MetaMask made it easy to store, manage, and swap different crypto assets running in the Ethereum network. It is a non-custodial decentralized wallet, offering backup phrases and private keys to secure the assets. MetaMask is geared towards digital assets, but withdrawing funds for first-time users will be difficult.
Let’s explore the concept in detail along with discovering the procedure of cashing Ethereum from MetaMask to a bank account.
A Glimpse of Ethereum and MetaMask
Ethereum is a digital technology and home to digital assets, applications, and global payments. A decentralized blockchain with smart contract functionality, powered by Ether (ETH) token, assisting users to make transactions and gain interest. ETH is the second-biggest digital asset by market cap after Bitcoin, holding strong value in the crypto marketplace. Focusing on history, the platform was created by Vitalik Buterin in 2015, holding a current price of $1,703.96 per ETH.
MetaMask, a leading self-custodial wallet, offers a safe and simple way to access blockchain applications and Web3. The wallet is trusted by millions of users worldwide, helping individuals connect with the decentralized web. The wallet made it easy for the users to interact with the Ethereum blockchain. MetaMask supports a wide range of tokens including USD Coin (USDC), Ethereum (ETH), Tether (USDT), etc., ensuring easy management and interaction with the preferred assets.
How to Cash out Ethereum?
It is surprising that you can cash the Ethereum from MetaMask to the bank account in five easy steps. MetaMask is a software wallet that can be downloaded from mobile applications or browser extensions. The wallet is compatible with both Android and iOS devices. Once the application is installed, creating and restoring the old account is an easy process to follow. This is the easy step to open a MetaMask wallet.
The next step is to open the wallet and select the suitable or preferred crypto (ETH) to withdraw. Afterward, selecting the send icon will help in accessing the withdrawal page. The third step is to enter the withdrawal amount. Filling out the recipient’s wallet address in the ‘Send to’ box will help in making the transaction. In addition, the wallet address is a randomly created alphanumeric word that helps in making a safer transaction. Once the address is filled in, the next step is to enter the amount while examining the gas fees and the withdrawal will initiate.
The next step is to confirm and withdraw from the wallet to the respective bank account. Before finalizing the transaction, it will be good to cross-check the details, previewing the transaction amount, wallet address, and network. Choosing the confirm option will help in making the transaction successful.
With the MetaMask wallet, it becomes easy to withdraw Ethereum directly to the bank account. There are five easy steps to cash the ETH from the MetaMask wallet to the bank account. Downloading the wallet, selecting the crypto amount, and entering the address will help in making a transfer.