How To Transfer Cryptocurrency From Binance To Coinbase


How To Transfer Cryptocurrency From Binance To Coinbase Account

The most popular exchanges are Binance and Coinbase, but how do you move bitcoin from Binance to Coinbase?

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With so many cryptocurrency wallets and exchanges to choose from, cryptocurrency owners are increasingly wanting to move their assets between networks.

Here's what to do if your bank no longer allows payments to Binance, you already have assets in Coinbase, or you just want a change.

How To Transfer Cryptocurrency From Binance To Coinbase

To transfer funds from Binance to Coinbase, you must first create accounts on both Coinbase and Binance.

Select 'Send/Receive' from your Coinbase dashboard. Choose the 'Receive Tab' and the asset you wish to send to Coinbase from there.

Once you've chosen a cryptocurrency, Coinbase will provide you with a unique address for that coin and just that cryptocurrency. Return to the Binance website with this URL copied.

Select 'Withdraw' from the 'Fiat and Spot' section of your wallet on the Binance site.

Choose the currency you wish to withdraw (it must be the same coin you picked on Coinbase) and paste the Coinbase address into the Address field.

Because Coinbase does not support the Binance Chain (BEP2/BEP20), you'll have to transmit your money via another method, such as the cryptocurrency's own blockchain.

Finally, choose to withdraw after entering the withdrawal amount. Any withdrawal from your email address may request you to complete 2FA and authenticate your identity.

After that, you may check the status of the transfer in your Transaction History.

Things to Keep in Mind When Transferring Cryptocurrency

While moving cryptocurrency is frequently essential, it is critical to proceed with caution and only do so if you understand and are confident in the procedure. Any errors might result in your valuables being permanently lost.

Binance does provide the following warning:

Your assets will be permanently lost if you enter incorrect information or choose the incorrect network while transferring funds. Please double-check the details before making a purchase.

Binance's guide to withdrawing bitcoin and Coinbase's instruction to receive cryptocurrency are both worth reading.

Here are a few things to keep in mind while moving cryptocurrency.

  - Check that the coin you wish to send is available on Coinbase.

  - Even if you copy/paste the address, double-check that your Coinbase and Binance receiver addresses match.

  - Never send crypto assets to a different coin's address. For example, just transfer BTC to your BTC address.

  - Instead of sending all of your money at once, Coinbase suggests sending a little amount to a new address. This allows you to double-check that the transfer is set up correctly without losing all of your Bitcoin.

  - Binance emphasizes that while picking a network, customers should go beyond the lowest costs. Choose a network that is compatible with Coinbase instead.

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