Guildelines on binance transaction

[Mr.suevie]

I have been using binance app for buying and selling of coins but I just have one challenge with this app here in my country although I don't know if its because am not too familiar with the whole app because I can't seem to find an option where I can move the coins (btc,usdt) to a non custodial wallet like electrum. I can only see an option where I can send the coins to another binance users which is not what I want to do. So l just guidelines on how I can transfer my coins from binance to electrum wallets

[1714611805]

1714611805

[Oshosondy]

It is not hard to do.

Which app are you using? Is it the desktop or mobile app? Or you are using the web?

I am using Android not iOS but they are similar.

Which one are you using to access Binance?

[OmegaStarScream]

Open your app -> from the bottom, select 'Wallet' -> Spot -> from 'Balance' select BTC -> Withdrawal, you will then get this dialog asking you to choose whether you want to send to another Binance user or via Crypto network. Choose the latter:




You then just have to paste your Electrum address and the amount you to withdraw.

[Mr.suevie]

It is not hard to do.

Which app are you using? Is it the desktop or mobile app? Or you are using the web?

I am using Android not iOS but they are similar.

Which one are you using to access Binance?

Am using binance app on my android

[Oshosondy]

Am using binance app on my android

Follow what OmegaStarScream said, it is correct.

Make sure you send to bitcoin, the address start with 1, 3 or bc1. Any other ones are altcoins which are just sidechains.

Open your app -> from the bottom, select 'Wallet' -> Spot -> from 'Balance' select BTC -> Withdrawal, you will then get this dialog asking

Or  better still, do this:

Open your app -> from the bottom, select 'Wallet' -> Spot -> withdraw -> select the coin and the image OmegaStarScream posted would be seen.

Check and recheck the address you are sending to, make sure it is correct.

[PX-Z]

Always remember when it comes to an exchange platform, for transferring your assets to any wallet regardless you own it or not, you will always use the "Withdraw" feature of the exchange.

Even sending to binance user address is through withdrawal as well, the difference is binance can check if the wallet is a binance wallet so there's no withdrawal fee will be deducted.

[Mr.suevie]

Thanks for the update senior.That's why they say knowledge is power, I never knew it's this simple to actually send coins off binance app. But the charge rate is very high for sending of BTC

[OmegaStarScream]

Thanks for the update senior.That's why they say knowledge is power, I never knew it's this simple to actually send coins off binance app. But the charge rate is very high for sending of BTC

You can always convert your BTC to another crypto that has low withdrawal fees in Binance, send that OKX.com, and then trade it back to BTC and withdraw it from there. Using the lightning network would be preferred, but even the on-chain fees are better than binance's.

Just don't use other networks (BSC, ETH etc.) if it's cheaper. See this[1].

[1] https://bitcointalk.org/index.php?topic=5420769.msg61281800#msg61281800

[rat03gopoh]

But the charge rate is very high for sending of BTC

That is the consequence of withdrawing bitcoins from the exchange, those fees are determined by the exchange. And there is no idea of reducing the fee, the only thing is you have to find a trusted trader outside the platform who is willing to trade Bitcoin on binance for bitcoin on-chain.

[jrrsparkles]

But the charge rate is very high for sending of BTC

That is the consequence of withdrawing bitcoins from the exchange, those fees are determined by the exchange. And there is no idea of reducing the fee, the only thing is you have to find a trusted trader outside the platform who is willing to trade Bitcoin on binance for bitcoin on-chain.

Its hard to find though and since OP is newbie I don't prefer trading with someone personally without any trading platform because its easy for someone to trick such users with fake payment proofs or any other excuses or make them to send first then block them so in that case we are in need of escrow then again its expensive too so just use the withdrawal all at once in a while or choose other cryto with less withdrawal fee.

[khaled0111]

Other members already explained how to withdraw your coins from binance to an external wallet (on-chain transaction).
Now that you know how to do that, you need to be careful when choosing which network to use! Usually, binance will automatically select the right chain based on the provided address but you need to double check it before withdrawing. Better be safe than sorry.