How-to · 4 min read
How to Transfer from Phantom Wallet to a Bank Account in India
Phantom can't pay INR. How to get money from Phantom (Solana) into an Indian bank account: swap to USDT, send to an exchange, withdraw on TRC20, get INR.
By Bryan Aaron · Updated
Quick answer
Phantom can't pay rupees. Swap to USDT or USDC in Phantom, send it to an exchange on Solana, convert to USDT and withdraw on TRC20 to Disburz, then receive INR in your bank with a UTR. Keep a little SOL for fees.
Phantom is the most popular Solana wallet, and many Indian memecoin traders keep their profits there. Phantom can't pay rupees into a bank account, so here's the route from Phantom to INR.
The route
- Swap to USDT or USDC in Phantom if you hold SOL or memecoins.
- Send to an exchange using its Solana (SPL) deposit address for that token. Check whether the exchange needs a memo.
- Convert to USDT and withdraw on TRC20 to your Disburz deposit address. USDT on Solana is coming to Disburz; until then, TRC20 is the route.
- Receive INR in your bank with a UTR, with no documents to upload. Today's fees: ₹50 fee + 3 USDT network deduction.
Things that trip people up
- Keep a little SOL in Phantom for network fees.
- Fake tokens with real-looking names appear in Phantom wallets. Swap only tokens you bought, and verify the token on Solscan.
- Selling memecoin profits? Each profitable sale is taxed at 30% plus cess. See cashing out trading profits.
Other wallets: MetaMask, Trust Wallet, Coinbase Wallet.
