How to Withdraw and Make a Deposit Crypto in Binance

How to Withdraw and Make a Deposit Crypto in Binance

How to Withdraw from Binance

Withdraw Crypto from Binance

Let’s use BNB (BEP2) to illustrate how to transfer crypto from your Binance account to an external platform or wallet.

1. Log into your Binance account and go to your wallet overview page.
How to Withdraw and Make a Deposit Crypto in Binance
2. Click on [Withdraw] at the top right side of your screen.
How to Withdraw and Make a Deposit Crypto in Binance
3. Select the cryptocurrency you want to withdraw. In this example, we will withdraw BNB.
How to Withdraw and Make a Deposit Crypto in Binance
4. Select the network (BEP2 for Binance Chain or BEP20 for Binance Smart Chain). In this example, we will use Binance Chain (BEP2).
How to Withdraw and Make a Deposit Crypto in Binance
5. Next, you have to select the Recipient’s Address from your address list.
  • If you already have the recipient address, you can jump to step 6. If not, the next steps will show you how to add a new recipient address.
How to Withdraw and Make a Deposit Crypto in Binance
5.1 How to add a new recipient address.

If the address you need is not in your list, go to [Address Management] to add a new recipient.
How to Withdraw and Make a Deposit Crypto in Binance
5.2. Click [Add Withdrawal Address] at the top right side of your screen.
How to Withdraw and Make a Deposit Crypto in Binance
5.3. Select the coin, network, and input the address information.
  • Wallet Label is a name you can give to each withdrawal address, so you don’t forget which wallet or recipient it refers to.
  • MEMO is optional. For example, you need to provide the MEMO when sending funds to another Binance account or to another exchange. You do not need a MEMO when sending funds to a Trust Wallet address.
  • Make sure to double check if a MEMO is required or not. If a MEMO is required and you fail to provide it, you may lose your funds.
  • Note that some platforms and wallets refer to the MEMO as Tag or Payment ID.
How to Withdraw and Make a Deposit Crypto in Binance
5.4. When you are done, check mark [Add to Whitelist] and click [Submit].

5.5. Next, click [Send Code].
How to Withdraw and Make a Deposit Crypto in Binance
5.6. Finally, enter the verification code you received by email or phone along with the code from your Google Authenticator App. When you are done, click [Submit].

6. Now that you have the recipient address in your whitelist. You can come back to the withdrawal page and select the address from your list.
How to Withdraw and Make a Deposit Crypto in Binance
7. Enter the withdrawal [Amount]. At this point, you will be able to see the corresponding transaction fee and the final amount. Click [Submit] when you are ready.
How to Withdraw and Make a Deposit Crypto in Binance
8. Finally, enter the verification code you received by email or phone along with the code from your Google Authenticator App. When you are done, click [Submit].
How to Withdraw and Make a Deposit Crypto in Binance
Warning! If you input the wrong information or select the wrong network when making a transfer, your assets will be permanently lost. Please, make sure that the information is correct before making a transfer.

Why has my withdrawal now arrived?

I’ve made a withdrawal from Binance to another exchange/wallet, but I haven’t received my funds yet. Why?

Transferring funds from your Binance account to another exchange or wallet involves three steps:
  • Withdrawal request on Binance
  • Blockchain network confirmation
  • Deposit on the corresponding platform

Normally, a TxID(Transaction ID) will be generated within 30-60 minutes, indicating that Binance has successfully broadcasted the withdrawal transaction.

However, it might still take some time for that particular transaction to be confirmed, and even longer for the funds to be credited into the destination wallet. The amount of required network confirmations varies for different blockchains.

For example:
  • Bitcoin transactions are verified that your BTC is deposited into your corresponding account after reaching 1 network confirmation.
  • Your assets are temporarily frozen until the underlying deposit transaction reaches 2 network confirmations.
Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the transaction ID (TxID) to look up the status of your transfer by using a blockchain explorer.

Note:
  • If the blockchain explorer shows that the transaction is not confirmed, please wait for the confirmation process to be completed. This varies depending on the blockchain network.
  • If the blockchain explorer shows that the transaction is already confirmed, it means that your funds have been sent out successfully and we are unable to provide any further assistance on this matter. You would need to contact the owner/support team of the destination address to seek further help.
  • If the TxID has not been generated 6 hours after clicking the confirmation button from the e-mail message, please contact our Customer Support for assistance and attach the withdrawal history screenshot of the relevant transaction. Please make sure you have provided the above information so the Customer Service agent can assist you in a timely manner.

How do I check the transaction status on the blockchain?

Log in to Binance.com, click on [Wallet]-[Overview]-[Transaction history] to find your cryptocurrency withdrawal records.

If the [Status] shows that the transaction is “processing”, please wait for the confirmation process to be completed.
How to Withdraw and Make a Deposit Crypto in Binance

If the [Status] shows that the transaction is “Completed”, you can click on [TxID] to check the transaction details in a block explorer.
How to Withdraw and Make a Deposit Crypto in Binance
How to Withdraw and Make a Deposit Crypto in Binance


Withdrawal to a Wrong Address

Our system initiates the withdrawal process as soon as you click on [Submit] after passing security verification. Withdrawal confirmation e-mails can be identified by their subject lines starting with: “[Binance] Withdrawal Requested From……”.
How to Withdraw and Make a Deposit Crypto in Binance
If you’ve mistakenly withdrawn funds to the wrong address, we are unable to locate the receiver of your funds and provide you any further assistance. If you have sent your coins to an incorrect address by mistake, and you know the owner of this address, we recommend you to contact the customer support of that platform.

