How to Withdraw Money from Phantom To Bank Account Cash out Solana on Phantom Wallet

How to cash out on phantom wallet

Hey people, welcome to this new video. In today's tutorial, I'm going to show you to cash out your cryptos into real money and

send it into your bank account. So there are a few things that we need to take in mind before we start

And the first thing is that we can't do that directly from phantom because this is a wallet

When you have a crypto wallet, you need to send a wallet to a specific exchange so you

can trade your cryptos into your local currency or the currency of the bank that you want

to make the trade. In this case, I have Solana. And let's say I want Solana into my bank account

And the bank account that I'm using is a bank from Mexico City

So Mexico City operates with something called Mexican Peso, which is this one right in here

So what I want to do is to find an exchange that works with the Mexican coin

So let's say I am on Binance exchange and I go into Mexican and I go into Wetro

If you have a Binance account and you're here in the Wetro fiat, you need to go into select currency

I can Wetro Euros, Australian dollars. There are a lot of things that I can even dollars and I can make a bank transfer

But as you can see, the fee is too high for me. It's $15 of the fee

But let's say you want to select this one as you go to continue. What's going to happen is that if you are on the United States, maybe you won't see

this alert. This payment method is currently unavailable in my region because I'm in Mexico City

So if you are related into what's happening with me, we want to find an exchange that

works in our region. In this case, that would be Beto because Beto is from Mexico, actually

So what you want to do is to go into your wallet and send all the tokens into the exchange

that you can use for the transfer to your bank. So I'm going to go into send Solana and I need an address received

So I need to go back into my exchange and select here Solana

So as you can see, Beto does not work with Solana. So what I can do is to convert Solana into something that works into Beto

And I'm going to use USDT because it works for every single exchange

And let's say I want to do that right now. So I go into review order, I make the swap

And after I make the swap, the last thing I just need to do is to go in here and select USDT

So I'm going to go into deposit and I'm going to copy the address that would be in here

and I'm going to paste it on my phantom wallet. And after I've done that, I just need to go into next, which in this case, it won't let

me because this one is Solana. And I don't have enough Solana to convert it into USDT

But after you make the confirmation, you're going to see something like this

Every exchange have this history transaction. So as you can see, I have a lot of transactions since here

And the last one that I've done a few months ago is going to show up like this

So after you made the transactions, sometimes you need to make or wait till your transfer

has been confirmated by 13 parties because that's the way it works on the cryptocurrency world

So you can see the deposit with the exact date, the status, the amount of the token

and the total. And the last thing you want to do is to go into your wallet of the exchange that you're

using and you need to convert the token that you received into the currency that your bank

allows, which in my case, that would be the Mexican peso. And after you've done with that, the last thing you want to do is to go into send

My exchange works with PayPal. So for me, it's really easy to send this money into my PayPal account

So it would be automatically sent into my bank using another kind of exchanges like Binance

You can do exactly the same thing. You just need to remember that sometimes this exchanges cost us a few, take a few of the

cost fee of the transaction. So be aware of that. So there you have it, guys, just need to look for the right exchange to send it to

your bank or to a PayPal account, and then it will be automatically sent into your bank account

Hopefully this was a pretty useful video for you guys. Don't forget to like and subscribe to the channel if you want to see more about this

kind of stuff. Thank you for watching this video and I'll be seeing you guys on the next one