How to Sell USDT on Binance P2P with GCash Withdrawal – A Step-by-Step Guide

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Selling USDT on Binance via P2P trading and withdrawing funds to GCash is a seamless process when you know the right steps. This guide walks you through each phase of the transaction, ensuring a smooth, secure, and efficient conversion of your cryptocurrency into Philippine pesos. Whether you're new to crypto or an experienced trader, this tutorial simplifies the entire flow—from launching the app to receiving funds in your GCash wallet.

Understanding Binance P2P Trading

Binance Peer-to-Peer (P2P) trading allows users to directly buy and sell cryptocurrencies like USDT (Tether) using fiat payment methods. Unlike traditional exchange trading, P2P connects buyers and sellers directly, offering flexibility in payment options—including GCash, one of the most popular mobile wallets in the Philippines.

The platform acts as an escrow service, ensuring both parties fulfill their obligations before releasing funds. This system enhances trust and security, making it ideal for local transactions where speed and convenience matter.

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Step-by-Step Guide to Selling USDT on Binance P2P

Step 1: Open the Binance App

Start by launching the Binance mobile application on your smartphone. Ensure you’re logged into your verified account. If you haven’t completed identity verification (KYC), do so beforehand, as it’s required for P2P transactions.

Step 2: Navigate to the P2P Trading Section

Once inside the app, tap on “Trades” located at the bottom center of the screen. From the menu that appears, select “P2P” in the top right corner. This will take you to the Binance P2P marketplace.

Step 3: Choose the “Sell” Option

In the P2P interface, you’ll see two primary options: “Buy” and “Sell”. Tap on “Sell”, as your goal is to exchange USDT for PHP (Philippine pesos).

Next, select USDT as the cryptocurrency you wish to sell. The platform will display available buyer offers that match your selected currency and preferred payment method.

Step 4: Set Amount and Payment Method

Enter the amount of USDT you’d like to sell. As you input the value, Binance will automatically calculate the equivalent PHP amount based on current market rates.

Under the “Set a Payment Method” section, choose GCash from the list of supported options. Selecting GCash ensures that once the transaction is confirmed, the buyer will send the peso equivalent directly to your GCash account.

Ensure your GCash details—especially your registered mobile number—are correctly entered and verified within your Binance profile to avoid delays.

Step 5: Confirm and Complete the Transaction

After setting your amount and payment method, review all details carefully. Then, click “Sell USDT” to proceed.

You’ll be prompted to confirm the order. Once confirmed, Binance locks the USDT in escrow. The buyer then has a set time (usually 15–30 minutes) to complete the bank transfer or GCash payment.

After you receive the payment in your GCash account, log back into Binance and mark the transaction as “Received Payment”. Only then will Binance release the USDT to the buyer.

⚠️ Never confirm receipt unless the funds are visibly in your GCash wallet. Confirming prematurely can lead to loss of assets.

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Why Use GCash for Crypto Withdrawals?

GCash has become a go-to financial tool for Filipinos due to its ease of use, widespread acceptance, and integration with online services. When paired with Binance P2P, it enables fast fiat withdrawals without needing a traditional bank account.

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Frequently Asked Questions (FAQ)

Can I sell USDT on Binance without verification?

No. To engage in P2P trading, you must complete Binance’s identity verification process (KYC). This requirement helps prevent fraud and complies with global regulatory standards.

Is it safe to sell USDT for GCash payments?

Yes, as long as you follow Binance’s escrow procedures and only confirm receipt after verifying the funds in your GCash account. Avoid off-platform communication or requests to release funds early.

How long does a P2P transaction take?

Most transactions are completed within 15–30 minutes, depending on how quickly the buyer sends payment and you confirm receipt. Delays usually occur if either party is unresponsive.

Are there fees for selling USDT on Binance P2P?

Binance does not charge fees for P2P trades. However, sellers should consider price spreads and potential network fees if transferring USDT to their Binance wallet beforehand.

What should I do if a buyer doesn’t pay?

If a buyer fails to make payment within the allotted time, the trade will automatically cancel, and your USDT will be returned. You can also file a dispute through Binance’s support system if needed.

Can I use GCash as a payment method for other cryptocurrencies?

Yes. While USDT is the most commonly traded stablecoin on Binance P2P with GCash, some buyers also accept BTC, ETH, or BUSD using GCash. Availability depends on active buyer offers.

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Final Tips for a Smooth Experience

By following this guide, you can confidently sell USDT on Binance P2P and enjoy quick access to cash via GCash—perfect for everyday spending, remittances, or emergency needs.

Whether you're cashing out small amounts regularly or handling larger transfers, mastering this process empowers you to make the most of your digital assets in a real-world context.