How to Withdraw Cryptos and Money From Binance to Bank Account
To withdraw from Binance, you need to log into your Binance account and go to the “Wallet” and “Overview’ section. Then, click “Withdraw” and select the crypto or fiat you want to withdraw. After that, enter the amount you want to withdraw and where it’s going, like adding a bank account or your crypto withdrawal address, and finally confirm with your 2FA code.
The Binance withdrawal fees are based on what you’re withdrawing (crypto or USD). The crypto fees depend on the network congestion, like 0.00003 BTC for Bitcoin or free for USD via ACH on the Binance.US exchange. The Binance withdrawal limits are also generous, as regular users get up to 8,000,000 BUSD daily, and US citizens with basic KYC can withdraw $1 million daily on Binance.US.
This article will explore everything in detail, from how to withdraw money from Binance with easy steps to explaining the Binance withdrawal fee and the Binance withdrawal limit.
How to withdraw money from Binance?
To withdraw money from Binance, first log in to your account on the Binance website or app with your email and password. Then, head to the “Wallet” section at the top right. Click “Overview” to view your funds.
Now, for cash withdrawals, you must sell your crypto first. To do so, go to the “Buy Crypto” section and hit “Buy & Sell”. Then, pick your cryptocurrency, select your fiat currency (as USD), and enter the amount.
Now, to withdraw from Binance to a bank account, you need to choose a bank transfer as your receiving payment method. Add your bank details (account and routing numbers), enter the amount, and confirm with your two-factor authentication code if needed. Submit it.
To withdraw crypto from Binance, go to “Withdraw” and select “Crypto” this time. Now, choose your preferred coin, enter the wallet address (e.g., if you want to withdraw from Binance to Coinbase, use your Coinbase deposit address), pick the crypto network, and confirm. But please ensure that your deposit address on Coinbase fits with the withdrawal address you entered on Binance. Generally, cryptocurrency withdrawals take 10-30 minutes (but it depends on the blockchain network congestion). Also, bank transfers may take between 1-5 business days, depending on the bank and your country.
How to withdraw USDT from Binance to the bank account?
To withdraw USDT from Binance to your bank account, go to the “Buy Crypto” section and select “Buy & Sell”. Now, select USDT as currency and bank account as a payment method.
Step 1: Log In to Binance Account
First, open the Binance app on your phone or visit the Binance website on your computer. Then, enter your email address and password in the login fields.
You’ll also need to input the verification code sent to your phone or email if you have set up 2FA in your Binance account. Once you’ve entered these details correctly, click “Log In” to view the funds in your account.
Step 2: Go to “Buy Crypto” and Select “Buy & Sell”
After logging in, you need to look at the top of the Binance homepage. Here, you’ll see many items in the menu bar. You have to find and click on the “Buy Crypto” button. You will see a drop-down list will appear. Then, select the “Buy & Sell” tab.
This section will help you convert your cryptocurrency, like USDT, into fiat currencies you can send to your bank account.
Step 3: Select USDT as Currency and Bank Account as Payment Method
Now, go to the “Buy & Sell” page, and you’ll see options to choose your preferred cryptocurrency and payment methods. In the currency field, you must select “USDT” from the list of available options (as you want to withdraw USDT from Binance to the bank account)
Next, in the payment method section, you need to choose “Bank Account” or “Bank Transfer” (the exact wording may vary depending on your region). Then, enter the amount of USDT you want to sell. Binance will show you how much fiat (like USD) you will receive in your bank account.
If prompted, you will have to add your bank details, such as your account number and routing information. Now, double-check everything, including the USDT amount, bank details, and fiat amount. Then, click “Sell” or “Confirm” to process the transaction.
You may also need to verify with 2FA or an email code if you have set it up. Once completed, the fiat will transfer to your bank account, usually within a few business days.
Alternative Method: P2P Trading
You can also look into Binance’s P2P trading platform to withdraw USDT from Binance to your bank account if fiat withdrawals aren’t supported directly in your area. The process works by selling USDT to another person who compensates you with a bank transfer:
- First, go to the P2P page on Binance.
- Now, you need to choose USDT as the coin to sell and select the fiat currency to receive.
- Set a bank transfer as the method of payment.
- You can explore buyers from the list, ensuring their ratings and reviews are trustworthy.
