The Fastest Way to Convert Bitcoin to Dollars Using Binance (Step … – MUO – MakeUseOf
Once you've invested in Bitcoin, what you do next is up to you. Some wish to hold their BTC short-term, while others are in it for the long run. Regardless of your personal goals, if the time comes when you want to cash out on your Bitcoin, you want a method that's quick and easy.
Here's the fastest way to convert your Bitcoin to dollars using Binance.
To access your BTC funds on Binance, you'll need to log into your account.
If you don't have a Binance account but still want to use this method to cash out on your Bitcoin, the process will take a little longer, as you'll need to create a Binance account and verify your identity. Head to Binance and select Sign Up in the top-right corner of the page to create a new Binance account.
Binance's KYC (Know Your Customer) verification usually takes a few minutes to an hour to process, but it may take longer if there are problems with your identity documents.
You can convert your Bitcoin to dollars on Binance in several ways, but the fastest is to use the exchange's buy-and-sell feature. You can access this page by clicking on the Buy Crypto option on the left-hand side of the top menu bar.
Here, you can switch between the buying and selling features with just a click. You'll initially be taken to the buying section, but clicking the Sell option right next door switches to the selling option.
Now, it's time to select how much Bitcoin you want to sell for cash. Make sure your Bitcoin is currently in your Binance account's Funding Wallet, or you won't be able to conduct the transaction.
Enter the amount of Bitcoin you want to sell, and you'll immediately be able to see how much USD you'll get in return. This amount will change frequently, as the price of Bitcoin is always fluctuating.
If you're happy with the sale amount, go ahead and click Continue. You can then select a trading option. In this case, we went for peer-to-peer (P2P) trading.
You can also buy Bitcoin on Binance using the P2P feature.
Now, you'll be taken to the peer-to-peer sell page, where you can view a list of users looking to buy Bitcoin.
Here, you can see the ratings for each buyer, as well as how many orders they've facilitated. You can also view the forms of payment they support, such as UniCredit, Skrill, Perfect Money, and regular bank transfers.
Depending on the payment method you use, you may have to create an account with the receiving payment option. Upon sale, you'll have to provide information on your receiving payment account so that the buyer can send the funds to the right place.
If you are selling Bitcoin using a peer-to-peer platform, make sure you have received the payment for your crypto before approving any transfer. This will prevent a malicious user from taking your crypto and hitting the road without paying you. You should also check that a buyer isn't poorly rated before going through with a sale.
Prospective buyers often provide some information on how they conduct sales in the Advertiser's Terms section. You'll see this when you select a buyer.
Check these terms before going through with the sale, as you may find something you don't like.
Now that you've chosen a peer-to-peer buyer, select a payment method and provide details about your receiving account. For instance, if you're using Perfect Money, you'll need to provide your PM account number. If you want to get paid via a direct bank transfer, you'll need to provide your bank name and account number.
Once you're happy with the payment method and feel you have selected the right buyer, you can go ahead and confirm the sale. The amount of time it takes for your funds to arrive will vary based on the seller you've chosen.
After confirming the sale, your Bitcoin will be placed in escrow until you've confirmed payment from the buyer. Once you've received the buyer's payment, you can confirm it on your Binance account, and the escrowed Bitcoin will be sent to them.
If you're looking to sell your BTC for cash, you can do so in minutes using Binance. Whether you just want to sell off a few dollars worth of Bitcoin or want to make a hefty sale, Binance can accommodate you.
