Ready to convert crypto to cash? The P2P feature handles it. Ensure you've sign up for Binance with identity verification, then download the Binance APP for the most convenient access.
Basic Flow
- Convert any crypto to USDT (if not already USDT)
- Transfer USDT to your funding account
- Sell on P2P
- Buyer pays to your bank account
- Confirm receipt and release crypto
Detailed Steps
Step 1: Convert to USDT
If holding BTC, ETH, etc., sell on spot market or use Convert to get USDT.
Step 2: Transfer to Funding Account
Assets > Transfer > Spot to Funding account.
Step 3: Enter P2P Sell
Buy Crypto > P2P > select "Sell" tab > choose USDT.
Step 4: Choose a Buyer
Look for: good price, high trade volume, good rating, and your preferred payment method.
Step 5: Complete the Trade
Enter sell amount, confirm the order. Your USDT is held in escrow. After receiving payment confirmation in your bank app, tap "Confirm Release."
Set Up Payment Methods First
Go to Profile > Payment Methods > Add your bank account. Ensure the name matches your verified identity.
Safety Tips
Verify Receipt Before Releasing
Cannot stress this enough — check your bank balance, not just screenshots.
No Crypto-Related Payment Notes
Tell buyers not to mention crypto in transfer notes.
Control Transaction Frequency
Frequent large receipts may trigger bank risk controls.
Summary
P2P selling is how you convert crypto to cash on Binance. Convert to USDT first for fastest execution. Core rule: confirm receipt before releasing.