Made some money on Binance or want to cash out your USDT? P2P selling is the most direct method. The process isn't complicated, but a few details determine whether you receive your money smoothly.
Selling requires a verified Binance account. Sign up for Binance to register. After downloading the Binance app, P2P selling is more convenient in the app.
Pre-Sale Preparation
Make sure the USDT you want to sell is in your "Funding Wallet." If it's in your spot or futures wallet, transfer it to the funding wallet first.
Ensure your payment methods are set up in your Binance account. Go to "Profile" > "Payment Methods" and add your bank card, Alipay, or WeChat payment info. Payment methods must be registered under your real name — if your Binance account is verified as John Smith, the receiving account must also be John Smith's.
Step-by-Step Process
Open the Binance app, go to the P2P trading page, and switch to the "Sell" tab. Select USDT as the token to sell and choose your preferred payment method for receiving funds.
The page lists available buyers. Each shows their purchase price, limit range, and supported payment methods. Choose a suitable buyer and tap "Sell."
Enter the USDT amount you want to sell or the fiat amount you want to receive — the system auto-calculates the corresponding value. After confirming, your USDT is locked by the system and the trade process begins.
Next, wait for the buyer to pay. The buyer will transfer fiat to your designated payment account within the allotted time (typically 15–30 minutes).
Confirm and Release After Receiving Payment
When you receive the buyer's payment — make sure you've actually received the money, not just a transfer screenshot — return to the Binance app and tap "Confirm Release." The system releases your previously locked USDT to the buyer, completing the trade.
The correct way to verify receipt: log into your bank app or Alipay to check balance changes and transfer records. Don't release crypto based solely on screenshots from the buyer — screenshots can be faked.
Tips for Choosing Buyers
Prioritize verified merchants — their reputation is guaranteed. Check completion rates — be cautious with anyone below 95%. Check recent volume — more active buyers process transactions faster.
Regarding price: different buyers offer slightly different rates. Don't chase the highest price exclusively — high-price buyers with poor reputations mean more trouble if disputes arise. The best approach is choosing buyers with reasonable prices and good reputations.
Potential Issues
Issue 1: Buyer doesn't pay within the time limit. The order auto-cancels and your USDT unfreezes. No loss to you.
Issue 2: Buyer claims to have paid but you haven't received anything. Don't release — tap "Appeal" to have Binance support intervene. Provide screenshots of your receiving account proving no payment was received.
Issue 3: Amount received doesn't match the order. Same approach — appeal and don't release.
Tax and Record Keeping
Every P2P trade is recorded and can be viewed in order history. If you need to report income or keep books in the future, these records are valuable. It's recommended to periodically export and back up your transaction records.