How To Transfer Cryptocurrency From Binance To Coinbase
To transfer from Binance to Coinbase, you will first indigence to open both your Coinbase and Binance accounts. Go to your Coinbase splashboard and choose ‘Send/Receive ‘. here, choose the ‘Receive Tab ‘ and pick which asset you want to transfer to Coinbase. once selected, Coinbase will give you your alone address for that cryptocurrency, and that cryptocurrency only. Copy this address, and return to the Binance web site. On the Binance locate, go to the ‘Fiat and Spot ‘ section of your wallet, and choice ‘Withdraw ‘. here, select the coin you want to withdraw ( the same coin you chose on Coinbase ) and paste the Coinbase address into the Address incision. As Coinbase does not defend the Binance Chain ( BEP2/BEP20 ), you will need to send your currency through another choice, such as the cryptocurrency ‘s native blockchain. ultimately, input the secession sum, and blue-ribbon seclude. You may be prompted to complete 2FA and verify any withdrawal from your e-mail address.
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once done, you can go to your Transaction History to see the status of the transfer.
Important Things To Remember About Transferring Cryptocurrency
While transferring cryptocurrency is often a necessary undertaking, it is vital to go about this serve carefully and alone do therefore if you understand and are surely of the process. Any missteps could lead to the permanent loss of your assets. indeed, Binance issues the follow warn :
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 making a transfer.
We ‘d recommend checking out Binance ‘s scout to withdrawing cryptocurrency, alongside Coinbase ‘s guide to receiving cryptocurrency. here are some things to note when transferring crypto .
- Make sure the coin you want to transfer is listed on Coinbase.
- Double-check that your Coinbase address and the Binance recipient address match up, even if you copy/paste the address.
- Never transfer crypto assets to an address for a different coin. Only send BTC to your BTC address, for example.
- Coinbase recommends transferring a small amount of cryptocurrency to a new address, rather than sending it all at once. This will allow you to ensure you have set up the transfer correctly, without losing all of your cryptocurrency.
- Binance emphasises that its users should not just select the cheapest fees when choosing a network. Instead, make sure to choose a network that is compatible with Coinbase.
Read More: Robinhood Crypto Wallet Release Date : When Will Robinhood Add Cryptocurrency Withdrawals ? [ Featured Image by Vadim Artyukhin on Unsplash ]