Cheapest Way To Withdraw From Binance Account?

[jrrsparkles]

Since you are moving the funds to your hardware wallet so I am assuming that you have no intention of trading them in near future so I won't prefer the cheapest withdrawal option at this moment since in long term the best coin is more important for that bitcoin is more preferred or if you don't want your portfolio to grow then you can go for a stable coin.

It depends on the people itself, saving cryptos in a hardware wallet doesn't always mean they want to save it for a long term but saving cryptos in hardware wallet is a must if we already have hardware wallet, because it's the safest wallet available right now.
And for the OP case, most replies are recommend to sell it into BNB and transfer it to your hardware wallet because it has the cheapest fee.
Don't worry if you can't use binance exchange to sell it, there's many way to access the exchanges on the internet 

If we only take the withdrawal fee into the account then withdrawing it as BNB seems more cheaper but when I am looking it as an asset to protect the value of the asset its not really a wise choice to go with BNB or other altcoins just because it has cheaper withdrawal and transaction fee.

[Rengga Jati]

Sell that 8 dollar worth of btc for usdt/usdc?   Then sell the 5 dollar bnb for usdt/usdc?  Then withdraw either the usdt/usdc and the altcoin to my nano ledger?

Hi mate, have you read these trading rules?
https://www.binance.com/en/trade-rule
The minimum trading with fiat pairs is $10...

And for the withdrawal fee, you can check completely on this and you should know which is best including the minimum amount and also fee to spend:
https://www.binance.com/en/fee/cryptoFee

And about to connect your Binance with a ledger nano with BSC, you can read this:
https://academy.binance.com/en/articles/how-to-connect-a-ledger-nano-to-binance-smart-chain-bsc

[jerry0]

I just thought about something else.


If I trade the altcoin for BUSD.  Then trade the tiny amount of bnb and btc i have for BUSD... then withdraw that BUSD to my nano ledger... would that work?  Would that be like the cheapest way since by doing that... you pay 0.8 BUSD only?  But not only that... you don't have to be concerned about price fluctations since its a flat dollar?  But compared to usdt/usdc... you dont have to pay that higher fee if its on that ETH Network?
Thus even if i traded it all for BNB, well im still subject to price fluctuations right?  So BUSD makes the most sense?  Or second option is just convert everything to btc and withdraw that way and pay the fee?


But my situation though is i would only be able to use coinbase/gemini due to my citizenship and country location though.  And I notice BNB and BUSD... the only exchanges you could buy/sell it is binance and binance.US which i cannot use.  So would this pose a problem for me in the future?  But people say there are peer to peer exchanges where you can trade with others in situations like this?  But how much more percentage would one have to pay?  Example imagine having around 2000 BUSD and wanting to convert that to btc or fiat or usdt/usdc.  How much percentage around would that be?



Also to the person that said


The minimum trading with fiat pairs is $10...


You are telling me i can't sell 5 dollar worth of BNB for btc or BUSD or usdc/usdt?


I thought only USD is fiat?  Isn't BUSD, usdc/usdt not fiat?

[Myleschetty]

Selling all the altcoin, the small BTC and BCH to USDT seem to be a good idea since the withdrawal fee of USDT is always 1USDT on Binance. However, if you don't mind changing the whole coin to LTC, Tron, and Stellar which are the altcoin with the cheapest transaction fee.

[Barinekapaul]

I have an altcoin on binance that I need to withdraw.  I also have a tiny bit of btc and bnb on it as well.  


Basically i have roughly 2000 dollars worth of altcoin and about 8 dollars worth of btc and 5 dollars worth of bnb.


I would like to withdraw everything to my hardware wallet nano ledger s.  I only keep btc and bch in my nano ledger s.




My options seem to be



Sell that 8 dollar worth of btc for usdt/usdc?   Then sell the 5 dollar bnb for usdt/usdc?  Then withdraw either the usdt/usdc and the altcoin to my nano ledger?


Sell that 5 dollar worth of bnb for btc.  Sell that 13 dollar worth of btc for that same altcoin I have.  Then withdraw that altcoin whole balance to my nano ledger?


Sell the altcoin for btc.  That altcoin can only be traded for BTC or ETH.  Sell the 5 dollar worth of bnb fo btc.  Then withdraw the whole btc balance to my nano ledger?



It wouldn't make sense to just


Withdraw Altcoin to nano ledger.  Withdraw btc to nano ledger.  Withdraw bnb to nano ledger.  Since the withdraw fee to withdraw btc is higher than my btc balance?

Your ways are not bad at all as I believe you have been using them for quite some time.
Though I will like to give it a try at some point in time.
Though it differs from the one I have been using.

[LordMiguel]

I think the best you can do to prevent withdrawal cost is to stick with BSC chain. it is cheap and fast. i think it is the cheapest among all the blockchain offered by binance. although there is Binance chain which is cheap but so many platforms or tokens are not on that chain and also binance might close that blockchain in the future since there is the EVM which supports ethereum Layer 2. for me, i will move my token to solana, i think it is the project about to explode.

[jerry0]

Can anyone answer my question on just converting everything to BUSD instead and withdrawing it to nano ledger?


