Binance Withdraw BTC Network?

[iv4n]

I use BSC whenever it's possible/allowed by site/wallet! For example, some casinos (I am more of a gambler) have those options, we can choose the chain, and if possible I will choose BSC because of the lowest possible fees! You can check Binance for example, when you are depositing you will be asked to choose a chain, the same is when you are withdrawing from Binance!

I know this for some months, and since I learned about this I am saving money on withdrawal fees! Simple as that! And to just add except for low fees, the speed of transactions is also great!

[Dragonfund]

Binance introduced other chain for comfort and speed, this is why bitcoin are wrapped on other chains. It has also become a conventional thing in defi that bitcoin are wrapped into other chains so that they can be locked up, loan or borrow but for every wrapped bitcoin on any other network, they must be having a corresponding number bitcoin holding and whenever a bitcoin is redeemed by a user, the ones on the other chain get burn to maintain equal supply of tokens and real bitcoin.
Some users safe fees by choosing other chain and scalability.

[perryxi2]

You can by using BUSD on binance without any fees, But the problem of ETH and BTC gas fees withdrawing from binance and other exchanges is currently very high if you withdraw ETH or BTC from the exchange , you will lose 0.005 ETH and BTC withdrawal fee, this is quite expensive network fee in times of skyrocketing prices like BTC and ETH, the past few days I have withdrawn tokens on metamask but the gas fee is very high making it very difficult for me to this.

[josephdd1]

So I will most likely convert my altcoin to btc and then withdraw btc and pay the 0.005 btc fee.


I notice when i go to the withdraw network... how come there are multiple btc network?  I thought it was only one? 


I see


BNB Binance

BSC

BTC

ETH



Can someone explain how can someone withdraw btc with the other three options?  I have a nano ledger s.

Actually, we can also use Bitcoin on Binance Smart Chains, Tron, Ethereum etc, but it will be wrapped. It means that real Bitcoins are locked on Bitcoin blockchain and then a certificate appear on other chain. You are to use bridges to convert coins from one chain to another. But don't confuse chains as if you send wrapped Bitcoin (for example ERC) to chain other than Ethereum, you will lose them.

[rosenbauer02]

So I will most likely convert my altcoin to btc and then withdraw btc and pay the 0.005 btc fee.


I notice when i go to the withdraw network... how come there are multiple btc network?  I thought it was only one? 


I see


BNB Binance

BSC

BTC

ETH



Can someone explain how can someone withdraw btc with the other three options?  I have a nano ledger s.

This is because there is a backup asset of bitcoin and also ETH did also have a back up and that is called WETH or Wrapped Ethereum much like the same as Wrapped Bitcoin. If you want to withdraw BTC in main network then you have to choose Bitcoin instead of Erc20 (ethereum network), Bep20 (binance smartchain) and bep2 (binance). Just make sure you provided a wallet that has the same network like bep20 for binance smartchain wallet, erc20 for ethereum. You could also tell the difference between the bitcoin blockchain and those backup assets by looking the network.

[turneps]

Binance will process your withdrawal as soon as requested, but each blockchain will need a different amount of time to confirm your transaction. On average, Bitcoin (BTC) can take 10 to 30 minutes to successfully confirm a withdrawal. Withdrawals on Binance Smart Chain usually only take a few minutes, while Ethereum can take a little longer. The higher the traffic and the more congested the network, the longer you will have to wait.
Withdrawing crypto out of Binance is a simple and usually problem-free process. Whether you want to withdraw fiat or transfer crypto, all the information you need is displayed on the withdrawal page. If you are having issues, check your email to see if Binance is suspending withdrawals. You can also use the blockchain explorer to check for network congestion. Overall, patience is key here. Most problems are only temporary. But if you're still having trouble, the Binance Support Team will be happy to help.

[Galley]

The most optimal withdrawal of BTC from the Binance exchange in terms of payment will be the transfer to the BSC network. Their price in any case will be 1 to 1 with real bitcoin, and transactions are much faster and cheaper. This is the only way I use it. The BUSD output is worth nothing at all.

[pantek talacuik]

The most optimal withdrawal of BTC from the Binance exchange in terms of payment will be the transfer to the BSC network. Their price in any case will be 1 to 1 with real bitcoin, and transactions are much faster and cheaper. This is the only way I use it. The BUSD output is worth nothing at all.

With smaller transaction fees than directly transacting via Bitcoin. an increasingly easier way to make transactions and not wait for many confirmations. Expensive fees and a little long to make transactions in the future.

[gwdf1]

Can someone explain how can someone withdraw btc with the other three options?  I have a nano ledger s.

As you want to withdraw to your ledger you are to choose BTC network. If you choose any other options such as ETH, TRC or BSC network you will get a wrapped Bitcoin on one of these blockchain. But you will need to use another wallet for withdrawing, for example Metamask for ethereum network or tron link for Tron chain, so in your case you need to choose BTC.

[pealr12]

Okay got it ... withdraw to the btc network the third option because im using a nano ledger.



Now when I go to my nano ledger and using it with ledger live to get my btc receiving address for my nano ledger, i click on receive and i have several options to pick. 


Such as


Native segwit btc

Segwit btc


I have 0 balance in the native segwit and my full btc balance in the segwit balance.


I obviously am choosing the segwit balance right and getting that btc receiving address?  Thus it wouldn't make sense for me to withdraw btc to the native segwit?


But I could actually pick either if I like?  Or it would go through to the segwit and not the native segwit? 


I had clicked on segwit btc and then it showed me a btc receiving address.  But I didn't want to copy/paste that btc address yet to binance to withdraw until I am sure this is correct.

Whether you chose either segwit btc or native segwit btc, your coins will appear on either wallet you chose to use, I think they are different network with slightly different fees but will give same results, me I usually use native segwit btc to receive, be at ease to choose anyone provided it is supported by both side.

[Rocky993]

Etherium blockchain gas fee is constantly increasing day by day different platforms bring their own blockchain like Etherium Blockchain among the various platforms for transaction convenience yet Polygon and TRC20 are the most convenient.  Everyone will choose TRC20 as the first medium in all cases in Binance as compared to other Blockchains.

[Warkop]

Maybe with some of the options you see on that button you can choose a very low fee to send the Btc you have so as to reduce your transaction fees to send. In my opinion, this is a very good development for transacting because there are many options available to reduce transaction costs using the Binance network.

[Kavelj22]

Am i missing the context in this topic?

- While all users suggest to withdraw your coin in btc to your personal wallet, i don't see the reason, as the Ledger wallet supports already many blockchains and all the token developped in top of different chains like ERC20 and BEP20
- All those pairs shown in withdrawal interface for Binance are options to pay the fee and to choose the coin you want to withdraw, means i can withdraw my btc by paying fees in BNB or BNB.

Please don't hesitate to correct me if i am wrong