How to Convert USDT to Cash A Complete Guide

Learn how to convert USDT to cash with Bitrue’s OTC service. This guide covers the process, fees, and everything you need to know to safely convert your USDT to fiat currency

If you're looking to convert your USDT (Tether) into real-world currency, you'll need a platform that enables seamless exchanges from cryptocurrency to fiat. USDT is a stablecoin commonly used for trading, but when it comes to cashing out, the process can seem a bit complex, especially for beginners. 

In this complete guide, we’ll walk you through how to convert USDT to cash using Bitrue exchange, one of the most popular platforms for crypto-to-fiat conversions.

What is USDT?

USDT (Tether) is a stablecoin designed to mirror the value of the U.S. Dollar. It is commonly used by crypto traders as a way to store value without the volatility associated with other cryptocurrencies like Bitcoin or Ethereum. 

However, like any cryptocurrency, USDT must be converted to cash through a trading platform or exchange that allows for fiat withdrawals.

Step-by-Step Guide to Converting USDT to Cash via Bitrue

1. Create and Verify Your Bitrue Account

Before you can convert USDT to cash, you need to create an account on Bitrue and complete KYC (Know Your Customer) verification. Verification is crucial to meet regulatory standards and ensure the security of your transactions. Here’s how to get started:

• Create an Account: Sign up on the Bitrue website or mobile app.
  
   
• Verify Your Identity: Complete the KYC process by submitting identification documents. Depending on your KYC level, your withdrawal limits will increase.
  
   

There are two KYC levels:

• Level 1: Allows withdrawal of up to 2 BTC per 24 hours.
  
   
• Level 2: Increases the withdrawal limit up to 500 BTC per day.
  
   

Once your account is verified, you’ll be able to fully access Bitrue’s services, including converting USDT into fiat currency.

Also read Calculator Converter 1 USDT to USD

2. Using Bitrue’s OTC Service

Bitrue offers an Over-The-Counter (OTC) trading service, which allows you to convert USDT into fiat currency. The process is relatively simple and straightforward:

• Log into your Bitrue Account: Open the Bitrue platform and go to the OTC section.
  
   
• Select the Amount of USDT: Choose how much USDT you want to convert into cash.
  
   
• Choose Your Fiat Currency: Select your preferred fiat currency (USD, EUR, etc.).
  
   
• Select Payout Method: You can receive your funds via a bank transfer or bank card, depending on the payout options available in your region.
  
   

Once you’ve confirmed the details, Bitrue will process the transaction and transfer the fiat equivalent to your bank or card.

Note: Bitrue only supports indirect fiat withdrawals. This means that you must first sell your USDT for fiat on the OTC platform before withdrawing the fiat to your bank account or card.

3. Withdraw Fiat to Your Bank or Card

After the successful sale of your USDT on Bitrue’s OTC platform, the fiat amount will be processed for withdrawal. The following steps are involved:

• Select Withdrawal Method: Choose whether to withdraw the funds to your bank account or bank card.
  
   
• Complete the Transaction: Confirm the amount and method, and Bitrue will initiate the transfer.
  
   

Keep in mind that withdrawal times may vary depending on your banking institution and country. While the transaction itself is typically fast, processing may take a few days in certain regions.

Also read Buy USDT OTC

4. Alternative Method: Withdraw USDT to an External Wallet

If you prefer to use a different platform for converting USDT to cash, you can withdraw your USDT from Bitrue to an external wallet. Once the funds are in your external wallet, you can convert them to fiat through another exchange or service that supports fiat withdrawals.

To withdraw USDT to an external wallet, follow these steps:

• Go to Assets on Bitrue.
  
   
• Select Withdraw, and choose USDT.
  
   
• Select the TRC20 network for lower fees.
  
   
• Enter the wallet address and confirm the transaction.
  
   

Note: Always double-check the network and address before making the transfer to avoid errors.

Fees for Converting USDT to Cash on Bitrue

Understanding the fees associated with converting USDT to cash is crucial. Here’s a breakdown of the fees you might encounter when using Bitrue:

1. USDT Withdrawal Fees (TRC20 Network)

Bitrue charges low withdrawal fees for USDT on the TRC20 network. Typically, the fees range from $0.50 to $1, depending on network congestion and transaction volume.

2. OTC Service Fees

• Selling USDT for Fiat: The OTC trading fees on Bitrue range from 0.08% to 2% per transaction, depending on the trade size. Larger trades tend to have lower fees, while smaller trades may have a premium (e.g., a 1.5% fee for transactions between $2,000 and $10,000).
  
   

3. Fiat Withdrawal Fees

While Bitrue does not support direct fiat withdrawals, when withdrawing via the OTC platform and transferring funds to a bank card or account, there may be additional fees charged by your bank or the financial intermediary handling the transfer.

4. Network and Transaction Fees

• Withdrawal Fees: Fees for transferring USDT to an external wallet or converting it through other platforms depend on the network used (e.g., Ethereum, TRON).
  
   
• Transaction Fees: Standard fees apply for any blockchain transactions, such as transferring USDT to another wallet or exchange.
  
   

Summary Table of Fees and Withdrawal Details

Also read How to Buy Tether USDt (USDT)

Conclusion

Converting USDT to cash is a seamless process, particularly when using platforms like Bitrue. While Bitrue does not offer direct fiat withdrawals, their OTC service allows you to sell USDT and withdraw the funds through your bank or card.

Be sure to complete the KYC verification and choose the TRC20 network for the lowest fees. Always double-check your wallet addresses and transaction details to avoid errors.

By following this guide, you’ll be able to efficiently convert your USDT to fiat and manage your crypto investments with ease.

FAQ

1. Can I convert USDT directly to USD?

No, Bitrue does not support direct USDT to USD withdrawals. You must first sell USDT using their OTC service and then withdraw the fiat to your bank account or card.

2. What is the cheapest way to withdraw USDT from Bitrue?

Using the TRC20 network is the cheapest option, with withdrawal fees ranging from $0.50 to $1.

3. Is there a withdrawal limit on Bitrue?

Yes, KYC verification determines your withdrawal limit. Level 1 allows up to 2 BTC per day, while Level 2 increases this limit to 500 BTC per day.

4. How can I withdraw my USDT to an external wallet?

To withdraw USDT to an external wallet, go to Assets > Withdraw, select USDT, and enter the wallet address. Make sure you choose the correct network (e.g., TRC20 for the lowest fees).