How to Sell USDT for Naira on Binance 2024 (Convert Method)

Have you been riding the Tether (USDT) wave and are now looking to convert your holdings into Nigerian Naira (NGN)? Look no further! Binance, a leading cryptocurrency exchange, offers convenient methods to sell your USDT for Naira: the Convert function trading platform. This guide will walk you through the method step-by-step, ensuring a smooth and secure transaction.

Selling USDT for Naira on Binance (Convert Method)

This method is ideal for beginners or those who want a quick and straightforward way to sell their USDT.

Step 1: Log in to Your Binance Account

If you don’t already have a Binance account, you’ll need to create one before you can begin trading. The signup process is quick and easy.

Step 2: Navigate to the USDT/NGN Trading Pair

On the Binance homepage, locate the “Trade” section and select “Convert” from the dropdown menu. Choose the USDT/NGN trading pair. This will bring you to the dedicated page for selling USDT for Naira.

Step 3: Place a Sell Order

Market Order vs. Limit Order

Here, you’ll see two options for placing your sell order: Market Order and Limit Order. A Market Order allows you to sell your USDT at the current market price, ensuring a fast execution. A Limit Order lets you specify a desired selling price. This can be useful if you’re looking for a specific exchange rate.

Step 4: Review and Confirm

Carefully review the order details, including the amount of USDT you’re selling, the estimated Naira you’ll receive, and any applicable fees. Once you’re satisfied, confirm the order.

Step 5: Withdraw Naira to Your Bank Account

After your order is complete, the Naira equivalent will be deposited into your Binance wallet. You can then withdraw these funds to your linked bank account.

Step 6: Verify Withdrawal

Binance will likely prompt you to verify the withdrawal request. Follow the on-screen instructions to complete the process.

Conclusion

Selling your USDT for Naira on Binance is a straightforward process. Binance provides a secure and user-friendly environment for your transactions. Remember to carefully consider factors like fees, payment methods, and security before initiating a trade.