P2P
Convert & Sell Bitcoin for Cash
How to Convert & Sell Bitcoin for Cash
Now in Binance P2P Cash Zone, you can sell bitcoin for cash in 10+ fiat currencies: AMD, CLP, DOP, GEL, GHS, GTQ, HNL, KES, NGN, NIO, PEN, PKR, TWD, UYU and ZAR.
How to Cash Out Bitcoin? 700+ Payment Methods and 100+ Fiat currencies
There are several ways to sell bitcoin for cash on Binance P2P, each with its pros and cons. You simply need to evaluate which one is the best for you.
Payment Method | Description | Link |
|---|---|---|
Bank Transfer | A domestic wire transfer where the originator and beneficiary institutions are located in the same country. A bank transfer refers to any chain of wire transfers that takes place entirely within the borders of a single country. Domestic wire transfers are often processed within 24 hours but may also vary depending on your country. | |
Transfer With a Specific Bank | A transfer to another individual using the same bank as you. This option allows you to add your bank account information if you are unable to find the name of your bank. | |
SEPA (EU) Transfer | Single Euro Payment Area (SEPA) transfers. These wire transfers simplify money transfer for Euros. Please note that SEPA transfers can take anytime between a few seconds to 2 business days, depending on the country you are in. | |
SWIFT Transfer | Society for Worldwide Interbank Financial Telecommunications are transactions processed via the SWIFT network. Payment types can range from direct deposits to international bank transfers. Transfers generally take 1-5 working days. The bank processing the payment may charge around 3 to 4% as part of their service. | |
Cash Deposit to Bank | You can deposit cash into the seller's bank account at your local bank branch or via an ATM. The money will be available instantly or by the next business day, depending on your bank's policy. | |
Cash in Person | Offline payment method and the only method that requires face-to-face (F2F) meetings to complete transactions. You will need to arrange a meeting with the counterpart in a safe place and exchange the crypto for cash. | |
Online Wallet | Customers can transfer money from one wallet to another if both parties have the same e-wallet. The transfer is done instantly. | |
Mobile Top Up | It is a transfer where you add credit to the recipient's mobile number. All you need to know is their phone number. |
How to sell bitcoin for cash in the Cash Zone?
A better way to exchange bitcoin for cash is Binance’s new Cash Zone, where users can buy and sell crypto from dedicated cash merchants with physically registered stores in their area. However, this option is only available for certain currencies: AMD, CLP, DOP, GEL, GHS, GTQ, HNL, KES, NGN, NIO, PEN, PKR, TWD, UYU and ZAR.
Step-By-Step Guide to Cash Out Bitcoin for Money
Now that you know your options for selling bitcoin, we’ll go through the P2P Cash Zone option. To get started, you need to have a Binance account on and complete KYC verification.
Set up your ad
Choose your preferred payment method, currency and the amount of bitcoin you are planning to sell.
Place an order
After reviewing all the ads and selecting the one that works better for you, place your order. Your crypto will be escrowed by Binance P2P.
Confirm the payment
Check the transaction record in the given payment account, and make sure you receive the money sent by the buyer.
Release your crypto
Once you confirm the receipt of money, release the agreed amount of crypto to the buyer on Binance P2P.
Things To Remember About Converting Bitcoin To Cash
Before you convert your bitcoin to cash, consider the following points:
Taxes:
If you are earning profits by selling bitcoin, you will need to pay taxes on your profit income. On Binance, you can download a file with all your transactions for tax purposes.
Fees:
Unlike other platforms, Binance P2P does not charge fees for buying and selling cryptocurrencies. You can buy and sell bitcoin with zero fees.
Speed:
It usually takes exchanges a couple of days to transfer the funds. However, on Binance P2P you can convert your bitcoin into cash instantly, depending on how fast the party makes payment and the payment method you are using.
If speed is a concern, you can go to the advertiser profile and check the average pay time to trade with the fastest one.
Binance: Where the World Converts Bitcoin to Cash
Payment Method | Currencies Supported | Crypto Supported |
|---|---|---|
Bank Transfer | All | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, DOT, XRP, TUSD, C98, and WRX |
Transfer With a Specific Bank | All | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, DOT, XRP, TUSD, C98, and WRX |
SEPA (EU) Transfer | EUR | USDT, BTC, BUSD, BNB, ETH, DAI, and SHIB |
SWIFT Transfer | All | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, DOT, XRP, TUSD, C98, and WRX |
Cash Deposit to Bank | All | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, DOT, XRP, TUSD, C98, and WRX |
Cash in Person | BRL, USD, COP, RUB, PYG, PEN, TWD, VES, HKD, AED, NGN, INR, UAH, ARS, EGP, KZT | USDT, BTC, BUSD, BNB, ETH, DAI, ADA, DOGE, BIDR and SLP |
Online Wallet | All | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, DOT, XRP, TUSD, C98, and WRX |
Mobile Top Up | AED | USDT, BTC, BUSD, BNB, ETH, DAI, DASH, ADA, SHIB, DOGE, TRX, MATIC, SOL, and DOT. |
Cash Zone | AMD, CLP, DOP, GEL, GHS, GTQ, HNL, KES, NGN, NIO, PEN, PKR, TWD, UYU, and ZAR | USDT and BUSD |
FAQ
How to sell bitcoin and other cryptocurrencies on Binance P2P (desktop)?
You can sell cryptocurrencies on the Binance P2P platform, instantly and securely! For more information, you can refer to our guide.
How to sell bitcoin and other cryptocurrencies on Binance P2P (app)?
You can sell cryptocurrencies on the Binance P2P platform, instant and secure! For more information, you can refer to our guide.
How to sell bitcoin and other cryptocurrencies via P2P trading on Binance Lite?
Binance Lite allows users to sell cryptocurrency via P2P trading with over 150 payment methods. Using P2P trading, you can easily sell crypto to other Binance users.
For more information, you can refer to our guide.
P2P user transaction policy
For more information, you can refer to our guide.
Binance Terms of Use
For more information, you can refer to our Terms of Use.
How to Sell Crypto via the P2P Cash Trade Zone on the Binance App
The Binance P2P Cash Zone lets you quickly locate the nearest stores that offer crypto sellers cash as a payment method. You can refer to our [guide] (https://www.binance.com/en/support/faq/how-to-sell-cryptocurrency-via-p2p-cash-trade-zone-on-binance-app-281b12d4a7c34598b3403eb7299663bc) for more information.
How to Become a Binance P2P Cash Merchant
When you become a [Binance P2P Cash Merchant] (https://www.binance.com/en/support/faq/how-to-become-a-binance-p2p-cash-merchant-f65f4def04f04169aa20de0ddb5c5acf), you can post ads with cash as a payment method and make money by posting cash trading ads
How to Post Cash Trade Advertisements on Binance P2P (App)
When you become a Binance P2P cash Merchant, you can post cash advertisements using the Binance App. You can refer to our [guide] (https://www.binance.com/en/support/faq/how-to-post-cash-trade-advertisements-on-binance-p2p-app-fca8a35804f24cc5a15054e6c4265c4f) for more information.