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This Is How To Sell USDT For Cash

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

Yes, You Can Sell Tether

The stablecoin Tether (USDT) is readily sold on cryptocurrency exchanges into other digital assets or fiat currency. The most common place to convert USDT into cash is using a leading crypto exchange or peer-to-peer (P2P) platform. These providers allow USDT holders to sell their tokens via different payment channels such as bank account transfers, card payments, and even connections to e-wallet solutions like PayPal and Apple Pay. One of the best places to sell USDT that has low fees, multiple payment methods, and a P2P platform is Binance.

Here's a quick summary of how to sell USDT:

  1. Sign-up with an exchange. Create an account with a low-fee crypto exchange such as Binance using an email address and mobile number. Verify both and insert a unique password.
  2. Verify ID. Upload a copy of a driver’s license and complete the face verification process to unlock all of Binance's features.
  3. Deposit Tether. Copy the wallet address for USDT and transfer it to the Binance wallet.
  4. Choose a payment method. Decide on how to receive US Dollars or another fiat currency such as via a bank transfer, SWIFT, or a bank card.
  5. Sell Tether. Navigate to the Buy Crypto menu and click on ‘Sell'. Select USDT as the crypto to sell and USD as the currency to receive. Enter the amount of Tether to convert into USD and hit the sell button.

How to Sell USDT on Binance P2P – Full Tutorial

Here is an in-depth review for investors wondering how to sell Tether. Our top pick for this review is the Binance exchange. The platform has one of the deepest liquidity of stablecoins in the ecosystem, and all USDT sell transactions on the Binance P2P have zero trading fees. Follow these detailed steps to get started:

1. Create an account with a crypto exchange

Visit the official Binance website. US investors situated can only access the Binance.US domain. Other traders are free to visit the global Binance platform. From the homepage, tap on the ‘Register Now' button, and select the ‘Create an Individual Account' to register for a personal account.

Then, insert a valid email address, mobile number, and a unique password. Investors must verify their emails and phone numbers for two-factor authentication (2FA) purposes. Follow the onscreen prompts to access the newly created account.

Creating an account with Binance

2. Complete ID verification

Binance is a regulated entity, which means new users must complete the necessary know-your-customer (KYC) process to fully access the exchange. To do this, click on the profile icon and select ‘Verify'. Then, upload a copy of a recent driver's license and complete a face verification. Once this is done, the account will receive the green ticker symbol beside the user's profile icon. This shows that the account is verified. If it takes longer than 3 days, read this article on how long it takes for Binance verification.

3. Deposit Tether (USDT) into the wallet

Binance offers many ways for traders to fund their accounts. Investors can convert other assets like selling Bitcoin to cash (USDT) or transfer from their mobile wallet to the exchange.

To transfer USDT to the Binance hot wallet, click on the ‘Deposit' in ‘Wallet' and type in ‘USDT'. Then, select the blockchain network the transfer will be made and copy the accompanying wallet address. Paste it into the wallet and confirm the transaction. The equivalent will be deposited into the spot wallet in a couple of minutes. The transfer time to send USDT can depend on the network selected.

Depositing USDT to Binance

4. Set the USD payment method

Next, set a preferred payment method. Tap the profile icon and select ‘Payment Method' from the settings menu. Tap the ‘P2P Payment Methods' button and add the destination bank account details. for instance bank transfer or SWIFT.

5. Confirm the transaction and sell USDT

The final step is to transfer the USDT from ‘Spot’ to the ‘Funding’ section. Tap on ‘P2P’ and select ‘Sell’. Binance allows users to manually browse through all the lists of verified merchants and an ‘Express' option, which gives users access to the best prices. Once a favorable trade is available, tap on it and set the amount of USDT to be sold.

Selling USDT on Binance P2P

Tap on ‘Sell USDT' and wait for the buyer to release the equivalent funds. Tether investors also have access to a chat function where they can communicate with the counterparty. To prevent losing funds, select the ‘Payment Received’ button if the funds are in the designated account.

Where To Sell USDT Into USD

Tether commands the largest share in the fast-growing stablecoin market. As a result, several top exchanges offer direct support for the fiat-backed crypto asset. Below, we review reputable platforms where investors can sell Tether in USD.

EXCHANGE CRYPTO ASSETS TRADING FEES RATING PROMOTION WEBSITE REVIEW
BinanceBinance

385

0.1% (spot) and 0.02% / 0.04% (Futures)

Rating
We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.8 / 5

Up to $100 welcome bonus

Visit Binance Binance Review
Coinbase LogoCoinbase

241

0.4% (maker), 0.6% (taker)

Rating
We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.7 / 5

$5 BTC bonus (USA only)

Visit Coinbase Coinbase Review
KuCoinKuCoin

806

0.1%

Rating
We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.6 / 5

Up to 500 USDT in bonuses

Visit KuCoin KuCoin Review
Crypto.comCrypto.com

288

0.075%

Rating
We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.2 / 5

None available at this time

Visit Crypto.com Crypto.com Revie…
KrakenKraken

222

0.16% (maker) and 0.26% (taker)

Rating
We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against.
4.8 / 5

None available at this time

Visit Kraken Kraken Review

Different Ways to Sell USDT

The value of USDT, also known as Tether, is pegged to the dollar 1:1. While other cryptocurrencies can fluctuate over time, the value of Tether is expected to be stable and equivalent to $1. For investors who hold Tether, there are numerous ways to sell the asset. We discuss a few of these options below.

