If you’re looking for a quick and convenient way to sell your crypto into cash, Sell-to-Card is the answer.
The crypto and blockchain ecosystem is growing exponentially, especially in the GameFi, SocialFi and NFT space. Leading to a surge in crypto adoption, where more and more people are investing in cryptocurrencies - whether to HODL, play-to-earn, invest on a recurring basis or trade.
In turn, more people are looking to cash out their cryptocurrencies by transferring crypto to fiat money. To make things simpler for our users, Binance has recently launched a new feature - Sell-to-Card, where users can now sell their crypto for fiat currency and directly transfer it to their credit or debit card instantly. Keep on reading to learn more about this new feature and how to use it in 4 easy steps.
What is Sell-to-Card?
Sell-to-Card is our new feature, where you can now easily and instantly sell your cryptocurrencies for fiat currency and the money transferred directly to your VISA credit/debit cards on Binance. We currently only support EUR and GBP currencies. We will be supporting RUB and UAH in Q1 2022.
How Is It Different From Withdrawing To Bank Accounts?
In addition to selling your crypto to fiat currency on a credit/debit card, you can also choose to sell and withdraw your crypto to bank accounts. Find out which suits you best as we outline the differences between the two features.
Selling Crypto to Fiat Currency on Card | Selling and Withdrawing Crypto to Bank Accounts |
Fiat money is transferred directly to your credit/debit card, where you can easily use in your daily life | Fiat money is transferred to your bank account and you will need to withdraw to fiat money to use in your daily life |
Transaction is immediate | Transaction can take up to four business days |
FX conversion rates charged by a third party | FX conversion rates charged by a third party |
For EUR/GBP, there will be a fee of 1.1% | A trading fee will be included when converting crypto to fiat. Selected bank transfers might incur a withdrawal fee |
To learn how to withdraw and transfer your crypto to your bank accounts, check out our support article here.
How To Sell Crypto For Fiat Currency And Directly Transfer To Credit/Debit Card
Cashing out on crypto can’t get any easier with our new Sell-to-Card feature–all it takes are four simple steps.
Step 1: Log in & choose credit/debit card
Complete your KYC and log in to your Binance account. Then choose [Credit/Debit Card] on the homepage of your Binance App. For desktop users, click [Debit/Credit Card] under [Buy Crypto] on the homepage top header.
Step 2: Choose the crypto to sell
Select the crypto you want to sell, your preferred fiat currency and the amount you would like to sell.
Step 3: Select your payment method
Choose the credit/debit card you would like to sell to or add a new card to continue. Once you’ve confirmed your card, click [Confirm] to proceed.
Note: We currently only support VISA credit/debit cards.
Step 4: Confirm your order
Check your payment details and confirm your order within a minute. After one minute, the price and the amount of crypto you will get will be recalculated. To view the latest market price, click [Refresh].
Once you confirm your order details, you are all done. You'll receive a notification from us once your transaction is completed.
Note: We currently support local currencies in EUR and GBP currencies. We will also support RUB and UAH in Q1 2022.
Advantages of Selling Crypto For Fiat Currency On Card
There are many ways why one can convert their cryptocurrency to cash, and Sell-To-Card is one of them. Below we’ve outlined a few key advantages of this new feature.
1. Instant and Convenient
Selling and cashing out crypto can be quite confusing, as there are different channels to consider.
For example, suppose you would like to sell your crypto to fiat money for use in real life. In that case, you have to deposit and transfer the cryptocurrency tokens to another bank account, trade them into available fiat pairs and then withdraw them to your bank account. You may also lose out on additional fees in the process of exchanging the available fiat pairs into your local fiat currency.
However, by selling your crypto to fiat money on card, you can conveniently spend your earnings on your VISA card or withdraw easily without the above hassle.
2. Highest Liquidity
As the leading blockchain and crypto exchange in the world, Binance offers the highest liquidity. This means fast and efficient transactions with more stable prices and fewer fluctuations.
3. Safety First
At Binance, security is our highest priority when it comes to safeguarding your Bitcoin and other cryptocurrencies. We're one of the first cryptocurrency exchanges that set up a Secure Asset Fund for Users (SAFU) to protect their funds in extreme cases. Moreover, none of the personal information you provided will be disclosed.
4. 24/7 Customer Support
We provide 24/7 live chat customer support in 8 languages (English, Chinese, Russian, Spanish, Portuguese, Turkish, Korean, and Vietnamese). Regardless of whether you're a longtime user or just getting started on Binance, we're always here to help.
Conclusion
Regardless of your preference when it comes to selling your crypto for cash, Binance has a seamless and convenient way to buy, sell and trade crypto. With our new Sell-to-Card feature users can directly sell their crypto for fiat money and have them transferred straight to their credit/debit card.
Want to learn more about different types of cryptocurrencies? We recommend reading our helpful guides on stablecoins, DAO crypto tokens, metaverse tokens, web 3.0 coins and more.
Ready to buy cryptocurrencies? Start your crypto adventure with Binance
Start by registering for a Binance.com account or download the Binance crypto trading app. Next, verify your account. Once you’ve verified your account, there are three main ways to buy cryptocurrencies on Binance using cash: you can buy crypto with cash from Binance via bank transfer, card channels or e-wallets options.
Buy BUSD, BNB and cryptocurrencies with a Debit Card, Credit Card, or via Bank Transfer
Linking your debit card, credit card, or bank account (available in many regions) is one of the easiest ways to buy Bitcoin and more than 100+ cryptocurrencies.
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