BNB to USDT is one of the most traded crypto pairs in the world.
This is due to the enormous transactions it is used for.
With binance having a major trading volume of cryptocurrencies, this trading pair trades in millions of dollars daily.
BNB has a large liquidity in which you can convert it to USDT easily.
With the USDT, you can do a lot of other things like withdrawing it to fiat.
This can be done through bank transfer.
Most people prefer to use the P2P method to withdraw to fiat.
In this guide, you will learn how to exchange BNB to USDT.
Two of the methods we are going to use for this include
1) Trading BNB for USDT on the spot wallet
2) Using Binance Convert To Exchange BNB To USDT
Requirements To Exchange BNB To USDT On Binance
Before you can make this conversion a success, there are some requirements you must fulfill.
Some of these requirements include;
1) Have Adequate BNB In Your Binance Account
Depending on the amount of USDT you want to get from the exchange of your BNB, make sure your account is sufficient.
If the balance that you have is not sufficient, make sure that you top up your balance.
If not, your transaction will be unsuccessful.
2) Have The BNB Funds In Your Spot Wallet
The spot wallet balance is what is going to be used.
This applies if you are using the binance spot market for this exchange.
It also applies if you are using the binance convert for this conversion process.
So if the funds are not in the spot wallet, make sure that you send the BNB funds to the spot wallet.
How To Convert BNB To USDT With Binance Spot Market
To exchange your crypto like BNB to a stable coin like USDT, spot trading is usually what most people use.
But to be able to make use of the spot trading well, you should be knowledgeable about the different order types.
This will determine how fast your transactions will be.
So follow the steps below to easily complete the process.
Step 1: Log in To Binance
To start this process, you have to sign in to your binance account.
This can be done with the log in credentials of your binance account.
This will give you access to initiate any action with your binance account.
Step 2: Select Markets On The Binance Menu
After you have signed in to your binance account, the next action is to head to the market section.
This will grant you access to the trading pair you will be using.
So click on markets.
Step 3: Select BNB/USDT Pair
Due to the cryptocurrency we have to sell, we will be careful on what pair to choose.
Know that we are selling BNB for USDT.
To make this possible, choose the BNB/USDT pair in the market section.
To make this faster, type BNB into the search box and then choose the BNB/USDT pair.
Step 4: Select Sell
Here, you have to be careful with what you choose.
We have the buy and sell option.
What you choose depends on what you have and what you want to buy or sell.
We have BNB and want to buy USDT.
That means that we will sell BNB to buy USDT.
So select the sell button.
Step 4: Choose Market Order
How fast you want to sell your crypto will determine the type of market order you choose.
Since we want to make our transaction as quick as possible, we will choose the market order.
This will automatically complete our transaction from BNB to USDT immediately we sell.
This avoids the delay caused by price fluctuations if we choose a market order like limit order.
Step 5: Input Amount Of BNB You Want To Sell To USDT
The quantity of USDT that you need will determine the amount of BNB you will sell.
So to proceed, input the amount of BNB you want to sell.
This will show the amount of USDT that you will receive.
If the amount of USDT to receive is too small, then increase the amount of BNB you want to sell.
If the amount of USDT to receive is too large, reduce the amount of BNB to sell till you are ok with the USDT quantity you will receive.
Step 6: Click On Sell BNB
If you are satisfied with the amount of USDT that you will receive after inputting the amount of BNB to sell, then proceed.
To proceed, you need to sell your BNB to USDT.
This is concluded by clicking the sell button.
Immediately you click the sell button, the trade will automatically complete without delay.
The funds will reflect immediately in your spot wallet.
How To Convert BNB To USDT With Binance Convert
Apart from the spot trading method, you can still exchange your BNB for USDT on binance with another method.
This other method is with the use of binance convert.
With this method, you do not need to stress yourself with any type of order.
It is very easy to make use of and adopted by a lot of beginners in cryptocurrency using binance.
A complete guide on binance convert crypto will help if you do not know how it really works.
To use this step, just follow the steps below.
Step 1: Sign In To Binance
To be able to make progress, make sure that you sigh in first.
This can be done with the use of your binance account credentials.
