….. using finance

BinanceThe largest Cryptocurrency exchange Based on daily (24-hourly), trading volumes around the world. ItIt also hosts millions of daily cryptocurrency traders who use its platform. AsideFrom trading BinanceOffers a variety additional useful services such as custodial wallets and crypto margin trading, lending, and staking incentives.

RememberCrypto exchanges use custodial wallets toThey store their funds and are continually targeted by hackers. AsAs a consequence, they place a premium security and withdrawing funds. to a bank account necessitates identification.

InIn short, account verification (KYC) is the following:

  1. UploadOfficial documents (passports, driving licenses, identity cards, etc.)
  2. TakePictures of both sides
  3. MakeTake a selfie

Related: AHow To Withdraw Money From Venmo | A Simple 10 Step Guide

Step 2: Send Funds From Phantom Wallet

YouYou must be able to understand and use your cryptocurrency. We have this guide on how to do that. toWithdraw money from the Phantom wallet.

After you’ve completed your selected exchange’s signup process. ItIs time toUse your newly created profile to withdraw money after you’ve signed up for a Binance account.

SwapYour Solana(SOL) for the cash you’ll need toTransfer your SOL funds from Phantom to Binance here.

WonderingHow toDo this? BelowThese are some steps Binance:

  1. In BinanceGo to ‘Wallet‘
  2. OnTop of the Right click ‘Deposit‘
  3. Tap ‘Coin textbox‘In the pop-up, enter SOL
  4. Tap the ‘SOL‘ coin and choose ‘SOL Solana‘ as the network
  5. Finally, copy the ‘SOL’Address toThe clipboard

Return toYour PhantomLog in to your wallet with your password and locate your SOL(Solana) funds. FurthermoreIf you don’t have SOL, ensure that you first convert tokens from your wallet to SOL.

AsClick here to see the result ‘Send’ to transfer. NowTap on your SolanaPaste the funds BinanceSOL address from clipboard to the recipient adress Solana.

Step 3: Sell SolanaOn Centralized Exchange

ItIt will take just a few seconds to get your funds to reach your Binanceaccount, because Solana blockchain’s lightning-fast transaction processing. Simply check your Binancewallet toCheck to see if you’ve received the Solana money.

YouYou will receive a notification from BinanceOnce the SOL has been reached, TokenTheir platform has been updated.

TheNext step is toExchange your SOL TokensFor US dollars BritishPounds sterling or any other currency TheBelow are the available fiat currency trading pair for SOL Binance.

IfYou will need toTransfer funds toTo open a bank account in a different currency, you must first sell your SOL. Bitcoin. TheNext step is toUse the search function to find a party. Binance P2P platform.

SellingFunds BinanceIt is a very smooth process due to the large volume of orders. YouThe official website can be accessed and reached toSell your token Binance. ThereforeOnce you have completed your order, your funds (money) will be available in the account for transfer right away.

Related: How to Withdraw Money From Safemoon Wallet | An Easy Guide To All

Step 4: Select Binance Withdrawal Methods

TheThe withdrawal method you choose depends entirely on your situation as customer. Binance. AdditionallyIf you already have a bank account, to BinanceYou can then transfer money toIt will be done immediately

ForFor instance, if your home is in the European Union AreaYou can withdraw EURO instantly However, toTo verify this, an additional verification step must be taken.

In general, toWithdraw money Binance to your bank account go to ‘Fiat Spot Wallet‘ first. Then click ‘Withdraw‘You can then start the process. IfIf you have any further questions, you can also contact us toContact Binance support.

Step 5: ReceiveThe Money On Your Favorite Payment Method

ThisThis is the final step. If everything went well as you followed the guide above, you will only need to toWait for the funds to arrive. MostlyVerified users will receive the money in the same day to their bank account.

AllThis is the fastest way to go. toCash out crypto starting at PhantomYour wallet toYour bank account. Maybe you might find it a little bit risky, but it’s pretty easy!

Our takeaway from the above guide was easy and quick, let’s go through this process for a follow real quick:

  • Swap toSOL on your PhantomThe wallet
  • CreateAn account at a central crypto exchange (like Binance)
  • GetYour Binance SolanaSend an email to address Phantom to Binance
  • StartThe withdrawal process to your linked bank account
  • ReceiveMoney directly into your bank accounts

AndThis is how to withdraw PhantomCheck out wallet toYour bank account! Enjoy your profits and don’t forget toIf you found it helpful, please share this guide. 

Wrapping Up 

ThisIt was a comprehensive guide on how to toWithdraw money Phantom Wallet. IfIf you are interested in withdrawing or encashing the tokens, follow the guide below and start trading. 

WeWe hope you find this guide useful. toWithdraw money PhantomWe had a great wallet and were able to cater for our guests. toEverything you were searching for. FurthermoreIf you have any questions or doubts about this article, please feel free to contact us. toPlease leave your questions in the comment section below. WeWe are here to help toRevert as soon as possible.  

Frequently Asked Questions

1. DoesThe PhantomMobile wallet works with wallet?

CurrentlyThere is no mobile-accessible app that can be used to access the phantom wallet. 

2. CanI store BitcoinOn Phantom?

No. PhantomIt is focused on the Solanaecosystem so that there is no support of the largest crypto on earth. That said, PhantomPlans toSupport EthereumSo BTC could be an option in the future.

3. What coins does Phantom Wallet support?

ThisIt is a decentralized exchange that allows you to swap tokens. AtThe moment is the PhantomThe following currencies are supported by wallet: SOL, USDT, USDC, Raydium (RAY), Serum (SRM)Along with any other utility tokens that launch with it, Solana’s DApps

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