How to Trade or Convert USDT to BNB on Binance

For crypto experts, this may seem like an idiot’s guide to using converting USDT to BNB on Binance. But, believe me, the whole process can be terrifying to the absolute beginners in the field who are trying to navigate their way through this maze.

With every hesitant click, many of them fear that their digital assets may get deleted and vanish forever. Feels like they are walking on quicksand or on a land minefield. I know, because, once upon a time, I was a beginner too.

To change your USDT tokens to BNB, you can either ‘Convert’ it or you can ‘Trade’ it. Covert is definitely a better choice. The screen is clear and clutter-free. There is no doubt as to what you are expected to do. On the other hand, the Trade screen can be overwhelming for an absolute beginner. We’ll look at both these options, one by one.

Here, I am starting with an assumption that you already have a Binance account containing USDT. You have already decided you want to convert some of your USDT to BNB tokens.

Without dragging the topic, let’s get down to action straight away.

Convert: The Easiest Way to Trade on Binance

To get started with this, you need to log into your Binance.com account.

1. Click on the ‘Trade’ button in the (top) main menu.

1. A drop-down list will appear. Click on the ‘Convert’ option. It will lead you to the following page: 

3. As you can see, the USDT available for trade is displayed on the top right of the box. My holding is shown as 1500 USDT. In the above image, the ‘ From’ column displays USDT while the bottom one for ‘To’ is showing BTC. Depending on what conversion or trade you want to do, you can set both tokens accordingly. Here our aim is to convert USDT to BNB.

4. Click on the dropdown button in the ‘To’ options and select BNB from the list.

5. Now enter the amount of USDT you wish to convert. You need to enter a minimum of 20 USDT (to a maximum of 2500000). Once you do, you get the option to ‘Preview the Conversion’.

6. This shows you how much BNB you can get for the USDT quantity entered and the price. The market rates fluctuate constantly, so you get just 5 seconds to confirm the conversion.

7. If the rated quote expires, you have to hit the ‘Refresh’ button to get a fresh quote.

8. So refresh and get a new price quote and click immediately on the ‘Convert’ button to do the transaction. You will get a notification if the transaction is successful. This displays how much USDT has been successfully converted to BNB and the price paid. You can ‘Go back’ to convert more USDT.

9. If you click on ‘View Status’, it takes you to the ‘Trade History; page. Note that here the status of the trade is shown as successful.

Congratulations! You have successfully converted your USDT to BNB!

Classic Trade: Simple and Easy-to-Use Interface for Trading

Lost in the maze looking for the right trading page? Find other trade choices, but not the one you want? No worries, that’s what we are here for. There are a couple of ways to get to the right trading page for USDT and BNB. 

1. Click on ‘Markets’ in the main menu.

2. This will lead you to the page given below. Click on the ‘Trade’ option for BNB.

3. This will take you straight to the trading page for BNB and USDT.

Another way to reach this same page is to click on ‘Wallet’ in the main menu. Then choose ‘Fiat and Spot’ from the drop-down list.

Here you get to see how much of each token you hold. You can see the USDT holding as well as the BNB we just got in the conversion we did earlier.

1. To trade more USDT for BNB, you can click on the trade option given with the BNB coin.

2. From the drop-down list, choose the token combination you want to exchange.

3. Click on BNB/USDT to trade between these two coins. This will take you directly to the previously mentioned trade page for BNB/USDT.

How to Trade USDT for BNB on Classic

Now you have found the trading page you need. Now you know why I said the ‘Convert’ is easier and clutter-free while this one may seem overwhelming.

Note that I said, it ‘may seem’ too much info - but it isn’t really. If you are just a beginner, then you need to observe just two things for the purpose of getting the transaction done.

Disclaimer: This is not investment advice! Please make sure you have done your homework on investing in cryptocurrency. Do not invest more than you can afford to lose. This is a highly volatile market with potential for massive gains as well as massive losses. So you’d better not be experimenting with your retirement funds.

Now back to the topic...

First, take note of the price mentioned on the top - here, it is 353.90 for BNB. Less than a month ago, on May 10, 2021, the price was as high as $676.47. Over 3 years ago, BNB was as low as $0.039817 !!!

1. Once you know the BNB prices of the moment (it seems to fluctuate wildly - from 353.90 to 353.84 in the nanoseconds I took to scroll down), move down the page to the section where you can execute your transaction. You can see the options for ‘Buy BNB’ and ‘Sell BNB’.

2. To get BNB, enter the USDT amount in the (Total - USDT) box just above the ‘Buy BNB’ button. As you can see, I have entered 20 USDT.

3. The price quote for BNB appears in the box above with the amount of BNB you will receive. You only have seconds to approve the transaction, so be quick about it.

With the amount of changing information and blinking red/green colors on the screen, it’s easy to lose track of what just happened! Did I get the BNB? Did the quote expire? Do I need to do it again to get a fresh quote?

Whoa! Hold your horses! Your trade most probably got executed and you missed the notifications which also seem to vanish as quickly as they popped on this everchanging screen.

Look at the image below.

When you click on the ‘Buy BNB’ button, a pop-up shows ‘Limit Buy Order Created’, and when the transaction is completed successfully, you get another pop-up ‘Limit Buy Order Filled’. Honestly, they are hard to notice. They are pretty small in comparison to the whole page, almost the same color as the background and they disappear immediately. I had to do another trade to just get you this screenshot.

If you missed these popup notifications, and are wondering if your trade was executed, don’t worry. Your order history is displayed right below your Buy and Sell Zone.

Here you can see the four trades I executed and the status of each one.

Now if you want to check your holdings, click on ‘Wallet to get the drop-down list and then choose ‘Fiat and Spot’. Yes, we visited this one before on our way to the BNB/USDT trading page.

In the below image, you can see that my USDT holding has reduced from my initial 1500 to 1400 as I did a total of five transactions of 20 USDT each in exchange for BNB. It shows my BNB holding as 0.28250

Now I am going to transfer my BNB tokens to my Binance Smart Chain Wallet.

You can learn about creating your own Binance Smart Chain Wallet and transferring BNB from Binance.com to the Binance Smart Chain Wallet - from our Beginner’s Guide to Binance Smart Chain Wallet.

Once I transfer the BNB to my wallet, I’m heading over to Wault.Finance to invest them in yield farming. Learn all about liquidity pools on Wault Finance, Swapping, Staking, Yield Farming and more from our Beginner’s Guide to Wault.Finance.

We also have a pretty exciting guide to ApeSwap for Beginners. If you don’t have a Binance Smart Chain Wallet, then create a MetaMask wallet using our step-by-step guide. Then connect it to Pancake Swap for the best yield farms on the Binance Smart Chain.

Before You Go…

The world of DeFi is indeed exciting. A lot of people are attracted to it, but only the brave actually venture into this strange and unpredictable new world of decentralized finance (DeFi). Most people tend to stick to traditional finance and the comfort of what the majority does.

With many countries shutting down cryptocurrency platforms and even banning them outright, it can create fear in the minds of investors, especially beginners. We understand your caution. Our beginner guides are created to be your guiding light. They are simplified enough for even a child to follow. Feel free to reach out to us any time if you need a guide on any other subject in this niche.

Now, go ahead and get your USDT converted to BNB. Then venture out to do more with the unlimited variety of cryptocurrency - to add liquidity, swap, stake, farm, and much more. Welcome to the DeFi revolution.