This is with the use of your email address and password linked to your account.
Step 2: Click On Trades
After you have had access to your binance account, click on trades.
This will lead you to a lot of methods you can use to exchange your cryptocurrency.
With this, all the trade options available will come out so click on trades button.
Step 3: Click On Convert
Now that you are in the trades section, you will have access to a lot of trading methods.
Our concern is with cryptocurrency convert.
So click on the convert button.
Step 4: Select Crypto You Want To Convert From And Crypto You Want To Convert To
Here, you will be selecting the cryptocurrency to use.
The first is to select the crypto you want to convert from.
Here you will be selecting BNB as we are converting from BNB.
Secondly, you have to choose the cryptocurrency you want to convert to.
Here, you will choose USDT.
This is because we are converting BNB to USDT.
Step 5: Select Amount Of Crypto To Convert From
After you have finished selecting crypto to convert from and crypto to convert to, select the amount you want to convert.
This amount will be selected with respect to the crypto that you want to convert from.
But before you select this amount, make sure that that it falls within the limits that is allowed.
In the case of this conversion, the limit is between 0.04 BNB to 3000 BNB.
This simply means that the least BNB you can convert is 0.04 BNB.
Also, the highest amount of BNB you can convert is 3000 BNB with respect to the limits given.
Step 6: Preview Conversion
After you are done selecting the amount you want to convert from, preview the conversion.
This can be done by clicking the preview conversion button.
With this, you will see the amount of USDT that you will receive.
From the amount of BNB that was selected for conversion, it was 0.05 BNB that was chosen.
This makes the price of USDT that we will receive to be $18.3612.
This is calculated at a price of $367.225 per BNB crypto coin.
If the amount of USDT to receive is too small, return and increase the amount to convert from.
Do this until you are satisfied with the amount of USDT you will receive.
Why Convert BNB To USDT
There are so many reasons why people exchange their cryptocurrencies to stable coins.
One of the most widely used stable coin is the USDT.
Some of the reasons why people exchange their BNB to stable coins include;
1) To Avoid Loss In Bearish Seasons
Anybody that is really into cryptocurrency will know that crypto has a popular word that follows it.
That word is no other but volatility.
With the use of cryptocurrency, the prices of digital assets is never stable.
Except with stable coins.
This makes some people run into loss when the market moves in a negative direction.
This includes cryptocurrencies like BNB.
But with the use of stable coins like USDT, you can avoid facing any loss by selling your BNB to USDT when the market is bearish.
This helps you avoid any loss.
With this, you even make more gain.
This is because you will be able to buy more quantities of BNB as the price goes down.
This puts you in a larger profit ratio when the prices go up again.
2) To Sell BNB To Fiat
At some point, you may have a need to withdraw your cryptocurrencies like BNB to fiat.
At such point, most people prefer to use the peer to peer on binance to make such withdrawals.
Due to this, some people may have large amount of fiat to withdraw.
This will also mean selling your BNB to a crypto that has a large liquidity on the binance p2p market.
The cryptocurrency that has a large volume on the binance p2p is USDT inclusive.
This will help you withdraw large amount of fiat at one trade easily.
Least Amount Of USDT I Can Convert From BNB On Binance
Before you make use of the binance spot market, you must know of the limits that exist.
Also, there are limits too when it comes to the use of the binance convert.
This controls the least amount and maximum amount of USDT you can buy.
For the binance spot trading, the least amount of USDT crypto you can buy is 10 USDT.
This cuts across all cryptocurrency purchase on binance.
You cannot buy or sell any crypto lower that $10 when using the binance spot trading.
If you try to buy or sell any crypto lower than $10, you will receive an error.
Also with the use of the binance convert, there are limits too.
The least amount of BNB you can use when converting BNB to USDT on binance is 0.04 BNB.
What you should know is that this amount is not static.
It changes so always make sure to check your binance convert section to see the latest and current limit.
Where Can I Convert BNB To USDT On Binance
To make this conversion of BNB to a USDT stable coin on binance, you can use any of the binance platforms to do this.
You can make use of the web version of binance.
You can also make use of the mobile app of binance.
This includes the binance android app and the ios app.