Summary
The process for withdrawing funds on Binance depends on whether you want to withdraw crypto or fiat. Cryptocurrencies can be referenced on a variety of blockchains, so care must be taken to choose the right one.
The time required to withdraw funds varies depending on the method used. Each blockchain requires users to complete a certain number of confirmations before the withdrawn cryptocurrency is available. You can view transaction status using the corresponding blockchain browser.
Binance sometimes suspends withdrawal services due to technical upgrades. Binance will send notifications before technical upgrades. After troubleshooting all potential causes, if your withdrawal is still taking too long, please contact Binance customer service.
Introduction
If you want to transfer funds from your Binance account, you must go through the withdrawal process. The exact process varies depending on the blockchain and whether you are withdrawing crypto or fiat. The overall process is very simple, but care must be taken at every step to avoid accidental loss of funds.
How to Withdraw Cryptocurrency from Binance
In the example below, we will withdraw Binance Coin to Trust Wallet and demonstrate the detailed steps.
1. Log in to your personal Binance account. After successfully logging in, move the mouse to [Wallet] and click [Fiat Currency and Spot].
2. Click [Withdraw].
3. Click the [Cryptocurrency] tab and select the cryptocurrency you want to withdraw.
4. If the cryptocurrency is issued on multiple online platforms, please choose the platform to withdraw funds.
For example, Binance Coin is issued as a BEP-2 token on Binance Chain and as a BEP-20 token on Binance Smart Chain (BSC). Therefore, if you want to withdraw to a BEP-2 wallet address, please select the BEP-2 option. This step must be done with extreme caution! If you choose the wrong address, your cryptocurrency assets may be lost.
5. Click on Binance Coin in Trust Wallet.
6. Click [Receive].
7. Copy the Binance Coin address.
8. Paste it into [recipient’s BNB address] in the Binance withdrawal page. If everything is OK, click [Submit].
9. Click [Send Code] and enter the six-digit code received via email.
10. Enter the two-factor authentication (2FA) code. If everything is OK, click [Submit]. You will see withdrawals in your transaction history.
How to Withdraw Fiat from Binance
Binance supports over 60 fiat currencies and many different payment methods.
1. Log in to your personal Binance account. After successfully logging in, move the mouse to [Wallet] and click [Fiat Currency and Spot].
2. Click [Withdraw].
3. Select the [Fiat Currency] tab.
4. Select the legal currency to be withdrawn and the payment method. Payment method options depend on the selected currency and region.
5. Enter the required details and follow the instructions.
6. Enter the verification code to confirm the withdrawal.
What are cryptocurrency withdrawal fees?
Withdrawing cryptocurrencies from a Binance account incurs fees, which are used to cover network transaction costs. For example, after a user requests a withdrawal of Binance Coin or Ethereum (ETH), Binance will send the cryptocurrency to different cryptocurrency wallets in the blockchain.
In other words, all transactions that users conduct on Binance Smart Chain, Binance Chain, or Ethereum require them to pay gas fees to miners. Binance will pass on the cost of this transaction fee to users.
Each blockchain has its own fee schedule, and withdrawal fees vary for different cryptocurrencies. Withdrawal fees also change dynamically depending on network activity. The best way to see exactly how much your withdrawals cost is to visit the Withdrawals page.
What is the minimum withdrawal amount on Binance?
Each cryptocurrency has a minimum withdrawal amount. The withdrawal amount must not be less than the amount specified on the withdrawal page. You can see a list of all minimum amounts and withdrawal fees on our Deposit and Withdrawal Fees page.
How long does it take to withdraw money from Binance?
Binance will process withdrawals as quickly as possible based on user requests, but various blockchains take different times to confirm transactions. Bitcoin (BTC) takes an average of 10 to 30 minutes for withdrawals to be confirmed. Binance Smart Chain withdrawals usually only take a few minutes, while Ethereum withdrawals take slightly longer. The greater the congestion of network traffic, the longer the waiting time.
Why is my Binance withdrawal still being processed?
Your transaction may remain pending because the blockchain is still confirming or because there is network congestion. As mentioned earlier, some blockchains require more network confirmations than others. During peak traffic periods, transactions may take longer than expected.
Why can’t I withdraw money from Binance?
There are many reasons why you can’t withdraw money from Binance. First, if you have recently changed your password or disabled SMS/Google authentication, Binance will suspend withdrawal services for 24 hours. If you completely reset SMS/Google authentication, withdrawal service will be suspended for 48 hours.
If Binance detects anomalies in the account, the withdrawal function will be suspended again. This is done to protect the security of accounts and funds. In addition, Binance occasionally performs system upgrades and will suspend withdrawals until the upgrade is completed.
What should I do if my account fails to arrive after withdrawing money from Binance?
If it is determined that the blockchain is not congested but the withdrawal has not yet arrived, please contact Binance customer service for further assistance. Withdrawing fiat currency to a bank account takes several days.
Summarize
Binance’s cryptocurrency withdrawal process is very simple and generally presents no problems. Whether withdrawing fiat or transferring crypto, all the information you need is present on the withdrawal page. If you are having trouble, check your email to see if Binance has suspended withdrawals. You can also access the blockchain browser to view network congestion. All in all, patience is key. All problems are usually temporary and will be resolved quickly. If you still have issues that need to be resolved, the Binance customer service team will be happy to assist you.
