How To Convert XRP To USDT On Binance App

Step-by-Step Conversion Process

To convert XRP to USDT on the Binance app, follow these steps:

1. Account Verification

   • Ensure your Binance account is verified (complete KYC requirements if necessary).
   • Download the official Binance app from the App Store or Google Play.

2. Access Spot Trading

   • Open the app and navigate to the Trade section at the bottom.
   • Select Spot Trading.

3. Select XRP/USDT Pair

   • Tap the trading pair displayed (e.g., BTC/USDT) and search for XRP/USDT.

4. Execute the Trade

   • Choose Sell XRP and select:

     • Market Order: For instant conversion at current prices.
     • Limit Order: To set a specific price target.
   • Enter the XRP amount or use percentage sliders (25%, 50%, etc.).
   • Confirm by tapping Sell XRP.

5. Completion

   • Your USDT balance will update in your Spot Wallet.
   • Check transaction fees (typically 0.1% or 0.075% with BNB discount).

👉 Binance’s official fee structure

Understanding XRP and USDT

XRP Overview

• Purpose: Facilitates fast, low-cost cross-border payments via the XRP Ledger.

• Key Features:

  • Decentralized blockchain.
  • Avg. transaction time: 3–5 seconds.

USDT (Tether) Overview

• Stablecoin: Pegged 1:1 to USD.

• Uses:

  • Hedging against crypto volatility.
  • Liquidity for trading pairs.

Fees and Best Practices

| Fee Type | Cost | Reduction Method |
|-------------------|----------------------|------------------------|
| Spot Trading Fee | 0.1% per trade | Pay with BNB (0.075%) |
| Withdrawal Fee | Varies by network | Use TRC-20 (~$1) |

Security Tips:

• Enable 2FA (Google Authenticator preferred).
• Avoid phishing scams—only use official Binance links.

Islamic Finance Considerations

Permissibility Guidelines

• Riba (Interest): Avoid margin trading or interest-bearing accounts.
• Gharar (Uncertainty): Limit speculative trading due to XRP’s volatility.
• Halal Alternatives: Focus on spot trading with clear intent (e.g., converting for necessity, not speculation).

Recommended Actions

• Use DCA (Dollar-Cost Averaging) for gradual conversions.
• Prefer Shariah-compliant stablecoins if available.

FAQ

1. What’s the minimum XRP amount I can convert?

• Typically ~10 USDT equivalent (e.g., 20 XRP if priced at $0.50).

2. How long does conversion take?

• Market orders: Instant. Limit orders: Depends on price reach.

3. Are conversions taxable?

• Yes in most jurisdictions—consult a tax professional.

4. Is USDT halal?

• Controversial. Ensure reserves are non-interest-bearing if possible.

👉 Explore Binance’s advanced tools

Troubleshooting

Common Issues

• Insufficient Balance: Verify funds in Spot Wallet.
• Missing Deposit: Check XRP transaction ID and Destination Tag.
• App Glitches: Update the app or clear cache.

For unresolved issues, contact Binance Support via the app.

Alternatives to Spot Trading

1. Convert Feature: Simpler but slightly higher spreads.
2. P2P Trading: Direct USDT-to-fiat options (higher vigilance required).

Avoid: Futures, margin trading, and leveraged tokens (non-compliant with Islamic finance principles).

Final Notes

• Prioritize security and ethical compliance.
• For large conversions, monitor market liquidity to minimize slippage.