If you want to cash out your bitcoins in an easy way, we recommend you to use the Binance P2P platform to meet for cash transactions.

Most people trade cryptocurrencies online, but some users prefer to cash out their tokens through offline channels. This article will cover the most common methods of Bitcoin cashing out, including Bitcoin ATMs as well as peer-to -peer (P2P) marketplaces. You will also learn how to cash out on a safe and affordable platform like Binance P2P.

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What are the ways to cash in?

Before learning about the various methods, make sure you have bitcoins in your wallet. Newbies can read Binance’s Bitcoin buying guide. If you already own Bitcoin, consider other options such as the Binance Crypto Credit Card before exchanging it for fiat.

Bitcoin ATM

At first glance, a Bitcoin ATM looks like a traditional teller machine. Whereas traditional ATMs read your bank account, Bitcoin ATMs facilitate transactions on the Bitcoin network.

With most Bitcoin ATMs, you need to scan your wallet QR code before selling your Bitcoins for cash. Some ATMs will also check your identification information before proceeding with cryptocurrency transactions.

While Bitcoin ATMs may sound convenient, they often require higher transaction fees than other methods of cashing out. If you want to save money, you might as well sell bitcoins on a peer-to-peer marketplace.

Peer-to-peer (P2P) marketplace

In the P2P market, buyers and sellers can trade directly without resorting to the matching engine of the spot market.

Users can post advertisements for purchase or sale, indicating the desired local currency and payment method, and if cashing out, indicate the face-to-face cash transaction. The P2P marketplace is similar to eBay, except that instead of second-hand goods, cryptocurrencies are traded.

If you are interested in P2P trading, you can try trading with experienced cryptocurrency merchants on Binance P2P. From October 2020, Binance will support users who wish to buy and sell cryptocurrencies through face-to-face cash exchanges.

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How to Trade Crypto Cash on Binance P2P

Binance P2P is a global trading platform that supports more than 180 countries with no transaction fees. Users can contact certified merchants and complete the transaction in just three simple steps.

Please note: While every Binance P2P merchant goes through a rigorous approval process, P2P traders should still follow basic security guidelines for cash transactions. Be sure to bring a trusted friend and meet your counterparty in a safe public place during the day and make sure the correct amount has been paid or received before the funds are released.

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How to Buy Crypto on Binance P2P with Cash

Step 1: Filter Home Orders

Click [Buy Coins] on the P2P homepage, select Bitcoin, and then change the filter condition of the homepage order to [Meet Cash Transaction].

Step 2: Find a seller

Search for bitcoin sell orders that match your psychological price. If you are using P2P for the first time, it is recommended that you choose a Binance P2P certified merchant. Such businesses have a yellow badge next to their name.

Step 3: Meet offline to complete the transaction

Using the Binance P2P messaging software, agree with the seller on a time and place to meet. When meeting offline, be sure to pay in full before the seller transfers the crypto funds to your account.

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How to Sell Crypto on Binance P2P with Cash

Step 1: Filter Home Orders

Click [Sell Coins] on the P2P homepage, select Bitcoin, and then change the filter condition of the homepage order to [Meet Cash Transaction].

Step 2: Find a Buyer

Search for ads that match your psychological price point. If you are using P2P for the first time, it is recommended that you choose a Binance P2P certified merchant. Such businesses have a yellow badge next to their name.

Step 3: Meet offline to complete the transaction

Using the Binance P2P messaging software, agree with the seller on a time and place to meet. When meeting offline, do not release crypto funds until full payment has been received.

Start using Binance P2P

Using Binance P2P

Before buying and selling cryptocurrencies on Binance P2P, you need to create a Binance account and verify your identity. If you are an experienced cryptocurrency seller, welcome to join the Binance P2P Merchant Program. Enjoy exclusive benefits of the Merchant Program, including advanced advertising tools, a certified badge next to your username, and 24/7 one-on-one customer support.

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