How to sell Tether on Binance exchange

Key Points:

• Log in to your Binance account and navigate to the "Markets" page.
• Select the USDT/BUSD pair and click on the "Sell" tab.
• Enter the amount of USDT you wish to sell and select the desired order type.
• Review and confirm the order details.
• Your USDT will be sold and the proceeds will be deposited into your BUSD wallet.

Steps to Sell Tether on Binance Exchange:

1. Log In to Binance Account: Access your Binance account by entering your username and password. If you do not have an account, you will need to create one before proceeding.
2. Navigate to "Markets" Page: Once you are logged in, click on the "Markets" link located at the top of the page. This will take you to a page displaying a list of available trading pairs.
3. Select USDT/BUSD Pair: Scroll down the list of trading pairs until you find the USDT/BUSD pair. Click on this pair to open the trading interface.
4. Click on "Sell" Tab: The trading interface will have two tabs, "Buy" and "Sell." Click on the "Sell" tab to proceed with selling your USDT.
5. Enter USDT Amount: In the "Amount" field, enter the amount of USDT you wish to sell. You can either enter the amount manually or use the percentage buttons to select a specific portion of your USDT balance.
6. Select Order Type: Binance offers several different order types. For beginners, it is recommended to use the "Market" order type, which places an order to sell your USDT at the current market price. Alternatively, you can select the "Limit" order type, which allows you to set a specific price at which you want to sell your USDT.
7. Review and Confirm Order: Once you have entered the desired amount and selected the order type, review the order details carefully. Ensure that all the information is correct, including the amount of USDT being sold, the price, and the fees. Click on the "Sell USDT" button to place the order.
8. Order Execution: Binance will now attempt to match your sell order with a buy order at the specified price. If there is insufficient demand at the desired price, your order may take some time to fill. Once your order is filled, the USDT will be sold, and the proceeds will be deposited into your BUSD wallet.

FAQs:

Q: Do I need a verified Binance account to sell Tether?

A: No, you do not need a verified Binance account to sell Tether. However, you will need a verified account if you wish to withdraw funds from Binance.

Q: What are the fees associated with selling Tether on Binance?

A: Binance charges a trading fee of 0.1% for both makers and takers on the USDT/BUSD pair.

Q: How long will it take for my Tether to be sold?

A: The time it takes to sell your Tether will depend on market conditions. If there is sufficient demand at the desired price, your order should fill quickly. However, if there is insufficient demand, your order may take some time to fill.

Q: Can I cancel an order if I change my mind?

A: Yes, you can cancel an order before it has been filled. To cancel an order, click on the "Orders" link at the top of the page, then click on the "Cancel" button next to the order you wish to cancel.

Q: What is the minimum amount of Tether I can sell on Binance?

A: The minimum amount of Tether you can sell on Binance is 10 USDT.