How to Transfer from Binance to Coinbase in No Time

As cryptocurrencies continue to grow more popular, so do the exchanges used to buy, sell, and trade these digital assets.

With wider adoption comes more platforms, which means users have more options to choose from.

Some traders like certain exchanges for the features they offer, while others prefer to focus on security.

Intro to Binance and Coinbase

It’s safe to say that Binance and Coinbase are two of the most popular cryptocurrency exchanges in the industry.

But before we discuss transferring some of your sweet Bitcoin from one to the other, let’s spend a few minutes learning a bit about them.

Binance

Arguably the most recognized exchange in the market, Binance is well-known for its low trading fees and long list of digital coins.

Of course, the exchange supports all the popular coins and trading pairs, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, and others.

Plus, you can use the exchange for lesser-known crypto assets like Polkadot, Monero, Neo, and of course, its platform token, BNB.

Due to the sheer amount of volume the exchange does on a daily basis, Binance is able to offer its users a high amount of liquidity if they want to trade cryptocurrency, something many other platforms can’t claim.

Another area where Binance shines is through the low fees the platform offers. These digital currency fees are even lower if you choose to pay them using BNB.

Plus, the platform offers security features like 2FA (two-factor authentication) and whitelisting.

So if you trade a lot and prefer to use unique altcoins, Binance might be a platform worth looking into.

Coinbase

Coinbase is another well-known crypto platform recommended for those who are just starting out in the world of digital assets.

This is because the exchange is simple and intuitive, which makes buying, selling, and trading your favorite coins quick and painless.

While Coinbase doesn’t offer as many coins as other exchanges, the ones it does offer have been vetted by the platform.

That means they go through a rigorous verification process before Coinbase lists them.

Like Binance, Coinbase supports popular coins like ETH, LTC, USDT, and others. This and additional features make Coinbase one of the most secure crypto exchanges on the market, which is another reason it’s great for crypto beginners.

Items to consider

Transferring Bitcoin from Binance to Coinbase is a fairly painless process, but there are a few items to think about before you get started.

First, remember that t may not go as fast as you like if you’re new to this if you’re new to this. Over time you’ll learn how to initiate a transfer quickly.

For now, take your time and make sure you do everything right.

For example, I’m going to talk about your wallet address. Before you initiate a transaction, you want to double-check that the address is the correct one.

If you send your funds to the wrong address, neither Binance nor Coinbase is going to be able to recover them for you.

You will permanently lose your coins if you send them to the wrong address.

Something else to pay attention to is the type of coin you’re sending and receiving. Make sure you choose BTC on both Binance and Coinbase.

If you choose the wrong crypto, you’ll have trouble with your transaction and could wind up losing your funds.

Again, double-check everything before you press that ‘Confirm’ button.

Okay, enough stalling. Here’s my step-by-step tutorial on how to transfer BTC from Binance to Coinbase.

How to send BTC from Binance?

Let’s get to it. Here’s how you can move your Bitcoin from Binance to Coinbase.

Step 1 – Log into Coinbase

The first thing you need to do is log into your Coinbase account.

The site requires you to confirm your identity through two-factor authentication, so follow those steps to get signed in.

Step 2 – Navigate to deposits

Since you’re depositing your Bitcoin into your Coinbase wallet, head over to Coinbase deposits by clicking on the ‘Send/Receive button in the top right corner of the site.

Step 3 – Copy Bitcoin wallet address

Choose the ‘Receive’ option, then select the cryptocurrency you’re going to send to Coinbase.

In this case, it’s going to be BTC. Now, copy the Bitcoin wallet address.

Now that we know where we’re going to send the Bitcoin let’s get to initiating the transaction from Binance.

Follow these steps to send your Bitcoin from Binance to Coinbase.

Step 4 – Sign in to Binance

Sign in to your Binance account.

Again, you’ll have to pass the authentication requirements, so be sure and do that.

