How to Sell USDT to Naira on Binance

Introduction
Selling USDT (Tether) for Naira on Binance is a straightforward process, but it requires some understanding of the platform and the steps involved. This guide will walk you through each stage of the process, ensuring that you can convert your USDT to Naira efficiently and securely.

Step 1: Registering on Binance
Before you can sell USDT for Naira, you need to have a registered account on Binance. If you haven’t already created one, go to Binance’s official website and sign up. You will need to provide an email address, create a secure password, and verify your identity through a KYC (Know Your Customer) process.

Step 2: Depositing USDT into Your Binance Wallet
Once your account is set up, the next step is to deposit your USDT into your Binance wallet. To do this:

1. Log in to your Binance account.
2. Navigate to the “Wallet” section at the top of the page.
3. Select “Fiat and Spot” from the dropdown menu.
4. Search for USDT in the list of available cryptocurrencies and click on “Deposit.”
5. Copy the deposit address provided and transfer your USDT from your external wallet or exchange.

Ensure that you double-check the deposit address and the network (ERC-20, TRC-20, etc.) to avoid any loss of funds.

Step 3: Accessing the P2P Trading Platform
After your USDT has been successfully deposited into your Binance wallet, the next step is to access the P2P (Peer-to-Peer) trading platform where you can sell USDT directly for Naira. To do this:

1. From the Binance homepage, click on “Trade” and select “P2P” from the dropdown menu.
2. Once on the P2P trading platform, select the “Sell” option.
3. Choose USDT from the list of available cryptocurrencies.

Step 4: Setting Up Your Sell Order
On the P2P platform, you will see a list of buyers who are willing to purchase USDT for Naira. You can either select one of the available offers or create your own sell order. Here’s how:

• Selecting an Existing Offer:

  • Browse through the list of buyers, considering their offer price, payment method, and trading limits.
  • Once you find a suitable offer, click on “Sell USDT.”
  • Enter the amount of USDT you wish to sell and confirm the transaction.
  • Wait for the buyer to make the payment.

• Creating a Custom Sell Order:

  • Click on “Post New Ad” at the top right of the P2P platform.
  • Select “Sell” and choose USDT as the cryptocurrency.
  • Set your preferred price, payment method (bank transfer is commonly used in Nigeria), and trading limits.
  • Post the ad and wait for buyers to respond to your offer.

Step 5: Completing the Transaction
Once you have set up your sell order and a buyer has agreed to purchase your USDT, you need to complete the transaction:

1. Wait for the buyer to make the payment to your specified bank account.
2. Once you receive the payment, confirm receipt on Binance.
3. The USDT will be released from escrow to the buyer, completing the transaction.

Security Tips:

• Always confirm payment: Never release USDT without first confirming that you have received the payment in your bank account.
• Check buyer’s reputation: On the P2P platform, buyers and sellers have a reputation score based on previous transactions. Aim to trade with buyers who have a high score to minimize risk.
• Enable 2FA: For additional security, ensure that Two-Factor Authentication (2FA) is enabled on your Binance account.

Conclusion
Selling USDT for Naira on Binance’s P2P platform is a secure and convenient way to convert your cryptocurrency into local currency. By following the steps outlined above, you can complete your transactions confidently, ensuring that your funds are safe throughout the process.