How do i withdraw funds from binance after selling bitcoin

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On the top of this page, just below the navigation bar, is the withdraw button. 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 two, requiring an extra step to select the currency you want to withdraw. Most of these withdrawal buttons are linked to the withdraw crypto page by default.

Binance supports more than 60 fiat currencies. Select the one you wish to withdraw from the drop-down list. Below that, you will see a list of the available payment methods supported for your chosen currency. Depending on which payment method you choose, you will be prompted to fill in the receiving account details in this step. Provide your details and click to continue. Once you have provided all the payment details, you will be prompted to confirm the accuracy of the information provided.

A pop-up dialogue box will show the amount to be withdrawn, the payment method, transaction fees, and the estimated time it will take for you to receive the funds. If everything seems correct, click confirm and proceed to security verification using two-factor authentication. There are two categories of destinations whenever you want to withdraw crypto from Binance. You can either send your crypto to another exchange i.

The latter includes mobile, desktop, web, and hardware wallets. There are subtle differences in sending your crypto to either of these destinations, and we will highlight them in the following steps. Here are the steps to follow to withdraw crypto from Binance. There are two other ways to get to the crypto withdrawal page.

To the far right of each coin is a withdraw button, as shown here. That page has two Withdrawal buttons, as shown below. In this step, you will select the coin you want to withdraw, the address to which you are withdrawing, and the transfer network. The transfer costs also vary between different transfer networks. If you can use more than one transfer network, you may consider the network fees as well.

If you have enabled the whitelist security feature, you will not be able to add a new address on this page. The whitelist function is a security feature that you can enable and disable if you wish, but we highly recommend enabling it. It ensures that only whitelisted addresses can be used to withdraw crypto from your account.

This will display a popup dialogue box, as shown below. Select the coin and fill in the wallet address below that. Then select the correct transfer network. Important: The MEMO field is not available for all coins, but if the coin you want to withdraw provides it, you have to fill this field. The MEMO field goes by several titles depending on which wallet service or provider you use.

It is specific to each exchange account and helps identify which user account to which exchange should credit a deposit. Therefore, if you fail to provide the MEMO tag in this stage or provide an incorrect tag, you may lose your crypto.

Here you will select whether the wallet address is private or it belongs to an exchange. If it is the latter, you will choose the exchange to which you intend to withdraw your assets. Then click save after confirming that everything is correct. Binance will require you to authorise the addition by two-factor authentication 2FA.

Now that you have added your wallet address, you will have to return to the crypto withdrawal page to reselect the coin to withdraw, amount, the newly added wallet address and the transfer network. Click submit once you have verified the security details. You are done. You have successfully withdrawn your crypto from Binance. Withdrawing fiat and crypto from Binance is a simple and straightforward process. As we have highlighted above, it takes less than five steps.

One of the most popular peer-to-peer platforms is LocalBitcoins. Sign up on a peer-to-peer exchange platform and choose the location of your ideal buyer. Then, use the marketplace to find buyers. Most peer-to-peer platforms have an escrow option where your Bitcoins are not released to the buyer until you have confirmed you have received payment. While using the peer-to-peer selling method, it is crucial to be aware of fraudsters.

Also, it is highly recommended to use a peer-to-peer platform that lets you keep your Bitcoins locked until you verify the payment has been obtained from the buyer. It is worth noting that if you cash out your crypto assets, then you will need to pay taxes on your profits — although crypto currently exists in a legal grey area in India, investing in this asset is not outside the ambit of taxes.

He is intereste Must Read. One subscription for all our journalism. Written by Mehab Qureshi Pune November 3, pm. Through cryptocurrency exchanges The first method to convert any cryptocurrency into cash is through an exchange or a broker, this is quite similar to the currency exchange system at airports of a foreign country. Read more Crypto over gold on Dhanteras? Why GenZ and millennials are thinking different.

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You may incur a lot of credit card fees when you choose this method. Furthermore, Binance does not have a fixed fee structure for this type of transaction. While this method can be quite convenient, the fees that you pay may reduce the returns that you receive. While Binance does not support SGD on their platform, it supports other fiat currencies such as:. It is possible for you to sell certain cryptocurrencies directly to a fiat currency like EUR. Binance does not offer any USD trading pairs.

After that, you can withdraw this fiat currency into a multi-currency account , such as Wise or the DBS Multiplier account. You will incur fees when sending foreign currencies to your multi-currency account. When you want to convert the foreign currency to SGD, the exchange rate will be less favourable too!

If you want to reduce the fees and risks that you are taking up , you can consider withdrawing your crypto to a platform with SGD trading pairs. In this way, you are able to sell your crypto directly to SGD , and then withdraw from that platform via Xfers. However, this method can be rather complicated. These are the fees that Binance charges you for withdrawing some currencies from their platform:. Based on the current fees, the currencies that you can withdraw with the lowest fees are :.

The withdrawal fees are really high , and it will really eat into your returns! It is very important that you select the correct network! If you send your crypto via an unsupported network, your crypto will be lost forever! You can check out my guide on how to transfer crypto from Binance to Coinhako to find out more. For example, some of the platforms may not support XRP, such as Gemini. For both Luno and Gemini , there are 2 ways that you can sell your crypto :. You should use either trading platform instead of the Instant Buy feature to sell off your crypto.

This is because both trading platforms charge lower fees! However, it can help you save quite a bit of fees if you are willing to go through the hassle! I believe that this method would be the most suitable way of selling your crypto if you are not comfortable with P2P trading. There is no possible method for you to link your Binance account to Xfers. Binance International does not support SGD deposits, and neither does it allow you to link your Xfers account to the platform. This is because Binance Singapore is a separate entity from Binance International.

If you are confused, you can read my comparison of Binance and Binance Singapore to find out what are the differences between these platforms. However, it is still possible for you to withdraw any cryptocurrencies that you still have in your Binance account to another platform. I have made a few cryptocurrency withdrawals to another platform, and there were no issues so far!

You may have been so focused on buying crypto from Binance , until you did not consider how you should be withdrawing your crypto. However, it is rather straightforward, and it is sort of the opposite of depositing your funds into Binance from Singapore. It is important to have this strategy, especially when you intend to take your profits! If you are interested in signing up for any of the products mentioned above, you can check them out below!

If you are interested in signing up for a Binance account, you can use my referral link. If you are interested in signing up for a Zipmex account, you can use my referral link. You can earn 2. On my second attempt I sent a larger amount with a similar — but not exact- outcome. The lack of transparency is infuriating so can you explain please? When withdrawing from Binance, they will charge a withdrawal fee which is a set amount in BTC.

When you withdraw from your Ledger you will be paying a fee but this will depend on how congested the network is at the time you are withdrawing and this is a variable amount. So from the date you withdrew from Binance and date it was received did the price of BTC go up? Your email address will not be published. Disclosure: Some of the links in this article may be affiliate links, which can provide compensation to me at no cost to you if you decide to purchase a paid plan.

This site is not intended to provide financial advice and is for entertainment only, You can read our affiliate disclosure in our Privacy Policy. Every Bit Helps hates spam so you will only receive one email a month. Compare Exchanges. Compare Wallets. Compare Lending. LouiseElizabeth February 21, Facebook Twitter Pinterest Instagram Youtube. Louise created the Every Bit Helps YouTube channel back in , after finding the process of buying Bitcoin difficult.

Therefore, in an aim to help others, she hopes that her tutorials will make the process of buying, selling and storing crypto a lot easier for newbies in the future. After spending 20 years working in London in cyber security, she left the corporate life after having her second child in Louise now travels the world with her two small children trying to make the most out of life.

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