How To Sell Crypto On Binance Us

Main Takeaways

  • If you want to cash out bitcoin to pay for a product or service, consider using Binance Pay or Card to brand a crypto transaction.

  • If y’all still want to cash out your BTC, yous tin can use the [Buy and Sell Crypto] or [Catechumen] pages, Binance P2P, and the Spot Substitution to easily convert to fiat.


Post-obit our guide on how to purchase Bitcoin, we’re dorsum again with the list of available options for converting BTC into fiat currency on Binance.





No thing your reason for buying or belongings crypto, there often will come up a time when you demand to sell it for greenbacks. You may need to buy something, pay a bill, or reduce your crypto holdings. With Binance, there are multiple ways y’all can turn your bitcoin (BTC) into fiat without much fuss or hassle.

The availability of some of these volition depend on your location, but the methods discussed hither should be open to well-nigh of our users. Our 24/7
Customer Support team
is always ready to help if yous need any extra information or assistance.

Why You Might Desire to Cash Out

Cashing out your bitcoin into fiat is simple with Binance, just there are still a few things to go on in heed as you do it. You volition probable be subject area to some capital gains tax if you’ve made a turn a profit. You lot will also need to off-ramp the cash from Binance to your bank, which can accept a few days. Then while the process is easy, you lot need to consider these additional factors. Earlier cashing out, you might want to ask yourself the following questions:

Am I tuning bitcoin into cash to protect myself from cost fluctuations?

If and then, there are other options to explore before you commit to converting your crypto to fiat. If your goal is to reduce the effects of toll volatility on your portfolio, it may exist best to trade your bitcoin for a
stablecoin like BUSD. Stablecoins are designed to maintain the value same to that of a particular reference nugget (such as the US dollar), without the need for users to cash out and incur fees in the procedure.

Can I use crypto for the payment/transaction I desire to cash out for?

It may be that your retailer accepts crypto. Perhaps you lot could even use a crypto payments solution. In both these cases, there wouldn’t be a demand to convert manually to fiat. Opting for crypto payments can often be cheaper than going through the process of cashing out into fiat.

Binance Card

I great way to use crypto to pay for your expenses is
Binance Card. It allows you to apply your Binance crypto balance for purchases and payments with millions of retailers and service providers. The card is now available in many countries, with even more coming shortly.

Binance Pay

Another mode to pay for goods and services is Binance Pay. Here’southward the essence of this service in one succinct paragraph:

“Binance Pay is a simple, borderless, and secure way to send and receive cryptocurrencies from your mobile devices. You tin can transport crypto to friends and family unit via email, phone number, Binance ID (UID), or Pay ID with zero gas fees.”

If the private, retailer, or service provider y’all want to pay accepts crypto and Binance Pay, it’southward a quick and cheap way to make your payment. For a complete guide, you can watch Binance Academy’s explanation of
What is Binance Pay & How to Apply It.

Nonetheless, if y’all still demand to cash out your crypto, read on for a selection of methods to use.

i. Sell Bitcoin for Cash on Binance’s Purchase and Sell Crypto Folio

Binance’s
[Buy and Sell Crypto]
page is i of the simplest ways to convert your bitcoin into greenbacks. Just select [BTC] in the top field and the currency y’all want to sell it for in the lesser field. The fiat currency will and so exist debited to your Fiat and Spot wallet. The [Sell to Card] function may also be available, assuasive you to cash out straight to your credit or debit bill of fare.








2. Utilise Binance P2P and Trade Directly With a P2P Merchant

Another popular pick for cashing out bitcoin is via Binance P2P. What is P2P, I hear you ask? Well, according to our Binance P2P Newbie Guide:

“Binance P2P is a peer-to-peer market that allows you to straight trade cryptocurrencies with other Binance users with your preferred local currency, price, and payment method.”

Rather than trading on the exchange using an lodge with a large number of other traders, P2P lets you deal directly with a single user. Each P2P merchant tin can offer a diverseness of payment methods, including fiat payments, when trading with another individual.

Sell bitcoin directly to other Binance users to commutation them for your local fiat currency. On the P2P market, yous can browse a
variety of bitcoin listings
and choose the best offers. To place an order, y’all’ll demand to move your BTC (or other cryptocurrencies) to your Binance account’south Funding Wallet. Follow our
How to Transfer Assets from Spot Wallet to Funding Wallet
guide for more information.

The
Binance P2P Express Zone
is the simplest way to trade your BTC for fiat on the P2P market. It will automatically friction match you with a P2P merchant who meets your needs. In the top field, select [BTC]. In the bottom field, select the fiat currency you want to receive. For a more detailed guide, see our
How to Sell Cryptocurrency via P2P Trading on Binance App
guide.





3. Apply the Spot Exchange to Sell to Your Called Currency

You tin admission a wide option of BTC trading pairs on the Binance Spot Substitution to sell for fiat. On the
Spot Exchange, yous tin can select the [BTC] pairs push button on the right side of the screen and come across what’due south available. With the search box at the top, y’all can likewise look directly for a pair similar [BTC/EUR].





The Spot Substitution supports fiat currencies like the euro (EUR), Brazilian reais (BRL), Australian dollar (AUD), British pound (GBP), and the Turkish lira (TRY). If you need to sell your bitcoin for any of the supported fiat currencies, all you need to do is sell BTC in the corresponding trading pair, then withdraw the fiat currency from your Fiat and Spot wallet to your banking company account.

four. Utilise the Binance Catechumen Feature

If you don’t experience like using the Spot Exchange directly, the
Binance Convert
feature is a straightforward alternative. It’s similar to the [Purchase and Sell Crypto] page only offers the chance to merchandise your BTC for other cryptocurrencies.

On the Convert folio, utilize the [Market] option in the top left. Next, choose BTC in the top field and input the amount you want to sell. Select the fiat currency yous want in the bottom field and then click [Preview Conversion]. You’ll and then be able to follow the instructions for completing your transaction.








Cashing Out Is Convenient With Binance

With all the options on offer, there’s really something for every user when converting to fiat. No thing the pick you use to cash out, they all have something in mutual: convenience! However, don’t forget that once y’all’ve sold to fiat on your Binance account, you’ll also
demand to transfer information technology to your card or banking concern business relationship.

For more information on cashing out crypto, refer to the post-obit articles:

  • (Academy)
    What Is Fiat Currency?

  • (Support)
    How to Sell Cryptocurrencies to Fiat Currency and Directly Transfer to Credit/Debit Card

Source: https://www.binance.com/en/blog/all/4-ways-you-can-sell-your-bitcoin-for-cash-on-binance-a-quick-guide-421499824684900899

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