If you are interested in investing in crypto, your number-one choice will probably be the Binance online exchange. Why? Its fees are among the most attractive on the market. Besides, this platform is one of the leaders in terms of turnover, number of users, traffic, and ease of use. That is why we decided to study it in more detail with a major focus on withdrawal procedures.
All in all, there are 5 key withdrawal methods on offer:
1. Bank cards (debit or credit). This feature enjoys the biggest demand among clients. In addition, the exchange offers instant card withdrawals.
2. Bank accounts.
3. External payment services, like Advcash or Faster Payments.
4. Cryptocurrency. One can transfer the coins bought to an outside electronic wallet.
5. P2P trading. That means converting crypto into fiat currencies.
Yet, one must bear in mind that the accessibility of the methods mentioned depends on the client’s place of residence and currency chosen.
Now, let us provide you with precise step-by-step instructions on how to withdraw from Binance. First, let us discuss transfers with fiat currencies:
· Get into your account.
· Find the button “Wallet” in the top right corner and choose “Fiat and Spot”.
· You will be redirected to the “Deposit” page, so switch to “Withdraw”.
· There, you will be offered to select the currency, payment method, and sum. Then, click on “Continue”.
· The next and the latest step is verification, for example, by SMS or/and via Google Authenticator.
Again, the system also allows withdrawing cryptocurrency:
· Log in.
· Open the menu “Wallet” and the tab “Fiat and Spot”.
· Switch to “Withdraw” as you did before.
· Choose the tab “Crypto”.
· Select the coin needed, for example, BTC, and the network.
· Afterward, you will need to specify the address of your wallet. To learn it, just open the wallet and click on “Receive” (or a similar button), and you will be shown the address, which you must copy and insert on Binance. Then, press “Submit”.
· Now, you must pass verification like in the case of fiat currency transfers. After you receive a code and enter it, click on “Submit” again.
As for processing terms, they vary, depending on the crypto or fiat currency chosen, transfer type, and other details. For example, in the case of crypto withdrawals, you will routinely receive them in about a few minutes.
In sum, withdrawing money from this crypto exchange is pretty easy and comfortable, which can justly be called one of its major benefits.