P2P Platforms

Peer-to-peer or P2P platforms are one of the easiest ways to sell USDT. These platforms enable direct trading between traders without the need for a go-between. P2P marketplaces match a buyer to a seller to facilitate a crypto trade. In most cases, the platform would provide escrow where the crypto can be stored pending when fiat payments are made. In exchange for facilitating this trade, the platform can charge a small fee.

One primary benefit of these platforms is that they are much more relaxed in their KYC protocols than centralized exchanges. Alternatively, there are no KYC crypto exchanges that omit the stringent verification process. However, the number of platforms is becoming fewer due to regulation.

Traders can get started in minutes and trade with a counterpart in minutes. Another reason they appeal to investors is the variety of withdrawal methods available. Most centralized exchanges are limited in the withdrawal methods they offer. This is due to several reasons, from finding appropriate banking partners to local laws.

With P2P platforms, traders are spoilt for choice. USDT traders can select the best rate and payment method that suits their needs. Some of the best peer-to-peer crypto platforms include Binance P2P and the KuCoin P2P marketplace.

Crypto exchange

Looking for a way to sell Tether instantly? Look no further than cryptocurrency exchanges. Crypto exchanges are third-party platforms that facilitate cryptocurrency trades between buyers and sellers. Investors can use a crypto exchange like Coinbase to trade one crypto for another, for instance, Sell Tether for Bitcoin. Alternatively, the cryptocurrency trading platform can also be used to convert USDT back to fiat currencies like the US Dollar.

The platform charges fees in exchange for this service. One primary reason investors should use crypto exchanges to sell USDT is the ease of use. These platforms are often beginner-friendly and quite simple to set up. The best crypto exchange offers Tether investors a seamless process of buying and selling USDT stress-free.

Cryptocurrency ATM

A crypto-automated teller machine (ATM) differs from traditional ATMs linked to banks. A crypto ATM is an internet-enabled kiosk where crypto users can buy and sell cryptocurrencies with deposited cash. These ATMs are miniature crypto exchanges that facilitate instant buy and sell orders.

The average ATM has a cash dispenser, a scanner, and a computer that handles digital transactions. Some crypto ATMs work both ways—investors can buy USDT or receive cash in exchange for Tether.

In exchange for these services, the ATM charges a fee of about 15% for facilitating the transaction. While the fee might be incredibly high, there are a few reasons why you should use crypto ATMs to sell USDT. The first is that they provide instant sales. Crypto ATMs typically process USDT transactions within three minutes or less. There are no downtimes or shutdowns that are frequent on exchanges in congested periods.

Furthermore, selling USDT for cash via a crypto ATM adds more privacy to transactions. In addition, when using a crypto ATM, the transactions are always secure. Bitcoin ATMs are entirely non-custodial — meaning the investor always has complete ownership of their coins. These machines also don't require much KYC to initiate a transaction besides a name and phone number. This protects the investor in the unlikely event the ATM is ever hacked or compromised.

Related: What does KYC mean in crypto?

Is It Profitable to Sell Tether (USDT)?

The short answer is no. USDT is designed to be equal to the US dollar and not an investment asset. This means the price of USDT remains stable with the $1 price peg. The idea behind this is to maintain a stable value so that traditional investors can hedge their bets against the volatile nature of cryptocurrencies.

However, some situations or events allow holders of the stablecoin to profit, but this is broadly based on a user's region or situation at a given time. For instance, the growing inflation figures due to the global pandemic have caused several fiat currencies to lose their purchasing power. In some countries, citizens turn to Tether to hedge against their nation's fiat currency.

There Are Fees To Sell USDT

There are usually fees attached to selling USDT tokens. However, this largely depends on the platform selected for making the trade. For instance, using the Coinbase platform comes with a fee that ranges from 0.4% to 0.6%, plus a flat fee of $2.99 per trade. Binance is cheaper and charges about 0.1% and could go lower for traders using the Binance Coin (BNB) as a settlement for their trades.

When utilizing P2P platforms, they come with various payment methods and costs. The Binance P2P platform, by far the most popular, has a zero-fee policy on all P2P trades. There are lots of upsides for investors who use the platform. Other good peer-to-peer platforms like Paxful offer a larger inventory of assets that can be traded on their platform. However, their charges for selling USDT range between 0.1% to 5%. There's also a 1% service fee for processing withdrawals from the exchange.

Users also need to pay a processing fee when using a crypto ATM. This is in addition to the network fee required for network validation. This fee is not credited to the operators of the ATM. Instead, it's given to the network's validators tasked with verifying and securing the blockchain.

Given that USDT is used in several blockchain networks, investors should take note of the USDT network in use before initiating the transaction on a crypto ATM. For instance, a USDT transaction sent on the Ethereum network could be more expensive than sending over Solana, Tron, or Avalanche. This is due to the high gas fee system operating on the Ethereum network. So users should monitor the current gas fee before initiating a sell order on an Ethereum-backed asset.

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