how to sell bnb on binance

Selling Binance Coin (BNB) on the Binance exchange involves selecting the "Sell" option, choosing the trading pair (e.g., BNB/USDT), inputting the amount of BNB to sell, optionally setting a custom sell price, reviewing the transaction details, and finally confirming the sale to execute the transaction.

Nov 06, 2024 at 06:23 pm

How to Sell BNB on Binance: A Comprehensive Guide

Binance, the world's leading cryptocurrency exchange, offers a user-friendly platform for buying, selling, and trading digital assets, including Binance Coin (BNB). Selling BNB on Binance is a straightforward process that can be completed in just a few simple steps, ensuring a seamless user experience. This comprehensive guide will walk you through the precise steps involved in selling BNB on Binance, empowering you with the knowledge and confidence to execute this transaction with ease.

Step 1: Log in to Your Binance Account

• Navigate to the Binance website (https://www.binance.com/) and click on the "Log In" button located in the top right corner of the homepage.
• Enter your registered email address or mobile phone number and password in the designated fields.
• Click on the "Log In" button to access your Binance account.

Step 2: Select the "Sell" Option

• Once you have logged into your Binance account, hover over the "Trade" tab located in the top navigation bar and select the "Sell" option from the drop-down menu.
• This will redirect you to the dedicated selling page for Binance.

Step 3: Choose the Trading Pair

• On the selling page, you will be prompted to select the trading pair you wish to engage in. In this case, since we are selling BNB, you will need to select the BNB/fiat currency pair. For example, if you want to sell BNB for USDT, you would select the BNB/USDT trading pair.
• Binance supports a wide range of fiat currencies, so you can choose the one that best suits your needs and preferences.

Step 4: Input the Amount of BNB to Sell

• In the designated field, enter the amount of BNB you wish to sell. You can manually type in the desired amount or use the percentage buttons (-25%, -50%, -75%, and -100%) to quickly indicate the portion of your BNB balance you want to sell.
• Binance allows for the specification of the precise number of decimal places for your sell amount, ensuring that you maintain control over the granularity of your transaction.

Step 5: Set the Sell Price (Optional)

• By default, Binance will automatically determine the sell price based on the current market rate. However, you have the flexibility to specify a custom sell price if you prefer.
• To set a custom sell price, click on the "Advanced" tab located next to the "Sell" button. In the "Price" field, you can enter the desired sell price for your BNB.
• Setting a custom sell price can be advantageous if you want to target a specific price point or execute a limit order.

Step 6: Review and Confirm the Transaction

• Before proceeding with the sale, it is crucial to review the transaction details carefully. Ensure that the trading pair, amount to sell, and sell price (if applicable) are all correct and align with your intended transaction.
• Once you have thoroughly reviewed the details, click on the "Sell" button to initiate the transaction.

Step 7: Transaction Execution

• Upon clicking the "Sell" button, Binance will execute the transaction immediately. The BNB you specified will be sold at the specified price or the best available market price.
• The proceeds from the sale will be credited to your fiat currency wallet or the spot wallet of the selected trading pair. You can check your transaction history in the "Order History" section to view the status and details of the completed transaction.

Step 8: Withdrawing the Funds (Optional)

• Once the BNB has been sold and the proceeds have been credited to your account, you may choose to withdraw the funds to an external wallet or bank account.
• To withdraw funds, navigate to the "Wallet" page and select the fiat currency or cryptocurrency you wish to withdraw. Click on the "Withdraw" button and follow the on-screen instructions to complete the withdrawal process.