Would i save money on withdraw fees?  It seem yes but isn't the issue of when i want to send BUSD to an exchange, i have to pay ETH fees like the current altcoin I own because I read BUSD is an ETH coin? 



Or it isn't?

[tranthidung]

Can anyone answer my question on just converting everything to BUSD instead and withdrawing it to nano ledger?

I don't use Nano Ledger so I can not answer you about it. But you must check that what chain Nano Ledger supports for BUSD.

Would i save money on withdraw fees?  It seem yes but isn't the issue of when i want to send BUSD to an exchange, i have to pay ETH fees like the current altcoin I own because I read BUSD is an ETH coin?  

On Binance, to withdraw BUSD, you have 3 chains to choose ^{click on Withdraw > BUSD, you will get details}

• Binance Chain (BEP2): Fee 0.5 BUSD
• Binance Smart Chain (BEP20): Fee 0 BUSD
• Ethereum (ERC20): Fee 25 BUSD

If Ledger Nano supports Binance Smart Chain for BUSD, it would be your best option.

• How to Connect a Ledger Nano to Binance Smart Chain (BSC)?
• Fee is 0 BUSD, so why do you not practice it yourself with a small withdrawal?

[pawanjain]

The thing is if you want to hold bitcoin then you will have to bare the cost of 0.0005 BTC as withdrawal fees.
So if you decide to hold BTC then sell all coins for BTC and simply withdraw BTC to your hardware wallet.

If you want to hold the altcoin then you can sell BTC for BNB and buy that altcoin from the total BNB and withdraw the altcoin to your wallet.
Again if you want to hold the coin then you will have to bare the cost of withdrawal charges.

If you are stubborn not to spend more on withdrawal fees and want to hold a good coin then you can sell all coins and buy solana.
The withdrawal fees is not that big and also after transferring the SOL to your hardware wallet you can stake it too.
This will earn you passive income for holding your coins.

Again, all of this depends on what your priority is and I would suggest to hold BTC since that's the safest coin to HODL.
Don't think much about the withdrawal fees since that would be covered within a day's pump.

[Yamifoud]

You've got beaten actually with fees but that is how it works this time and the fees will also increase once the demand is high.
What I did was just save a few bucks, I converted it XRP as my receiving wallet (third-party) support XRP, and I just only pay below $1. But I'm not sure if this will work on you. If this is not applicable in your country, I think you should have to accumulate more, having $1000 worth of Bitcoin for withdrawal and just pay for $10 or less, I guess it was not hurt anymore.

[HCP]

Personally... I would just suck up the conversion fees and convert everything to BTC and then withdraw the BTC.

You'll likely find that trying to withdraw multiple currencies will result in multiple overpriced withdrawal fees (in some cases, given the tiny amount you're trying to withdraw, you'll end up spending most of it in "minimum withdrawal" fees )

The small % loss you take during the conversion will likely be a lot less than minimum withdrawal fees.

Additionally, BTC is pretty much universally accepted everywhere. There are very few exchanges (if any?) that don't accept BTC. The same cannot be said for a large number of altcoins that are only listed on a few exchanges.

It also means you don't have to fuck about with potentially dodgy altcoin wallets/services... especially given your propensity for making every process/decision you make regarding cryptocurrency into a giant 20 page thread of "what if?" scenarios. You have a Ledger, it supports BTC. Problem solved.


TLDR: convert everything to BTC. Withdraw BTC to your Ledger.

[Oshosondy]

Personally... I would just suck up the conversion fees and convert everything to BTC and then withdraw the BTC.

You'll likely find that trying to withdraw multiple currencies will result in multiple overpriced withdrawal fees (in some cases, given the tiny amount you're trying to withdraw, you'll end up spending most of it in "minimum withdrawal" fees Roll Eyes Undecided)

The small % loss you take during the conversion will likely be a lot less than minimum withdrawal fees.

This can be right or wrong, it depends on the amount you want to withdraw. If you have $1000 or $2000, altcoins will still result to very low fee even after trading and withdrawal, the trading fee on binance is 0.1% which can be used for the calculation. But having over $100000 or more of bitcoin, the trading fee would have increased more than the withdrawal fee, this is when to make use of your method which makes bitcoin that will be withdrawn directly to have low fee than converting it to altcoins, that is why I am not surprised whales will only withdraw bitcoin directly.

[zasad@]

Can anyone answer my question on just converting everything to BUSD instead and withdrawing it to nano ledger?


Would i save money on withdraw fees?  It seem yes but isn't the issue of when i want to send BUSD to an exchange, i have to pay ETH fees like the current altcoin I own because I read BUSD is an ETH coin?  



Or it isn't?

jerry0, before you withdraw your coins, think carefully about what you will do with them in the future.
If you want to trade decentralized, then withdraw them to Optimism, Arbitrum or Polygon (Ethereum level 2 solutions), depending on what your exchange supports.
At Polygon, the commission is paid in MATIC tokens, at Optimism and Arbitrum in Ethereum. So you will need to make 2 withdrawal (ETH+stablecoins or MATIC+stablecoins)