Any Binance US crypto traders here? Need help-will rep

[BeachPro11]

Would appreciate any help anyone can give. Will rep peacefully.

Have a Binance US account with about $100 K in crypto and $10 K in "Cash" in it. Being honest I have not logged into it in a longggggg time but wanted to at least withdraw the cash. Used to be I could just ACH it to my bank account no problem. Obviously since the SEC changed things last June I can't do that. It is tied to the USDT in my wallet and is not in USD's and I can't send it directly to my bank.

So being a complete idiot when it comes to this as I trade stocks and not crypto, how in the world do I get that $10 K in USDT from Binance to my bank account???? Do I have to send it somewhere else first, get it converted and then send it to my bank?

Would greatly appreciate a step by step process for those who have done this or know how to do it.

[PhiloSquid]

Would appreciate any help anyone can give. Will rep peacefully.

Have a Binance US account with about $100 K in crypto and $10 K in "Cash" in it. Being honest I have not logged into it in a longggggg time but wanted to at least withdraw the cash. Used to be I could just ACH it to my bank account no problem. Obviously since the SEC changed things last June I can't do that. It is tied to the USDT in my wallet and is not in USD's and I can't send it directly to my bank.

So being a complete idiot when it comes to this as I trade stocks and not crypto, how in the world do I get that $10 K in USDT from Binance to my bank account???? Do I have to send it somewhere else first, get it converted and then send it to my bank?

Would greatly appreciate a step by step process for those who have done this or know how to do it.

if you cant setup a way to withdraw to a bank acc on binance, you can create a coinbase account, register, wait etc and then send funds to coinbase, sell for USD. Expect for them to audit your transactions when attempting to withdraw a large amount of money. Will most likely ask you to verify your original purchase funding, time held etc.

Crypto.com is another US exchange you can withdraw from. Might be a good idea to setup accounts on multiple and follow through with the one that gives you the least amount of headache.

I'll also do an over-the-counter trade and paypal you after funds arrive up to 10k(srs)

[AlexxVann]

Can you not just sell the USDT for USD and then straight withdraw to your bank account?

[BeachPro11]

if you cant setup a way to withdraw to a bank acc on binance, you can create a coinbase account, register, wait etc and then send funds to coinbase, sell for USD. Expect for them to audit your transactions when attempting to withdraw a large amount of money. Will most likely ask you to verify your original purchase funding, time held etc.

Crypto.com is another US exchange you can withdraw from. Might be a good idea to setup accounts on multiple and follow through with the one that gives you the least amount of headache.

Is that how people are doing it? Have you had any experience with doing this?

Can you not just sell the USDT for USD and then straight withdraw to your bank account?

On Binance I don't think you can. Which is odd to me.

[Zackad]

Is that how people are doing it? Have you had any experience with doing this?

Yes. I had a binance account and migrated all my crypto from there to Gemini when the SEC was changing things. Granted i didn't have nearly as much invested as you seem to, so there was no headache for me.

[PhiloSquid]

Is that how people are doing it? Have you had any experience with doing this?

I've only actually cashed out a few thousand, a few direct deposited on coinbase and i used crypot.com's debit card to buy a motorcycle after selling 8k

I've been in the crypto space for a long time though and just giving you fare warning that most major exchanges are going to request the source funding for your original crypto purchased, bank statements etc to cash out 100k.
the 10k 'usd' you have on binance, you will need to purchase USDT with it and transfer that to coinbase with the rest of your USDT,

On Binance I don't think you can. Which is odd to me.

Because Binance is a chinese based company and didnt want to be ****ed with US regulations, so they won't interact with US financial institutions anymore

[AlexxVann]

On Binance I don't think you can. Which is odd to me.

Strange, I would just make an account with Coinbase, or research another large exchange that lets you withdraw USD.
Then just transfer the USD to that new exchange account and withdraw.

Offramping in US seems way harder than AUS.

[BeachPro11]

Yes. I had a binance account and migrated all my crypto from there to Gemini when the SEC was changing things. Granted i didn't have nearly as much invested as you seem to, so there was no headache for me.

And when you sold your crypto on Gemini you were then able to take the money out and transfer to your bank?

[Destor]

You need to convert the USDT to CUMMIES, then to a Bored Ape NFT, then to Doge, then MISC coin, back to USDT, hit up-up-down-down-left-right-left-square-triangle on your keyboard, and then it will turn into USD for withdrawal

[BeachPro11]

Strange, I would just make an account with Coinbase, or research another large exchange that lets you withdraw USD.
Then just transfer the USD to that new exchange account and withdraw.

Offramping in US seems way harder than AUS.

Yeah the SEC completely F'd everyone here.

[BeachPro11]

You need to convert the USDT to CUMMIES, then to a Bored Ape NFT, then to Doge, then MISC coin, back to USDT, hit up-up-down-down-left-right-left-square-triangle on your keyboard, and then it will turn into USD for withdrawal

Sounds simple. And I love CUMMIES. As everyone should.