Step 5 – Navigate to wallet menu

Find the ‘Wallets’ drop-down menu in the upper right corner. Select it and choose ‘Spot Wallet.’

On the next screen, looking in the top right corner against and click on the button labeled ‘Withdraw.’

Step 6 – Choose your cryptocurrency

Type in either the full name or token abbreviation to choose your cryptocurrency.

For the purposes of this article, we’ll type in either Bitcoin or BTC.
<h3id=”HowToStep07″>Step 7 – Paste Your Coinbase Wallet Address

In the ‘Recipient’s BTC Address’ field, paste in the Bitcoin wallet receiving address you copied from Coinbase.

Again, double-check your address to confirm that it’s correct. If it’s wrong, you’ll permanently lose your Bitcoin.

Step 8 – Enter the amount of BTC

Type in the amount of Bitcoin you’re withdrawing in the ‘Amount’ field.

Once you’ve entered your amount, Binance will tell you exactly how much you’ll pay in fees and how much you’ll receive after fees are subtracted from your total.

Step 9 – Submit transaction and complete verification

Click on the ‘Submit’ button to move to the next step. This does not initiate the transaction. There are a few more steps to take first.

Next, Binance will request that you enter your 2FA number. If you haven’t already set this up, you’ll need to do so to complete the withdrawal request.

Step 10 – Confirm transaction

Once you’ve successfully entered the 2FA security code, Binance will send a confirmation email to the email address linked to your Binance account.

Click on the ‘Confirm’ button in the email, which will initiate the transfer request.

There are quite a few steps here, but the whole process takes less than five minutes to complete.

If you need to set up your authenticator for Binance, it will take a little while longer, but overall, moving your Bitcoin from Binance to Coinbase doesn’t take very long.

One last item to keep in mind is that the process will vary a bit if you’re using an iOS or Android mobile app.

However, the same principles still apply.

Copy your Coinbase deposit address and paste it into your Binance withdrawal field.

That’s it! That’s all there is to get your Bitcoin from Binance to Coinbase. Now, just sit back and wait for your funds to arrive.

How long does it take to send Bitcoin from Binance?

The problem with answering this question is that the time it takes to send Bitcoin from one exchange to another is going to vary.

It’s tough to give an accurate estimate on how long it will take. Typically, these types of blockchain transactions can take anywhere from 15 minutes to an hour.

Even though many people believe Bitcoin is the best cryptocurrency, others point to the amount of time transactions take as a significant disadvantage.

If 15 minutes to an hour sounds like a long time, bear in mind that a transaction through your bank account might take anywhere from 24-36 hours.

So while it might seem like things are taking a while, the technology is much faster than what traditional banks have to offer.

To ensure that the transaction initiated properly, take a look at your Bitcoin balance in your Binance account.

If it’s less than what you had before the transaction, then you know your funds are on their way. It’s only a matter of time.

Another item to bear in mind is how busy the blockchain is. If a specific cryptocurrency is experiencing sudden popularity, it may take longer than normal for funds to move.

This is particularly due to the network being overloaded. Don’t worry though, your funds will arrive. Just be patient and keep an eye out for it.

Will Binance ban accounts that transfer BTC from Binance to other exchanges?

The short answer to this question is no, but there are extenuating circumstances.

For example, when Binance launched its Binance.us platform, it required US residents to move their funds from Binance.com to the new exchange.

The platform gave users plenty of advance notice, but there were laggards, who forced Binance to freeze their account.

This is the exception, rather than the rule, though.

One other reason Binance could ban or freeze your account is if you regularly exceed their withdrawal limit. If you’re a non-verified user on the platform, the daily limit is 2 BTC.

For those of you who want to withdraw more than that, you’ll need to verify you identity with the exchange.

Lastly, if Binance suspects you of malicious or suspicious behavior, it may restrict your funds as well. If you’re innocent of wrongdoing, reach out to Binance to clear up any misunderstandings.

On the other hand, if you’re participating in harmful activities, it’s likely your account will be banned and you’ll lose your Bitcoin.