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Do you want to know how to transfer from Binance to Coinbase account?
Coinbase and Binance are the two most popularly-known exchanges used by cryptocurrency holders today. However, most people are looking for ways to transfer from Binance to Coinbase.
With a wide range of cryptocurrency exchanges and wallets available today, it is becoming very common for crypto holders to transfer their assets across their networks.
Based on what you are looking for, it is important for one to know how to transfer from Binance to Coinbase account.
In this article, we will talk about various aspects related to this topic, like:
- Things You Need To Understand Before You Can Transfer The Cryptocurrency
- Methods To Transfer From Binance To Coinbase
- Tips Related To Controlling Your Crypto Funds Properly
Before we can get into the gist of this article, let us learn about some basics first. Let us first look into Coinbase.
Coinbase is one of the largest cryptocurrency exchanges and has more than 73 million users from more than 100 countries around the world.
As of now, Coinbase has maintained assets worth more than $255 billion.
Established in 2012, Coinbase is known to be the easiest place where you can trade cryptocurrency.
Here are some features of Coinbase:
Great Choice For Mainstream Investors
While cryptocurrency is quite new, it has still expanded into a separate universe that may be difficult to understand, particularly if you are new to this world.
However, it is known that major cryptocurrencies, like Bitcoin, view small and large price fluctuations, which also provides an opportunity for big gains if you can handle the risk.
Coinbase is one of these exchanges.
Fewer Features But More Vetting
The US-based cryptocurrency exchange offers more than 50 types of crypto coins for trading, including major ones like XRP, Ethereum, and Bitcoin.
The selection of coins that you see at Coinbase is its winning point, as well as losing.
While you will find almost all the major cryptocurrencies at Coinbase, you will see a relatively small number of other crypto coins that are available in the market.
However, most investors would agree that it is a good thing.
While the number of crypto coins is limited here, they have been vetted and imposed with KYC protocols to minimize fraud.
Hence, most mainstream traders are happy with Coinbase as they would rather not risk trying out new coins that the broader market has not yet discovered.
Easier To Understand And Use
Finally, Coinbase is much easier to understand and use because it is oriented towards the retail market. This can be seen in the design of the product as well.
For instance, the trading is well-displayed and clear. You can find all relevant data like volume and pricing easily.
Thanks to the valuable and intuitive design, you can easily swap the coins in your portfolio. If you are looking for sophisticated trading, Coinbase may help you hit an upper limit soon.
On the other hand, Binance is a crypto-based ecosystem that is mostly used by experienced investors.
Based on the trading volume alone, Binance is also one of the largest exchanges for cryptocurrency worldwide.
Some of its features include:
Higher Risks, More Opportunities
It is safe to say that you will find more than 500 types of crypto coins available in Binance for traders.
This means that Binance, in theory, is a much better market where you can find emerging and undervalued coins, unlike Coinbase which is known to only host well-established coins.
Additionally, Binance tends to avoid any type of regulation and does not conduct the KYC process, which means that it can add more types of cryptocurrencies easily.
This makes Binance a much better choice when it comes to the types of offerings, which is quite significant.
However, it is known that the crypto market is currently filled with fraudulent and illegal assets.
This will create a major risk for investors; for instance, they will not be able to differentiate between an undervalued token and the one being avoided because it is a scam.
While you may find some value, you need to be careful.
Another great aspect of Binance is that you will be provided with a wide range of advanced tools like custom-charting and custom API keys.
Unlike Coinbase, you will be provided with various types of data related to trading. You will be able to pull more sophisticated data in ways that are not supported by Coinbase.
However, the toolkit will also depend on the ease of use factor. If you simply need to buy low and sell high, this toolkit will very well confuse you.
However, if you are an advanced trader, then Binance is the right tool for you.
Binance is known to offer much cheaper rates than Coinbase. On most of the trades, you will be charged a fee of only 0.10%.
As for bank and debit/credit card purchases, you will be charged not more than 0.10% and 2.10% respectively.
When compared to Binance, the fees are very less and will prove to be more valuable to high-volume traders whose majority of the margin gets consumed by the higher fees in Coinbase.
Things You Need To Understand Before You know how to Transfer from Binance to Coinbase account
At crypto exchanges, you will find a wide range of methods that can help you transfer funds.
In most cases, you should not face any issue when you are transferring the funds from Binance to Coinbase as both platforms are considered the best in the industry.
However, there are still certain aspects that you need to remember before you transfer funds between the two crypto exchanges:
1. Binance VS Coinbase
As mentioned before, Coinbase and Binance are two of the most popular and prominent crypto exchanges in the market today.
