USDT (Tether) is undoubtedly one of the most recognized cryptocurrencies in the digital asset space, especially for investors in China where direct fiat-to-crypto purchases are restricted. As a stablecoin pegged 1:1 to the US dollar, USDT serves as a crucial bridge currency for trading other cryptocurrencies. If you're holding USDT and wondering how to convert it back to fiat currency, this guide will walk you through the process using OKX (formerly OKEx), one of the world's leading cryptocurrency exchanges.
Step-by-Step Tutorial: Selling USDT on OKX App
Selling USDT through a reputable exchange like OKX is the safest and most straightforward method for retail investors. Follow these steps:
1. Register an OKX Account
- Open the OKX app and click [Register/Login] at the top.
- Choose between [Mobile] or [Email] registration.
- Enter your mobile number/email, verification code, and set a password.
2. Complete Identity Verification (KYC)
- Navigate to [Profile] > [Identity Verification].
Complete all three levels of authentication:
- LV.1 (Basic)
- LV.2 (Advanced)
- LV.3 (Video)
👉 Start trading USDT securely on OKX today
3. Sell USDT via Quick Buy
- Tap [Quick Buy] > [Sell].
- Enter the amount of USDT you wish to sell.
- Select [Confirm Sale].
- Choose your preferred payment method and enter Google Authenticator code when prompted.
4. Complete the Transaction
- Wait for buyer payment (check your bank account to confirm funds received).
- Click [Confirm Receipt] to release USDT to the buyer.
Important Notes:
If payment isn't received, file a ticket via [Customer Support]. Never release USDT without verifying payment first.
Alternative Selling Methods:
- C2C Trading: Manually select merchants with competitive rates.
- Large Orders (>100,000 CNY): Use the [Bulk Trading] filter.
Key Factors Affecting USDT Price
Despite being a stablecoin, USDT's value can fluctuate slightly due to:
- Supply-Demand Dynamics: Exchange liquidity conditions.
- Market Volatility: Futures liquidations and position closures.
- OTC Market Activity: Fiat inflow/outflow volumes.
- BTC Dominance: Shifts in Bitcoin's market share.
- Regulatory News: Tether's compliance updates.
👉 Monitor USDT prices in real-time on OKX
Why USDT Maintains Its Dollar Peg?
USDT's stability stems from market consensus rather than direct redemption:
- Traders naturally price it at ~$1 for practicality in crypto trading pairs.
- Public blockchain transparency builds trust in its reserves.
- Despite Tether's controversies, market mechanisms consistently correct deviations.
Advantages of USDT:
- Price stability during market downturns
- Transparent on-chain transactions
- Quick valuation reference (1 USDT ≈ 1 USD)
- Liquidity across all major exchanges
FAQ: Selling USDT on OKX
Q1: Is there a minimum amount to sell USDT on OKX?
A: No strict minimum, but smaller amounts may get less favorable rates in C2C trading.
Q2: How long does an USDT sale typically take?
A: Instant matching, with payment confirmation usually within 15-30 minutes.
Q3: What payment methods can I receive when selling USDT?
A: Bank transfer, Alipay, WeChat Pay (varies by region).
Q4: Are there fees for selling USDT?
A: OKX charges 0.1% trading fee; some payment methods may have additional processing fees.
Q5: What if the buyer doesn't pay after I list USDT?
A: Use the dispute system - OKX will freeze the transaction and mediate.
Q6: How to ensure safe USDT transactions?
A: Always use OKX's escrow service and verify payments before releasing coins.
Disclaimer: Cryptocurrency trading involves risk. This guide doesn't constitute financial advice. Always conduct your own research before transacting.