How to withdraw money from Binance exchange – selling coins on Binance is the easiest and safest.
– The broker you should try to trade cryptos & US stocks. Learn more!
After trading on Binane, you need to withdraw money from the exchange to get fiat money. Like buying coins, you perform operations to sell coins on Binance by P2P method is also quite simple.
* See more: The complete guide Binance from a to z
When to sell coins to get cash?
If you require cash, selling coins on Binance is no longer controversial.
However, if you want to temporarily sell the coin and convert it into cash to preserve profits because the coin shows signs of decreasing, you should not!
Then, transfer coins to stablecoins (like BUSD, USDT…) to keep the cryptocurrency value. After the coin has returned to a fair price, you switch from stablecoins to coin to continue to benefit from the increase in coin price while still saving transaction costs. This is the way of professional investors on Binance that Investi.com wants to share.
To convert from coin to stable coin, follow the instructions in the article:
- How to buy coins via Spot Binance
You really need cash to sell coins on Binance. What to do? Here, Investi.com will guide you through.
How to sell coins on Binance via P2P?
To sell coins for cash, you need to sell coins via P2P Binance.
If the coin is already in a P2P wallet, follow these steps:
Step 1: Click “Buy Crypto” in the upper left corner of the screen. then select “P2P Trading”
Step 2: Select the “Sell” tab (red)
- Click on the name of the coin you want to sell
- Select the currency you want to receive when selling coins
- Select the payment method you want to transact
Step 3: Choose the right buyer
- Buyers should have a high reputation: Have a yellow tick, have a lot of transactions, high completion rate.
- The price offered by the buyer is in line with your wishes
- The transaction volume you can meet or similar to the buying and selling needs of the two parties.
- Buyers use the same payment method as you.
After selecting a suitable buyer, click “Sell….”. In case you are looking to sell BTC, it will be the Sell BTC button.
Step 4: Fill in the trading volume.
- Enter the volume of coins you want to sell. This number must be less than or equal to the number of coins you have in your account.
- If you want to sell all the coins, you have, click “All”. After you enter the volume, you want to sell, the system will automatically display the amount in the “I will receive” box.
- Conversely, if you enter the amount in the box “I will receive”, the system will automatically display the number of coins in the box “I want to sell”.
- Select the payment method you want. You will only choose between different methods if you have added multiple payment methods to your Binance account. And the buyer also uses that payment method.
Step 5: Confirm “Money received”
After the buyer confirms “Transferred”, you must check the payment information.
- You need to make sure you have received the funds in your account. Do not look at the transaction image of the money transfer party because it is very likely that someone will use fake images for fraudulent transactions.
- Does the amount you receive match the transaction?
- Is the transferor’s account information correct and clear of the transaction’s content? To avoid money laundering or future claims.
If all information is correct, you confirm “Money received” to transfer the coin to the buyer.
So you have done how to withdraw money from Binance, sell coins on Binance successfully by the P2P method. To maximize profits, the Binance exchange has many other trading methods for users. Investiki.com will guide you to use other trading features in the following articles.
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