How to use Binance
This is how you deposit cryptocurrencies in Binance
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How to deposit and withdraw cryptocurrencies
You can carry out a crypto transfer from an external platform to your Binance account in a few simple steps:
1. Log into your Binance account and go to the wallet overview page.
2. Click on [Deposit] at the top right of your screen
3. Select [Deposit cryptos]
4. Choose the cryptocurrency you want to deposit. In this example we want to deposit USDT.
5. Select the deposit network. Make sure the network you choose matches the network of the platform from which you are pulling the assets.
Warning: If you choose the wrong network, your assets will be lost!
The deposit networks at a glance:
- BEP2 stands for the Binance Chain.
- BEP20 stands for the Binance Smart Chain (BSC).
- ERC20 stands for the Ethereum network.
- OMNI stands for Omni Layer, which runs on the Bitcoin network.
- TRC20 stands for the TRON network.
- BTC stands for the Bitcoin network.
- BTC (SegWit) refers to Native Segwit (bech32). Corresponding addresses start with "bc1". Users can withdraw or send Bitcoin to SegWit addresses (bech32). You can find more details on this in our FAQ on Segregated Witness (SegWit)
6. In this example we will withdraw USDT from an external platform and deposit it with Binance. Since we are making the withdrawal from an ERC20 address (Ethereum blockchain), we choose ERC20 as the deposit network.
- The choice of network depends on the options supported by the external wallet / platform from which you are transacting.
- If the external platform only supports ERC20, you have to select ERC20 as the deposit network.
- DO NOT choose the cheapest fee option, choose the one that is compatible with the external platform.
- Example: You can only send ERC20 tokens to other ERC20 addresses and BSC tokens only to other BSC addresses. If you select an incompatible / different deposit network, your assets will be lost.
7. Copy the deposit address provided by Binance and paste it into the address area of the respective platform (from which you want to make the withdrawal).
8. Confirm the withdrawal request and then wait for the transaction to be confirmed. The confirmation time depends on the blockchain and the network load.
Please be patient until the transaction is completed. The assets will be credited to your Binance account shortly afterwards.
9. You can find the transaction details on the [Transaction History] page.
You can carry out a crypto transfer from your Binance account to an external platform in a few simple steps:
1. Log into your Binance account and go to the wallet overview page
2. Click on [Withdrawal] at the top right of your screen
3. Choose the cryptocurrency that you want to withdraw. In this example we want to pay out BNB.
4. Select the network (BEP2 for the Binance Chain or BEP20 for the Binance Smart Chain). In this example we will use the Binance Chain (BEP2) as a network.
5. Next, you need to select the recipient's address from your address list.
- If the recipient address is already in your whitelist, you can skip to step 6. Otherwise, please proceed as follows to add a new recipient address.
5.1 How to add a new recipient address:
If the address in question is not yet in your address list, go to [Address Management] to add a new recipient.
5.2 Click on [Add Withdrawal Address] at the top right of your screen.
5.3 Select the asset and the network and enter the address.
- Wallet name is the name for the payout address so that you don't forget which wallet or recipient the address refers to.
- A memo is required depending on the transaction. For example, you need to provide a memo when you send assets to another Binance account or another crypto exchange. If, on the other hand, you transfer assets to a Trust Wallet address, no memo is necessary.
- Please check if your transaction requires a memo or not. If a memo is required but you don't provide one, your assets may be lost.
- Please note that memos are referred to as a tag or payment ID on some crypto exchanges and crypto wallets.
5.4 When you're done, check the box next to [Add to Whitelist], then click [Submit].
5.5 Then click on [Send code].
5.6 Enter the verification code that you received by email or SMS, as well as the code from your Google Authenticator app. Then click on [Submit].
6. After you have added the recipient address to your whitelist, you can return to the payout page and select the address from your whitelist.
7. Enter the [withdrawal amount]. At this point you will be shown the transaction fee and the final amount. When you're done, click [Submit].
8. Enter the verification code that you received by email or SMS, as well as the code from your Google Authenticator app. Then click on [Submit].
Warning: If you enter incorrect information during a transfer or select the wrong network, your assets will be irretrievably lost. So make sure that all the information is correct before confirming the transaction!
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