Many people make money on Binance and want to withdraw it to their bank cards, only to find that Binance does not support direct withdrawals of RMB to bank accounts. This is because current cryptocurrency policies in mainland China restrict exchanges from directly interfacing with the banking system. But don't worry, Binance offers a C2C (peer-to-peer trading) feature, allowing you to sell your cryptocurrency to other users. The buyer directly transfers RMB to you via Alipay, WeChat, or a bank card. The entire process works like a secure escrow trading platform helping you complete the exchange of cryptocurrency to fiat. Before operating, you need to ensure you have registered an account on the Binance official website and completed advanced identity verification. Install the latest version of the Binance official APP on your phone for the best operating experience. If Apple phone users encounter installation difficulties, you can check the iOS installation guide to get detailed installation methods. Below, I will explain in detail the complete process of withdrawing from Binance to a bank card.
Preparations Before Withdrawing
Complete Advanced Identity Verification (KYC)
C2C trading requires users to complete KYC verification. If you only have basic verification (Level 1), you need to upgrade to advanced verification (Level 2). Go to the "Identity Verification" page in the APP and follow the prompts to submit supplementary materials. Advanced verification usually requires uploading photos of the front and back of your ID card, performing facial recognition, and sometimes providing proof of address. The review is generally completed within a few hours, though occasionally it may take one or two business days.
Bind Payment Methods
In a C2C trade, the buyer needs to transfer RMB to you, so you must bind your receiving methods in advance. Go to the "C2C" -> "More" -> "Payment Methods" page in the APP, where you can add:
- Bank Card: Bind a bank card under your name; it must be a card registered with your real name.
- Alipay: Bind your Alipay account.
- WeChat Pay: Bind your WeChat receiving account.
It is recommended to bind at least two payment methods, as different buyers prefer different payment methods. Bank cards are the most universal choice, and bank cards are recommended for large transactions. Note that the receiving account must match the real-name information of your Binance account, otherwise it may lead to trade disputes.
Ensure You Have USDT Balance
USDT is the most commonly used coin for C2C selling. If you hold Bitcoin, Ethereum, or other coins, it is recommended to first convert them to USDT in the Spot market, and then sell them via C2C. The reason is that USDT has the largest C2C order volume, the most buyers, and the price is closest to the market rate. Of course, you can also sell BTC and other coins directly, but you may have to wait longer for the order to be filled.
If your assets are in a Futures account or Earn account, you must first transfer them to the Spot or Funding account to use them for C2C selling. Use the "Transfer" function on the "Wallets" page; internal transfers do not incur fees.
Detailed Steps for C2C Selling
Step 1: Enter the C2C Trading Page
Open the Binance APP and click the "P2P Trading" (C2C) shortcut on the homepage, or go from the bottom menu "Trade" -> "P2P". If it's your first time using C2C, the system may pop up some agreements and risk warnings; read them and confirm.
Step 2: Select Sell
After entering the C2C page, there are "Buy" and "Sell" tabs at the top; click "Sell". Select the coin you want to sell (usually USDT), and then select the fiat currency as CNY (RMB).
Step 3: Choose an Advertiser (Merchant)
The page will display ads from multiple buyers, and each ad will list the following information:
- Price: The RMB price the buyer is willing to pay (how many Yuan per USDT).
- Quantity / Limit: The total amount the buyer wants to buy and the minimum/maximum limit per transaction.
- Completion Rate / Trades: The buyer's historical trading data.
- Payment Method: The payment methods supported by the buyer (Alipay, WeChat, Bank Card, etc.).
When selecting an ad, keep the following in mind: prioritize buyers with a completion rate higher than 95% and a large volume of historical trades; these are experienced veteran merchants and transactions with them are more reliable. Pay close attention to the price—although the difference is usually small, a 0.01 RMB difference per USDT means a 10 RMB difference when selling 1000 USDT. Ensure the buyer supports the payment method you want to use.
Step 4: Enter the Sell Amount
Click the "Sell" button on the ad you selected. On the pop-up page, enter the quantity of USDT you want to sell, or enter the RMB amount you wish to receive. The system will automatically calculate the corresponding quantity. Be careful not to go below the ad's minimum limit or exceed the maximum limit. Once you confirm the amount is correct, click "Sell USDT".
