Do you want to cash out from Binance to your bank account? How to transition from Binance to a safe wallet? Traders on Binance have a wide range of tools that allow them to capitalize on the massive cryptocurrency market. How is the money taken out? Do you have minimum requirements?
So, if you want to know how to sell your Binance cryptocurrency and withdraw your funds or how to transfer your Binance cryptocurrency to another exchange, keep reading! Next, we’ll delve into the withdrawal procedure and break it down.
How to Withdraw from Binance
Making a withdrawal from your Binance account can seem daunting at first, but the process will become second nature after your first attempt. Never leave your cryptocurrency or fiat currency stored in exchange for an extended period. All centralized exchanges, such as FTX, Huobi, or Kraken, are subject to this rule.
It’s best practice to withdraw fiat funds and store them in a Hardware cryptocurrency; hardware wallets like the Keep Nano S and Nano X, Trezor are hardware wallet, you can store your cryptocurrency offline, away from hackers. We recommend Exodus and Trust Wallet as two excellent free alternatives.
How to Withdraw Money from Binance to a Bank Account?
The options available to withdraw money from Binance back into your bank account will change depending on the types of fiat currencies you wish to withdraw, as well as the location from which you are withdrawing the money. In this example, we will use GBP, and we will withdraw the funds to a bank card.
The withdrawal process and the payment method may be different if you are withdrawing Euros, for example, because you may have more payment methods available.
1.Log into Binance: Begin the process of withdrawing funds from Binance by going to Binance.com; alternatively, if you are located in the United States, use Binance.us.
- Go to Binance’s “Fiat and Spot” Page: Go to “Wallet” at the very top of the Binance homepage, and then select “Fiat and Spot” from the drop-down menu that appears.
- Choose Fiat Currency to Withdraw: Simply choose the Fiat or Cryptocurrency Balance corresponding to the amount of money you wish to withdraw, and then click the “Withdraw” button.
- Select Withdrawal Method:
After that, you will be brought to the withdrawal page for Binance, where you will be prompted to select a payment method suitable for your withdrawal.
For this illustration, we are withdrawing from a bank card (Visa), which incurs a transaction fee of 1%. On the other hand, the payment methods and costs will differ for each of the fiat currencies you choose to withdraw.
- Enter the Withdrawal Amount
If you want to withdraw the maximum amount possible from your fiat balance, you can either enter the amount you want to withdraw or click the ‘Max’ button. You can learn about any restrictions by selecting the I icon.
- Add Beneficiary’s Information
You can add your credit card by selecting “Add New Card” and “Continue.” After that, enter your billing information.
This step will be different for you depending on the payment method; for example, if you are making a bank transfer, you may be required to enter the details of the receiving account.
- Confirm Withdrawal from Binance
When ready, choose the “Continue” option from the menu. Before you are allowed to withdraw money, you might be asked to complete additional security verification, such as entering a Google verification code, depending on the method that you use for 2-factor authentication.
After the withdrawal confirmation, the funds will be deposited into your bank account, credit, or debit card. Any withdrawals you make will be shown in your account’s “Recent Withdrawal History” section.
How do you Withdraw Crypto from Binance?
This tutorial will show you how to withdraw cryptocurrency from Binance. The crypto will be sent to the wallet you specify once these steps are complete.
Getting your funds out of Binance is simple and fast, so you can start using your crypto immediately.
- Log into your Binance account.
- Choose “Wallet” & then “Fiat and Spot.”
- Select the Cryptocurrency
- Select “Withdraw” under the “Action” tab,
- Enter the recipient’s address in the “Address” field
- Choose the “Network”
- Enter the Withdrawal Amount
- Copy & Paste the Address
- Choose “Send Code”
- Enter Binance 2FA code
Step 1: Log into Binance
Sign in to Binance.com, click “Wallet” in the menu bar, and then click “Fiat and Spot” to get started.
Step 2: Choose the Cryptocurrency
Clicking this will show you the current value of your cryptocurrency and fiat currency holdings. To withdraw a specific token, click the “Withdraw” button after selecting.
Step 3: Enter the Recipient’s Address
To make a crypto withdrawal, a page asking for the withdrawal ‘Address’ will load after displaying your available cryptocurrencies. Put the address you got when you scanned the QR code for your external wallet here.
Step 4: Enter the Amount
Enter a specific amount belowfullect ‘Max’ to withdraw the maximum balance. The amount field will have any required minimums already entered.
Your total crypto withdrawal amount, including fees, will be displayed on the screen.
Step 5: Confirm your Withdrawal
When ready, click the “Submit” button to send your withdrawal request. You may be asked to verify your identity before the withdrawal is finalized if you use a 2-factor authentication method.
Your withdrawal will appear in the “Recent Withdrawal History” section of your account as soon as your withdrawal is processed.
How to Withdraw GBP from Binance?
There may have been problems withdrawing British pounds from Binance to your bank account if you have been using Binance in the UK. No limits should be placed on the amount of GBP you can deposit or withdraw from your bank.
Binance Withdrawal Fees
Binance stands out among other exchanges due to its low fees. Compared to other exchanges, which can charge as much as 4%, their fees are typically much lower. High withdrawal and network fees directly impact profits and should be considered. Unlike deposits, withdrawals from Binance are charged a cost proportional to the type of cryptocurrency being withdrawn rather than the amount withdrawn. Please be aware that the cost of withdrawing may change if the network is bustling. Binance Withdrawal Fees are subject to change, but you can check the latest rates here.