GCash is one of the most widely used e-wallets in the Philippines. It has a lot of features and services that allow us to do secure money transactions online, one of which is cryptocurrency transactions, just like what we’re going to talk about today, how to withdraw money from Binance to GCash.
Binance is one of the biggest cryptocurrency exchanges in the world, it is so popular worldwide that we Filipino crypto enthusiasts also become a fan and uses it. So it’s no surprise that lots of Filipino are searching for tutorials, just like what I’m going to share with you today, how to cash out from Binance to GCash.
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Here’s How To Withdraw From Binance To GCash 2022
Follow the simple steps below on how to cash out or withdraw from Binance to your GCash account. I also created a video for everyone that prefers watching videos rather than reading this whole article. Watch the video below:
Here are all the steps that you need to go through for you to be able to cash out your cryptocurrencies from Binance to your GCash account. GCash is a mobile app, so I’m assuming that you’re also using a Binance mobile app right now.
The easiest way to withdraw your Binance cryptocurrency balances is through Binance P2P trading. It has zero fees, and you will be transacting a fellow Filipino Binance traders. Here’s how the process.
1. Adding Your GCash Account Details
The very step is to add your GCash account details to the P2P payment methods, for you to of course receive or cash out your Binance balance to your GCash account. Below is the process on how to add your GCash account to the Binance P2P payment method.
- Open and log in to your Binance mobile app.
- On the top left, find the human icon and tap it.
- Scroll down until you find the “Payment Method” option.
- Then select “P2P Payment Method” and tap it.
- Add your GCash account as the new payment method.
2. Transfer Balance From Spot Wallet To Funding
By default, Binance will store your Balances on the spot wallet. What you need to do is to transfer it to your funding account for you to be able to sell it on the Binance P2P market.
Before you go ahead and transfer your Balances from your “Spot wallet” to “Funding”, make sure that all your Balance is converted into USDT. Because most of the P2P traders prefer to buy USDT, and that’s what we want to easily sell our Binance balance.
- Go to your “Spot Wallet” tab, and convert your Balances into USDT
- On your spot wallet, tap the “Transfer” button.
- Click “Max” if you want to transfer all your Balance or type it in manually.
- Refresh your Binance app and confirm that the transfer was successful.
3. Trade On Binance P2P Marketplace
Binance P2P is a marketplace where you can easily trade your cryptocurrency for fiat money, which in our case will receive our payment through GCash. You will be transacting with fellow Filipino Binance traders, it’s secure and I have been using it almost every time I cash out or withdraw my balance from Binance.
- Go to your Binance app “Home” page and tap “P2P Trading”.
- On the top right, make sure to select “PHP” currency, and tap the “Sell” option.
- Under the “Sell” option, select “USDT” then tap “Payment method” and chose “GCash”
- On the next page, you need to fill out the USDT amount in the “Enter quantity” box.
- Select “Payment method” and finally, hit the button that says “Sell with 0 Fee”.
- Just for the seller to transfer the total amount of the trade to your GCash account.
- Once your receive the payment, click “Transfer” to release your USDT to your buyer.
- Binance will send you a one-time passcode, just fill it out and confirm the transaction.
That’s should be it, let me know in the comments if you still have questions or suggestions for this article. Thank you very much, and good luck!