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USDT to Bank Account: Step-by-Step Guide & Transcript

0h 08m video Published Sep 18, 2024 Transcribed Aug 9, 2026 V VTech Vipul
Beginner 4 min read For: Indian cryptocurrency users who hold USDT on Binance and want to convert it to INR directly in their bank account.
AI Trust Score 70/100
⚠️ Average / Some Fluff

"Delivers exactly what the title promises: a clear, live demonstration of USDT withdrawal to a bank account, though with some repetitive explanations."

AI Summary

This video provides a step-by-step guide on how to withdraw USDT from Binance directly to a bank account in Indian Rupees, using the CoinDCX exchange as an intermediary. The presenter demonstrates the entire process live, from transferring USDT via the TRC20 network to selling it for INR and withdrawing to a linked bank account, while also noting the applicable taxes (TDS and capital gains).

[00:03]
Direct Bank Withdrawal in Rupees

The video explains how to withdraw Binance USDT directly to a bank account in Rupees without using P2P, avoiding the risk of P2P scams and frozen accounts.

[00:18]
Tax Implications

Following this process, 1% TDS is deducted and 30% capital gains tax is charged on the withdrawal.

[00:46]
Live Demonstration

The presenter shows a live withdrawal of 38 USDT from Binance to a bank account, using the CoinDCX app.

[01:19]
Create CoinDCX Account

Users need to download and create an account on CoinDCX, where KYC is completed immediately.

[01:45]
Initiate Withdrawal from Binance

In Binance, go to the withdrawal section, select USDT, and choose 'Send via Crypto Network'.

[02:24]
Get Deposit Address from CoinDCX

In CoinDCX, go to the 'Fund' option, select 'Crypto', choose the 'Recommended' network (TRC20), and copy the generated deposit address.

[03:09]
Send USDT via TRC20

In Binance, paste the CoinDCX address, select TRC20 network, enter the amount (max), and confirm the withdrawal.

[04:07]
Deposit Verification

After the transfer, the deposit appears in CoinDCX, but may require submitting deposit details (e.g., confirming it's from your own wallet).

[05:44]
Link Bank Account

Add your bank account in CoinDCX; it gets linked within 24 hours.

[05:59]
Sell USDT for INR

In the CoinDCX market, search for USDT, click 'Sell', enter the amount, and swipe to sell at the estimated price.

[07:01]
Withdraw INR to Bank

After selling, go to the 'Withdraw INR' option, enter the amount, and confirm; the money is credited to the bank account immediately.

Mentioned in this Video

Tutorial Checklist

1 00:46 Open Binance app and ensure you have USDT in your wallet.
2 01:19 Download and create an account on CoinDCX; complete KYC.
3 01:45 In Binance, go to Withdraw, select USDT, and choose 'Send via Crypto Network'.
4 02:24 In CoinDCX, go to Fund > Crypto, select the Recommended network (TRC20), and copy the deposit address.
5 03:09 In Binance, paste the address, select TRC20, enter the amount (max), and confirm the withdrawal.
6 04:07 Wait for the deposit to appear in CoinDCX; if prompted, submit deposit details confirming it's from your own wallet.
7 05:44 Add your bank account in CoinDCX (linked within 24 hours).
8 05:59 In CoinDCX market, search USDT, click 'Sell', enter the amount, and swipe to sell.
9 07:01 Go to 'Withdraw INR', enter the amount, and confirm; funds are credited to your bank account immediately.

Study Flashcards (6)

What is the TDS rate deducted on USDT withdrawal to a bank account?

easy Click to reveal answer

1% TDS is deducted.

00:33

What is the capital gains tax rate on USDT withdrawal?

easy Click to reveal answer

30% capital gains tax is charged.

00:33

Which network is recommended for transferring USDT from Binance to CoinDCX?

easy Click to reveal answer

TRC20 network.

02:37

What are the two options available in Binance when sending USDT?

medium Click to reveal answer

Send via Crypto Network and Send via Email/Phone ID.

02:12

What should you do if the deposit details are required in CoinDCX?

medium Click to reveal answer

Click 'Submit Deposit Details', confirm if it's from your own wallet, and select the purpose of transfer.

04:20

How long does it take for a bank account to be linked in CoinDCX?

easy Click to reveal answer

Within 24 hours.

05:44

💡 Key Takeaways

💡

Avoid P2P Scams

Highlights a safer alternative to P2P trading, which can lead to frozen bank accounts.

00:18
📊

Tax Transparency

Clearly states the tax implications (1% TDS and 30% capital gains), which is crucial for compliance.

00:33
🔧

TRC20 Network Selection

Emphasizes the importance of selecting the correct network to avoid loss of funds.

02:37
🔧

Deposit Details Submission

Shows a common step where users must verify the source of funds, a key compliance requirement.

04:20
📊

Immediate Bank Credit

Demonstrates the speed of withdrawal, with funds credited instantly to the bank account.

