In this post, we are going to see how you can withdraw your money from Binance, and your cryptocurrencies to another wallet or another exchange in a simple way.
The first thing we must do is to sell our cryptocurrencies to euros or our currency. If the cryptocurrency you want to sell does not have a pair with euros, first you must sell it and get usdt, and then exchange the usdt for euros, in my case that is my currency.
Once you have euros or your currency, Binance makes it very easy, and it works very similar to making a deposit. From the main panel, click on withdraw.
Here we see the same options as in the case of the deposit, with the withdrawal fees. With a transfer of 0.8 euros and with a card of 1%. It happens the same as with the deposit, in the case of choosing the credit card, we will be able to have the balance in our bank account instantly. Simply indicate your card, the amount you wish to withdraw and click on continue to withdraw your money. As you can see, it is very simple. This way you will have your money back in your bank account.
Withdrawing money from binance to your bank account
Now let’s see how you can also withdraw your cryptocurrencies to your metmask or trustwallet wallet, or if you want to send your cryptocurrencies to another Exchange.
The first thing to know is that there are different networks to send our cryptocurrencies. The most popular ones are the ethereum network, tron and binance Smart chain, although there are many more. Some cryptocurrencies can only be withdrawn through one network and some have their own network. Before withdrawing, make sure you are using the same network when withdrawing to where you send your cryptocurrencies.
If your wallet is on the ethereum network, do not send using the binance Smart chain network, as it will not reach you. The same happens if you want to send the cryptocurrencies to another Exchange, if you copy the tron network address of another Exchange, do not send through the ethereum network or binance Smart chain, because it will not arrive. In case this happens to you, contact support to see if they can fix it.
Withdrawing cryptocurrencies from Binance to an exchange
With this clarified, let’s see how to withdraw your cryptocurrencies, in this example usdt which is one of the most used and has different networks that you can use. Let’s see how to withdraw cryptocurrencies to an exchange, and then to a metamask wallet.
With the usdt, we go to wallet, spot wallet and click withdraw.
Now we must go to gate.io or another exchange, and go to deposit. Here, we click on the tron/TRC-20 network, as it has the lowest commissions and only costs one dollar commission. As you can see, there are different networks, but the tron network is currently one of the cheapest and fastest. We copy the address and paste it into binance. Once in binance, we indicate the address, the tron network, trc-20 and the amount to withdraw the usdt. We confirm with our email and cell phone, and that’s it. Remember to indicate the trc-20 network on both sides, in gate.io when copying and when withdrawing from binance.
Now you must wait for the USDT to appear in your gate.io balance, it usually takes a few minutes until you have it ready to use.
Withdrawing Binance cryptocurrencies to your wallet
Now let’s see how you can withdraw them to your wallet, using the binance Smart chain. In case of metamask, you are going to have to configure the binance Smart chain first if you haven’t done so in order to see the cryptocurrencies you send through this network.
We go back to the same USDT withdrawal panel as we were previously.
Now, open your metamask wallet and click on your address to copy it. With the copied address, go back to binance and paste the address, enter the amount and the network, which you must enter BEP20. Check that everything is correct and that you have entered the BEP20 network and click on confirm, enter the codes and confirm the transaction.
An important aspect is to have Binance coin (BNB) in your metamask wallet to pay for the commissions, if not, you will not be able to make transactions with your wallet without BNB, since it is the currency used to pay the commissions in this network. Although you don’t need to have a large amount, with 10-15$ is enough to cover expenses for a long time. In my case I already have BNB, but you can buy it in Binance and follow the same steps we have seen with tether to have it in your metamask wallet.
Now, after a few minutes, you will be able to see your USDT in your metamask wallet. Remember to indicate the Smart chain, and if you don’t have the usdt token, click on add token, and search for usdt to see it in your wallet. In my case I already had it added.
I hope it has helped you to be able to withdraw your money and your cryptocurrencies from Binance in an easy and uncomplicated way. If you don’t have an account with binance or gate.io, you can create one just below.