Tired of holding USDT and now wondering how to get that money into your bank account? Don't worry, withdrawing USDT is easier than you think!
We’re here to navigate you through that process, giving a step-by-step guide and covering all the common withdrawal methods.
Ways To Withdraw USDT
USDT, also known as Tether, is a stablecoin and its value is tied to 1 USD. It enables crypto holders to sidestep the volatility factor by owning a digital asset with a relatively stable price.
Thinking about selling your USDT for cash? Let's explore your options. You can't directly transfer USDT to your bank, but crypto exchanges let you convert it to fiat and then withdraw it.
But is there only one way to withdraw USDT? Of course, not! There are several ways to go about it. You can use the following services:
- Cryptocurrency Exchanges
Many popular crypto exchanges let you convert USDT into fiat and then transfer the money to your bank account. Easy conversion tools at most exchanges make this method popular but you should check the fees and withdrawal limits.
- Peer-to-Peer Exchanges:
On P2P exchanges, you find users to directly buy your USDT with fiat currency, and then transfer the money to your bank account. The fees are typically lower compared to CEXs, but you might not find a buyer right away. Plus, there’s a risk of running into someone who wants to scam you, so only use P2P exchanges with verified users. Cryptomus P2P exchange prioritizes trust. We have verification badges for trusted sellers, a secure built-in trading chat, and a wide variety of offers with favorable terms.
- OTC Brokers:
OTCs offer withdrawal services and help you find buyers for your USDT tokens. But such brokers specialize in large-volume crypto transactions, so it’s not for your everyday withdrawals. They also have fees based on the total transaction amount.
Familiarize yourself with USDT in this article.
Step-by-Step Guide On How To Withdraw USDT
Let's dive deeper into the withdrawal process. We've created a comprehensive guide to help you navigate it smoothly. Here’s the info on how to withdraw USDT:
- Select a Trusted Exchange
- Transfer USDT to Your Exchange Wallet
- Sell USDT for Fiat
- Provide Your Bank Account Details
- Initiate Withdrawal
- Verify and Confirm
While choosing an exchange platform make sure to opt for the trusted one with a positive working base and support for USDT operations. Carefully review the bank account details for errors before confirming.
If you want to withdraw money to another wallet instead of a bank account, you will need a withdrawal address. A USDT withdrawal address is the unique identifier for the wallet you're sending USDT into. Double-check that address, as any mistake can lead to irreversible fund loss.
Plus, different wallets and exchanges may have various fees and processing times, so review those issues beforehand as well. USDT withdrawals can take from a few hours to days, depending on your platform and bank.
Things To Consider While Cashing Out USDT
Don't rush to cash out your USDT! By considering these factors first, you can ensure a smooth process and make informed decisions:
- Fees: Make sure to familiarize yourself with all kinds of fees you may be charged, from platform transaction fees to bank charges.
- Withdrawal Limits: Some platforms limit the amount of USDT you can withdraw or have withdrawal limits. Check these issues out to ensure they match your needs.
- Supported Fiat Currencies: Not all platforms may support the fiat currencies you need, so inspect if the one you prefer is supported before proceeding.
- Processing Times: They may vary depending on the platform, so you should check if it matches your withdrawal plan.
- Compliance: Verify that your transfer follows the rules of both the platform and your bank.
- Account Verification: Many crypto exchanges require users to pass a verification process (KYC/AML) before allowing withdrawals. Ensure you go through with it successfully to avoid delays.
- Taxes: Withdrawing USDT profits may result in tax liability depending on your location. Consult a tax advisor for guidance.
If you wanna multiply your USDT holdings, check out our USDT staking guide.
FAQ
What Are USDT Withdrawal Fees?
USDT withdrawals come with various fees depending on the platform you use and the method you choose. Typical fees include:
- Exchange Fees: These are charged by the platform to convert your USDT to fiat. They're typically a small percentage of the total transaction amount.
- Network Fees: Such fees are charged for processing your USDT transfer.
- Flat Withdrawal Fees: Certain platforms have a fixed fee for every USDT withdrawal, regardless of the amount.
- Bank Charges: Some banks might add extra charges for receiving the transferred funds, especially for international transactions.
How To Withdraw USDT To PayPal?
While PayPal doesn't directly accept USDT at this time, there's still a way to make it work. To withdraw USDT to PayPal, follow these steps:
- Log in to the platform where you hold USDT
- Convert USDT to a fiat supported by PayPal
- Go to Withdrawal section
- Pick Tether as a crypto to withdraw
- Enter the withdrawal amount
- Pick PayPal as a withdrawal method
- Follow instructions to complete the process
Also, some platforms might offer P2P transactions using which you can connect with a buyer who uses PayPal.
How To Withdraw USDT From Trust Wallet?
As a non-custodial wallet, Trust Wallet requires transferring USDT to a withdraw-enabled exchange first. To withdraw USDT from Trust Wallet, you need to:
- Go to the Wallet tab of Trust Wallet
- Pick your USDT wallet
- Click on Withdraw
- Enter the withdrawal amount
- Enter the withdrawal address
- Review and confirm
Once you've finished these steps, proceed to the detailed guide we provided you with earlier.
How To Withdraw USDT From MetaMask?
When it comes to MetaMask, the process is very similar to Trust Wallet. So, you transfer USDT to a wallet that supports withdrawals and move the funds to your bank account after that. How to withdraw USDT from MetaMask? Let’s see!
- Go to the Withdraw section of MetaMask
- Select USDT
- Enter the withdrawal address
- Enter USDT amount
- Confirm a transaction
How To Withdraw USDT From Exodus?
Like Trust Wallet and MetaMask, Exodus doesn't allow direct bank account withdrawals for USDT. To cash out your USDT, you'll need to send it to a crypto exchange that allows USDT withdrawals and then withdraw it from there.
That's it! Now, you should be able to withdraw USDT to your bank account easily. We hope this information proves helpful! What are your thoughts? Share your questions and experiences in the comments!
