Are you looking to sell your crypto and withdraw from Binance to a bank account? Or want to find out how to withdraw from Binance to a secure wallet? We will cover both options for you in this beginner’s guide.
So, keep reading if you’re considering selling and withdrawing money from Binance or moving your crypto from your Binance account! We’ll explore the withdrawal process in detail and explain exactly how it works.
How to Withdraw from Binance
The process of withdrawing from your Binance account can be complicated initially, but once you have done it once, you shouldn’t have any issues. It’s important to remember not to keep your crypto or FIAT stored on any exchange long-term. This applies to all centralized exchanges, including OKX, Huobi or Kraken.
Once you have finished trading, moving your crypto off exchanges and into the safety of a wallet or withdrawing fiat back to your bank account is recommended. One of the safest ways to store your crypto would be in a hardware wallet such as a Ledger Nano S, Nano X or Trezor. Hardware wallets allow you to keep your crypto assets offline and away from potential threats. If you want a free option, we like Exodus and Trust Wallet.
How to Withdraw Money from Binance to a Bank Account?
The options to withdraw money from Binance back to your bank account will vary depending on the fiat currencies you are withdrawing and your location. We will withdraw to a bank card in this example.<br><br>If you are withdrawing Euros (for example), the withdrawal process and payment method may differ, as you may have more payment methods available.<br>
Total Time: 10 minutes
Log into Binance
– To withdraw from Binance, start by going to Binance.com, or if you’re in the US, you will use Binance.us.
Go to Binance’s “Fiat and Spot” Page
– From the top of the Binance Home page, go to “Wallet” and select “Fiat and Spot“.
Choose Fiat Currency to Withdraw
– From the available Fiat and Crypto Balances, select the Fiat currency you wish to withdraw by selecting “Withdraw“.
Enter the Withdrawal Address, Network & Amount
– On the crypto withdrawal page, enter the withdrawal “Address“. You can do this by copying (or scanning the QR code) the “Receive” address.
– Also, select the network you want to use for the withdrawal. Please make sure the recipient address supports the network you choose.
– Enter the amount you want to withdraw, or click “Max“. Any minimum withdrawal amounts will be pre-populated in the “Amount” field. The fees for withdrawing your crypto will be shown on the screen as the total amount you will receive.
In this example, we’re withdrawing to a Bank Card (Visa) with a transaction fee of 1%. However, the payment methods and fees will vary depending on the fiat currencies you are withdrawing.
Enter Withdrawal Amount
– Enter the amount you want to withdraw, or click on ‘Max‘ to withdraw all your available fiat balance. Any limits can be found by choosing the “i” icon.
Add Beneficiary’s Information
– Add your bank card by choosing “Add New Card” and “Continue“, followed by your billing details.
This step will vary depending on your payment method, and you may need to enter your receiving account details for a bank transfer.
Confirm Withdrawal from Binance
– When you are ready, select “Continue“. Depending on your 2-factor authentication method, you may be requested to complete security verification (such as entering a google verification code) before withdrawing money.
After the withdrawal confirmation, your fiat will reach your bank account, credit, or debit card. Any withdrawals will be displayed under your “Recent Withdrawal History“.
How to Withdraw Crypto from Binance
If you want to withdraw crypto from Binance, you need to follow the steps outlined in this guide. Once you’ve completed these steps, your crypto will be on its way to your chosen wallet.
Withdrawing crypto from Binance is quick and easy so that you can use your crypto assets 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
- Log into Binance
– To get started, log into Binance.com
- Go to “Wallet” & then “Fiat and Spot.”
– Go to “Wallet” at the top of the screen, and select “Fiat and Spot” from the dropdown menu.
- Choose the Cryptocurrency & Select Withdraw
– This will then display a list of all your Fiat currencies and Crypto balances. You can select the token you wish to withdraw by clicking “Withdraw“.
- Enter the Recipient’s Address
– The crypto withdrawal page will then display, where you’ll be prompted to enter the withdrawal ‘Address‘ to withdraw. Copy your ‘Receive‘ address from your chosen external wallet (or scan the QR code) and paste it into this field.
- Enter the Withdrawal Amount
– Enter the amount you want to withdraw, or click ‘Max‘ to withdraw all your available balance. Any minimum withdrawal amounts will be pre-populated in the ‘Amount‘ field.
The fees for withdrawing your crypto will be shown on the screen as the total amount you will receive.
- Confirm your Withdrawal
– Select “Submit” to submit your withdrawal request when you are ready. Depending on your 2-factor authentication method, you may be requested to complete security verification before the withdrawal is complete.
Once you have a successful withdrawal, these will be displayed under your “Recent Withdrawal History“.
If you’re looking for a UK crypto-friendly bank, check our guide on the best crypto-friendly banks in the UK.
Binance Withdrawal Fees
One thing that Binance is known for is its low fees. Their fees usually are significantly lower than other exchanges, which can charge up to 4% or more.
It’s important to factor in the withdrawal and network fees, as high fees quickly affect any profits. The fee you pay when you withdraw crypto from Binance will depend on the Cryptocurrency you are withdrawing and not necessarily the amount of crypto being withdrawn.
Please note: that withdrawal fees can change depending on factors such as network congestion. However, you can keep updated with the Binance Withdrawal fees here.
How Long Do Binance Withdrawals Take?
Binance withdrawal time will depend on a few factors, such as the cryptocurrency being withdrawn, the withdrawal amount, and how congested the network is. To minimize Binance withdrawal processing times, consider checking the network status of the crypto you want to withdraw. Try to avoid withdrawing from Binance during busy periods, especially when the network is congested.
Some reasons that might cause Binance withdrawals to take longer than anticipated are:
- Withdrawal Limits: Binance may impose daily or weekly withdrawal limits on specific cryptocurrencies or account levels. Withdrawals exceeding these limits might require manual processing, resulting in longer processing times.
- Network Congestion: High transaction volumes or congestion on the network can delay withdrawal processing.
- Technical Issues: Binance, like any other online platform, can face technical difficulties or downtime, affecting withdrawal processing times.
- Security Checks: Especially for large withdrawals or high-risk transactions, Binance may conduct extra security checks. These include manual reviews or user identity verification, which can increase processing time.
What is Binance?
Binance is one of the most popular cryptocurrency platforms. Allowing users to buy, sell, and trade various digital assets. Since early 2018, Binance has been considered one of the biggest cryptocurrency exchanges in the world in terms of trading volume. They support more than 500+ cryptos with 240+ trading pairs.
Binance is no longer just a crypto exchange; it has quickly become a one-stop shop for all things crypto. Their features include the likes of Binance Earn, Binance Academy, their own BNB token and network, the Binance Smart Chain. For more information about Binance, please check out our detailed Binance Exchange review.
What is the Binance Minimum Withdrawal Amount?
Again depending on the Cryptocurrency you’re looking to withdraw from Binance, there will be a minimum amount you can withdraw. The amount can also change depending on the network you are using.
Check out their page here to keep current on Binance minimum withdrawal amounts.
Thanks for the tutorial. I followed the process to withdraw BTC to my ledger wallet but here’s my problem. The fee I’m charged and on my ledger live receipt is over $100 when Binance only charge $15. I am unable to see where the difference has gone ?! On my second attempt I sent a larger amount with a similar – but not exact- outcome. The lack of transparency is infuriating so can you explain please? Thanks
When withdrawing from Binance, they will charge a withdrawal fee which is a set amount in BTC. When you withdraw from your Ledger you will be paying a fee but this will depend on how congested the network is at the time you are withdrawing and this is a variable amount.
So from the date you withdrew from Binance and date it was received did the price of BTC go up? With the volatility of BTC at the moment this could drive the fee up as your paying in BTC.