TL;DR
The process to withdraw your funds on Binance depends on the cryptocurrency or fiat currency you want to move. Some crypto can be withdrawn to multiple, different blockchains, so take care to select the right one.
The time it takes to withdraw funds differs on the method you’re using. For crypto withdrawals, each blockchain will require a certain amount of confirmations before it shows up in your wallet. You can check the status of your transaction by using the respective blockchain explorer.
Occasionally, Binance might suspend withdrawals due to technical upgrades. Binance will inform you if this is the case. If your withdrawal is still taking too long after checking all the possible reasons, you can get in touch with Binance’s customer support.
Introduction
If you want to transfer funds out of your Binance account, you’ll need to go through the withdrawal process. The process will change depending on the blockchain, cryptocurrency, or fiat that you want to withdraw. Overall, it’s very simple, but you should be careful to follow each step closely to make sure you don’t accidentally lose your funds.
How to withdraw cryptocurrency from Binance
In this example, we will be withdrawing BNB to Trust Wallet and going through it step-by-step.
1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].
2. Click on [Withdraw].
3. Select the [Crypto] tab and choose the cryptocurrency you’d like to withdraw.
4. If the cryptocurrency is issued on multiple networks, select which one you’d like to make your withdrawal on.
For example, BNB is issued on Binance Beacon Chain (former Binance Chain) as a BEP-2 token and on BNB Smart Chain (former Binance Smart Chain, BSC) as a BEP-20 token. As such, if you’d like to withdraw to a BEP-2 wallet address, choose the BEP-2 option. Be extra careful with this step. If you withdraw to the wrong address, you might lose your crypto assets.
5. Tap on BNB in your Trust Wallet.
6. Tap on [Receive].
7. Copy your BNB address.
8. Paste it in [Recipient’s BNB Address] on the Binance withdrawal page. If everything looks good, click on [Submit].
9. Click on [Send Code], and enter the six-digit code you received in your email.
10. Enter your 2FA code. If everything is in order, click [Submit]. You’ll be able to see your outgoing withdrawals in your Transaction history.
How to withdraw fiat currency from Binance
Binance supports more than 60 fiat currencies and multiple different payment methods.
1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].
2. Click on [Withdraw].
3. Select the [Fiat] tab.
4. Select the fiat currency you’d like to withdraw and the payment method. The payment method options are based on your selected currency and region.
5. Enter the required details and follow the instructions.
6. And enter your verification code to confirm the withdrawal.
What are crypto withdrawal fees?
Withdrawing crypto from your Binance account incurs fees to cover the cost of network transactions. For example, removing BNB or Ether (ETH) requires Binance to send the crypto to a different crypto wallet on the blockchain.
In other words, any transaction on BNB Smart Chain (former Binance Smart Chain), BNB Beacon Chain (Binance Chain), or Ethereum requires a gas fee that the user must pay to miners. Binance passes on the cost of this transaction fee to the user.
Each blockchain has its own fee schedule, so your crypto withdrawal fees will vary from coin to coin. Fees are also dynamic and change depending on network activity. The best and most accurate way to check withdrawal fees is to go to the withdrawal page itself.
What’s the minimum withdrawal amount on Binance?
Each cryptocurrency has a minimum withdrawal amount. You cannot withdraw less than the stated amount on the withdrawal page. You can see a list of all the minimum amounts and withdrawal fees on our Deposit & Withdrawal Fees.
How long does a withdrawal take on Binance?
Binance will process your withdrawal as soon as requested, but each blockchain takes different amounts of time to confirm your transaction. Bitcoin (BTC) can take on average anywhere from around ten to 30 minutes to successfully confirm a withdrawal. BNB Smart Chain withdrawals often take just a few minutes, whereas Ethereum can take slightly longer. The more congested a network is with traffic, the longer you will have to wait.
Why is my Binance withdrawal stuck processing?
Your transaction might be stuck because the blockchain still needs to confirm your transaction or is congested. As we mentioned before, some blockchains need more network confirmations than others. In periods of heavy traffic, the transactions may take much longer than expected.
Why can’t I withdraw from Binance?
There are a few possible reasons why you can’t withdraw from Binance. First, if you have recently changed your password or disabled your SMS/Google authentication, Binance will suspend withdrawals for 24 hours. If you do a complete reset of your SMS/Google authentication, Binance will suspend withdrawals for 48 hours.
If Binance detects any abnormal activity in your account, the withdrawal function will again be temporarily suspended. This stoppage is to protect your account and funds. Also, occasionally Binance works on system upgrades which require stopping withdrawals until the update is complete.
What should I do if my Binance withdrawal has not arrived?
If you have checked that the blockchain is not congested and your withdrawal still hasn’t arrived, contact Binance’s support team for more assistance. If you’re attempting to withdraw fiat to your bank, this can take multiple days.
Closing thoughts
Withdrawing your crypto from Binance is a simple process that typically goes without problems. Whether you want to take out fiat or move crypto, all the information you’ll need is displayed on the withdrawal page. If you are having trouble, check your emails to see if Binance has possibly suspended withdrawals. You can also look at a blockchain explorer to check network congestion. Overall, patience is key here. More often than not, all problems are temporary. But if you still are struggling, then Binance’s support team will be happy to assist.
