With the surging value of cryptocurrency, many inventions have already been coined within the crypto community. At this time, Binance exchange platform leads as one of the most significant innovations that have rocked the industry. Even so, many people are yet to understand how to use Binance exchange and comprehend exactly how Binance works. In this article, we will look at how to withdraw from Binance?
First and foremost, Binance is fast growing and gaining a worldwide recognition each passing day. Even though it’s relatively new in the market, the company has already established itself as a very trusty platform. Binance is available in multiple languages, enables fast processing orders and only allows crypto related trading. The Binance withdrawal time is therefore a matter of a few seconds. It has built its own reputation and legacy amongst the best cryptocurrency exchange sites offering crypto to crypto exchange services in 2018. In fact a few days ago Binance claimed to be overwhelmed by the massive number of new registrations in a matter of minutes almost on a daily basis.
In this article, we look at the mechanisms involved in the making of withdrawals within the Binance exchange platform. How to withdraw from Binance on the website or Binance App and what you need.
For a successful withdrawal one must have a personal wallet that is compatible with the token being sent to it. Secondly you must be registered with Binance. In case you do not have any account with Binance click on Binance signup and create one.
Method 1: How to Withdraw from Binance Website
To withdraw from Binance, one can either do it directly from the Binance Website or use the Binance Mobile App.
1. Log in to your account.
Visit the Binance platform log into your account.
2. Go to the withdrawals page.
To withdraw your cryptocurrency tokens click on the “Funds” page just as you did while depositing the coins. Click on the ‘deposits withdrawals tab’.
3. Initiate the withdrawal process
Select the token that you would wish to withdraw such as (LTC for Litecoin, ETH for Ethereum, etc.) Click on withdrawal on the far right end.
4. Select withdrawal amount and most importantly fill in your wallet address.
- On clicking the submit button you will be opted to a new page to fill in more specified details. You will be required to fill 3 forms. Label, Address and Amount;
- Field in your username of choice, the address of your tokens wallet and the amount you wish to withdraw in that order.
- Click on the submit button.
As simple as that is all it entails to withdraw crypto coins from the Binance exchange website. Additionally, to ensure top notch security, you may be required to fill in some security questions. An e-mail will also be sent for transaction confirmation.
Method 2: How to withdraw from Binance APP
Nonetheless, withdrawal can also be made via the Binance mobile phone App available on play store.
The procedure is more or less the same.
- Download and install the Application on your handset
- Login to your account
- Go to the funds page
- Click on withdrawal
- Select token to withdraw
- Enter the amount to withdraw
- Using this app, to validate the transaction you can either enter your wallet address or tap on the QR button on the right side of the address. Use your phone to scan the QR code and tap on the withdraw button to complete the transaction.
To further authenticate your withdrawal on the mobile App, Binance will send you a verification code to fill on the above screen. Once you submit the code you will have finalized you withdraw. Certainly, your coins will now be on the way to your wallet. Sit back, relax and wait for the blockchain technology to verify your transaction and legitimize the transfer.
You can also review this video to further get a deeper insight on the basics of how to from Binance here.
Sometimes the withdrawal process may take some period of time. Many crypto enthusiasts will always rush at blaming cryptocurrency exchange providers such as Binance. On the contrary, they forget that these providers rely on blockchain technology whose efficiency and speed depends on the influx of users at a certain time. However, as long as you have followed the above procedure to the letter, rest guaranteed that your funds will ultimately land on your wallet.
Whenever making withdraws it is always of paramount importance to ensure your wallet address for making deposits and withdrawals match 100%. In case of any mistakes, you will have yourself to blame. Such minor mistakes or sending a token of Ethereum to a wallet of Bitconnect may result in permanent loss of funds and nobody is liable. You are a 100% liable for anything that happens with your tokens.