Selling cryptocurrency for CNY on Binance is primarily done through P2P trading. Make sure you've registered on Binance and completed identity verification. Download the Binance APP for a more convenient selling experience on your phone.
Preparation Before Selling
- Ensure KYC verification is complete
- Add a payment method (bank card, Alipay, etc.) in P2P trading settings
- Transfer the crypto you want to sell from your Spot account to your Funding account
Selling Process
- Open the Binance APP and select "Sell" then "P2P Trading"
- Choose the crypto to sell (USDT is recommended for the best liquidity)
- Filter for suitable buyers by payment method
- Enter the amount you want to sell
- Confirm the order details and tap "Sell"
- Wait for the buyer to make payment
- Confirm the payment has arrived in your banking app
- Return to Binance and tap "Confirm Release"
Important Notes When Selling
- Always confirm actual receipt of funds in your banking app before releasing crypto
- Don't rely solely on transfer screenshots -- verify the balance change in your bank account
- Choose verified merchants as buyers whenever possible
- For large amounts, consider splitting into multiple transactions