To access your BTC funds on Binance, you’ll need to log into your account. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. As of the date this article was written, the author does not own cryptocurrency. The guidelines above will help you navigate the difficult waters of crypto.

You’ll need to have provided personal information so that the exchange can identify you, and sell your crypto to the exchange. The exchange will then forward funds to your exchange account or your bank account. Popular crypto exchanges are always a good bet, as they are reliable and well-known, while online platforms with peer-to-peer selling may allow for flexibility of payment. You can go the convenient route and use a Bitcoin ATM to get fast access to your crypto but at a significantly higher commission. Some exchanges do not allow the conversion or selling of some cryptos to dollars, so you’ll need to take an indirect route to get your cash. Depending on which exchange you use, you may need to transfer or convert your cryptocurrency to another popular currency such as the stablecoin Tether, before finally converting to dollars.

Setting up the Binance stop loss order starts with selecting a cryptocurrency pair that you want to secure. You will find a field dedicated to the Stop order and another to the Limit order. These are effectively the two components of the Binance stop loss order. In order to place a Binance stop loss order, first open a position in the market of the asset in question.

Funding Your Binance UK Account Once your account is set up and verified, you’ll need to fund it with the cryptocurrency you wish to sell. You can do this by transferring the crypto from an external wallet or by purchasing it directly on Binance UK using fiat currency. Ensure that you have the necessary amount of crypto in your Binance UK account before proceeding with the selling process. Our liquid order books enable top speed trade execution, and are built to sustain high-value transactions. The CEX.IO Team carefully monitors the market performance of vetted currency pairs.

Sell Binance Coin (BNB) in more than 80 supported countries using the local currency of your bank account. The crypto market is capricious, and even the most seasoned of investors run into bad episodes. The focus should be consistent and a solid rubric for investment, which can help stem any losses. That said, it’s not the case that the crypto market has strict hard-and-fast rules that will let you sail through smoothly. While this is also true of the stock market, cryptocurrencies are far more heavily influenced by what takes place in the media. With how transparent everything is and the fact that influencers can have a large impact, it’s unsurprising that cryptocurrencies can move up and down by double-digit figures because of headlines.

Follow the on-screen instructions to upload the required documents and complete the verification process. Many traders choose to always set their stop value a little higher than they expect. In the above case, it would be better to specify 30,500 USD as the stop order.

To install these applications, you need to connect your device to a computer or phone and go to the Ledger Live Manager tab. MoonPay offers a simple, fast, and safe checkout to turn your BNB into cash. Every now and then, you’ll see a string of negative news related to a particular project—and the token subsequently tanking. It’s important to keep a finger on the pulse of the market, and this can give you a very strong sense of where a project is going. The following sections cover some situations when you might want to sell the crypto you hold. These are not hard-and-fast rules, and you should do your own research and exercise caution, but they are certainly worth keeping in mind.

This type of order also takes into account market fluctuations that bring the price of an asset below the specified price. With over six million global users, CEX.IO’s community-centric approach to promoting discovery in the digital economy is backed by proven experience. We’ve made maintaining proper licenses and certifications a top priority, and are proud to remain in good standing through subsequent FinCEN audits. Our repeat compliance with Level 1 PCI DSS Security Standards helps ensure ironclad protection of user funds and information. In fact, our rigorous approach to network security extends toward every corner of our product ecosystem.

You can sell your Bitcoin to or on the exchange and receive the funds in your exchange account, which you can then withdraw to your bank account. If you sell your cryptocurrency, however, it’s important to understand that you could be creating a tax liability, so you’ll want to be sure you account for taxes in your decision to sell. And while Coinbase is a popular option to sell cryptocurrency, it’s likely most useful to go with whatever exchange currently holds your coins, if you don’t have custody of the coins yourself. If you’re selling any asset, then you’ll want to understand the tax implications.

how do i sell my bitcoin on binance

From day one, ensuring an exceptional user experience was a pillar of our product goals. All our services strive to provide straightforward navigation presented through a simple, clear structure. Over the years, we’ve continued to refine and further streamline our services to crystalize peak performance. Right now, eligible users can buy, sell, swap, and store crypto in just a few clicks. In the digital asset space, there’s no shortage of potential pathways.

how do i sell my bitcoin on binance

And because all transactions are made using OTC technology, there is no risk involved for users with regard to speed or security. Reviewing the Cryptocurrency’s Liquidity It’s important to consider the liquidity of the cryptocurrency Greatest Crypto Exchanges and Apps you’re selling, as this can impact the ease and speed of the transaction. Highly liquid cryptocurrencies, such as Bitcoin and Ethereum, generally have a larger trading volume and can be sold more quickly and at more favorable prices.

Dear CEO Binance,The Binance app has been a blessing since the day I downloaded it, offering a seamless experience for trading cryptocurrencies. Its user-friendly interface, extensive range of features, and reliable performance have made it my go-to platform for managing my crypto investments. As a user who relied on this currency pair, navigating the transition has been tough. It’s crucial for Binance to ensure continuous support for various fiat currencies to cater to the diverse needs of its global user base. Despite this setback, I appreciate Binance’s commitment to innovation and their efforts to constantly improve the platform.

how do i sell my bitcoin on binance

However, they have gained notoriety to the point of attracting the attention of investors. To benefit from a comprehensive strategy, traders combine a Binance stop loss order with a take profit order. This allows the recovery of gains when the price is in an upward trend. After confirming the sale, your Bitcoin will be placed in escrow until you’ve confirmed payment from the buyer. Once you’ve received the buyer’s payment, you can confirm it on your Binance account, and the escrowed Bitcoin will be sent to them.

Choosing the Cryptocurrency to Sell In the ‘Buy Crypto’ section, you’ll need to select the cryptocurrency you wish to sell. Binance UK supports a diverse range of digital assets, so take the time to review the available options and choose the one that aligns with your investment strategy and financial goals. Remember, it’s always important to conduct your own research, understand the risks involved in cryptocurrency trading, and seek professional financial advice if necessary.