How to withdraw from Binance – Step by step guide
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It might seem like an obvious thing for some, but to make it really easy and clear for everyone I decided to write an easy to follow step by step guide on how you can withdraw cryptocurrencies from Binance.
So not matter if you are looking to cash out crypto or fiat from Binance this is your guide.
What kind of withdrawals can you do from Binance?
Depending on which Binance you use there are different types of ‘withdrawals’ you can do. There are currently three different Binance exchanges, the original (Binance), Binance Jersey, and Binance US.
- You can withdraw your cryptocurrencies from Binance to another cryptocurrency wallet address (exchange or your private wallet)
- You can withdraw funds (fiat money) from Binance Jersey to your bank account
You can withdraw cryptocurrencies from all three Binance exchanges to another cryptocurrency wallet. We will take you through the steps below.
How to withdraw from Binance step by step
1 ) First you head over to Binance and log in
If you don’t have an account then you will need to register first – click here to register/sign in
2 ) Go to your ‘Spot Wallet’ to initiate withdrawal
Click on Wallet and then Spot wallet to initiate the withdrawal. This is only if your cryptocurrency funds are available in your Spot Wallet. If you have done margin or futures trading then your funds might be in there.
If they are then you need to move them to your spot wallet to initiate the withdrawal.
3 ) Select the cryptocurrency you want to withdraw
If you see the cryptocurrency you want to withdraw in the list then click on ‘Withdraw‘ straightaway. If you don’t see then search for it and then click on ‘Withdraw‘
4 ) Now enter the details (address + amount to withdraw from your Binance account)
- It is essential that you only send BTCs to a BTC address, ETHs to an ETH address, etc for all cryptocurrencies. Otherwise, your funds might get lost
- A cryptocurrency address is a long string of characters and numbers mixed together
5 ) Click on Submit to withdraw your funds
To finalise the withdrawal just click on submit. Make sure all the details you’ve entered are correct. So double check the address and the amount.
6 ) Type in your 2FA code (if you have enabled this)
If you have enabled 2FA (which you should) then type your temporary code in to proceed to the next step. If you haven’t activated Two-Factor-Authentication on your account then move on to the next step.
7 ) Verify the email to confirm the withdrawal
And the final step to complete your withdrawal from Binance is to verify the email that gets sent to your account.
And after you have done this you have completed your withdrawal.
8 ) Go to your inbox to verify the withdrawal request
Now head on over to your email inbox and look for the withdrawal request email from Binance.
Open the email and click on the button ‘Confirm Withdrawal‘. This is the final step to confirm your withdrawal.
- This is the final step so when you click on that button there is no going back. Make sure it is the correct information that you’ve put in and that you want to make this withdrawal
That is the end of this guide on how you can withdraw any cryptocurrency (like Bitcoin, Ethereum, Ripple, BAT, etc) from Binance.
The steps are exactly the same for all cryptocurrencies. So after you have tried it out for lets say Bitcoin, then it is the same for the rest and you can just follow this guide for all cryptocurrencies on Binance.
You can follow the withdrawal from Binance via your Withdrawal History page. See when the transaction is in transit (processing) and when it has been sent (confirmed).
When it has been confirmed you can check your balance in the wallet address where you sent your cryptocurrencies to.
As mentioned above you can also withdraw fiat money from your Binance accounts. With Binance Jersey you add/connect a bank account and then you can deposit from and withdraw to that bank account.
With Binance you can withdraw fiat funds via any of the connected payment services listed on the site. They take a fee and might need you to complete some KYC checks.
You can switch between Crypto and Fiat in there, see the picture below.
I hope that this guide was helpful and by now you know how to cash out from Binance. This guide covered specifically how to withdraw cryptos from Binance, but fiat funds would work in a similar fashion using for example Binance Jersey.
Withdrawing your cryptocurrencies on Binance, or another exchange works the same for all cryptos. The obvious difference is that you have to use the correct cryptocurrency wallet and wallet address for each.
- You can only send BTC -> BTC wallet addresses, ETH -> ETH wallet addresses, ADA -> ADA wallet addresses, etc
If there is anything in these steps that still don’t make full sense to you or you are struggling with anything then don’t hesitate. Get in touch and I will do my best to help you!
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Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier