Binance, the world’s largest Bitcoin exchange, is often peoples’ first experience of the Bitcoin ecosystem. Many use it as an off-ramp—a way to sell Bitcoin. However, the platform is too complicated for many, and selling Bitcoin and withdrawing funds to your bank account can take several days.
In this article, we will look at the pros and cons of Binance as a platform to sell your Bitcoin. We’ll also look at other options for Binance alternative that are available to you and how they can make going from Bitcoin to Fiat easier.
Launched in 2017, Binance has grown to be the world’s largest Bitcoin exchange handling $65 billion in trading volume daily. Although it’s a famous exchange, Binance can be difficult for beginners. The platform is designed for institutional clients and off-ramping needs a more straightforward user interface (UX) design. In addition to a vast range of complex offerings, it’s often overwhelming for the average user that wants sell Bitcoin on Binance.
Like many Bitcoin exchanges, the fee schedule can be complex. It’s tricky to figure out exactly how much you’ll have to pay to withdraw Bitcoin from your Binance account to your bank account or card. As the process involves multiple stages, you’ll often incur fees at each step.
Fees can vary and will include a combination of the following:
Binance has also paused withdrawals several times recently due to technical issues, including as recently as March 2023. This has raised concerns among users that they may lose access to their deposits temporarily or permanently and started looking for Binance alternative
A popular platform amongst institutional clients, Binance needs a user-friendly interface and simplicity many users would be looking for. Selling Bitcoin using Binance involves multiple stages, including transferring funds to Binance, trading, selling, and transferring to a bank account.
Let’s look at the pros and cons of Binance as a platform for selling crypto:
Spending Bitcoin shouldn’t be so complicated. That’s why we’ve designed a solution to allow you to instantly spend your Bitcoin at low fees directly to your bank account from any non-custodial wallet in just three steps making it an excellent Binance alternative and other exchanges that sell bitcoins.
Bringin is an easy-to-use tool to sell crypto from any wallet. Our interface is easy to navigate and lets you buy or sell crypto in just a few clicks—no complicated multi-step process or waiting days for your transfer to clear. In addition, we charge a fixed fee of 1%—no hidden fees or complex fee schedule.
We offer two ways to sell your crypto:
We offer each customer a dedicated IBAN account to prevent issues with your banking provider. All payouts are made from this IBAN to your account. In addition, we support SEPA instant transfers. If the Beneficiary banks keep SEPA instant, the transfer happens in less than a minute!
Selling Bitcoin should be easy and fast. So let’s look at how you can spend Bitcoin through Bringin.
When you open an account with Bringin, you must complete a simple verification process. Once you’ve completed this check, you can start selling your crypto immediately. Here’s how:
1) Choose the Bitcoin payment method – on-chain or lightning
2) Choose the withdrawal method – Virtual debit card or Bank withdraw
3) Pay the invoice, and that’s it.
You will get a one-time unable virtual debit card to spend online
And that’s it!
A simple, no-fuss a straightforward and a even more better Binance alternative for selling bitcoin.
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