How to Exchange USDT for FIAT USING BINANCE || 10% to steemkidss

designed using canva

Hello friends,

I hope everyone is doing great. Well, from the outline of activities or things to post from the update by @steemkidss, today is for crypto. We are expected to write things relating to crypto, things that will help our kids increase their knowledge in crypto.

Today I will be sharing how to sell our USDT to get FIAT(cash) using the Binance app.

Before I explain further, lemme explain some things to help us understand this process.

Binance is an exchange application that helps us sell, hold , buy as well as perform technical analysis with the use of technical indicators. We get to see thousands of assets that are on the application.

FIAT is when we liquidate our asset to get cash. I.e we can sell steem to get cash in our local currency.

Let’s go into the process property. Note that one needs a verified Binance application to be able to sell , or buy assets. In our country Nigeria, our Government has restricted the direct selling or buying of crypto asset direct from our Local Banks, as such we use Peer to Peer method to perform this transaction.

• First, I login to my verified Binance application by inputting my email address and password.

• I verify security by fixing the object in the box

• The next process, a code will be sent to your mobile number to verify if it is the original owner of the account. Input the code and continue your process.

• The home page will appear, then click on wallet.
  

  
  

• click on Transfer on the top right corner

• The box below will appear next. You have to input the necessary details. Change cross margin to Funding. We are converting USDT in this case, we have to change BTC to USDT, after that, we input the amount of USDT we want.

• see the changes below, then click confirm.

• Once the asset is transferred to funding, go back to the home page and click on P2P trading

• click on sell, and the asset you want, in this case USDT.

• scroll through to find the limit that suits your amount and then click on sell.

• select FIAT, input the quantity of USDT you wish to sell, ensure your correct bank details are provided, and then click sell.

• After the process above, your order will be placed. The buyer will chat you up for his conditions, which when accepted, he will proceed in sending cash to your local Bank account number which u placed.

• once you have confirmed receiving cash, you are expected to release the crypto, and inputing your security code sent to your mobile number.

The process of converting an asset through peer to peer is quite simple, yet one has to be careful so as not to lose cash. Ensure you have received the agreed amount between you and the buyer before releasing your asset to avoid been scammed.

all screenshots above are from my Binance app

I hope you find this post informative and interesting.

Thank you for visiting my post😘

@ngoenyi
@steemkidss
@ijelady