You can withdraw USDT from a MetaMask wallet quite conveniently. But you can`t withdraw it directly from MetaMask to your bank account because it is only a crypto wallet that allows transactions in cryptocurrencies, NFTs, and digital assets. You can store, transfer, and exchange digital assets, but you cannot convert them into fiat money inside the wallet and withdraw them into your bank account. To convert your crypto tokens into cash, you have to use a crypto exchange or a payment service that supports USDT and cash withdrawals. The crypto exchange converts your cryptocurrency into local money, and then you can withdraw your money into your bank account. So here are some simple steps that can help you withdraw USDT from MetaMask into your bank:
Choose a Crypto Exchange
First and foremost, you need to choose a crypto exchange that supports USDT and Bank withdrawals. One more thing, when you are choosing an exchange, make sure that it is operational in your region and supports the local currency you trade in. Here are some popular options that you can select from:
- Binance
- Kraken
- Coinbase
- OKX
Create & Verify Your Account
Once you have selected a suitable exchange to convert your cryptocurrency into fiat currency, next you need to:
- Sign up on the exchange.
- Complete KYC verification (upload ID, proof of address, etc.).
- Link your bank account to the exchange.
Send USDT from MetaMask to the Exchange
- Now log in to the exchange and go to Deposit USDT.
- Choose the right network, such as ERC-20, TRC-20, BEP-20, etc.
- Match the chosen network with your MetaMask network.
- Copy the USDT deposit address given by the exchange.
Confirm in your MetaMask account
- In your MetaMask, select USDT.
- Click Send.
- Paste the exchange’s deposit address.
- Select the same network you copied from.
- Confirm and pay the small network fee.
Sell USDT for Your Local Currency
Once USDT arrives in your exchange account, go to Trade or Convert.
Sell your USDT for your local currency (USD, EUR, etc.).
Withdraw Money to Your Bank
- Go to Withdraw or Payout.
- Select your linked bank account.
- Enter the withdrawal amount.
- Confirm the request.
- The money will arrive in hours to a few days.
Why Do People Use USDT?
USDT is also known as a stablecoin. Its value is pegged to the US dollar. That means it is not prone to the unexpected ups and downs of the market, and its price remains approximately equal to $1. So it is less risky and more immune to market ups and downs. That’s why people are more confident with the USDT when it comes to the trade in cryptocurrency. In addition to this, here are some more advantages that make it more popular with people interested in trading in cryptocurrency:
Fast and easy transactions
Sending USDT across borders is faster and often cheaper than bank wires.
It’s available on multiple blockchains Ethereum, Tron, Binance, etc. People find it easy to choose from networks with low fees.
Less affected by the Market Volatility
- Unlike other cryptocurrencies such as Bitcoin, Ethereum, and Solana, USDT is not affected by market volatility.
- Interestingly, in crypto trading, when the market is falling, traders convert coins to USDT to avoid losses.
- USDT is like cash in cryptocurrency that is stable and easy to trade and convert into other currencies across the world.
Global Accessibility
- USDT provides leverage for people in countries that are prone to highly unstable regional currencies due to high inflation.
- It provides a safe preservation of their regional currency by converting it into a cryptocurrency that is secure against volatility.
- It is easier and cheaper to send money internationally using USDT than through a bank account.
Higher Liquidity in Global Crypto Trading
- USDT is one of the most traded cryptocurrencies in the world by volume.
- It is listed on almost every exchange, which makes it easy to buy and sell with other currencies.
- It exists on many blockchains such as Ethereum (ERC-20), Tron (TRC-20), Binance Smart Chain (BEP-20), etc.
- Freelancers, exporters, and international businesses use USDT for instant cross-border payments by paying low fees.
What Safety Measures Must You Practice to Withdraw from MetaMask?
When you are converting your USDT into fiat and withdrawing it into your bank account, it is highly important that you do it carefully without making any mistakes. You cannot afford to make even a small mistake because it can lead to loss of funds and accounts. So here are some important tips you must use to securely withdraw money from MetaMask:
a. Double-check the network before sending USDT. If you send on the wrong network, funds can be lost forever.
b. Always check the exchanges’ charge withdrawal fees before you make the transactions.
c. If you are transferring or exchanging large amounts, make sure you run a small test to confirm the transaction address and accounts.
d. You must comply with and conform to the crypto rules and restrictions in your local region to ensure the withdrawals are legal in your area.
