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08

Nov
2022

In Cryptocurrency News

By sakiko

How to Withdraw from Binance Crypto & Fiat Money Transfers Guide

On 08, Nov 2022 | No Comments | In Cryptocurrency News | By sakiko

Alternatively, you can scroll down on the same page and click on the withdraw buttons aligned with the specific fiat currencies you wish to withdraw. This is a shorter route than the other ethereum finds favour with institutional investors as cryptocurrency hits all two, requiring an extra step to select the currency you want to withdraw. Anti-phishing codes are unique passwords displayed only when attempting to withdraw funds to new addresses.

Expect anywhere from 10 minutes to an hour for the funds to show up in your receiving wallet, depending on cryptocurrency and network congestion. Before withdrawing funds from Binance, you need to provide a receiving address from the external cryptocurrency wallet you plan to withdraw to. If you want to see the full list of Binance’s fiat currency withdrawal fees, just go to their website. And don’t forget, Binance has a minimum amount you can withdraw for each fiat currency.

For Bitcoin, I recommend the Material Bitcoin cold wallet, one of the most secure and user-friendly options in the market, with a 100-year warranty.
A transaction fee is charged whenever users conduct a transaction on the network.
As mentioned earlier, enabling 2FA introduces an additional layer of account security beyond your password alone.
Once you click Convert, you successfully exchanged USDT to BUSD and can now withdraw them.
Make sure to click on the Withdraw tab on the screen that appears.

I will add more currencies as we go and will keep updating this article so that you have a one-stop guide for how to withdraw money from Binance. The process will be similar as in the other guides above, so make sure to enter and amount of AUD you want to withdraw and enter your bank details. Gladly, the fee here is way lower than in the US and pretty acceptable at 1.5 Pounds per transaction in my opinion. After clicking Continue you need to enter your banking details. With our cold wallets, I assure you that your cryptocurrencies will be safe. As you’ve seen, withdrawing funds from Binance is straightforward and will only take a few minutes of your time.

For EUR, it’s a minimum of 10.00 EUR with SEPA bank transfers, and for USD, it’s at least 50.00 USD with SWIFT bank transfers. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. To withdraw money from Binance, ensure the account is KYC approved and connected to a registered bank account. Once set up, the user will be able to visit the ‘Fiat and Spot’ wallet to withdraw fiat currencies to the nominated bank account. As a result, investors should select the BEP-2 option if they want to withdraw money to a BEP-2 wallet address. For more information on how to find your Binance wallet address, read this tutorial next.

Go to the withdrawal page

Binance is one of the largest and most popular cryptocurrency exchanges in the world. With its wide variety of coins and tokens, competitive fees, and excellent liquidity, it‘s no wonder why Binance has attracted millions of users. Bitcoin (BTC) withdrawals can take between 10 to 30 minutes to confirm successfully. Binance Smart Chain withdrawals are usually processed in just a few minutes, while Ethereum may take a bit longer.

Select “send/receive,” go to the “receive” tab and pick which asset you want to transfer. There you’ll get your unique address for that specific cryptocurrency. Binance is the largest cryptocurrency exchange in terms of the daily trading volume.

How to Withdraw Money from Binance Conclusion

Below that, you will see a list of the available payment methods supported for your chosen currency. You can opt to withdraw them to another exchange, a private wallet, or want to cash out your gains. In this guide, we are showing you how to withdraw from Binance, whether it is fiat money or cryptocurrency.

You can either send your crypto to another exchange (i.e., custodial wallet) or a private wallet (i.e., non-custodial). The latter includes mobile, desktop, web, and hardware wallets. To get started, you‘ll first need to create a Binance account if you haven‘t already.

Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Yes, the account must have “Visa Fast Funds (Visa Direct)” enabled to instantly transfer the funds in their Fiat and Spot wallet to a debit card or credit card. However, Visa Fast Funds is a limited feature that is supported in select regions only. Users who have only completed the basic account security verifications cannot withdraw more than 0.06 Bitcoin (BTC) per day, or approximately $2,400.

Perhaps the biggest risk when withdrawing crypto from an exchange lies in accidentally sending funds to the wrong receiving address. To better protect why a full-stack bi architecture matters customer funds, Binance offers an address whitelisting feature. This restricts withdrawals to only addresses you have predefined under the whitelist.

Some of us look at it as intimidating and only meant for the mega-rich who can risk high amounts of money on the stock market, tech industries or start-ups. For example, if you have XRP, the minimum withdrawal amount would be 3 Ripple. Once you click on the ‘Submit’ button, Binance will prompt you to confirm the transaction and authorise it through the 2FA security function. Alternatively, visit the ‘Overview’ page by selecting ‘Overview’ under the ‘Wallet’ link on the main navigation. For alternative ways to get to the ‘Fiat and Spot’ page, refer to the section withdrawing fiat from Binance above. There are two categories of destinations whenever you want to withdraw crypto from Binance.

If everything seems correct, click confirm and proceed to security verification using two-factor authentication. Binance offers several withdrawal options for its global audience. These options’ availability depends on a trader’s region and selected fiat currency.

Withdrawal Fees

Binance will require you to authorise the addition by two-factor authentication (2FA). On the ‘Address Management’ page, click on the ‘Add Withdrawal Address’ button. Login to your Binance account, then hover over the ‘Wallet’ link, how to activate my visa card click on the Fiat and Spot link of the drop-down menu. You have successfully withdrawn your fiat balance from Binance. I am an online marketing specialist with 8+ years of experience in SEO, PPC, Funnel, Web and Affiliate marketing.

Before we can actually get started with withdrawing money, we need to know how to convert our Crypto to Fiat. Gladly, Binance makes it really easy for us to convert Crypto to Fiat. There are a couple of ways on going about that, I show you the easiest first and gradually move towards the harder ways. Investing has always been a way to grow economic and personal wealth.

Regarding fiat withdrawal fees on Binance, two factors need to be considered. The options to withdraw Euros from Binance are SEPA transfer and Visa Direct. The SEPA transfer comes with a transaction fee of 1EUR, while the Visa card is charged a 1.8% transaction fee. The most expensive fiat option is the USD withdrawal via SWIFT transfer. On the other hand, the processing time for crypto withdrawals is a bit more straightforward.

Binance withdrawal fees for fiat currency

And that covers the key considerations around withdrawing your crypto from Binance. Now let‘s briefly highlight some advanced withdrawal methods. For instance, a Level 1 account on Binance can withdraw up to 2 BTC per 24 hours versus 100 BTC for a Level 3 account. Meanwhile, the max withdrawal amounts for other coins are defined separately. You can view the current withdrawal fee for each currency on the confirmation screen before submitting your request.

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