How To Transfer Cryptocurrency From Binance To Coinbase

Many cryptocurrency traders use multiple trading platforms to meet their trading needs. Among the most well-known exchanges are Binance and Coinbase, but how do you transfer cryptocurrency from Binance to Coinbase?

It is becoming more typical for cryptocurrency owners to want to move their assets across networks due to the availability of a wide range of cryptocurrency wallets and exchanges.

It is simple and direct to transfer assets from one cryptocurrency platforms to another. Remember, though, that some professionals advise users to transfer money to a bitcoin wallet they control first so they have more specific blockchain data to exchange in case something goes to a wrong network.

These Are The Following Steps To Transfer Crypto From Binance To Coinbase

1st Step: You must first create both your Coinbase and Binance accounts in order to transfer funds from Binance to Coinbase.

Before sending cryptocurrency, new users must confirm that they have an active account on both Binance and Coinbase, as well as corresponding wallets from which they can send and receive funds. Both Coinbase and Binance’s registration procedures are simple, and both exchanges have ease of use for you to get begin.

In order to comply with regional laws, Coinbase or Binance may ask you for more specific identifying information depending on the area. Unverified accounts on Binance’s platform will only allow for a limited amount of trading and withdrawals, so they are typically not advised unless a user just wants to try trading without having to jump through all the hoops.

In order to increase security, both exchanges will probably do a transfer request that you set up two-factor authentication (2FA). By requiring a second verification, 2FA increases the security of logging into accounts and transferring assets. It can be set up on a smartphone app.

2nd Step: Finding Your Wallet Address.

You must choose the crypto wallet and cryptocurrency you want to send and receive once your account has been created on Coinbase and Binance.

Go to the assets tab on your Coinbase Dashboard to see a list of all the crypto assets you have on the exchange. Select the asset you want to transfer to your Binance account in this section.

For instance, clicking on Bitcoin will take you to Coinbase’s overview page for the cryptocurrency, which contains data on the price and market.

Go to the “Send/Receive” option on your Coinbase dashboard. Select the “Receive Tab” and the asset you want to send to Coinbase from this screen.

transfer cryptocurrency from binance to coinbase

Click the “Receive” tab and you will receive a reminder from Coinbase to make sure you choose the appropriate digital asset. Your money will frequently be lost if you send one crypto asset to a wallet address for another asset. Pay attention to the warning.

You can view a variety of pieces of information on the receive tab about which crypto asset you presently have chosen will be the first. Depending on what you want to transfer from Binance, you can change the asset.

Once chosen, you will see a QR code and wallet address for your chosen cryptocurrency. You can accept digital assets in your Coinbase wallet using either one.

You should use the wallet address to keep things simple. A display of your current balance for that crypto asset on Coinbase will also be visible.

To copy the wallet address you want, click the tiny squares next to it. As opposed to attempting to use your cursor to highlight the address, this is frequently simpler and less error-prone. Keep in mind that your assets will not be sent to the correct and unique address if you miss even one letter.

3rd Step: From Binance, Send Your Assets.

It’s time to send your assets from Binance once you have copied your Coinbase wallet address. Make sure your Binance account is active and that you are logged in.

You may be directed to the “Withdraw Fiat” tab when you first open your Binance wallet; to switch to the “Withdraw Crypto” tab, simply click the “Withdraw Crypto” button in the upper right corner.

Keep in mind that you should only send the relevant cryptocurrency to the wallet address. BTC has to stay in BTC. Which network you want to send your funds through will be asked of you by Binance. The BNB Beacon Chain, BNB Smart Chain, and the Bitcoin network are available Bitcoin transactions. While the others are tokenized versions of Bitcoin, the latter represents actual Bitcoin that can be deposited to Coinbase.

Binance To Coinbase Transaction Fees

According to the website, the Binance platform levies a withdrawal fee that varies depending on the currency.

“For each withdrawal, a flat fee is paid by users to cover the transaction costs of moving the cryptocurrency out of their Binance account,” says Binance. “There is also a minimum withdrawal amount that is different for each crypto asset. Withdrawal fees are determined by the blockchain network and can fluctuate due to factors like network congestion.

4th Step: Paste the Coinbase address into the withdrawal address field after choosing.

Enter the desired withdrawal amount after making sure the wallet address is the same as the one you copied from Coinbase. Choose the maximum amount if you want to transfer all of your assets from Binance to Coinbase. Click the “Withdraw button” after making sure that the amount is accurate.

Binance may ask you to enter your 2FA and confirm the transaction from your associated email account, depending on your level of security. This extra layer of security makes sure that no one can withdraw money from your account without your knowledge and permission.

5th Step: Verify the transaction on the Binance website.

When a transaction is confirmed, you can verify it was sent by visiting Binance’s “Transaction History” page. You can also look up the status of the transfer.

The time it takes for a crypto asset you sent to show up in your Coinbase wallet will depend on the crypto asset. Prior to the transaction becoming official, certain assets, such as Bitcoin, must be confirmed. Don’t worry if there is a delay before the funds appear on Coinbase; network usage and congestion can also affect how long it takes to transfer.

Important Reminders Regarding Crypto Transfers

While transferring crypto is frequently a necessary task, it is important to proceed with caution and only do so if you are certain of the procedure. Any errors could result in the total loss of your assets.

Binance does, in fact, issue the following caution:

Your assets will be lost forever if you choose the incorrect network or enter incorrect information when making a transfer process. Before making a transfer, kindly double-check the information.

Here are some things to keep in mind when sending cryptocurrency.

  • Verify that Coinbase lists the digital coins you want to transfer.
  • Even if you copy and paste the recipient address, double-check that it matches your Coinbase address.
  • Never send cryptocurrency to a different coin’s address. For instance, only send Bitcoin to your Bitcoin address.
  • Instead of sending all of your cryptocurrency at once, Coinbase advises sending a small amount to a new address. This will enable you to confirm that the transfer has been configured properly without sacrificing all of your cryptocurrency.
  • When choosing a network, Binance emphasizes that its users shouldn’t just go with the one with the lower fees. Choose a network that is appropriate for Coinbase instead.

What is the duration of the transaction?

The duration of the transaction depends on a number of variables. The exchange will transfer the funds to Coinbase once you have confirmed the withdrawal on Binance. It may take a few minutes to several hours, depending on network congestion and Coinbase’s network confirmation requirements.

The wallet on Coinbase will nevertheless display a “pending” deposit on your account once it detects an incoming transaction.

Read more: How To Transfer Crypto From Coinbase Wallet To Bank Account?

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