The withdrawal process on Binance depends on the type of cryptocurrency or fiat currency you are going to withdraw. Some cryptocurrencies can be withdrawn from different blockchains, so choose the one you want.
Depending on the chosen method, the duration of withdrawal of funds will also change. For cryptocurrency withdrawals, each blockchain will require several confirmations before the funds arrive in your wallet. You can check the status of your transaction using the blockchain explorer.
Sometimes Binance may suspend withdrawals due to technical updates. In this case you will be notified of a delay. If withdrawals take an unreasonably long time, we recommend contacting Binance support.
Introduction
If you want to withdraw funds from your Binance account, you will need to go through the withdrawal process. The withdrawal procedure may vary depending on the blockchain and the type of cryptocurrency or fiat you want to withdraw. Overall it's pretty simple. The main thing is to be careful at every step so as not to accidentally lose funds.
How to withdraw cryptocurrency from Binance
In this example, we will withdraw BNB to Trust Wallet and walk through the process step by step.
1. Login to your Binance account. Hover over [Wallet] and select [Fiat & Spot].
2. Click [Output].
3. Open the [Crypto] tab and select the cryptocurrency you want to withdraw.
4. If the cryptocurrency is issued on several networks, select the one from which you want to withdraw funds.
For example, BNB is issued on the Binance blockchain as a BEP-2 token and on the Binance Smart Chain (BSC) as a BEP-20 token. That is, to withdraw funds to a BEP-2 wallet address, select the BEP-2 option. Be careful at this step: if you enter the wrong address, you may lose your crypto assets.
5. Select BNB in the Trust Wallet app.
6. Click [Receive].
7. Copy the BNB receiving address.
8. Paste it into [BNB Recipient Address] on the Binance withdrawal page. If the data is entered correctly, click the [Submit] button.
9. Click on the [Submit Code] button and enter the six-digit code received by email.
10. Enter the 2FA code. If the data is correct, click [Submit]. You will be able to see your withdrawals in your transaction history.
How to withdraw fiat currency from Binance
Binance supports over 60 fiat currencies and various payment systems.
1. Login to your Binance account. Hover over [Wallet] and select [Fiat & Spot].
2. Click [Output].
3. Open the [Fiat] tab.
4. Select the fiat currency you want to withdraw and your payment method. Methods may vary depending on the selected currency and region.
5. Enter the required information and follow the instructions.
6. Enter the code to confirm the withdrawal.
Commissions for withdrawal of cryptocurrency
When you withdraw cryptocurrency from your Binance account, a fee is charged to cover the cost of online transactions. For example, transferring BNB or Ether (ETH) requires Binance to send the cryptocurrency to another crypto wallet on the blockchain.
In other words, any transaction on Binance Smart Chain, Binance Chain or Ethereum requires a gas fee that the user must pay to the miners. Binance charges this fee to the sender of the transaction.
Each blockchain has its own fee schedule, so the fee for withdrawing cryptocurrency may vary. The commission itself also changes depending on the activity on the network. The best and most accurate way to find out what the withdrawal fee will be is to go to the withdrawal page itself.
What is the minimum withdrawal amount on Binance?
Each cryptocurrency has a minimum withdrawal amount. You cannot withdraw less than the amount indicated on the withdrawal page. You can view a list of minimum amounts and withdrawal fees for each cryptocurrency in the Deposit and Withdrawal Fees section.
How long does it take to withdraw funds to Binance?
Binance will begin processing your request immediately, but each blockchain takes a different amount of time to confirm the transaction. Bitcoin (BTC) may take 10 to 30 minutes to confirm your withdrawal. Withdrawals via Binance Smart Chain usually take a few minutes, while withdrawals via Ethereum will take a little longer. The more congested the network is with traffic, the longer you will have to wait.
Why is my Binance withdrawal processing suspended?
Your transaction may get stuck because the blockchain has not yet confirmed your transaction or is heavily overloaded. As we've already discussed, some blockchains require more network confirmations than others. During periods of heavy traffic, transactions may take much longer than usual.
Why can't I withdraw funds from my Binance account?
There are several reasons why you may not be able to withdraw funds from Binance. If you have changed your password or disabled SMS/Google authentication, Binance will pause withdrawals for 24 hours. If you performed a full SMS/Google authentication reset, withdrawals will be suspended for 48 hours.
If Binance detects suspicious activity on your account, the withdrawal feature will be temporarily suspended again. This is done to protect your account and funds. Additionally, some Binance system updates require you to stop withdrawals until the update is complete.
What should I do if the funds withdrawn through Binance have not arrived in my account?
If you have verified that the blockchain is not overloaded but your withdrawal still hasn't arrived, please contact Binance support for assistance. Please remember that it may take several days for your fiat currency to be transferred to the bank.
Summary
Withdrawing cryptocurrency from Binance is a fairly simple process that usually does not cause problems. All necessary information related to receiving fiat or moving cryptocurrency can be found on the withdrawal page. If problems arise, you will receive an email notifying you that your withdrawal has been suspended. We also recommend checking the network congestion using a blockchain explorer. The main thing is to be patient. Typically, problems and delays are temporary. But in any case, Binance support team will be ready to help you.
