How do I Deposit/Withdraw Cryptocurrency

Binance
2020-11-04 09:25

How to deposit/withdraw cryptocurrency on Binance App?

How to deposit/withdraw cryptocurrency on Binance website?

How to choose a network?

  • BEP2 refers to the Binance Chain.
  • BEP20 refers to the Binance Smart Chain (BSC).
  • ERC20 refers to the Ethereum network.
  • TRC20 refers to the TRON network.
  • BTC refers to the Bitcoin network.
  • BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users are allowed to withdraw or send their Bitcoin holdings to SegWit (bech32) addresses. For more details, please refer to About Segregated Witness (SegWit).
Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from or depositing funds to. If you select the wrong network, you will lose your funds.
  • The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
  • If the external platform only supports ERC20, you must select the ERC20 deposit network.
  • DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
  • For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.

Step-by-step tutorial

How to deposit cryptocurrency on Binance?

How to deposit crypto on Binance App?

1. Open your Binance App and tap [Wallets] - [Deposit].
2. Choose the cryptocurrency you want to deposit, such as USDT.
3. You will see the available networks for depositing USDT. Please choose the deposit network carefully and make sure that the selected network is the same as the network of the platform you are withdrawing funds from. If you select the wrong network, you will lose your funds.
4. Click to copy your Binance Wallet’s deposit address and paste it to the address field on the platform you intend to withdraw crypto from.
5. After confirming the withdrawal request, please wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

How to deposit crypto on Binance website?

1. Log into your Binance account and click [Wallet] - [Overview].
2. Click [Deposit] and you will see a pop-up window.
3.Click [Deposit Crypto].
4. Select the cryptocurrency you want to deposit, such as USDT.
5. Next, choose the deposit network. Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from. If you select the wrong network, you will lose your funds.
6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.
7. Click to copy your Binance Wallet’s deposit address and paste it to the address field on the platform you intend to withdraw crypto from.
8. After confirming the withdrawal request, it takes time for the transaction to be confirmed. The confirmation time varies depending on the blockchain and its current network traffic.
Please wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

How to withdraw cryptocurrency on Binance?

How to withdraw crypto on Binance App?

1. Open your Binance App and tap [Wallets] - [Withdraw].
2. Choose the cryptocurrency you want to withdraw, such as BNB.
3. Paste the address you want to withdraw to and select the network.
Please choose the network carefully and make sure that the selected network is the same as the network of the platform you are withdrawing funds to. If you select the wrong network, you will lose your funds.
4. Enter the withdrawal amount and, you will be able to see the corresponding transaction fee and the final amount you will receive. Tap [Withdraw] to proceed.
5. You will be prompted to confirm the transaction again. Please check carefully and tap [Confirm].
Warning: If you input the wrong information or select the wrong network when making a transfer, your assets will be permanently lost. Please make sure the information is correct before you confirm the transaction.
6. You need to verify the transaction. Please follow the on-screen instructions.
7. After confirming the withdrawal request, please wait patiently for the transfer to be processed.

How to withdraw crypto on Binance website?

1. Log into your Binance account and click [Wallet] - [Overview].
2. Click [Withdraw].
3. Click [Crypto].
4. Select the cryptocurrency you want to withdraw.
5. Select the network.
Please choose the network carefully and make sure that the selected network is the same as the network of the platform you are withdrawing funds to. If you select the wrong network, you will lose your funds.
6. Enter the recipient address or select from your address book.
7. Enter the withdrawal amount and you will be able to see the corresponding transaction fee and the final amount you will receive. Click [Withdraw] to proceed.
8. You need to verify the transaction. Please follow the on-screen instructions.
Warning: If you input the wrong information or select the wrong network when making a transfer, your assets will be permanently lost. Please make sure that the information is correct before you confirm the transaction.
9. After confirming the withdrawal request, please wait patiently for the transfer to be processed. For more information, you can visit here.

Frequently Asked Questions

1. How long does it take for my funds to arrive?

After confirming your request on Binance, it takes time for the transaction to be confirmed on the blockchain. The confirmation time varies depending on the blockchain and its current network traffic.
Please wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

2. How to check my transaction history?

You can check the status of your deposit or withdrawal from [Wallet] - [Overview] - [Transaction History].
If you’re using the App, go to [Wallets] - [Overview] and tap the [Transaction History] icon on the right.

3. How to add a new withdrawal address to my Address Book?

1. To add a new recipient, go to [Address Management].
2. Click [Add Withdrawal Address].
3. Select the coin and network. Then, enter a wallet label, the address, and MEMO.
  • Wallet Label is a customized name you can give to each withdrawal address for your own reference.
  • MEMO is optional. For example, you need to provide the MEMO when sending funds to another Binance account or to another exchange. You do not need a MEMO when sending funds to a Trust Wallet address.
  • Make sure to double-check if a MEMO is required or not. If a MEMO is required and you fail to provide it, you may lose your funds.
  • Note that some platforms and wallets refer to the MEMO as Tag or Payment ID.
4. You can also add the newly added address to your whitelist. When this function is enabled, your account will only be able to withdraw to whitelisted withdrawal addresses.