What is Binance?
In addition to being a safe and popular exchange, Binance also offers a range of other services, including margin trading, futures trading, and staking. Binance’s platform is user-friendly, making it accessible for beginners, while its advanced trading features make it suitable for experienced traders as well. Binance’s success has led the company to expand its offerings, including launching its own cryptocurrency, Binance Coin (BNB), and developing decentralized finance (DeFi) platforms.
Bybit allows you to leverage trade Bitcoin; by signing up with our link and making your first deposit, you can receive up to a $30,030 bonus! (Bonus may vary based on the deposit amount)
Claim up to $30,030 in Bonus
How to Withdraw Funds (FIAT) from Binance?
If you’re looking to withdraw money from Binance and back to your bank account, the process will depend on your location and the fiat currencies you wish to withdraw. For this example, we will use withdrawing GBP to a bank card.
Step #1 Log into Binance
To begin, navigate to Binance.com or Binance.us if you’re in the US, and log in to your account.
Step #2 Go to Binance’s “Fiat and Spot” Page
From the top of the Binance home page, select “Wallet” and choose “Fiat and Spot.”
Step #3 Choose Fiat Currency to Withdraw
Next, select the fiat currency you wish to withdraw from the available Fiat and Crypto Balances by clicking on “Withdraw.”
Step #4 Select the Withdrawal Method
On the Binance withdrawal page, choose your preferred withdrawal payment method. In this example, we’re withdrawing to a Bank Card (Visa) with a transaction fee of 1%, but fees and payment methods will differ based on the fiat currencies you’re withdrawing.
Step #5 Enter the Withdrawal Amount
Enter the amount you want to withdraw or select “Max” to withdraw your entire available fiat balance. If there are any limits, you can find them by clicking on the “i” icon.
Step #6 Add Beneficiary’s Information
Add your bank card information by selecting “Add New Card” and “Continue,” followed by your billing details. The steps may differ depending on your payment method, and you may need to enter your receiving account details for a bank transfer.
Step #7 Confirm Withdrawal from Binance
When you’re ready, click “Continue.” Depending on your 2-factor authentication method, you may need to complete additional security verification, such as entering a Google verification code, before withdrawing your money.
After confirming your withdrawal, your fiat will be transferred to your bank account, credit card, or debit card, and the withdrawal will be displayed in your “Recent Withdrawal History” on Binance. Remember that the process and payment methods may differ based on your location and the fiat currencies you’re withdrawing.
Click to Read: Binance proof of Reserves
How to Withdraw Cryptocurrency from Binance?
To withdraw your cryptocurrency from Binance exchange, follow these simple steps:
Step #1 Log in to your Binance account
To start, go to Binance.com and log in to your account. Then, click on “Wallet” at the top of the screen and select “Fiat and Spot”.
Step #2 Choose the cryptocurrency you want to withdraw
Next, you’ll see a list of all your fiat currencies and cryptocurrency balances. Click on “Withdraw” next to the cryptocurrency you want to withdraw.
Step #3 Enter the recipient’s address
On the crypto withdrawal page, you’ll be prompted to enter the withdrawal address. Copy the “Receive” address from your external wallet (or scan the QR code) and paste it into the field.
Step #4 Enter the amount you want to withdraw
Enter the amount of cryptocurrency you want to withdraw or click on “Max” to withdraw all your available balances. The minimum withdrawal amount will already be filled in for you.
Note that the fees for withdrawing your cryptocurrency will be displayed on the screen as the total amount that you will receive.
Step #5 Confirm your withdrawal
When you’re ready, click on “Submit” to confirm your withdrawal request. Depending on your 2-factor authentication method, you may be prompted to complete security verification before the withdrawal is complete.
Once your withdrawal is successful, you can view it under “Recent Withdrawal History” on Binance.
You can also sing-up on Binance today by clicking on the banner below and begin your trading journey.
Get 10% Discount Using This Link
In conclusion, withdrawing funds from Binance is an easy process that can be completed in just a few simple steps. Thanks to the platform’s user-friendly interface, even beginners can navigate it easily. However, it is important to be mindful of the fees incurred during crypto and fiat trades, as they can add up over time. By following the steps outlined in this guide and keeping track of your fees, you can safely and efficiently withdraw your funds from Binance with confidence.
Additionally, Binance’s commitment to security and regulatory compliance ensures that your funds are safe and secure during the withdrawal process. The platform employs a variety of security measures, including two-factor authentication, to protect against hacking and theft. Overall, withdrawing from Binance is a seamless process that allows you to quickly and securely transfer your funds to your desired destination.
Frequently Asked Questions (FAQS):
Yes, you can withdraw from Binance to your bank account.
Binance occasionally locks accounts if changes have been made to them recently. If you are having trouble withdrawing, you should reach out to the Binance support team.
You need to follow the above-mentioned process to withdraw from Binance US.
US citizens can enjoy services offered by Binance by visiting Binance.us.
Yes, you can withdraw money from Binance to PayPal.
The fee for crypto withdrawal varies depending on the network you are using. For bank withdrawals, it depends on the service you are using and also your bank policies.