07:01

[00:03] directly to your bank account in Rupees, that too without Pitu Pee because you also know that if you do Pitu Pee then you can get trapped in Pitu Pee scam, that is, your bank account can be frozen, you must have also heard this, so

[00:18] friends, in today's video I will explain to you the process of how you can withdraw Binance USDT directly to your bank account in Rupees, so also like to tell you that if you follow this process, then your

[00:33] follow this process, then your TDS will be deducted on 1 and you will be charged capital gains tax on 30, okay, so now without wasting time let's go to our mobile screen and learn what this process is,

[00:46] screen and from here I will open my Binance application and here you can see that I have 38 USDT in my Binance wallet, so I will withdraw it live directly to my bank account and show it to you, so friends You have to

[01:01] show it to you, so friends You have to download an application here, how to withdraw USDT from Binance directly to your bank account through Vazor X, you will your bank account through Vazor X, you will

[01:19] create an account in Coin DC, I will open Coin DC here, as soon as you create an account here, your KYC will be done immediately, okay, so your interface will look something like this in Coin DC, so you have to come back to your Binance

[01:33] application, so the question is how to how to withdraw this USDT directly to your bank account through Coin DC, there

[01:45] you will see two options below, deposit and withdrawal,

[01:57] list has come and we have USDT and it is also showing how many USDT are lying simply click here, now as soon as you click, two options will appear here, send via Crypto Network and Send via Email Phone ID: You have to

[02:12] soon as you click on Send via Crypto Network, an interface will open in front of you like this. Here you can see the address above, which you have to scan or paste. So which address do you have to enter here? You have to

[02:24] go to Coin DCA here. Below you will see the Fund option, this plus one, you have to click here. As soon as you click here, two options are visible here: IR and Crypto. You have to go to the Crypto option.

[02:37] Below you can see, click on the Recommended option. Here you can see that it is written Network OK BP 20, so here you have to select TRC 20 and after that you have to submit here. Your QR code will be

[02:54] generated here. So you have to copy this address from here. I have copied it from here. After that, we had selected TRC 20 there in the network, so here also we will select TC 20 only,

[03:09] after that here how many USDT do you want to send in Coin DCA, so here I want to send all of it, so I will max it, you have to type how much you want to send, so I will max it here and

[03:22] send all of it, after that you will do withdrawal below here, after that you have to confirm here, you have to check that it is TRC 20 only, you have to check once how many withdrawals you have,

[03:38] after that here you have Binance, it will you will see an interface like this, withdrawal processing, ok, after that go to view history here, then you will see the history of how many USDT you have

[03:53] sent here, ok, so here we come directly to Coin DCA, from here we will in a short while whatever is there in the transaction will be visible here, the number of USDT that you have sold from there will be visible here, so I will keep

[04:07] refreshing here, so here you can see that it has come down as Deposit 303 USDT, okay, right now it is showing in verification, so I will refresh here again, so friends, here you can see that it is written below that 'Details Required', so

[04:20] this means that you have to provide the details of the USDT that you have sent, so if okay, so here now we have to enter the details, you have to click on ' so I will click on 'Submit Deposit Details' here, then the

[04:35] will click on 'Submit Deposit Details' here, then the USDT that you have sent has come from your own wallet, so here you have to click on 'Yes', if it has been sent from someone else's wallet, then you have to say 'No', okay, so here if If you say no, then

[04:49] you have to enter here the name of the person from whose wallet you have deposited, what is his date of birth, select the purpose i.e. why you have transferred, if it has from my Binance then I will say yes here and select the purpose of transfer, so

[05:04] here I will enter that transferring from my own wallet to Coin DC, because it has come to so I will select the second option, if there is any other reason then you can select more, so I will select here and after ticking on the I acknowledge option,

[05:18] I will click on submit details, as soon as you do this, your USDT will immediately start appearing here, you can see this, 303 USDT will start appearing here and I have also received an email that your USDT has been

[05:31] successfully deposited in Coin DC and its current value is also showing here, 26000 There is something, it is showing here, so now we have just transferred USDT here, now how will we take it to our

[05:44] you have to add your bank account in Kin DCA, okay, within 24 hours account will also be linked here, after that you have to come to the market option here, okay, come to the market option, after that you have to

[05:59] come to the market option, after that you have to search USDT here, okay, you have to search USDT here, so here you can see that okay, so here below you will see two options of buy and sell, so here you have to

[06:13] click on the sell option, so as soon as you click on the sell option, then see an interface like this, here you can see how much balance you have in USDT, 30318 9, okay, so you have to enter here how much USDT you want to sell here,

[06:28] transferred here, after that we have to sell the USDT here, okay, so here we will enter 30319, okay, I will sell it here and I will swipe here, so you can see that

[06:46] our USDT has been sold at the estimator price of 86.4 and we have got ₹10.64 here, so I will click on done from here, okay, so friends, our come to home, so you can see how much our fund is, it is 25000 840 something, so

[07:01] now we will withdraw it to our bank account, options, withdraw INR and deposit INR, so we have to

[07:15] enter how much money you want to withdraw from this fund, so here you can see my bank account is linked, it is showing here and above you You have to it is showing here and above you You have to enter the amount how much withdrawal you want,

[07:31] here is the withdrawal, so here I give continue withdrawal, our withdrawal request has been received here and you can see above that it will be

[07:44] credited to our bank account immediately, you can see this, the message from our bank account has also come, you can see this, so immediately the

[07:56] and you are taxed on capital gains on 30, so can withdraw USDT directly to your bank account in this way, so friends, I hope that you must have

[08:08] understood that if you have USDT in Binance USDT or any wallet, then how to withdraw it directly to your bank account, so I hope that you liked the video, so do like the video, comment below the video and do not forget to

[08:22] in the next video, till then Take care by Jai Hind Jai Bharat

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