How to Sell Doge on Binance for GBP

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How to Sell Doge on Binance for GBP
How to Sell Doge on Binance for GBP

Dogecoin has been one of the top performers in the recent crypto bull run. It is backed by Tesla CEO Elon Musk and billionaire investor Mark Cuban. Profitable UK investors often look for opportunities to sell Dogecoin (DOGE) for GBP. At the same time, those hungry for future profits wonder what options they have if they decide to cash out Dogecoin.

Interestingly, many exchanges and brokers allow people to sell Dogecoin in the UK and deposit the funds straight into their bank account, debit card, or other cryptocurrencies. 

In this article, we will be discussing three methods on how to sell DOGE on the Binance platform for GBP.

What is Binance?

Binance is one of the most popular cryptocurrency exchanges and offers multiple options for selling cryptocurrencies like DOGE for GBP. 

There are three different ways of converting your DOGE for GBP after registering and completing the KYC process, which are: Market Order/Limit Order, trade conversion and P2P.

How to sell Doge on Binance for GBP

Market Order/Limit Order

  • Go to Wallet>Fiat and Spot.
  • Find your DOGE wallet from the coin’s list and click Deposit.
  • Copy the address provided and use it to transfer funds from the external wallet where you hold the coin.
  • Once confirmed, go to Markets and search for DOGE/GBP pairs. You will find it under Fiat Markets.
  • Click on the pair, and at the bottom of the page, switch the Order Type to either Limit or Market. Limit order enables investors to buy DOGE at a specific price, while Market order enables investors to buy DOGE at its current market price.
  • Under the Sell column, enter the quantity of DOGE to sell to GBP and execute the order.
  • Go back to Wallet>Fiat and Spot and click Withdraw on your GBP wallet.
  • Provide your bank or card details and initiate the withdrawal.
  • Binance will complete the GBP transfer to your account using the provided information.

Trade Conversion

  • Go to Wallet>Fiat and Spot.
  • Click Deposit on your Dogecoin wallet and copy the address provided.
  • Transfer your coins to this address and wait for the network confirmation.
  • Go to Trade>Convert and select DOGE as the coin to convert for GBP.
  • Input the amount and complete the conversion.
  • Once successful, go back to Wallet>Fiat and Spot.
  • Click Withdraw on your GBP wallet.
  • Enter the amount to withdraw on the next screen and choose your preferred method.
  • Initiate and approve the withdrawal.

P2P

  • First, go to the (1) “Wallets” tab, click (2) “P2P”, and (3) “Transfer” the DOGE to your P2P Wallet. If you already have the DOGE in your P2P wallet, please go to the homepage and tap “P2P Trading” to enter P2P trading.
  • Click sell on the top of the P2P trading page, select GBP, select an advertisement and click “Sell”.
  • Enter the quantity you want to sell, select a payment method, and click sell GBP to place an order.
  • The transaction will now display “Pending Payment”. After the buyer makes the payment, the transaction will display “Confirm Receipt”. Please make sure that you’ve actually received payment from the buyer to the payment app/method you used. After you confirm the receipt of money from the buyer, tap “Payment received” and “Confirm” to release the crypto to the buyer’s account. Again, If you have not received any money, please DO NOT release crypto to avoid any financial losses.
  • Note:
  • If you have any issues in the transaction process, you can contact the buyer using the chat window on the top right of the page, or you can click “Appeal”, and our customer service team will assist you in processing the order.