Excerpt from:
The Fastest Way to Convert Bitcoin to Dollars Using Binance (Step ... - MUO - MakeUseOf
- US Sovereign Wealth Fund dashes hopes of Strategic Bitcoin Reserve - Protos - February 5th, 2025 [February 5th, 2025]
- U.S. Bitcoin Reserve May Be Coming, But States Are Winning the Race - CoinDesk - February 5th, 2025 [February 5th, 2025]
- Standard Chartered says bitcoin price could reach $500,000 by 2028 - The Block - February 5th, 2025 [February 5th, 2025]
- Truth Social owner Trump Media expands into finance, may invest in bitcoin - CNN - January 30th, 2025 [January 30th, 2025]
- 3 Bitcoin and Crypto Market Changes During Trump's First Week Back In The Oval Office - Investopedia - January 30th, 2025 [January 30th, 2025]
- Czech central bank to consider holding bitcoin as reserve asset - Reuters - January 30th, 2025 [January 30th, 2025]
- Illinois leads the U.S. in creating first Bitcoin Reserve - crypto.news - January 30th, 2025 [January 30th, 2025]
- Bitcoin Has Struggled to Stay Above $100,000 in January. Will This Trend Continue? - The Motley Fool - January 30th, 2025 [January 30th, 2025]
- Elon Musk's Tesla Booked a Q4 Gain on its Bitcoin (BTC) Holdings - CoinDesk - January 30th, 2025 [January 30th, 2025]
- Bitcoin rallies to $104.7K after Fed FOMC nothing burger lines up with market expectations - Cointelegraph - January 30th, 2025 [January 30th, 2025]
- Czech Central Bank Head Wants To Buy Bitcoin With 5% Reserve Allocation - Bitcoin Magazine - January 30th, 2025 [January 30th, 2025]
- Bitcoin holds $100K as Fed keeps rates steady, Powell remains cautious on cuts - Crypto Briefing - January 30th, 2025 [January 30th, 2025]
- The US. Government Will Certainly Buy Bitcoin: Heres Why - Forbes - January 30th, 2025 [January 30th, 2025]
- The Game Theory of a Strategic Bitcoin Reserve - Bitcoin Magazine - January 30th, 2025 [January 30th, 2025]
- Robinhood 'Begun Rolling Out' Futures Trading: To Offer Bitcoin, Ether and Other Contracts - Finance Magnates - January 30th, 2025 [January 30th, 2025]
- Galaxy's Steve Kurz on what is next for bitcoin - CNBC - January 30th, 2025 [January 30th, 2025]
- What the critics of a strategic bitcoin reserve don't understand - American Banker - January 30th, 2025 [January 30th, 2025]
- Bitcoin drops below $100,000 in risk-off move as Nasdaq stocks are hit - CNBC - January 30th, 2025 [January 30th, 2025]
- 1.1M Bitcoin Bought Near ATH Is Still Untouched New BTC Holders Hold Firm? | Bitcoinist.com - Bitcoinist - January 30th, 2025 [January 30th, 2025]
- Bitcoin Drop Fueled by Shakeup in AI Sector Casts Cloud Over Crypto Rally - Bloomberg - January 30th, 2025 [January 30th, 2025]
- Forget About The Strategic Bitcoin Reserve For A Moment Mining Censorship Is Back - Bitcoin Magazine - January 30th, 2025 [January 30th, 2025]
- U.S. Vs. China: DeepSeek, Bitcoin And The Power Play Shaping Global Trade - Forbes - January 30th, 2025 [January 30th, 2025]
- Bitcoin Price Forecast: Why could the Fed interest rate decision bring volatility to BTC? - FXStreet - January 30th, 2025 [January 30th, 2025]
- How will the FOMC decision affect Bitcoin and altcoin prices? - crypto.news - January 30th, 2025 [January 30th, 2025]
- Czech National Bank governor to propose $7B Bitcoin reserve plan - Cointelegraph - January 30th, 2025 [January 30th, 2025]
- Whos In Control? New Bitcoin Investors Now Hold Over 50% Of The Market - Bitcoinist - January 30th, 2025 [January 30th, 2025]
- MicroStrategy adds another bull to its side, and yes, its all about bitcoin - MarketWatch - January 30th, 2025 [January 30th, 2025]
