How to Sell USDT for LKR in Sri Lanka with CeyFi

TL;DR

To sell USDT in Sri Lanka with CeyFi, hold the USDT in a Binance, Bybit or KuCoin account. Create a CeyFi account, verify your NIC or passport with a selfie, and add a bank account in your own name. Enter the USDT amount, pick Binance Pay, Bybit Pay or KuCoin Pay, and approve the payment in your exchange app. CeyFi holds the quote for 30 seconds. CeyPay says payouts are usually instant, but the app's status screen says the money usually arrives within 15 minutes. CeyFi has not published its sell fees or limits. They show on your quote.

Disclosure: CeyFi links in this article use my referral code. If you sign up through one, we both earn Pills, CeyFi's reward points. uvin.lk, my Bitcoin education site, uses CeyPay's merchant gateway.

What do you need before you start?

You need four things. Check them before you open the app.

• USDT in an exchange account. CeyFi sells from a Binance Pay, Bybit Pay or KuCoin Pay balance. Its fee sheet lists "Receive USDT into wallet" as free, but I found nothing on selling from the app's own wallet. Not sure what USDT is? Read what USDT is, explained simply.
• Your NIC or passport. CeyFi uses these to verify who you are.
• A bank account in your own name. CeyFi pays only to an account in your own name. It will not pay a friend's account.
• A phone with Face ID or a fingerprint. The app asks you to add a passkey before your first payment. A passkey is a login saved on your phone.

Also have your exchange app installed and signed in. You approve the sale there.

How do I sell USDT with CeyFi? Step by step

These steps follow the screens CeyFi shows and the CeyPay launch post. Button labels may differ a little. If a screen differs from what I describe, follow the screen.

Step 1: Create your account

1. Open the CeyFi app at finance.ceypay.io in your phone browser. Use the address you typed or my referral link↗, and check the address bar. Fake sites copy real ones.
2. Choose how to sign in. The app offers a passkey, Google, email or mobile number.
3. Add a passkey when the app asks. It says this is needed before your first payment.

If you want my referral code to count, use the link before you create the account. The app stores the code in your browser until you sign up, so use the same browser.

Step 2: Verify your identity

This is one item on CeyFi's setup checklist. A company called Didit does the check.

1. Photograph your NIC or passport.
2. Take a quick selfie. The app calls this a liveness check. It matches your face to your ID.

The app says this takes about two minutes. Use good light and keep the ID flat.

This step is known as KYC, short for "know your customer". CeyFi needs it before you sell USDT, add a bank account or receive money.

Step 3: Add your bank account

Add a bank account in your own name. CeyPay says more than 25 Sri Lankan banks are supported. I could not see the full list without an account. Check that yours is on it before you plan a sale.

The name on the bank account should match your own name. CeyFi says it pays only to an account in your own name.

Step 4: Enter the USDT amount

Enter how much USDT you want to cash out. Your account shows your limits. They depend on your verification level, and CeyFi does not publish them. There is a limit per sale and a limit per day.

Start with a small amount on your first sale. You are testing the whole path.

Step 5: Pick your exchange

Pick Binance Pay, Bybit Pay or KuCoin Pay. Choose the exchange where your USDT sits.

Step 6: Read the quote

CeyFi shows one all-in USDT amount before you confirm. It holds that amount for 30 seconds (CeyFi app↗).

Read it before the clock runs out. The fees are on the quote. The app is built to show up to three lines: an exchange fee, a CeyPay fee, and a fixed bank transfer fee in rupees. I have not seen the numbers, because they appear only after sign-in.

The app header also shows a rate, written as "1 USDT = Rs ...". It changes, and it is only a guide. The quote is what counts.

Step 7: Approve in your exchange app

Approve the payment inside your exchange app. This is the step that moves your USDT. Read what the exchange asks you to confirm. Check the amount.

If the 30 seconds run out, ask for a new quote. Do not approve an old one.

Step 8: Wait for the rupees

CeyPay says rupees reach your bank as soon as you approve the payment (CeyPay launch post↗). The app's label reads "Usually Instant".

The app's own status screen is more cautious. It says the money "usually arrives within 15 minutes", that after 3 pm "it may arrive the next business day", and that CeyFi's team "checks larger transfers before sending them".

These are the company's claims. Check your bank app, and note how long it really took.

Try CeyFi: sign up at finance.ceypay.io↗. This is my referral link. If you use it when you create your account, we both earn Pills, CeyFi's reward points. CeyFi has not published what a Pill is worth.

How much will I get? A worked example

This is an example only. The rate below is made up. It is not today's rate and not CeyFi's rate.

