Binance has been around since 2017 and has catered to the extended need for cryptocurrency. It is one of the best websites where you can trade, buy, and transfer cryptocurrency, or a more widely known form of Bitcoin. This website is the ultimate go-to for crypto miners.
Counbase is an equally famous cryptocurrency site that helps people mine, transfer, and store cryptocurrency. It was founded in 2012 and has been catering to its customers ever since. It employed a good amount of people by having no physical outlets or headquarters.
The exchange between sites can be done rather easily and does not require a lot of work. A few simple steps will enable you to transfer Bitcoins and other virtual currencies.
In this article, we will go through the simple process which allows you to transfer crypto from Coinbase to Binance.
How To Transfer Crypto From Coinbase To Binance
For crypto exchanges everything needs to be done online you do not have a physical outlet to revert to and simply get a cash withdrawal and then deposit it to the desired account.
You need to be able to maneuver your way through each thing and then send the desired amount. Even though this sounds a little complicated, once you get to the physical task of performing it and are at the point of sending and receiving the currency, it can become easier.
When you want to make the transaction from Coinbase, you will firstly need to sort some things out with Binance. Your wallet address should be copied and applied on the Coinbase “send/receive” page to deposit the desired amount.
Since these are online transactions you need to have the correct wallet address to ensure that you are not sending it to some random link. Since these links are intricate and are harder to remember, copying and pasting is the way to go.
To make it easier to understand, take it as remembering the account number you want to send real money to from your bank. You would write it in the “transfer to” section and send the money.
The same concept is applied in this case, the only difference being the transfer of a digital currency.
To attain this cryptocurrency wallet address you need to go through a few simple steps.
You will first need to log into your Binance account and find your way to the main page which will be shown as soon as you log in. Your home screen will be displayed and on the top bar there will be certain words written, “Orders” and “Wallet”. You need to click on the wallet tab to expand it and there you will find the option of “Fiat and Spot”.
2. Search For The Desired Crypto To Deposit
After landing on the “Fiat and Spot” page you will be able to see all the amounts of the cryptocurrency you own and the balance available on each one. Once you’re sure which one of the crypto’s you want to deposit you need to search it up in the coin bar.
After you’re done with the selection, you will be able to select the tab of “deposit”.
3. Copy The Address Available
Once you click deposit the tab will show the coin’s wallet address. You also need to change the coin to the desired cryptocurrency you want to send. For example, if you choose “Bitcoin” it will show “BTC Bitcoin”. On the next page, it will show your crypto wallet address, click copy or duplicate the address.
4. Receive And Send In Coinbase
Once everything is done and dusted you simply need to log into Coinbase and go to the “Send and Receive” option and paste the copied address. Enter the amount of currency you want to send to Binance, then you need to paste the copied address in the “To” field. Select the cryptocurrency you want to pay with and hit send. The estimated time will be displayed and the amount will be sent in a little while.
The Bottom Line
These are a few steps that you can follow to efficiently transfer cryptocurrency from one platform to another. Make sure that your information is correct and the address is entered as it is. Otherwise, you may end up making a mistake and delay the transaction.