How to Fund a Crypto Wallet With Cash (No Bank Account Needed)

Key Takeaways:

• Trust Wallet now lets US users turn physical cash into crypto at retail locations across 48 states & Puerto Rico (NY & TX excluded) – no bank account required.

• The Cash Deposits feature is powered by Coinme, the licensed cash-to-crypto provider in the United States.

• Fees for Cash Deposits in Trust Wallet are 4% service fee plus a $3.95 transaction fee – lower than most Bitcoin ATMs.

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Millions of people in the US earn their income in cash. Opening a bank account is not always possible. Existing cash services can be slow, expensive, or require handing control of your funds to someone else.

Trust Wallet's Cash Deposits feature changes that. Powered by Coinme, a licensed provider of cash-to-crypto services, this feature lets you convert physical cash into crypto and receive it directly in your self-custody wallet – no bank account or card required. Trust Wallet does not provide money transmission services; Cash Deposits is offered by Coinme. This guide walks you through how it works, what it costs, and what to expect.

What Is Coinme and Why Does It Matter?

The Cash Deposits feature in Trust Wallet is powered by Coinme, the licensed cash-to-crypto provider in the United States. Coinme operates a network of over 50,000 retail locations – including grocery stores, pharmacies, and convenience stores – across 48 US states and Puerto Rico. New York and Texas are currently excluded.

Coinme is a licensed, regulated money services business. Trust Wallet itself is a non-custodial wallet provider and does not handle the cash conversion. Coinme manages the conversion process and identity verification on its end, in compliance with US regulations. When your transaction is complete, your crypto arrives directly in your Trust Wallet — no intermediary holds your funds.

Identity Verification Is Required

To use Cash Deposits, identity verification (KYC) is required. When you sign up with Coinme through the Trust Wallet app, you will need to provide your email address, phone number, and complete Coinme's identity verification process before making a deposit. This is a regulatory requirement that Coinme manages as a licensed provider.

You can review Coinme's Terms of Service and Coinme's Privacy Policy before getting started.

How to Fund Your Trust Wallet With Cash

Make sure you have the latest version of Trust Wallet installed. Then follow these steps:

1. Open Trust Wallet and tap Fund → Deposit Cash.

2. Select the crypto asset you want to receive.

3. Sign up or log in with Coinme and complete identity verification.

4. Enter the deposit amount and select a nearby retail location.

5. Generate a barcode, show it to the cashier, and hand over your cash.

6. Your crypto arrives in your Trust Wallet after payment confirmation and blockchain network confirmation (timing varies).

Once your deposit is confirmed on-chain, you hold your crypto outright in your self-custody wallet. No third party retains your funds, and only you control your private keys.

Fees and Transaction Information

Cash Deposits through Trust Wallet carry a 4% service fee plus a $3.95 flat transaction fee per deposit. The full fee breakdown is shown before you confirm your transaction, so you know the exact cost upfront. Additional blockchain network fees may apply depending on the asset and network you choose.

For example, if you deposit $100 in cash, your total fees come to approximately $7.95, and you would receive around $92.05 worth of crypto.

Trust Wallet does not add additional service fees for Cash Deposits; fees are set and collected by Coinme as the provider. Transaction and deposit limits are set by Coinme and displayed within the app at checkout.

How Cash Deposits Compares to Bitcoin ATMs

Fees vary widely across different ways to buy crypto with cash in the US. Here's how Cash Deposits in Trust Wallet stacks up:

Bitcoin ATMs are convenient, but fees can be significantly higher, depending on operator and location. Some of the biggest operators in the US charge even more.

Cash Deposits in Trust Wallet sits at the lower end of the fee spectrum for cash-to-crypto options, and it delivers crypto straight to a wallet you control – not to a custodial exchange account. That combination of lower fees and self-custody is rare for cash-based onramps.

Closing Thoughts

Cash Deposits in Trust Wallet, powered by Coinme, gives you a practical way to convert physical cash into crypto without needing a bank account. The service is available across 48 US states and Puerto Rico (NY & TX are currently excluded), with supported assets varying by location and are shown in-app during checkout. Fees are transparent – 4% plus $3.95 per transaction — and identity verification is required as part of Coinme's compliance process. Once your deposit settles, your crypto lands in a self-custody wallet that only you control.

Before using the service, review the relevant terms and policies: Trust Wallet Terms of Service | Trust Wallet Privacy Notice | Coinme Terms of Service | Coinme Privacy Policy

Disclaimer: Cash Deposits is powered by Coinme, a licensed provider of cash-to-crypto services. Available in 49 US states (New York excluded). Crypto assets are not legal tender and are subject to price volatility. Identity verification is required. This content is for informational purposes only and is not financial or investment advice. Please do your own research before interacting with any crypto assets. Any cited figures are accurate at the time of writing and subject to change.

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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.