- Head of Czech Central Bank Proposes Investing 5% of Countrys Reserves in Bitcoin (BTC) - The Daily Hodl - January 30th, 2025 [January 30th, 2025]
- Bitcoin Price News: BTC Selloff on DeepSeek's AI Is a Buy the Dip Opportunity - CoinDesk - January 30th, 2025 [January 30th, 2025]
- XRP, Bitcoin, and Other Tokens Bracing for Major Fed Decision - U.Today - January 30th, 2025 [January 30th, 2025]
- BlackRock Buys Another $1,000,000,000 Worth of Bitcoin in a Week To Control 2.7% of BTC Supply - The Daily Hodl - January 30th, 2025 [January 30th, 2025]
- Bitcoin struggles below $100,000, will Trumps plan to tackle inflation push BTC higher? - FXStreet - January 27th, 2025 [January 27th, 2025]
- Trump Vows to Send Bitcoin to Much Greater Heights Backed by 100% Commitment - Bitcoin.com News - January 27th, 2025 [January 27th, 2025]
- XRP, Bitcoin Are Falling. It Isn't Just China AI Threat That Is Hurting Crypto Today. - Barron's - January 27th, 2025 [January 27th, 2025]
- All Eyes Were on Bitcoin and XRP - Bitcoin.com News - January 27th, 2025 [January 27th, 2025]
- Why Bitcoin, Ethereum, and Dogecoin Crashed Today - The Motley Fool - January 27th, 2025 [January 27th, 2025]
- MicroStrategy Adds Another Billion Worth Of Bitcoin, Will Sell More Shares For Future Buys - Investopedia - January 27th, 2025 [January 27th, 2025]
- Whats driving the market bloodbath that Arthur Hayes sees battering Bitcoin to $70,000 - DLNews - January 27th, 2025 [January 27th, 2025]
- Bitcoin: Is This The Beginning Of The End? - Forbes - January 27th, 2025 [January 27th, 2025]
- Bitcoin has nothing to do with DeepSeek. Heres why its price tumbled anyway. - MarketWatch - January 27th, 2025 [January 27th, 2025]
- MicroStrategy Just Went All In on Bitcoin--Again. Is This Genius or Financial Suicide? - Yahoo Finance - January 27th, 2025 [January 27th, 2025]
- QCP Insights: Bitcoin Not Likely to Break Above $110,000 Without Strategic Bitcoin Reserve - Bitcoin.com News - January 27th, 2025 [January 27th, 2025]
- MicroStrategy to raise funds for Bitcoin with new perpetual preferred STRK stock offering - CryptoSlate - January 27th, 2025 [January 27th, 2025]
- MicroStrategy Buys the Top, Adding $1.1 Billion in Bitcoin Ahead of Price Plunge - Decrypt - January 27th, 2025 [January 27th, 2025]
- Bitcoin Likely to Consolidate Before Recovery: Key Reasons Explained - CryptoPotato - January 27th, 2025 [January 27th, 2025]
- Absence of Bitcoin panic selling suggests BTC drop below $98K is a short-term blip: Analyst - Cointelegraph - January 27th, 2025 [January 27th, 2025]
- Leak Reveals Musks Doge Could Be About To Trigger A Bitcoin-Inspired Price Game-Changer - Forbes - January 27th, 2025 [January 27th, 2025]
- Bitcoin Vs. XRP: Will BRICS Influence The US Crypto Reserve? - Bitcoinist - January 27th, 2025 [January 27th, 2025]
- Did Trump's Crypto Order Deliver On His Promise Of A Bitcoin Strategic Reserve? - Investopedia - January 27th, 2025 [January 27th, 2025]
- Bitcoin gains as US SEC gives crypto its first policy win - Reuters - January 27th, 2025 [January 27th, 2025]
- Ripple CTO Explains Why Bitcoin Maxis Are Attacking XRP - The Crypto Basic - January 27th, 2025 [January 27th, 2025]
- BTC Price Forecast: Will US Policies Drive Bitcoin Beyond $110K? - FX Empire - January 27th, 2025 [January 27th, 2025]
- MicroStrategy's $1.05B Bitcoin Gamble: Genius Move or Financial Disaster in the Making? - Yahoo Finance - January 27th, 2025 [January 27th, 2025]
- Crypto Market Crashes Over Weekend, Bitcoin Drops to $99K - Crypto Times - January 27th, 2025 [January 27th, 2025]
