It is rare for cryptocurrency holders to trust their funds to certain crypto addresses. Currently, Binance and Coinbase are the most popular crypto exchanges, and therefore, it is likely that crypto enthusiasts will at some point wish to transfer their funds from Binance to Coinbase. This article looks at how to transfer from Binance to Coinbase, without experiencing problems.
How to Transfer from Binance to Coinbase | Introduction
The world of cryptocurrency is indeed very mesmerizing. Once you start to study the various nuances of crypto, you gradually begin to understand its power. If you want to try your hands on crypto, you will need to use an application to facilitate the transactions you wish to make.
Binance and Coinbase are one of the top crypto trading and exchange platforms in 2022. This article will answer your most obvious questions on how to transfer from Coinbase to Binance and how to transfer from Binance to Coinbase.
Coinbase was launched in the year 2012 by two leading members Brian Armstrong and Fred Ashram. Ever since then, it has been providing seamless services to all crypto enthusiasts. If you want to be welcomed with a safe, secure, and easy-to-use platform with a great UI/Ux design, then Coinbase should be your go-to app for all your crypto transactions: buying and selling! If you want to sync all your transactions and ensure a steady place for your coins, then you can also sign up for the Coinbase wallet.
Coinbase uses bank-level AES-256 encryption on its servers, which is one of the safest encryption modules. If you have been wondering the most frequently asked question about how to transfer from Coinbase to Binance, then don’t worry; we have got all the answers for you. If you want to know more about it, go to Coinbase review.
Also read: How to Withdraw from Coinbase to PayPal
We can’t move forward on our guide of how to transfer from Binance to Coinbase, without telling something about this exchange. Binance is another crypto exchange platform that was founded in 2017. With its headquarters in the Cayman Islands- a crypto-friendly nation, Binance gets a great deal of opportunity and freedom for the business deals, policies, and strategies. Binance is currently the largest crypto trading platform globally concerning its trade volume estimated to be about 2.4 bn in a day, and 14,00,000 + recorded transactions every second. It has carried out ISO/ICO_27001:2013 and CCSS security conventions and uses an SMS two-factor confirmation framework and Google Authenticator for withdrawal check and security changes.
The best thing about Binance is that it has been moving and updating itself with time as per the requirements of its users. From creating their very own blockchain, better known as Binance Chain, to offering De-Fi and NFT, there is already so much and more to come. We are going to dwell on the most important aspect of how to transfer from Binance to Coinbase in the next paragraph. On our site, you can also find a full Binance review.
How to Transfer from Binance to Coinbase: Steps
These steps can help you transfer from Binance to Coinbase seamlessly:
Step 1: Create Coinbase Wallet
For you to transfer from Binance to Coinbase seamlessly, you will first need to create a Coinbase wallet. To do this, you will have to sign up with Coinbase. Thereafter, you will maneuver your way to Crypto Addresses and then select Create New Address.
Any address that you will create with Coinbase will remain with Coinbase forever, and you will access it any time you wish. Even though the Coinbase address is intuitive, you can easily maneuver to the needed location.
Step 2: Log in to your Binance Account
Once you have created a Coinbase address, you will then go ahead to log in to your Binance account. You should understand that the addresses that you have created should belong to the same coin in which you will be conducting the transaction. If you use different addresses, the funds you intend to transfer will be lost permanently. Let’s move forward to see how to transfer from Binance to Coinbase.
Step 3: Start the Transfer Process
Once you have completed the first two steps, you will log into your Binance account and select the wallet option displayed at the top of your screen. Thereafter, you will select the Fiat and Spot option. After that, your Binance account will be ready to initiate a withdrawal after you select Withdraw option displayed on your Binance account.
Step 4: Paste the Recipient’s Address
The withdrawal process will require you to select the cryptocurrency that you wish to withdraw. As previously explained, the crypto addresses for both wallets need to match. If they do not match, you can always go back to the previous steps and change the information to suit your expected transfer.
Step 5: Double Check the Withdrawal Process
Dealing with cryptocurrency is usually an intense affair, and therefore, before you finalize any withdrawal process, you will first need to double-check every detail. Currently, Coinbase does not support the Binance chain. In that case, you will be required to use another network.
Making a selection of the wrong wallet address, the wrong network, and any other piece of crucial information will put you at a disadvantage of losing your crypto funds permanently.
Step 6: Complete the Transfer
This final step from how to transfer from Binance to Coinbase ensures your crypto transfer is a success. To complete this last process, you will need to look at the whole withdrawal procedure and ascertain these three things. First, you will look at the Withdrawal Amount. The withdrawal amount refers to the amount of crypto you will wish to transfer.
This amount should match your initially intended figure. The second thing you will need to confirm is the Withdrawal Address. The withdrawal address is where you intend your funds to end up. This address should be the correct Coinbase address that you had created earlier.
Once you confirm the address, you can proceed to the final step. You will be required to complete the Two-Factor Authentication process before hitting the submit button.
Since you hit the Submit button, the withdrawal process will be initiated, and the funds will be transferred to the required address. The transfer process takes about 30 minutes to complete. However, it can take longer depending on how much congestion the network is experiencing.
However, in the case upon which it takes more than 24 hours, you should contact your exchange support team right away. The same procedure can be used to transfer from Coinbase to Binance.
We also recommend: Best Cryptocurrency App in India
How to Transfer from Binance to Coinbase – Conclusion
Transferring cryptocurrency from Binance to Coinbase is not a complicated process. However, you will need to be extremely cautious about the details of the transfer before completing the process to prevent permanent loss of funds. In addition, the cost of transfer is complexly dependent on the network as well as the cryptocurrency you need to transfer.
In that case, it would be better if you confirm the charges before embarking on the withdrawal process. This is important whether you want to transfer from Binance to Coinbase or from Coinbase to Binance.
Note: This post was originally published on 22 September 2021 and has been totally updated for the completeness and veracity of the content on 22 February 2022.
Don’t miss a thing, sign up for our newsletter