How do I sell USDT via P2P on the MEXC (formerly Manbi) exchange?

MEXC: The Former Manbi.com USDT Withdrawal Channel

Please note that “Manbi.com,” which you mentioned, has recently been renamed “MEXC Global.” Therefore, the primary method for selling USDT and exchanging it for local fiat currency on the MEXC exchange is through its P2P (peer-to-peer) trading platform.P2P trading allows users to directly trade cryptocurrency for fiat currency with other users, with the exchange acting as an intermediary to provide escrow and matching services.

Preparations Before Selling USDT via P2P

• Complete Identity Verification (KYC): Before conducting P2P trades or making withdrawals, users are typically required to complete the identity verification process in accordance with MEXC’s platform requirements.
• Link a Payment Method: You need to link your local bank account or e-wallet (such as Alipay, WeChat Pay, GCash, etc.) to your MEXC account to receive fiat payments from P2P transactions.
• Transfer Assets: Ensure that the USDT you intend to sell has been transferred from your “Spot Wallet” to your “Fiat Wallet” or “P2P Wallet.” This is typically done on the “Wallet” or “Assets” page of the MEXC app.

Detailed Steps for Selling USDT via MEXC P2P

Here is the specific step-by-step process for selling USDT via the P2P platform on the MEXC exchange:

1. Log in to the MEXC App: Open the MEXC mobile app and log in to your account.
2. Access the P2P Trading Section: On the app’s home screen or the “Wallet” screen, locate and tap the “Sell” or “P2P Trading” option.
3. Select the cryptocurrency and fiat currency: On the P2P trading screen, select USDT as the cryptocurrency you want to sell. Then, select the local fiat currency you wish to receive (e.g., USD, EUR, PHP, TWD, etc.).
4. Select a Suitable Merchant: The system will display a list of available P2P merchants. You can filter and select based on the following factors:
   • Price: The exchange rate offered by the merchant for USDT to fiat currency.
   • Transaction Limits: The minimum and maximum amounts per transaction set by the merchant; ensure these meet your selling needs.
   • Payment Methods: Check whether the merchant’s supported payment methods match the payment methods you have linked to your account.
   • Completion Rate and Ratings: Review the merchant’s historical transaction completion rate and user ratings to select a reputable merchant.

   

5. Create a Sell Order: Click on the selected merchant and enter the amount of USDT you wish to sell. The system will automatically calculate the fiat currency amount you will receive. After confirming the details are correct, click “Sell USDT” or a similar button to create the order.
6. Wait for the Merchant to Pay: After the order is created, the merchant will transfer the fiat currency to your designated receiving account within the specified timeframe. During this period, please maintain communication with the merchant using the platform’s built-in chat feature.
7. Verify Receipt: This is the most critical step. Before clicking “Confirm Receipt” on the MEXC platform, be sure to log in to your bank account or e-wallet and carefully verify that you have received the full fiat payment. Do not confirm receipt based solely on a screenshot of the transfer provided by the merchant or verbal notification.
8. Release USDT: After you have confirmed receipt of the full fiat payment, return to the MEXC platform and click the “Confirm Receipt” button. The system will release your locked USDT to the merchant, completing this P2P transaction.

Security Tips and Precautions

• Always Confirm Receipt First: In P2P transactions, never release USDT before confirming receipt of fiat currency; doing so may result in financial loss.
• Verify Payment Information: When linking your payment method and conducting a transaction, carefully verify information such as your bank card number and e-wallet account number to ensure accuracy.
• Beware of Scams: Be wary of any requests for offline transactions, transactions outside the platform’s escrow system, or requests to release USDT early under unusual circumstances.
• Withdrawal Fees and Limits: If you choose to withdraw USDT to another exchange or wallet, corresponding fees will be charged based on the selected blockchain network (for example, the fee for the USDT-TRC20 network is approximately 1 USDT, while the fee for the USDT-BSC network is approximately 0.5 USDT).The minimum withdrawal amount per transaction is typically 1.1 USDT. After completing advanced identity verification, the 24-hour withdrawal limit can reach the equivalent of 200 BTC. Processing times vary depending on network congestion but are generally quick.

By following the steps and security recommendations above, you can successfully sell USDT via P2P trading on the MEXC exchange.