Everyone knows how to buy, but how do you sell crypto and convert it back to fiat? This is known as "cashing out." The process is essentially the reverse of depositing: first convert your crypto to USDT, then sell USDT for fiat via C2C trading. Use the Binance official website or the official Binance app. iPhone users can follow the iOS installation guide.
The Complete Cash-Out Process
Step 1: Convert your crypto to USDT
If you hold Bitcoin, Ethereum, or other coins, sell them on the spot market for USDT first.
How: Go to Spot Trading > Find the trading pair (e.g., BTC/USDT) > Tap "Sell" > Select market order > Enter quantity > Confirm
USDT will now be in your spot account.
Step 2: Transfer USDT to Funding Account
C2C selling requires USDT in your "Funding Account," so transfer it first.
How: Assets > Transfer > Select USDT > From Spot Account to Funding Account > Enter amount > Confirm
Step 3: Sell USDT via C2C
Go to C2C trading and select "Sell USDT."
Steps:
- Select "Sell"
- Coin: USDT
- Fiat: Select your currency
- Enter USDT amount or fiat amount you want to receive
- Choose a buyer (merchant)
Merchant selection tips:
- Prefer certified merchants
- Higher unit price is better when selling
- Ensure the merchant supports your linked payment method
- Check online status and trade volume
Step 4: Wait for payment
After placing the order, your USDT is frozen (escrowed). The merchant sees the order and transfers fiat to your bank card/Alipay/WeChat.
Step 5: Confirm receipt and release coins
After receiving payment:
- Check your bank app/Alipay/WeChat to confirm the funds actually arrived
- Return to Binance and tap "Confirm Receipt & Release"
- Complete security verification (SMS + Google Authenticator)
- USDT is released to the merchant — transaction complete
Important Cash-Out Notes
Always confirm receipt before releasing: This is critical. No matter how much the merchant pressures you, verify the money has actually arrived in your bank app or payment account before releasing. Do not rely on SMS notifications or screenshots from the merchant — those can be faked.
Bank transfer timing: Cross-bank transfers may not be instant. Large transfers (over 50,000 CNY) might take 1-2 hours or more. For large amounts, ask the merchant to use same-bank transfers or Alipay (which is essentially instant).
Do not manually transfer USDT: In C2C selling, the merchant sends you fiat and you release coins on the platform. You do not need to manually send crypto to any address. Everything happens within the Binance platform.
Common Cash-Out Questions
Merchant not paying: If the merchant exceeds the time limit without paying, the order is automatically canceled and your USDT is unfrozen. You can also cancel manually and find another merchant.
Cannot release coins after receiving payment: Likely a security verification issue. Ensure your phone can receive verification codes and Google Authenticator is working. If still stuck, contact support.
Are there withdrawal limits?: C2C trading itself has no strict limits, but each merchant has different maximum amounts. For large USDT sales, you may need to split across multiple trades or find high-volume merchants.
Are there tax implications?: Tax policies on cryptocurrency vary by jurisdiction. For large cash-outs, consult a professional tax advisor.
The cash-out process mirrors the deposit process in reverse. After a few times, it becomes routine. The core principle: confirm receipt before releasing coins, and never rush because someone is pressuring you.