While the error message might appear obvious, it simply indicates that the direct selling option is not available to you. If this is the case and you want to liquidate your crypto assets, you will need to transfer them to a reputable centralized or decentralized exchange. Once your funds are on the exchange, you can convert your crypto assets into your local currency and then have those funds transferred directly to your bank.
Covered in this guide:
- Why direct in-app coin selling might fail
- What to do when direct selling is not an option
- Importance of research in crypto trading
- Adherence to regional regulations and laws
Understanding In-App Selling Limitations:
Trust Wallet does not directly engage in the buying or selling of crypto. When you initiate a buy or sell transaction on the Trust Wallet app, you are redirected to a third-party provider. This provider charges a conversion and network fee. It's important to note that the Trust Wallet app does not collect any fees for this service.
The crypto provider only operates in certain countries and they offer several crypto assets that you can purchase with your credit card.
- Not all coins can be sold directly within an app.
- Some coins require the intermediation of trusted exchanges.
- Transfer of crypto assets is necessary for these instances.
Resolving In-App Selling Limitations:
- Send your coins to a reliable centralized (CEX) or decentralized (DEX) exchange.
- Convert your crypto assets into your local fiat currency in the exchange.
- Arrange for the transfer of funds to your banking account.
Cryptocurrency Trade Research:
Before making any decisions, you must conduct thorough research. You should investigate the trading options and requirements for your coin in advance on sites such as https://coinmarketcap.com
Compliance with Local Laws and Regulations:
The availability of certain features can be impacted by regional regulations. It is advised for all users to abide by their local laws and regulations when dealing with cryptocurrency.
Remember to stay updated with the latest Trust Wallet features. Obtain the newest version of Trust Wallet at trustwallet.com/download