How to Sell Crypto on Binance App

Selling cryptocurrency on the Binance app is a straightforward process, but it requires some basic knowledge to navigate efficiently. This guide will walk you through the necessary steps, ensuring you understand each part of the process to make your transaction as smooth as possible.

Step 1: Open the Binance App
First, you need to open the Binance app on your smartphone. If you haven’t already downloaded it, you can find it in the App Store for iOS devices or the Google Play Store for Android devices. Once installed, log in to your Binance account. If you don’t have an account, you’ll need to create one and complete the necessary KYC (Know Your Customer) verification process.

Step 2: Deposit Your Cryptocurrency
Before selling your crypto, ensure that the cryptocurrency you wish to sell is deposited into your Binance account. If you need to deposit funds, follow these steps:

• Tap on the “Wallet” icon at the bottom of the app screen.
• Select “Deposit” and choose the cryptocurrency you want to deposit.
• Follow the instructions to generate a deposit address and transfer the crypto from your external wallet or exchange to this address.

Step 3: Navigate to the Trading Section
Once your cryptocurrency is in your Binance account, you need to navigate to the trading section:

• Tap on the “Trade” icon at the bottom of the app screen.
• Choose “Spot” trading if you want to trade instantly at the current market price, or select “Advanced” if you prefer more control over your trade.

Step 4: Select the Cryptocurrency Pair
In the trading section, you’ll need to choose the correct trading pair:

• Tap on the search bar at the top of the trading screen.
• Enter the name of the cryptocurrency you want to sell (e.g., BTC, ETH) and select the appropriate trading pair (e.g., BTC/USDT, ETH/USDT).

Step 5: Choose the Selling Method
You have several options for selling your cryptocurrency:

• Market Order: This method sells your crypto at the current market price. It’s the simplest and fastest way to sell. To use this method:
  • Tap on “Market” under the order type.
  • Enter the amount of cryptocurrency you wish to sell.
  • Tap on “Sell” to complete the transaction.
• Limit Order: This method allows you to set a specific price at which you want to sell your crypto. It may take longer to execute if the market price doesn’t reach your set price. To use this method:
  • Tap on “Limit” under the order type.
  • Enter the price at which you want to sell and the amount of cryptocurrency.
  • Tap on “Sell” to place the order.
• Stop-Limit Order: This method lets you set a stop price to trigger a limit order. It’s useful if you want to sell your crypto only if it drops to a certain price. To use this method:
  • Tap on “Stop-Limit” under the order type.
  • Enter the stop price and limit price, as well as the amount of cryptocurrency you wish to sell.
  • Tap on “Sell” to place the order.

Step 6: Review and Confirm Your Order
After choosing your selling method and entering the necessary details, review your order to ensure everything is correct. Confirm the order to complete the transaction.

Step 7: Check Your Order Status
You can monitor the status of your order in the “Open Orders” section under the “Orders” tab. Here you can see if your market order has been completed or if your limit/stop-limit orders are still pending.

Step 8: Withdraw Your Funds
Once your crypto has been sold, you may want to withdraw the proceeds to your bank account or another wallet:

• Tap on the “Wallet” icon at the bottom of the app screen.
• Select “Withdraw” and choose the currency you want to withdraw (e.g., fiat currency or stablecoin).
• Follow the instructions to enter your bank details or wallet address and complete the withdrawal process.

Additional Tips

• Security: Always enable two-factor authentication (2FA) to secure your account.
• Fees: Be aware of transaction fees associated with trading and withdrawing funds. Binance usually provides information about fees on their website and app.
• Market Trends: Keep an eye on market trends and news that could affect the value of your cryptocurrency.

By following these steps, you can efficiently sell cryptocurrency on the Binance app. Make sure to stay updated with any changes in the app’s interface or procedures, as cryptocurrency exchanges frequently update their platforms.