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How to Sell USDT to INR: A Step-by-Step Guide
Converting Tether (USDT) to Indian Rupees (INR) is straightforward if you follow these steps:
- Choose a Platform: Select a crypto exchange or P2P marketplace that supports USDT/INR transactions (e.g., WazirX, Binance).
- Create & Verify Your Account: Complete KYC by submitting ID proof and bank details.
- Deposit USDT: Transfer USDT from your wallet to the platform.
- Sell USDT: Place a sell order on the exchange or negotiate directly with a buyer on P2P.
- Withdraw INR: Transfer funds to your bank account via UPI, IMPS, or NEFT.
Top Platforms to Sell USDT to INR in 2023
- WazirX: Low fees (0.2% trading fee), instant INR withdrawals, and user-friendly interface.
- Binance P2P: Competitive rates, escrow protection, and multiple payment options.
- CoinDCX: High liquidity and 24/7 customer support.
- ZebPay: Trusted platform with fast settlements and robust security.
Factors to Consider When Choosing a Platform
- Fees: Compare trading, withdrawal, and conversion charges.
- Security: Opt for platforms with 2FA and cold storage.
- Liquidity: Ensure quick transactions with minimal price slippage.
- Payment Methods: Check support for UPI, NEFT, or RTGS.
Tips for a Smooth USDT to INR Transaction
- Verify buyer/seller ratings on P2P platforms.
- Time your sale during high market liquidity for better rates.
- Keep records for tax compliance (30% tax + 1% TDS in India).
FAQs About Selling USDT to INR
1. Is selling USDT to INR legal in India?
Yes, but profits are taxed at 30%, and a 1% TDS applies on transactions.
2. How long does an INR withdrawal take?
Most platforms process withdrawals within 2-24 hours.
3. Are there transaction limits?
Yes, limits vary by platform and account verification level.
4. Can I sell USDT without KYC?
No—Indian exchanges require KYC for INR transactions.
5. What are the risks?
Price volatility, scams on P2P, and tax penalties for non-compliance.
