Cashing out USDT on Binance’s Peer-to-Peer (P2P) marketplace is straightforward and allows for direct transactions with other users. Binance P2P provides a secure, user-friendly, and flexible platform for buying or selling digital assets. Here’s a step-by-step guide to help you effectively sell your USDT.
1. What is Binance P2P?
Binance P2P is a unique peer-to-peer service that enables users to directly exchange cryptocurrencies with each other. It uses an escrow system to ensure safe transactions for both parties, allowing you to convert your USDT into fiat currency through your preferred payment method.
2. Why Choose Binance P2P for Selling USDT?
Here are some key benefits of using Binance P2P:
Security: Binance holds assets in escrow until the transaction is confirmed.
Payment Options: You can choose from a variety of payment methods and currencies.
Price Flexibility: Set your preferred price or choose from available offers.
Low Fees: Binance P2P typically charges little to no transaction fees.
3. Step-by-Step Guide to Selling USDT on Binance P2P
Follow these steps to sell your USDT on Binance P2P smoothly:
Step 1: Log In to Binance
Open the Binance app or website, log into your account, or sign up and complete verification if you’re new.
Step 2: Go to the P2P Section
Select “Trade” on the homepage, then “P2P” to access the peer-to-peer trading page.
Step 3: Switch to the "Sell" Tab
On the P2P page, select the “Sell” tab and choose USDT.
Step 4: Filter to Find a Buyer
Use filters to select your preferred currency and payment method, such as bank transfer or PayPal.
Step 5: Choose a Buyer
Click “Sell” next to your chosen buyer, enter the amount of USDT to sell, and confirm the amount you’ll receive.
Step 6: Transfer USDT to P2P Wallet
Ensure your USDT is in your P2P wallet. If it’s in your spot wallet, transfer it over.
Step 7: Confirm the Sale
Once you set the amount, click “Sell USDT.” Binance will hold your USDT in escrow until payment is confirmed.
Step 8: Wait for Buyer’s Payment
The buyer will transfer the funds using your specified method. After receiving the payment, confirm by selecting “Payment Received.”
Step 9: Complete the Trade and Release USDT
After confirming payment, click “Confirm Release” to transfer the USDT to the buyer.
Step 10: Leave Feedback
Provide feedback to inform others of the buyer’s reliability.
4. Safety Tips for Binance P2P Transactions
Double-Check Payment: Confirm the deposit in your bank or app before releasing USDT.
Choose Verified Buyers: Look for high ratings and positive reviews.
Use Binance’s Communication Tools: Avoid external messaging to reduce fraud risks.
5. FAQs
Can I cancel a P2P trade? Yes, you can cancel before confirming "Payment Received," but frequent cancellations may affect your account’s credibility.
How long does it take to receive payment? Times vary; Binance estimates based on the buyer’s usual speed.
With this guide, selling USDT on Binance P2P is safe and simple. The platform’s escrow system and easy interface make for a secure and user-friendly experience.
