Following our recently-updated guide on how to buy Bitcoin, we now provide you with various available options on how to convert BTC into fiat currency on Binance and our partner platforms.
While we at Binance advocate for everyone to buy crypto, we understand that you sometimes need to sell crypto because you might need cash. And as the world’s largest crypto exchange, trusted by millions of users, we offer you some of the best methods for selling Bitcoin at the rate that’s most favorable to you. Besides, our 24/7 Customer Support team is always ready to help you if there are problems with your transaction.
But First: Explore Other Non-Selling Alternatives.
With crypto becoming more prominent day by day, there are a lot of ways for you to pay for your transactions using the crypto you have. Ask yourself the following questions:
“Will I sell Bitcoin into cash to protect myself from the price fluctuations?”
If yes, then don’t sell immediately. Explore converting your crypto into stablecoins such as BUSD. Using stablecoins protects your cryptos' fiat valuation without needing to cash out and incurring fees in the process.
“Is there a way for me to pay for my transactions using crypto?”
If yes, then we suggest opting for those methods. Most of the time, opting for crypto payments can end up costing you less than going through the hassle of converting crypto into fiat.
One great way to use crypto to pay for your expenses is the Binance Card, which allows you to use the crypto on your Binance account to pay for your bills anywhere in the world. The card is now available in many countries in Europe, with more areas to follow soon. Get one now, and you may not need to cash out for long.
Now, if after those questions, you still need to convert crypto into your local currency, then we’re here to help you regardless.
For a streamlined manner of selling Bitcoin and turning that into cash, the Binance Cash Gateway offers a simplified and secure way for you to directly convert BTC into USD, EUR, and other currencies you may need at the moment.
Sell Bitcoin directly to other Binance users to exchange them for your local fiat currency. Browse a variety of Bitcoin listings to shop for the best offers on Bitcoin from other users. To place an order, you must first place your Bitcoin (or other cryptocurrencies) into the P2P wallet portion of your account.
3. Trade Your Bitcoin for Fiat and Withdraw Them From Your Account
Over the past few months, we’ve launched support for the storage of fiat currencies like Euro (EUR), Brazilian reais (BRL), Australian dollar (AUD), British pound (GBP), and the Turkish lira (TRY) on your Binance account. If you need to sell your Bitcoin into any of the following supported fiat currencies, all you need to do is to sell Bitcoin in the corresponding trading pair, then withdraw the fiat currency you earned from that transaction.
The newly launched Convert and OTC Portal allows you to convert the BTC you have on your account into select fiat currencies that the portal supports. While this platform is available for large-scale transactions, you can get access to friendlier rates for your deal than what’s on the open market through this platform.
BONUS: Use Our Fiat-to-Crypto Partners to Sell Bitcoin into Cash
Depending on where you are in the world, Binance can offer you many options on where to sell Bitcoin into cash
Binance.US - Convert Bitcoin into US dollars (USD)
Binance.SG - Convert Bitcoin into Singapore dollars (SGD)
Binance.TR - Convert Bitcoin into Turkish lira (TRY)
Binance.AU- Convert Bitcoin into Australian dollars (AUD)
Note: Each of these platforms has its own registration processes.