Confused about how to sell crypto using a popular platform? Many platforms don’t allow users to sell their cryptocurrencies for cash. However, Binance allows you to easily sell your crypto for fiat and transfer it to your bank account. How? Here is a post to help you learn how to sell crypto on Binance.
Binance is among the widely trusted and used platforms for trading in cryptocurrencies. It has various features that make it an attractive exchange and platform. It allows you to easily buy or sell cryptocurrencies of your choice. You just need to register on the platform, verify your identity, and begin trading cryptocurrencies you like.
People often wonder how to sell crypto on Binance. It looks a little complicated but is quite simple. You just need to follow a few steps and you’ll sell your crypto on the Binance platform. Log in >> Sell >> Amount >> Payment Method >> Review >> Confirm. Want to learn these steps on how to sell crypto on Binance in detail? This post has got more detailed information for you!
Still confused? It is not a complicated process to sell crypto on the Binance platform. Here is a post to help you understand how to sell crypto on Binance. Go through the post till the very end to get all your doubts clear regarding how to sell crypto on Binance. So, let us jump into the post and start by discussing the Binance platform and its pros and cons.
What Is Binance?
Binance is a widely popular cryptocurrency exchange. It is the largest crypto exchange worldwide in terms of the trading volume of cryptocurrencies. It is registered in the Cayman Islands and was founded in 2017. It offers a huge variety of cryptocurrencies to its users. Users can buy, hold, or trade over 600 cryptocurrencies. It is available for both Android and iOS users.
It also provides a crypto wallet to its users for storing their cryptocurrencies. It also has its blockchain-based token known as Binance Coin or BNB. It has the lowest transaction fee for crypto exchanges. It is also known for its high liquidity and users also get discounts if they pay in BNB coins. Let us move on and discuss the advantages and disadvantages of Binance before learning how to sell crypto on Binance.
What Are The Pros And Cons Of Binance?
Binance is among the most used platform by cryptocurrency traders. Here are some of the advantages and disadvantages of the Binance platform that you must be aware of before knowing how to sell crypto on Binance.
Pros Of Binance
- Wide selection of order types and trading options.
- The platform has a low transaction fee.
- More than 65 tradable cryptos for US users.
Cons Of Binance
- The US version is quite limited.
- It may be a confusing platform for many users.
- It has run into regulatory trouble in certain countries.
These were a few pros and cons of using the Binance platform, let us now discuss how to sell crypto on Binance.
How To Sell Crypto On Binance?
Are you confused about how to sell crypto on Binance? Don’t be! It isn’t a complicated process at all. You just have to follow some steps and you’ll learn how to sell crypto on Binance. So, let’s quickly check out what these steps are!
You can sell your cryptos for fiat currency and have them transferred to your debit/ credit card on Binance.
1. Log In
The first thing is to open the Binance platform and log in to your account. Type your credentials like email etc. to log in. Once you’ve logged in, you’ll find Buy Crypto on the left-hand side at the top of the page. Click on that and then press the Credit/ Debit card option.
2. Sell
You’ll land on a page where you can see the Sell option on the right side. Click on that. Choose the Fiat currency and the cryptocurrency you’d like to sell. Type the amount and then press the continue button.
3. Payment Method
You now need to choose a payment method. Tap on Manage cards. You can choose from the existing cards or even add a new one. You can simply click on Add a new card option and enter the details of your card. You’ll find a list of cards, you can also remove any of them if you wish to.
4. Confirm
Once you’ve added or chosen your card, you can click on the Confirm button to proceed further. You can check carefully all the details and then press the Confirm button within a minute to confirm your order. The price and amount of the crypto you’ll get will be recalculated. Press Refresh to check the latest market price.
With these steps, you’ve successfully learned how to sell crypto on Binance and receive cash in return.
Wrapping-Up:
Many traders use the Binance platform but are unaware of how to sell crypto on Binance. This post is all about how to sell crypto on Binance. You just need to follow a few simple steps and you can easily sell your crypto holdings using the Binance platform. We hope you’ve got all your queries resolved by reading this post. If not and you’ve still got any doubts related to this, feel free to write your queries in the comment section below. Don’t forget to share the post and help your friends know how to sell crypto on Binance!
Frequently Asked Questions
Q1. Can You Sell Crypto On Binance?
A. Yes, Binance is a popular platform that allows you to buy, sell, or trade cryptocurrencies.
Q2. Do I Have To Pay Tax On Cryptocurrency UK?
A. There isn’t any specific crypto or Bitcoin tax in the UK. Instead, cryptocurrency will either be subject to Income tax or Capital gains tax.
Q3. Can I Convert Crypto To Cash?
A. Yes, you can use a peer-to-peer platform to sell your cryptocurrency to some other person in exchange for cash. The buyer can be asked to make a bank deposit, bank transfer, or meet in person for this exchange.
Q4. When Should I Sell Crypto?
A. One of the reasons to sell your cryptocurrency is when you find it isn’t a good investment. f the price of the crypto you’re holding drops, you can opt to sell it.