How to Deposit in Binance


Deposit Crypto in Binance

Let’s use 10 USDT to illustrate how to transfer crypto from an external platform into your Binance account.

1. Log into your Binance account and go to your wallet overview page.
How to Withdraw and Make a Deposit Crypto in Binance
2. Click on [Deposit] at the top right side of your screen.
How to Withdraw and Make a Deposit Crypto in Binance
3. Select [Deposit Crypto].
How to Withdraw and Make a Deposit Crypto in Binance
4. Select the cryptocurrency you want to deposit. In this example, we will deposit USDT.
How to Withdraw and Make a Deposit Crypto in Binance
5. Next, choose the deposit network. Make sure the selected network corresponds with the network of the platform you are withdrawing funds from.

Be careful! If you select the wrong network, you will lose your funds.

Summary of network selection:
  • BEP2 relates to the Binance Chain.
  • BEP20 relates to the Binance Smart Chain (BSC).
  • ERC20 relates to the Ethereum network.
  • OMNI refers to the OmniLayer that runs on the Bitcoin network.
  • TRC20 relates to the TRON network.
  • BTC refers to the Bitcoin network.
  • BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users are allowed to withdraw or send their Bitcoin holdings to SegWit (bech32) addresses. For more details, please refer to Segregated Witness (SegWit) FAQ.

6. In this example, we will withdraw USDT from another platform and deposit it into Binance. Since we are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.
How to Withdraw and Make a Deposit Crypto in Binance
  • The network selection depends on the options provided by the external wallet/exchange that you are making the withdrawal from.
  • If the external platform only supports ERC20, you must select the ERC20 deposit network.
  • DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
  • For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.

7. Copy the deposit address provided by Binance and paste it on the corresponding platform’s address section (where you intend to withdraw your funds from).
How to Withdraw and Make a Deposit Crypto in Binance

8. After confirming the withdrawal request, you have to wait until the transaction is confirmed. The confirmation time varies depending on the blockchain and its current network traffic.

Please, wait patiently for the transfer to be processed. The funds will be credited to your Binance account shortly after.

9. You can check the [Transaction History] page for more information on your recent transactions.
How to Withdraw and Make a Deposit Crypto in Binance

Why has my Deposit not been credited yet?

Transferring funds from an external platform to Binance includes three steps:
  • withdrawal from the external platform
  • Blockchain network confirmation
  • Binance credits the funds to your account

An asset withdrawal marked as “completed” or “success” in the platform youre withdrawing your crypto from means that the transaction was successfully broadcast to the blockchain network. However, it might still take some time for that particular transaction to become fully confirmed and credited to the platform you’re withdrawing your crypto to. The amount of required “network confirmations” varies for different blockchains.

For example:
  • Bitcoin transactions are verified that your BTC is deposited into your corresponding account after reaching 1 network confirmation.
  • All of your assets will be frozen temporarily until the underlying deposit transaction reaches 2 network confirmations.

Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID (Transaction ID) to look up the status of the transfer of your assets by using a blockchain explorer.
  • If the transaction has not yet been fully confirmed by the blockchain network nodes, please wait and try again later.
  • If the transaction is unconfirmed by the blockchain network, but it has also reached the minimum amount of network confirmations specified by our system, please contact our Support team and create a ticket with TxID, coin/token name, deposit amount and transfer time. Please make sure you have provided the above-detailed information so the Customer Service agent can assist you in a timely manner.
  • If the transaction is confirmed by the blockchain but not credited to your Binance account, please provide us with the TxID, token name, deposit amount, and time.

How do I check the transaction status on the blockchain?

Log in to Binance.com, click on [Wallet]-[Overview]-[Transaction history] to find your cryptocurrency deposit record.
How to Withdraw and Make a Deposit Crypto in Binance
Then click on [TxID] to check the transaction details.
How to Withdraw and Make a Deposit Crypto in Binance


Summary of Incorrect Deposit

Missing or wrong TAG:

If you forgot to use a Tag, Memo or payment ID (e.g. BNB, XLM, XRP, etc) or used an incorrect one, then your deposit will not be credited.

Currently, you can apply for recovering your assets via self-service online:
Deposit made to incorrect receiving/deposit address or Unlisted token deposited:

Binance generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, Binance may, solely at our discretion, assist you in recovering your tokens/coins. Binance has comprehensive procedures to help our users recovering their financial losses. Please be noted that successful token recovery is not guaranteed. If you have encountered this sort of situation, please remember to provide the following information to us for speedy assistance:
  • The email address of your Binance account
  • Token name
  • Deposit amount
  • The corresponding TxID

Deposit to an incorrect address which doesnt belong to Binance:

If you have sent your tokens to an incorrect address which does not belong to Binance. We are unable to provide you any further assistance. You are suggested to contact the relevant parties (owner of the address or exchange/platform which the address belongs to).
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