With the Binance deposit or withdrawal function, you can transfer your crypto assets from your Binance account to other platforms or wallets. Let’s take a look step by step.
1. How to Deposit Crypto on Binance?
Let’s take 10 USDT as an example to see how to transfer crypto from a corresponding platform to your Binance account in two easy steps.
1. Choose the cryptocurrency’s deposit address on Binance.
2. Copy the deposit address, and paste it on the corresponding platform’s address section, where you intend to withdraw your funds from.
Log in to your Binance account, select [Wallet], [Overview], [Deposit], then select [Deposit Crypto].
Select the crypto "USDT", and you will see all of the supported networks on Binance.
BEP2 refers to Binance Chain. BEP20 refers to Binance Smart Chain or BSC. ERC20 refers to the Ethereum network. OMNI stands for Omni player and refers to the Bitcoin network. TRC20 is a technical standard used for smart contracts on the TRON network. We can see the networks as different banks, you can not transfer your assets through an unsupported network.
For example, although the BEP20 (Binance Smart Chain) address and ERC20 (Ethereum) address look similar, the BEP20 address handling fee is lower than the ERC20, please DO NOT choose an address due to the lower handling fees. Make sure to select a supported network.
And if you choose the BEP20 ( BSC) as the deposit address, but the withdrawal platform only supports the Ethereum network, then you will lose your digital assets.
After selecting the deposit network “ERC20 (Ethereum )”, click the button to copy the deposit address of USDT to the clipboard.
Next, open the platform or wallet that you need to withdraw, and copy the “ERC20(Ethereum)” address to the “withdraw address” column. After confirming the withdrawal, the cryptocurrency will be added to your balance. The network confirmations usually take a few minutes, so please wait patiently for the transfer to be processed.
And you can find transaction details under [Transaction History].
2. How to Withdraw Cryptocurrency on Binance?
Let’s try with BNB withdrawal and use Binance Chain (BEP2）as a network to see the process.
Under [Deposit], select [BNB] [BEP2(Binance Chain)], you will see a reminder to enter both MEMO and address.
Since some specific tokens in the networks use the same address, you will have to fill in the MEMO to identify the user's transfer transaction. ( Note: MEMO is also known as the Tag or Payment ID for some platforms and wallets.）
Click the button to copy the deposit address and MEMO.
Under [Withdraw], select [BNB] [BEP2(Binance Chain)], and enter the desired [Amount]. You will see the corresponding transaction fee and then click on “Submit” to withdraw BNB.
Please ensure that both MEMO and deposit address are accurate and correctly filled. Check the details, and click on [Submit].
Next, you will see the security verification page. Please enter the phone verification or E-mail verification code within the time limit.
Please note: 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 all of your information is entered correctly before making a transfer.
Now, you’re all set to deposit cryptos on the world’s leading cryptocurrency exchange！