How Do I Transfer Coins on Binance?
If you are one of many people who have switched to Binance to trade cryptocurrency, you want to know how transfers work. You can easily transfer coins instantly from Binance user to Binance user in a few clicks without delay or fees, but you can also transfer coins to non-Binance account holders as quickly with minimal network fees.
Binance is rapidly growing more popular among cryptocurrency traders for its many user-friendly features and ease of transferring coins. How do you transfer coins on Binance? What steps do you need to take? You can learn more about crypto trading on Binance by contacting customer support here. Below are steps you can take to transfer coins using the Binance platform.
Benefits of Binance
There are several benefits to using Binance for trading or transferring coins. These include the following:
- Global: Binance allows users to transfer coins globally between users with access to the Binance app.
- No Wait Times: Binance allows instant transfers without wait times that are common on other exchanges.
- Variety: Binance allows users the choice of over 300 different cryptocurrencies.
- Fee Free: there are no fees or charges for transferring crypto from Binance user to Binance user. There are network fees for sending coins to non-Binance account holders.
- Transfer to Anyone: even if someone doesn't have a Binance account, if they have access to the Binance app, you can still send them coins from your account.
Internal Transfers Between Binance Users
If you wish to move coins internally (between two Binance account holders) from your account, follow the steps outlined here.
- Log into your Binance account.
- Choose "Wallet" then select "Fiat and spot" from the drop-down menu.
- Select "Withdrawal."
- Tap on the coin you wish to transfer.
- Enter the address of the recipient or select the address from your address book.
- Select the network, and make sure the network is correct.
- Key in the transfer amount.
- Select the transfer type (internal or blockchain).
- Hit "Submit."
- Enter the 2FA code to confirm identity and complete the transfer.
External Transfers to Non-Binance Users
If you wish to transfer coins to someone who does not have a Binance account, follow the steps listed below.
- Open the Binance app and log into your account.
- Tap "Binance Pay" and "Send."
- Key in the recipients email address or phone number. You can also use their Pay ID.
- Select "Continue."
- Hit "Continue" again when you are alerted that the recipient is not a Binance user.
- Enter the type currency and the amount you wish to send and tap "Continue."
- Review all the details, and if correct, tap "Confirm."
- Enter your 2FA verification code if prompted to complete the transaction.
Transferring coins on Binance is easy and convenient. There are no wait times, zero fees for internal transfers (from Binance user to Binance user), and the app works globally. For more transfer information and assistance, contact Binance customer support here.
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