These two exchanges offer their services to millions of crypto enthusiasts daily and offer nearly limitless trading volume.
At Coinbase, you have the option to manage and send cryptocurrency while Binance offers the same service with a bit more add-ons.
Even if you have transferred all your funds from Coinbase to Binance, you have the choice to delete your Coinbase account.
Ultimately, it will all depend on your choices and preferences.
2. Know The Daily Limit On Binance
If your Binance Verification Process is still pending, there will be certain limits on your daily operations and trading. These limitations can potentially affect your Binance account.
However, the limitation is less strict when it comes to withdrawing your crypto coins. For instance, you can easily transfer a large amount of Bitcoin without having to deal with any problem.
In either case, it is important that you get your Binance and Coinbase profiles verified so that you can keep transferring funds with no limitations.
3. Controlling Your Crypto Assets
Having a grip over your crypto assets, no matter the exchange you use is very important. Control on your crypto assets will also help you transfer from Binance to Coinbase.
For instance, there are certain regulations related to cryptocurrency that you need to comply with. This will help you manage your transaction history in the right way.
Methods To Transfer From Binance To Coinbase
As mentioned previously, Coinbase and Binance are two great choices if you want to keep trading your coins and/or manage them.
No matter what crypto coins you are planning to send (like Bitcoin, BTC, etc.), you need to pay attention to this method that we have discussed below:
Step 1: Find The Wallet Address Of Your Coinbase Account
The first thing that you would require to send cryptocurrency is a wallet address – you have the choice to choose whatever address you want, like ETH address, BTC address, etc.
To do this, you will require the wallet address of the Coinbase user to whom you are planning to transfer the funds.
Overall, the dashboard at Coinbase is very smooth and intuitive. If you have no idea how to acquire your Coinbase wallet address, you can refer to this article. This process should not take more than a few minutes to get done with.
Step 2: Log In Your Account On Binance
After you get your hands on the wallet address, you need to head over to the official Binance website and log in to your account.
One thing you need to note here is that the wallet address needs to be the same as the crypto coin that you are planning to send.
For instance, if you want to send ETH from your Binance account and you make use of the Bitcoin wallet address, your ETH will be lost forever.
Step 3: Fiat And Spot Fund Transfer
After you are logged into your Binance account, you need to scroll to the top of the page and tap on the Wallet option.
Here, you need to click on ‘Fiat and Spot’. Once done, simply tap on the ‘Withdraw’ option on your account.
Step 4: Copy And Paste The Address Of The Recipient
For transferring the crypto coins, you need to select ‘Withdraw’. Or else, you simply have to select the cryptocurrency that you want to transfer and then tap on Proceed.
To prevent the input of wrong information, it is always better to check whether the Coinbase and the Binance recipient addresses match.
Step 5: Always Check The Transactions Carefully
Now, this is a very important step. If you did not know already, the Binance chain does not have any support for Coinbase.
Hence, you will be required to utilize some other network – in this case, you will have to use the native cryptocurrency blockchain.
There are various reasons why you may end up permanently losing your funds, like entering wrong information, wrong wallet address, or selecting the wrong network.
Therefore, ensure that you check all the information before you can proceed with the transfer.
When it comes to Binance, the exchange is known to be more intuitive and easier for certain cryptocurrencies, like Ethereum and Bitcoin.
Step 6: Finalize The Fund Transfer
As for the final few steps of this process, you just have to ensure certain points, like:
- Amount To Be Withdrawn: As you can guess, this is the total amount of crypto coins that you want to transfer.
- The Withdrawal Address: The address of the recipient needs to be right; once checked, copy and paste the address to the address section.
- T-FA (Two-Factor Authentication): Completing the T-FA will ensure that you have authorized the transaction and you are ready to tap on the Submit button.
With the help of the method mentioned above, you will be able to transfer from Binance to Coinbase with no problems.
If you are looking for more information, you can check out our website.
Here are some FAQs related to transferring funds from Binance to Coinbase:
What Is The Total Time Taken To Complete The Said Transaction?
Overall, the transfer from Binance to Coinbase process should not take more than 30 minutes.
Depending on the speed of the internet, the process can be longer or shorter than the predicted time.
However, it is important that you get in touch with the exchange support team immediately if the process takes more than 24 hours.
What Is The Cost For Transferring Funds From Binance To Coinbase?
The related fees will vary based on the amount of cryptocurrency you want to transfer and your network.
In most cases, the fees are quite affordable. If you are looking for more information on how to transfer from Binance to Coinbase account, you can check it out here.