Got Coins and Want to Cash Out? Here's How
Everyone knows how to buy, but selling is where many people get stuck. "I have ETH and want to convert it to USDT — how do I do that?" "My coins are in the funding account and I can't sell them?" "After selling, how do I convert USDT back to cash?" These are the most common beginner questions. Today I'll walk you through the entire process from selling coins to cashing out. Everything is done on the Binance website or official Binance app (iPhone users, install via the iOS installation guide first). Open the app and follow along.
First: Confirm Where Your Coins Are
This step is crucial — many beginners get stuck right here.
Your Binance account has several "sub-accounts," and your coins could be in different places:
Spot Account: The main account for spot trading. Coins must be here to sell on the spot market.
Funding Account: Coins purchased via P2P or received through Binance Pay typically land here. Coins in the funding account can't be directly traded on the spot market.
Earn Account: If you've put coins into savings products, you need to redeem them first.
Futures Account: If you previously transferred coins to the futures account, you need to transfer them back.
How to check: Open the Binance app, tap "Assets" at the bottom, and you'll see balances across different accounts. Find the coin you want to sell and check which account it's in.
How to transfer: If your coins are in the Funding account instead of the Spot account, you need to "Transfer." On the assets page, find the coin, tap "Transfer," select from "Funding Account" to "Spot Account," enter the amount, and confirm. The transfer is instant and free.
Selling Step by Step
Once your coins are confirmed in the Spot account, you can start selling.
Step 1: Go to the Trading Page
Open the "Trade" tab at the bottom of the Binance app. You'll land on the spot trading page by default.
Step 2: Search for the Trading Pair
Type the name of the coin you want to sell in the search box. For example, to sell ETH for USDT, search "ETH" and select "ETH/USDT."
Step 3: Switch to "Sell"
The order area at the bottom has "Buy" and "Sell" tabs. Tap "Sell" to switch to sell mode.
Step 4: Choose Your Order Type
Market Sell (recommended for beginners): Select "Market," then enter the quantity you want to sell. You can type a specific amount or use the percentage slider — 25% sells a quarter of your holdings, 100% sells everything.
After entering the quantity, tap "Sell ETH" and the system fills at the best market price immediately. You'll receive the corresponding USDT.
Limit Sell: If you want to sell at a specific price, select "Limit," enter your desired sell price and quantity. The order waits on the market until the price is reached.
Step 5: Confirm the Trade
Market orders typically fill in seconds. Check "Orders" for the trade details — execution price, quantity, and USDT received.
Go back to "Assets" and you'll see less ETH and more USDT. Congratulations — successful sale!
Want to Convert USDT to Cash?
Many people's ultimate goal is to withdraw money. Converting USDT to local currency requires P2P trading.
Process:
- Find the "Sell Crypto" or "P2P Trading" option in the app
- Select "Sell USDT"
- Enter the amount of USDT to sell
- Choose your payment method (bank transfer, payment app, etc.)
- The system matches you with a buyer
- After the buyer pays, confirm you've received the money, then tap "Release" in the app
- USDT goes to the buyer, and fiat arrives in your payment account
It's the reverse of buying USDT.
Important notes:
- Always confirm the money has actually arrived in your bank account before releasing coins! Don't just look at messages or screenshots
- Don't trade off-platform with strangers
- If the buyer takes too long to pay, cancel the order and rematch
The "Convert" Feature Is Even Simpler
If spot market selling feels too complicated, Binance offers a simpler option — Convert.
Find the "Convert" option on the home page or trading section. Select the coin you want to sell and the coin you want to receive (e.g., ETH to USDT), enter the amount, the system gives you a quote, confirm, and the swap is done.
Convert's advantage is extreme simplicity — no need to think about trading pairs or order types. The downside is the price might be slightly worse than the spot market (because Convert includes a small spread).
For small amounts or when you don't mind a tiny price difference, Convert is the most convenient choice.
How to Sell Different Types of Coins
Major Coins (BTC, ETH, BNB, etc.):
These all have direct USDT trading pairs (BTC/USDT, ETH/USDT, BNB/USDT) with excellent liquidity. Sell anytime using market orders or Convert.
Small-Cap Coins:
Some may not have a direct USDT pair, or the pair may have poor liquidity. Two options:
- Check if the coin has a BTC or BNB pair. Swap to BTC or BNB first, then to USDT
- Use the Convert feature — the system automatically finds the optimal conversion path
"Dust" Assets:
If a coin's balance is too small (worth less than 1 USDT), it might be below the minimum trade threshold and unsellable. Binance offers a "Convert Small Balances to BNB" feature to consolidate these tiny amounts.
In the app, go to "Assets" → "Convert Small Balances" or "Dust to BNB," select the assets to convert, and convert with one tap.
When to Sell
While "when to sell" is highly subjective, some basic principles apply:
Have a clear target price: Decide when you buy at what price you'll sell a portion. For example, sell half when it's up 50% to recover your principal. The rest is pure profit.
Sell in batches: Don't dump everything at once. Sell portions as the price rises. This locks in partial profits while keeping exposure to further upside.
Cut losses decisively: If you misjudged the market and the coin keeps dropping, don't hold on stubbornly. When your stop-loss is hit, sell decisively and preserve capital for the next opportunity.
Tax Considerations After Selling
In different countries and regions, crypto trading profits may be subject to capital gains tax. Check the relevant regulations in your area. Binance offers trade history export — you can download your trading records from the "Orders" page for tax filing purposes.
Security Reminder
Keep these safety points in mind when selling and cashing out:
- When selling USDT via P2P, always confirm money has arrived in your bank account before releasing coins — don't rely on screenshots
- Be aware of "dirty money" risks in P2P trading — choose buyers with high verification levels and large transaction volumes
- Don't trade crypto with strangers outside the Binance platform
- For large sell orders, check market depth to avoid causing major slippage from dumping
- Ignore any "frozen bank account" threats or requests for additional transfers — contact Binance support instead
- Investing involves risk; the crypto market is highly volatile — trade carefully
Open the Binance app now and give it a try. For your first sell, start with a small amount to test the process before handling larger transactions.
FAQ
Are there fees when selling?
Yes. Spot trading has a standard 0.1% fee, reduced to 0.075% with BNB deduction. P2P selling of USDT for fiat generally doesn't have an additional fee, but the buyer's "spread" is built into the price.
I accidentally sold everything. Can I undo it?
Market orders can't be reversed once filled. Limit orders can be cancelled if they haven't filled yet. So always carefully verify the quantity before executing — especially when using the 100% slider.
How long until money reaches my bank account after selling USDT?
P2P transaction speed depends on the buyer's payment speed. Usually quite fast — minutes to half an hour. If the buyer hasn't paid after an extended period, cancel the order and rematch with another buyer.
Why does it show "Available: 0" when I clearly have a balance?
Most likely your coins are frozen in a pending order (you placed a limit sell that hasn't been cancelled), or your coins are in a different sub-account like Funding or Earn. Check your open orders and the balances across different sub-accounts.
Can I delete my account after selling everything?
Yes, but there's no rush. I'd suggest first withdrawing all assets, then waiting a while to confirm there are no remaining issues before considering account deletion. An inactive Binance account doesn't incur fees, so there's no downside to keeping it.