Cryptocurrency users in China often seek efficient ways to convert their digital assets into usable fiat currency. One common scenario involves withdrawing USDT (Tether) from the Huobi exchange and receiving the funds in local payment methods such as WeChat Pay, Alipay, or directly into a Chinese bank account. This guide walks you through the entire process with clear, easy-to-follow steps—while also explaining key concepts like OTC trading, spot accounts, and fund transfers between account types.
Whether you're new to crypto or looking to refine your withdrawal strategy, this article ensures you understand each phase securely and efficiently.
Understanding OTC vs. Spot Trading on Huobi
Before initiating any withdrawal, it's crucial to understand how different trading systems work on Huobi. The distinction between OTC (Over-The-Counter) and spot (coin-to-coin) trading affects how you move and cash out your USDT.
What Is OTC Trading?
OTC allows direct peer-to-peer transactions between buyers and sellers using fiat currencies like CNY (Chinese Yuan). You can sell USDT directly for RMB, which gets transferred to your bank card, Alipay, or WeChat.
This is the primary method for converting USDT into usable RMB within China’s regulatory environment.
What Is Spot Trading?
Spot trading refers to exchanging one cryptocurrency for another—such as trading USDT for BTC, ETH, or altcoins—on the open market.
Key features:
- No direct RMB deposits or withdrawals.
- Supports high-frequency, real-time trading.
- Offers access to a wide range of cryptocurrencies.
- Enables leveraged trading (long/short positions).
- Operates through a dedicated spot trading account.
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Key Differences Summary
| Feature | OTC Trading | Spot Trading |
|---|---|---|
| Fiat Support | ✅ Yes (CNY/RMB) | ❌ No |
| Crypto Variety | Limited to major pairs | Wide range of altcoins |
| Transaction Speed | Manual, user-dependent | Millisecond-level execution |
| Use Case | Cash out to RMB | Trade between digital assets |
To withdraw USDT as RMB, you must transfer funds from your spot account to your OTC (legal currency) account, then proceed with a sale.
Step-by-Step: Transfer & Withdraw USDT to WeChat, Alipay, or Bank Card
Follow these structured steps to successfully convert your USDT into accessible RMB.
Step 1: Set Up Your Payment Methods
Before selling, ensure your preferred receiving method is registered:
- Log in to your Huobi account.
- Go to User Center > Security Settings > Payment Management.
Add your:
- Bank card (with correct bank name and branch)
- Alipay account (linked phone number must match)
- WeChat Pay (verify ownership via mini-programs or QR codes)
These will be used by buyers when paying you during OTC sales.
Step 2: Navigate to Your Spot Account
From the dashboard:
- Locate the Spot Account section.
- Confirm your USDT balance (e.g., 34 USDT).
At the bottom, you’ll see three options: Deposit, Withdraw, and Transfer.
Note: “Withdraw” here means sending USDT to an external wallet or exchange—not converting to RMB. To cash out in CNY, use Transfer instead.
Step 3: Transfer USDT from Spot to OTC Account
- Click Transfer.
Select:
- From: Spot Account
- To: OTC Account
- Enter the amount (manually or click "All").
- Confirm the transfer.
✅ Once confirmed, the system will show "Transfer Successful."
You now have USDT in your OTC wallet, ready for sale.
Step 4: Sell USDT via OTC Marketplace
- Go to OTC Trading section.
- Click on Sell USDT.
Choose your preferred payout method:
- Bank Transfer
- Alipay
- WeChat Pay
- Set your selling amount (e.g., 34 USDT).
Select the appropriate transaction range:
- Under ¥1000 → choose ¥100–1000 bracket
- Larger amounts → select higher tiers
The platform will display all active buyers ranked by price (highest first). Higher bids mean better exchange rates.
Select a reputable seller based on:
- High completion rate (>95%)
- Sufficient trade volume
- Positive feedback history
Click Sell Now to proceed.
Step 5: Complete the Transaction
After selecting a buyer:
- Enter the exact amount of USDT you wish to sell.
- Click Place Order.
Next:
- Wait for the buyer to make payment.
- Check your Alipay, WeChat, or bank app for incoming funds.
- Once confirmed, click Release USDT to complete the trade.
⚠️ Never release coins before confirming receipt of RMB. Scammers may send fake payment screenshots.
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Frequently Asked Questions (FAQ)
Q1: Can I directly withdraw USDT as RMB to my bank account?
No. Huobi does not support direct fiat withdrawals. You must use the OTC marketplace to sell USDT to a buyer who pays you via bank transfer, Alipay, or WeChat.
Q2: How long does an OTC transaction take?
Most transactions complete within 15–30 minutes, depending on buyer responsiveness. Always communicate promptly through Huobi’s chat system.
Q3: Are there fees for transferring or selling USDT?
Transfers between spot and OTC accounts are free. OTC trades typically have no listing fees, but check Huobi’s latest fee schedule for updates.
Q4: Is it safe to sell USDT via OTC?
Yes—if you follow safety protocols:
- Only trade with users having high reputation scores.
- Avoid deals outside the platform.
- Use two-factor authentication (2FA).
- Never share personal info beyond what’s required.
Q5: Why can’t I see WeChat Pay as an option?
Ensure you’ve fully verified your identity and linked a Chinese mobile number. Some features are restricted for unverified or international accounts.
Q6: What happens if a buyer doesn’t pay?
Huobi holds the USDT in escrow. If the buyer fails to pay within the time limit, the order cancels automatically, and your funds are returned.
Final Tips for Smooth Transactions
- Start with small test trades (e.g., ¥100) to verify payment methods.
- Keep transaction records and screenshots until funds clear.
- Monitor market prices; avoid accepting offers significantly below current rates.
- Consider using OKX or other regulated exchanges if Huobi access becomes limited.
👉 Compare real-time USDT/CNY rates and trade securely across markets
Conclusion
Withdrawing USDT from Huobi to domestic payment channels like WeChat, Alipay, or a Chinese bank card is straightforward once you understand the role of OTC trading and account transfers. By moving funds from your spot account to your OTC wallet and completing peer-to-peer sales safely, you gain full control over your crypto-to-fiat conversions.
Always prioritize security, verify counterparties, and stay updated on platform policies. With careful execution, this process can become a reliable part of your digital finance routine.
Note: This guide is for informational purposes only. Cryptocurrency regulations may change; always comply with local laws.