- Agree on the amount and exchange rate, then give the buyer your bank information so they can pay you.
- After receiving the payment in your bank account, release the USDT to the buyer on Binance.
This method requires some coordination and trust among both parties. To reduce risks, we recommend choosing buyers with high completion rates.
How to withdraw crypto from Binance?
To withdraw crypto from Binance, go to the “Wallet” section, click the “withdraw” button, select the crypto and network, enter the withdrawal address, and start the crypto withdrawal.
Step 1: Go to the “Wallet” Section
Once you’re logged in, look at the top of the page. You’ll see “Wallet” up there. Now, click on it, and then pick “Overview” from the drop-down list. This takes you to where your crypto is stored, like USDT or Bitcoin.
Step 2: Start the Crypto Withdrawal
In the “Overview” part, you will find the crypto you want to withdraw, like USDT. Next to it, there’s a “Withdraw” button – click that. It’ll open a page where you can tell Binance where to send your crypto.
You’ll need the withdrawal address of the wallet you’re sending it to, like another exchange or a personal crypto wallet like MetaMask or Trust Wallet. Now, copy that address and paste it into the box. You must pick the right network – like TRC20 or ERC20 – that matches your deposit network on the other platform.
Also, you must specify how much you want to send, check everything twice, and then hit “Submit”. You might have to do 2FA or an email check to finish it. After that, wait a bit for it to go through, depending on the network.
How to withdraw from Binance.US to the bank account?
To withdraw from Binance.US to a bank account, you need to add a bank account (ACH), select USD, and initiate the withdrawal process.
Step 1: Adding a Bank Account (ACH)
You’ll first link your bank account details to Binance.US, and it’s a relatively easy process. You’ll start by going to the “Payment Methods” section on the Binance.US site, which can be accessed from within your account settings.
Once there, you will see a link to add a new payment method – simply click on that link. Binance.US supports bank transfers via ACH, so choose Bank Transfer (ACH) from the list.
Then, you will be asked to provide your phone number to initiate the “Plaid” verification process, which safely links your bank. After providing your number, a code will be sent to your phone – enter that to proceed.
Finally, you can choose your bank from the available list. Clicking “Continue to Login” allows you to enter your bank login credentials, and then you can follow along to complete the process of linking your account via Plaid. Also, ensure that you permit Plaid access to your account information, such as your name, account number, and balance. Otherwise, the link won’t be established.
Step 2: Withdraw USD via ACH Using a Web Browser
After your bank account is linked, withdrawing USD is easy. It begins with logging into your Dashboard on the Binance.US site and clicking the “Withdraw” button. A window will appear listing your assets – choose USD from among them.
You then enter the amount you’d like to withdraw and click on “Preview Withdrawal”. If you have more than one bank connected, ensure that you have selected the correct one in the “Withdraw To” box. Then, look over everything on the following page, such as the amount, your bank information, and charges, before pressing “Confirm Withdrawal”.
Binance.US will request your two-factor authentication (2FA) code, so type that in to get it started. When your 2FA has been confirmed, your withdrawal will go out. Depending on your bank, it will take between 1 and 5 business days to appear in your account. Don’t forget that holidays will push things a day or so further.
How to withdraw from Binance to Coinbase?
To withdraw funds from Binance to Coinbase, you need to copy the Coinbase wallet deposit address and transfer crypto from Binance to that wallet address.
Step 1: Copy Your Coinbase Wallet Address
You must begin by logging into your Coinbase account on their website. Once in, you need to go to the “Deposits” section to locate your crypto assets.
Next, choose the cryptocurrency you want to send over, such as Bitcoin or Ethereum, and press the “Receive” button. Coinbase will then create a unique wallet address for a specific coin from there. It’s crucial to copy this address correctly, as it’s where your Binance funds will end up. Also, double-check it to ensure no mix-up, as sending crypto to the incorrect address means it’s lost forever.
Step 2: Initiating the Withdrawal on Binance
Next up is Binance, so you’ll log in to your account on the Binance website. Now, you need to go from there to the “Wallet” menu and select “Overview”. Then, you have to look for the cryptocurrency that you will send to Coinbase, and it should be the one that you selected on Coinbase previously.
You have to hit “Withdraw” beside it, and a form will come up. Paste the wallet address from Coinbase that you copied into the field labeled – Recipient’s Address. Also, you should ensure that the network you are sending with (e.g., BTC for Bitcoin or ERC-20 for Ethereum) is supported by Coinbase for the coin before you proceed.
