Binance has become one of the major reputable exchanges in the cryptocurrency market.
To make use of this platform, all you have to do is register an account on the platform.
Once you do that, you’ll have access to buy, sell and transfer, or convert fiat currencies , as well as BTC for many other Altcoins.
For your security reasons, choosing a reliable platform that has built a strong reputation on the market is necessary, when it comes to cryptocurrency investment.
Binance is one such crypto exchange, serving millions of customers worldwide since 2017. Originally from China, the company operates from crypto-friendly Malta.
Binance is well-liked for listing vast number of cryptocurrencies, ranging from the most popular ones to some lesser-known obscure coins.
It also charges incredibly low fees, has a native currency BNB that can be used for getting discounted fees, and offers its own digital wallet.
As I always advise individual investors, it’s not a great idea to leave your money on any crypto exchange platform, no matter how trustworthy they seem.
So it’s either you use yet a dedicated cryptocurrency wallet device or software to keep your cryptocurrency safe, or you simply withdraw it back into fiat currency.
And i guess you have need to get your money off the Binance, so keep reading this guide to find out how to do this the right way.
Before we embark on the ways to withdraw cash from Binance, let also touch and explain somethings like; Security methods, withdrawal limit, fees and processing time.
Binance security methods
I recommend protecting your Binance account with Google Authentication app to create an added layer of security to your Bitcoin transactions.
This is a third-party protocol used for two-step verification services.
Once you activate this service, it syncs with the Binance platform, so that every time you request a transaction it will generate a unique key.
Once you decide to deactivate this security feature, you may experience Binance withdrawal suspended error.
Binance withdrawal limit
You don’t have to submit any documents to trade cryptocurrencies on the Binance exchange.
The non-verified account holders (i.e. Level 1) can withdraw up to 2 BTC per 24 hours, whereas verified account holders can withdraw up to 100 BTC per day.
Binance withdrawal fees
Binance has zero deposit fees, but it’s different for withdrawal fees – depending on the cryptocurrency in question.
The fees can range from $1 to $15.
Binance withdrawal time
Normally, Binance withdrawal processing time is quick, and usually take no longer than 30 minutes to reach your secure crypto wallet.
How to withdraw on Binance
Initially, Binance was a crypto-to-crypto only exchange, which means that withdrawing funds essentially has to do with the process of transferring a selected amount of cryptocurrencies to another digital wallet.
For example, you can send them to a fiat to crypto exchange such as Coinbase, Quidax or Luno platforms before you can withdraw as cash funds.
But with the recent updates, the team made it possible to actually withdraw your crypto investment fund without needing any other platform to convert it to fiat currency.
In this guide, am going to discuss how to withdraw from Binance to both bank account and PayPal without having glitches at all.
How to withdraw cryptocurrency from Binance
This is the simplest process example of the process you’ll need to get your crypto withdrawn from Binance to another wallet.
- Log into Binance (If you don’t have an account, click here to register)
- Once you’ve logged in, highlight [Wallet] and click on [Fiat and Spot]
- Click on [Withdraw]
- Select the [Crypto] tab and choose your desired cryptocurrency
- If the crypto is issued on multiple networks, select which one you’d like to make your withdrawal
- Paste exact network wallet address for the desired crypto-coin on the Binance withdrawal page
- If everything looks good, click on [Submit]
- Click on [Send Code], and enter the six-digit code you received in your email
- Enter your 2FA code. If everything is in order, click [Submit].
If you followed and did everything perfectly, you’ll be able to see your outgoing withdrawals in your transaction history.
How to withdraw fiat currency from Binance
Currently, Binance supports more than 60 fiat currencies and multiple different payment methods.
- If you’re registered and logged in, go to [Wallet], and click on [Fiat and Spot]
- Click on [Withdraw]
- Select the [Fiat] tab
- Select the fiat currency you’d like to withdraw and the payment method
- Enter the required details and follow the instructions.
At this point, you’ve successfully withdrawn your cryptocurrency funds out of the platform and straight into your bank account.
Below are the frequently asked questions about how to withdraw money from Binance cryptocurrency exchange, as well as, the fee it takes.
As you can see, Binance withdrawal is not hard at all. So by now, you must’ve learned how to withdraw from Binance to bank and PayPal account.
However, you’ll need to know exactly what you’re doing to avoid loosing your investment in the process.