How to Withdraw from Binance to GCash

If you're interested in learning how to cash out from Binance to GCash, then you need to read this simple guide right away.

By The 'Staunch

GCash is one of the most widely used e-wallets in the Philippines.

It has a lot of features and services that allow you to do not just secure money transfer, but also secure cryptocurrency transactions.

However, Binance is a very popular worldwide that we crypto enthusiasts loves using most of the times.

It’s no surprise why Filipinos are searching for tutorials that will teach them how to get funds out of Binance and into GCash account.

If you’re one of them, then keep reading as I will show you how to withdraw from Binance to GCash.

Before we dive into withdrawing money out of the exchange, let me quickly show you how to add your GCash account details to Binance.

How to add GCash account to Binance

The easiest way to withdraw your cryptocurrency balance from Binance is through its P2P exchange marketplace.

The first step is to add your GCash account details to the P2P payment methods, for you to receive cash into your GCash account.

Below is the process on how to add GCash account to the Binance P2P payment method.

  1. Open and log in to your Binance mobile app
  2. On the top left, find the human icon and tap on it
  3. Scroll down until you find the ‘Payment Method’ option
  4. Then select ‘P2P Payment Method’ and tap on it
  5. Add your GCash account as the new payment method.

After entering your GCash account details, remember to save the information.

Now that you’ve added your GCash to Binance P2P payment methods, let’s get started on the next step.

How to cash out from Binance to GCash

Here are the steps that you need to withdraw your investment from Binance to GCash mobile app.

However, I’m assuming that you already have an account with Binance, otherwise, you’ll have to use this link to create it right away.

The following process below will help you cash out your money from Binance exchange to GCash account.

  1. Go-to your Binance mobile app
  2. Access the ‘Spot Wallet’ tab
  3. Convert your crypto balances to USDT
  4. Transfer the USDT to ‘Funding Wallet’
  5. Enter the amount to transfer out
  6. Tap on the ‘Transfer’ button.

Now you can refresh the app and confirm that the stablecoin is successfully transferred into your Binance P2P wallet.

How to sell USDT using Binance P2P

Binance P2P marketplace is where you can easily sell your crypto asset for fiat money, and in your case, will receive payment through GCash.

Follow the steps below to sell your USDT token on the platform, and cash out the fund to your GCash account.

  1. Go to your Binance app
  2. Enter the P2P exchange section
  3. Tap the ‘Sell’ option
  4. Under the option, select USDT to sell
  5. Then tap ‘Payment method’ and choose ‘GCash’
  6. On the next page, fill out the USDT amount to sell
  7. Select ‘Payment method’ to get the cash out
  8. Hit the ‘Sell with 0 Fee’ button
  9. Allow the vendor some time to send the equivalent
  10. Confirm that got the transfer to your GCash account
  11. Tap on ‘Release USDT’ to complete transaction
  12. Binance will send you a one-time passcode
  13. Fill-in the OTP and confirm the transaction.

Congratulations… you have successfully withdrawn money from Binance to GCash!

Wrapping up

Withdrawing money from Binance to GCash account is not hard, but you have to know what you’re doing.

This is to avoid certain cryptocurrency investment risks in the process.

Make sure to use correct details when adding your GCash account to Binance P2P, or you’ll loose your funds without any trace.

To hide your transaction footprints, it’s good to use a reputable VPN (i.e. Virtual Private Network) service.

About the 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.

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About The 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.