Step 5: Wait for Buyer Payment
After the order is created, your USDT will be temporarily frozen by the system (locked in escrow). At this time, the buyer will see your receiving information, and they need to transfer RMB to you within the specified time (usually 15-30 minutes). All you need to do is wait.
While waiting, you can communicate with the buyer via the chat window on the order details page. If the buyer does not pay for a long time, the order will automatically cancel, and your USDT will be unfrozen and returned to your account.
Step 6: Confirm Receipt and Release Crypto
Once the buyer has transferred the funds, they will click the "Transferred, notify seller" button on the APP to notify you. At this point, you MUST go and check your own bank card, Alipay, or WeChat to see if the funds have actually been received.
This step is extremely important: You must verify the actual arrival of funds in your bank APP, Alipay APP, or WeChat; do not just look at the screenshot sent by the buyer. Confirmation means not just seeing a transfer record, but verifying the amount is correct and the status is "Completed/Received" (not processing).
After confirming receipt of the funds, return to the order page in the Binance APP and click the "Payment Received" (Release Crypto) button. The system will require you to perform security verification (password, authenticator code, etc.). After confirmation, the frozen USDT will be released to the buyer, and the trade is complete.
Step 7: Trade Completed
After releasing the crypto, the order status changes to "Completed". The RMB in your bank card/Alipay/WeChat is now yours. The whole process essentially converts cryptocurrency into RMB.
Precautions for Withdrawing
Do Not Release Crypto Before Confirming Receipt of Funds
This is the most important rule. Some scammers will send forged transfer screenshots urging you to release the crypto, or exploit a bank's "delayed transfer" feature to initiate a transfer and then cancel it. You must confirm that the funds have actually arrived in your bank APP before releasing the crypto. Once you click "Release", the USDT cannot be recovered.
Be Aware of Trading Limits
Users using C2C for the first time may face trading limits. If you need to sell a large amount of USDT, you may need to complete it in multiple smaller transactions. As your number of trades and completion rate increase, your limits will gradually be raised.
Risk of Bank Card Freezing
The most frequently mentioned risk in C2C trading is the bank card being frozen. If the buyer's source of funds is problematic (e.g., involving scam funds), your receiving bank card could be frozen by law enforcement. While this situation is not common, it can happen. Methods to reduce this risk include: trading with highly reputable, large-volume merchants; using a dedicated bank card for C2C trades (do not use your main everyday card); keeping individual transaction amounts reasonable; and not trading too frequently.
Fee Explanation
Binance C2C trading is fee-free for regular users, but the actual RMB amount you receive depends on the buyer's bid. C2C prices usually have a slight deviation from the real-time exchange rate (buyers bid slightly below the market price); this spread is your "implicit cost". The spread is usually around 0.5% - 1%.
Strategies for Large Withdrawals
If you need to withdraw a large amount (e.g., over 100,000 RMB), it is recommended to adopt the following strategies: break it down into multiple smaller trades, keeping each under 50,000 RMB. Trade with different buyers rather than concentrating all trades with one buyer. Disperse trading times across different days. Use different bank cards to receive funds to avoid a single bank card having massive incoming transfers in a short period. These practices can lower the probability of triggering bank risk controls and subsequent freezing.
Are There Other Ways to Cash Out Besides C2C?
Over-The-Counter (OTC) Desks
Some OTC trading groups or platforms offer more flexible trading methods, but the risks are also higher, and it is not recommended for beginners. Binance's C2C is itself a standardized OTC trading platform, which is sufficient for most users' needs.
Withdrawing to Other Platforms
You can also withdraw USDT from Binance to other platforms that support direct fiat withdrawals to cash out. However, this adds an extra operation step and additional withdrawal fees, which is usually unnecessary.
Conclusion
Selling via Binance C2C is currently the most mainstream and secure method for withdrawing to a bank card. The entire process is not complicated; the core is just three steps: "Sell USDT -> Wait for Buyer Payment -> Confirm Receipt and Release Crypto". As long as you pay attention to the security precautions, especially confirming the actual arrival of funds before releasing the crypto, you can successfully complete every withdrawal operation.