- Bitcoin Price Top Could Be At $180,000 In This Cycle , Blockchain Firm Explains How | Bitcoinist.com - Bitcoinist - January 27th, 2025 [January 27th, 2025]
- Arthur Hayes Claims Bitcoin Will Slump to $70,000 Before Rebounding to $250,000 - BeInCrypto - January 27th, 2025 [January 27th, 2025]
- Donald Trumps executive order sparked $1.9 billion crypto ETP inflow, Bitcoin dominates - CryptoSlate - January 27th, 2025 [January 27th, 2025]
- 3 Potential Catalysts That Could Send Bitcoin, Solana, and XRP Soaring in 2025 - The Motley Fool - January 27th, 2025 [January 27th, 2025]
- 'Rich Dad Poor Dad' Author: Bitcoin Will Bloom, Bloom As Buggiest Crash Is Coming in Feb 2025 - U.Today - January 27th, 2025 [January 27th, 2025]
- Bitcoin price still on track for $180K in 2025: Interview with Filbfilb - Cointelegraph - January 17th, 2025 [January 17th, 2025]
- Why Bitcoin, Ethereum, and Dogecoin Are Surging Today - The Motley Fool - January 17th, 2025 [January 17th, 2025]
- Bitcoin Primed To Hit a Much Higher Price Faster Than People Expect, Says Kevin Svenson Heres His Target - The Daily Hodl - January 17th, 2025 [January 17th, 2025]
- Bitcoin Stocks Pop as Crypto Rallies Ahead of Trump Inauguration - Investopedia - January 17th, 2025 [January 17th, 2025]
- Should You Forget Bitcoin and Buy XRP Instead? - The Motley Fool - January 17th, 2025 [January 17th, 2025]
- Bitcoin Will Adapt To The Technological Advances Of Quantum Computing - Forbes - January 17th, 2025 [January 17th, 2025]
- Trump and bitcoin: BlackRock predicts another historic year for crypto - CNBC - January 17th, 2025 [January 17th, 2025]
- Bitcoin touches $100,000 again as a cool inflation reading fuels risk appetite - CNBC - January 17th, 2025 [January 17th, 2025]
- Bitcoin Could Reach $300,000 in 2025, HashKey Survey Predicts Amid Growing Institutional Interest - Yahoo Finance - January 17th, 2025 [January 17th, 2025]
- Italy's Intesa 'tests' bitcoin with 1 mln euro investment - Reuters - January 17th, 2025 [January 17th, 2025]
- Stablecoin Deals and China, Europe to Follow U.S. With Bitcoin Reserve: Wintermute Predictions - CoinDesk - January 17th, 2025 [January 17th, 2025]
- How the Updated MVRV Z-Score Improves Bitcoin Price Predictions - Bitcoin Magazine - January 17th, 2025 [January 17th, 2025]
- Bitcoin rebounds to $100,000 as inflation data puts Fed rate cuts back on the table - Fortune - January 17th, 2025 [January 17th, 2025]
- Publicly Traded U.S. Crypto Miners Double Bitcoin Holdings to Almost 100K in a Year - CoinDesk - January 17th, 2025 [January 17th, 2025]
- Small-cap crypto rallies ahead of Trump inauguration, bitcoin trades at $100,000 - CNBC - January 17th, 2025 [January 17th, 2025]
- Bitcoin swings back above $96,000, in stunning reversal, as light inflation data stokes risk appetite - CNBC - January 17th, 2025 [January 17th, 2025]
- Bitcoin Poised to Top Record as Trump Inauguration Nears, Major Coins Due for 10% Swings: Traders - Yahoo Finance - January 17th, 2025 [January 17th, 2025]
- How Trump risks triggering a Bitcoin sell-off that will drive the price as low as $80,000 - DLNews - January 17th, 2025 [January 17th, 2025]
- Bitcoin accelerates its slide, falling toward $90,000 to start the week - CNBC - January 17th, 2025 [January 17th, 2025]
- Thailand Mulls Allowing First Bitcoin ETF in Bid to Boost Sector - Bloomberg - January 17th, 2025 [January 17th, 2025]
- Investor Cliff Asness says bitcoin is a bubble unless uses besides speculation and criminality emerge - CNBC - January 17th, 2025 [January 17th, 2025]