Say Amal sells 100 USDT. Suppose the rate is Rs 300 for each USDT. That is 100 × 300 = Rs 30,000.

CeyFi says its quote is all-in. So any exchange fee, CeyPay fee or bank transfer fee on the quote is already counted. Amal receives Rs 30,000 minus those fees. I cannot give you real fee numbers, because CeyFi has not published them.

So do this: read the rupee amount the quote says you will receive, and compare it with what you could get another way. One way is selling on a peer-to-peer market. I explain that route in P2P crypto and frozen bank accounts.

What can go wrong?

Most problems have a simple cause. These are the ones I can name.

• The quote expires. It lasts 30 seconds. Ask for a new one.
• Your limit is too low. Limits depend on your verification level. The app tells you to email support to raise them. CeyFi may ask for proof of address, such as a utility bill or bank statement from the last three months. It may also ask where your USDT comes from.
• Your bank is not supported. Check before you sell.
• The payout is slow. "Usually Instant" is not a promise. After 3 pm, the app says the money may arrive the next business day, and larger transfers are checked first. Contact support if the rupees do not arrive.
• The exchange blocks or delays the payment. CeyFi cannot control that. Exchanges carry their own risk. See what Sri Lankan users should do after the Binance hack.
• You expected to sell from a wallet. The fee sheet shows the CeyFi wallet can receive USDT, but I found nothing on selling from it. Move the USDT to your exchange first.

For help, CeyFi points to a Telegram group and the email [email protected].

What does the law say?

CBSL, the Central Bank, issued a notice on 29 March 2023. It said CBSL "has not authorized any [...] cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency" (CBSL↗).

CeyFi's footer says its regulatory status as a Virtual Asset Service Provider is "pending confirmation under Sri Lanka's evolving regulatory framework" (CeyFi app↗).

The CBSL Governor spoke at the Sri Lanka FinTech Festival on 3 November 2026. He said: "Under the current legal framework in Sri Lanka, digital assets, also called virtual assets, cannot be used for payments between residents" (CBSL speech↗).

This is not legal advice. I cannot tell you whether a sale is lawful for you. Read is it legal to sell USDT in Sri Lanka for the primary quotes, and Sri Lanka's cryptocurrency regulation in 2026 for the wider picture.

Try CeyFi: sign up at finance.ceypay.io↗. This is my referral link. If you use it when you create your account, we both earn Pills, CeyFi's reward points. CeyFi has not published what a Pill is worth.

Quick answers

Do I need a CeyFi account to sell USDT?

Yes. You need an account and a verified identity to sell USDT. Paying bills and reloads works without one.

Can I sell USDT from my own wallet?

CeyFi's launch post describes selling only from a Binance Pay, Bybit Pay or KuCoin Pay balance. The fee sheet lists "Receive USDT into wallet" as free, but I found nothing on selling from that wallet. Move your USDT to one of those exchanges first.

How long does the money take?

CeyPay says payouts are usually instant. The app's status screen says the money usually arrives within 15 minutes, and after 3 pm it may arrive the next business day. Nobody outside the company has tested it, so time your first sale.

What does it cost?

CeyFi has not published its sell fees. The app says fees appear on every quote before you confirm. Exchange fees are set by the exchange.

Can I send the rupees to someone else's bank account?

No. The app pays only to a bank account in your own name.

What I could not verify

• The sell fee, the daily and per-sale limits, and the minimum sale. They show only on a signed-in quote.
• The list of supported banks. CeyPay says more than 25, but I could not see it.
• Real payout times.
• Whether USDT received into the CeyFi wallet can be sold.
• The exact button names and screens after sign-in. I describe the steps from CeyFi's launch post and its public pages.

Key Takeaways

• Hold your USDT in a Binance, Bybit or KuCoin account first. CeyFi documents no way to sell from its own wallet.
• You need a CeyFi account, NIC or passport with a selfie, and a bank account in your own name.
• The quote is held for 30 seconds. Read the final rupee amount before you approve.
• Sell fees and limits are unpublished. Test with a small amount first.
• CeyPay says payouts are usually instant. Its status screen says usually within 15 minutes, or the next business day after 3 pm. Time your first one yourself.
• CeyFi says its regulatory status is pending. Read the legal section before you decide.

About the Author

I'm Uvin Vindula — a Web3 and AI engineer based between Sri Lanka and the UK, founder of uvin.lk↗, Sri Lanka's Bitcoin education platform, and author of The Rise of Bitcoin. I write plain-English guides so Sri Lankans can use crypto without getting burned. This is education, not financial advice. See my work at iamuvin.com or reach me at [email protected]↗.