A lot of people ask themselves if withdrawing from crypto exchanges such as Binance is a difficult task. The truth is that the process has been immensely simplified over the years so there are just a couple of steps you need to follow – no matter whether you’d like to withdraw your funds in the form of fiat or crypto.
Withdrawing from Binance
1. Move your mouse over ‘Wallet’ on the top of the page and click on Overview.
2. Then click on ‘Withdraw’.
3. The good news is that you can withdraw either crypto or fiat currencies. If it’s ‘Fiat’, then you have the option to make a withdrawal via SEPA bank transfer or directly to your bank card. This makes everything way easier than it used to be several years ago.
4. If you are withdrawing crypto, then you need to select the exact coin you’d like to take out of the exchange. You also have to know the address of the wallet you’d like to make the transfer to. It is crucial that you double-check the address, as sending your funds to the wrong address could mean losing your funds indefinitely.
Binance also allows you to use different networks for transferring the funds – the Binance Smart Chains is often the cheapest solution, especially when considering that the Bitcoin or Ethereum networks could charge dozens of dollars worth of crypto for a single transaction.
5. Crypto withdrawals tend to be fast, taking around 30 minutes. However, in case the network is overloaded, the transaction might turn out to be more time-consuming.
Nothing on this website should be perceived as financial, investment or trading advice. We urge you to do your own research prior to investing and we highly recommend that you consult a certified financial advisor.
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