Criptomais experts have studied the available methods for selling cryptocurrencies on the Binance exchange. The methods differ in fees and speed of exchange operations. Let's consider all the options in order so that you can choose the most suitable one.
Briefly about the main thing
- Selling cryptocurrencies on the Binance exchange is possible through the spot trading platform, Binance P2P pool de liquidez, Binance Convert, venda direta para cartão.
- Para trabalhar com qualquer método, é necessária verificação.
- In the spot market, many coins can be sold for cryptocurrency (stable coins) e por moeda fiduciária.
- Selling cryptocurrencies through Binance P2P to another user is fee-free. Improved world currencies available (no Brazilian reais).
- Exchanges with liquidity proporcionam uma exchange rápida de uma moeda por outra e permitem que você ganhe dinheiro investindo liquidez.
- There is a conversion section for instant exchange of cryptocurrencies and fiat currencies.
Exchange site: https://binance.com/
The main ways to sell cryptocurrency through Binance include:
- Exchange one cryptocurrency for another or for fiat currency through a spot trading terminal.
- Exchange via the Binance Convert section.
- Selling in the market Binance P2P for the second trader,
- Sales with card withdrawal.
- Sell on Binance using the liquid swaps tool.
Sell via Binance trading platform
Binance exchange allows you to sell digital assets such as to other cryptocurrencies and to fiat. To complete a transaction it is necessary go over to the section “Exchange» -> «Classic” or “Advanced” For simple sales, classic is quite suitable; advanced offers a wider selection of trading tools for professionals.
Select a trading pair – this is done in the top right section of the screen. For example, BTC/Real, if you want to sell Bitcoin for Real.
Then you need to create a sell order. The order creation section is located at the bottom of the page, below the rate table. Select the desired order type (a market order is suitable for a quick transaction in the current market conditions), enter the amount of cryptocurrency. Click on the red “Sell” button and confirm the transaction.
Remember that to withdraw money from the broker you need to pass verification account (KYC verification). Withdrawals are available to cards and electronic payment systems.
Selling Cryptocurrency via Binance P2P
In the chapter “Exchange» select item “P2P“to climb onto the platform Binance P2P . Account must be verified to work with this platform.
- I go to the “Sell».
- If necessary, set up filters:
- Select the cryptocurrency you are selling. Available options: BTC, BUSD, BNB, ETH, DAI, USDT.
- Select the fiat currency you want to sell for. Several dozen different world currencies are available.
- Select the most convenient fiat payment method for you. The platform allows you to work with many popular banks and e-wallets from around the world.
- Review the available offers and choose the one that suits your conditions. Also pay attention to the counterparty's Ranking (the number of successful transactions they have completed).
- Click on “Reverses BTC“(or other cryptocurrency).
- When you settle with the counterparty, you will need to provide your card/payment system details. The buyer will transfer the funds. Confirm that you have received them.
After that, cryptocurrency from your account will be transferred to the buyer's account.
How to Sell Cryptocurrency Through a Liquidity Pool
On Binance you can sell some digital assets for stablecoins (USDT, BUSD, DAI, etc.). To do this, go to the Liquidate Exchange to the tab “Exchange».
Specify the cryptocurrency you want to sell and then the one you want to receive on the exchange. Please note that not all trading pairs available in the classic terminal are available. It all depends on which liquidity pools are created by users. Liquidity providers receive a reward for each transaction in the pool where their assets are located.
Click the button “Exchange” (you can also pre-set the allowed slippage by clicking on the gear). The exchange is performed instantly.
Cryptocurrency and OTC Conversion
A tool «Conversion», or over-the-counter transactions, on Binance allows you to quickly exchange cryptocurrencies for each other, without fees or verification, incl. for stablecoins. This simplifies the procedure for beginners who do not want to understand exchange orders.
Within OTC (verification required) you can make transactions in the equivalent of $10,000, through conversion – starting from $10. Specific limits depend on the currency pair. Payment occurs on the spot wallet immediately after the transaction is confirmed. The transaction history is displayed in your personal account in the “Conversion history” section.
Cryptocurrency flash sale on Binance
You can access the sell cryptocurrency for fiat currency section if between along the following path “Buy cryptocurrency» -> «Credit and debit cards“, and then click on “Sell cryptocurrency“Here you can quickly convert the most popular cryptocurrencies and stablecoins into fiat.
The security of the exchange is ensured by cooperation with reputable payment partners. Coins will be debited directly from the Binance exchange balance, and fiat funds will also be credited there. Their withdrawal is possible after account verification.
Exchange on the decentralized exchange Binance DEX
Platform Binance Dex allows you to trade cryptocurrencies and stablecoins located on the Binance Chain and Binance Smart Chain (BEP-2 and BEP-20) blockchains in a decentralized manner (using the Binance Chain wallet).
- Log in to Binance DEX https://www.binance.org/.
- Connect using the Binance browser wallet that stores your cryptocurrency.
- Select a trading pair in the top left corner.
- Create a sell order on the lower right corner.
The speed of transactions, as well as the size of fees, depend on the current state of the blockchain. All transactions are carried out directly between users’ decentralized wallets.
How else can you sell cryptocurrency?
Selling cryptocurrencies is possible not only through the Binance exchange, but also in other ways. The main possible ways are as follows:
- Centralized and decentralized cryptocurrency exchanges (For example, Bybit, OK, cooperative, MEXC Global, EXMO, Uniswap Balancer, Sushiswap).
- Exchanges – allow you to withdraw cryptocurrency to a card or to almost any major e-wallet.
- Electronic payment systems (e.g. Capitalist, AdvCash, payeer) with the possibility of exchanging cryptocurrency for fiat and vice versa.
- Third exchanges p2p similar to Binance p2p – Bybit P2P, OKX P2P, HTX P2P, Garantex, Bitpapa etc.
- Almost all cryptocurrencies wallets with the function of exchanging coins for stablecoins, other currencies or withdrawal to card.
- Telegram Bots. Examples: @Baksman_wallet_bot , @BitpapaExpressBot.
Additionally, you can obtain cryptocurrency cash using physical crypto ATM devices.
Frequently asked questions
Conclusion
We have listed the main ways in which you can sell cryptocurrencies on Binance. Many of them require verification, this is due to the requirements of regulators who need to monitor suspicious transactions, especially large ones. If the exchange did not adhere to these rules, it would not be able to work with many jurisdictions. However, you can waive verification if you do not withdraw more than 2 BTC per day and do not use fiat currency, but, for example, exchange cryptocurrencies for stablecoins.