binance how to sell crypto for cash

Binance allows crypto holders to conveniently and securely convert their digital assets into cash by facilitating sales and providing withdrawal options to users' bank accounts.

Oct 30, 2024 at 07:48 pm

How to Sell Crypto for Cash on Binance

Binance, one of the world's largest cryptocurrency exchanges, offers a convenient and secure way to sell your crypto assets for cash. Here's a step-by-step guide on how to do it:

Step 1: Create a Binance Account

If you don't have a Binance account yet, head to the Binance website and create an account by following the instructions provided.

Step 2: Fund Your Binance Account

Before selling your crypto, you need to fund your Binance account with crypto. You can do this by transferring crypto from a different exchange or wallet, or by purchasing crypto directly on Binance using a credit or debit card.

Step 3: Go to the Sell Cryptocurrency Page

Once your account is funded, navigate to the "Sell Cryptocurrency" page. You can find this page under the "Trade" tab in the top menu bar.

Step 4: Choose a Currency Pair

Choose the cryptocurrency you want to sell and the currency you want to receive in return. For example, if you want to sell Bitcoin (BTC) for USD, select the "BTC/USD" currency pair.

Step 5: Enter the Amount

Enter the amount of cryptocurrency you want to sell. You can either enter a specific amount or use the percentage buttons to sell a portion of your holdings.

Step 6: Select an Order Type

Binance offers two order types:

• Limit Order: Allows you to specify a price at which you want to sell your crypto.
• Market Order: Sells your crypto at the current market price.

Step 7: Place the Order

Review the details of your order and click "Sell." Your order will be executed and the funds will be credited to your Binance account or linked bank account, depending on the withdrawal method you choose.

Step 8: Withdraw the Funds

Once your crypto sale is complete, you can withdraw the funds to your bank account. Go to the "Withdraw" page under the "Wallet" tab and follow the instructions to initiate the withdrawal.

Additional Notes:

• Binance charges a small trading fee for each crypto sale.
• The withdrawal fees for different currencies vary, so check the Binance fee schedule before withdrawing.
• The time it takes for the withdrawal to be processed depends on the chosen method and the cryptocurrency being withdrawn.