Step 3: Confirming and Sending the Withdrawal
It’s now time to finalize the transfer, so enter how much you will transfer from Binance to Coinbase into the withdrawal amount box they’ve provided. Binance will allow you to view the withdrawal fee for the transaction, so you’ll know exactly what you’ll pay. Then, press “Submit”.
You may have to go through a momentary two-factor authentication (2FA) step – either an email or phone code – to ensure you want this withdrawal. Then, Binance will proceed with the withdrawal. Based on the blockchain network, it may take anywhere from several minutes to an hour for the crypto to be deposited in your Coinbase exchange account. You can track both sites’ transaction histories to trace it.
How long does Binance withdrawal take?
Binance crypto withdrawals take a few minutes to an hour, depending on the cryptocurrency and the blockchain network you’re using.
For example, sending Bitcoin might take 10 to 30 minutes because it needs a couple of network confirmations, while something like BNB Chain could be faster, often just a few minutes.
It depends on the network congestion; the more congested, the longer the waiting time. Fiat withdrawals, such as those to your bank account, are separate deals and will take 1 to 5 business days, depending on your bank and method, such as ACH or wire transfer.
Binance will process these quickly, but banks can be slow, particularly during holidays. P2P withdrawals, where you exchange directly with a person, can be instant after the buyer pays, but it also depends on how quickly the buyer completes his part.
Why can’t I withdraw from Binance?
You can’t withdraw from Binance for various reasons. The first is that your account may not yet be fully verified. The second is that network confirmations may still be pending if you recently deposited crypto.
Thirdly, Binance periodically freezes withdrawals for maintenance or security updates, and you’ll receive notice. Fourth, depending on the coin or withdrawal method, you may not have sufficient funds to pay the withdrawal plus fees. Finally, if you’re attempting fiat and your bank isn’t correctly connected or in an unsupported area, that’ll also halt you.
How to verify if your Binance withdrawal is successful?
To verify if your Binance withdrawal is successful, log in to your account. Go to the “Wallet” area and then click on “Transaction History” to get a view of your latest withdrawals.
You’ll find your transaction there, just look for the status, like “Completed”, where it indicates Binance has completed it. It’ll also include a Transaction ID (TxID) – copy this. Then, use a block explorer such as Etherscan on Ethereum or BscScan on BNB Chain, depending on the network you used. Enter the TxID into the search field of the explorer, and it will indicate whether or not the transaction is confirmed on the blockchain.
If you get “Success” and the funds are at the destination address, you’re set. If you still get “Pending”, just wait for a while – the network may be congested, and it may take some time.
What is the Binance withdrawal fee?
The Binance withdrawal fees are based on what you’re withdrawing and your withdrawal method. Crypto withdrawals have network fees, like BTC, which costs 0.00003 BTC ($2.75) on the Bitcoin network. Some other coins, like Ethereum or Litecoin, have their rates, which will be shown when you withdraw.
Now, for fiat withdrawals, Binance.US offers free ACH withdrawals for USD, but wire transfers generally cost $25. You’ll see the exact fee on the withdrawal page before confirming the transaction. You can check out our in-depth Binance review for more information about the exchange.
What is the withdrawal fee for BTC on Binance?
The withdrawal fee for BTC on Binance is attached to the blockchain network you select. On the BNB Chain (BEP20), it will cost you 0.0000066 BTC, approximately $0.60. With the Bitcoin network (BTC), you will have to pay a whopping 0.00003 BTC, roughly $2.75. Choosing the Lightning Network will cause the cost to plummet to only 0.000001 BTC, which is about $0.09.
Finally, processing through the Ethereum (ERC20) network is 0.000048 BTC, roughly $4.40. Each network will have its fee, so you can easily choose what is most convenient for you when withdrawing. If you are looking for a fee discount, you can also use our Binance referral code during sign-up to get a 10% trading fee discount and a $100 crypto sign-up bonus.
What is the Binance withdrawal limit?
Binance withdrawal limits are determined by your account level and verification status. For standard users, you can withdraw a maximum of 8,000,000 BUSD daily. If you’re a US citizen who’s completed KYC on Binance.US, you can take out as much as $1 million daily using wire transfers.
