How to withdraw your money from Binance? (Take out your
It is time to withdraw our profits.
After depositing money on this exchange, trading futures and making a profit, now it’s time to enjoy the benefits, so here is an explanation of how to withdraw money on binance.
How to withdraw money from Binance?
It cánido be said that there are three different ways of withdraw money from this platformthe first is using cryptocurrenciesthe second using fiat money and the third using P2P to “withdraw” cryptos and receive euros in a bank account or other payment method.
An explanation of each of these processes is provided here beginning with direct crypto withdrawal.
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How to withdraw money from Cryptocurrencies?
When we are going to withdraw money from Binance using cryptocurrencies, it is important to know that each cryptographic currency has its Blockchain.
Therefore, each has fees and waiting times different to make withdrawals, it is not the same to make a withdrawal using BNB, than one using ETH, because the commissions of the latter are extremely high.
To make a crypto withdrawal, just follow these steps:
- Log into account, select «Wallet» and among the options choose «spot wallet».
- Clic on “Withdraw».
- Select “withdraw cryptocurrency».
- You must choose the cryptocurrency to withdraw, the address to which the withdrawal will be sent and of course, the network.
It is important to know which network is going to be used, since if the cryptocurrencies are sent to a different network, it is very likely that they will be completely lost.
Luckily, lately Binance disables networks that do not match the address of the wallet that will be used to send these funds.
- Now you must indicate the amount to withdraw.
Binance allows withdrawals from spot and from funds.
If the amount entered is available in one of these two wallets, the option “Withdraw», clic on this option.
- If everything is correct, you will have to go through the two-aspecto authentication process, that is, verification through two codes that will be sent to the mobile and to the correo electrónico.
How to withdraw fiat money from Binance?
- The first thing is to log in to the account where the funds to be withdrawn are located.
- Then you must clic on “Wallet» and select «spot wallet».
- Being in a Spot Account, you must clic on «Withdraw”.
- Select “withdraw in fiat» which is at the top.
- Choose the “Currency Type» to withdraw and the withdrawal method, the one recommended by Binance is Visa bank card.
There are other methods that cánido be seen in «Other payments».
- Then you must entrar the amount to withdraw.
- Finally, Binance will indicate that you must go through a verification process, which is the sending of two verification codes, one to the mobile and another to the correo electrónico associated with the account.
By entering both codes, the withdrawal will have been made without problems.
How to withdraw money from Binance with P2P?
Using the P2P method implies making a deal with another usuario of the platform.
Usually the traders o P2P merchants are divided by country and create ads for users to make withdrawals.
This is an easy way to make withdrawals, since there are no commissions and the money perro go directly to the bank account.
It must be taken into account that through this option only cryptos cánido be used, they are sold to the merchants of the platform.
- To start, you have to select «Wallet» and choose «Wallet Funds».
- Clic on the option «Buy Sell».
- Select at the top the option «Sell», choose the cryptocurrency to sell and the currency or fiat currency that you want to receive.
It is recommended to use the optionEspectáculo only merchant ads».
In the option «Pay» You must choose the most convenient option, such as SEPA transfer.
- The platform will espectáculo a list with the merchants who are buying cryptocurrencies in exchange for the selected currency.
On the right side of each merchant is the option «Sell».
- After choosing a merchant to sell cryptos and receive fiat money, you must follow the instructions that the platform displays.
Usually, if it’s a deposit, the merchant will do that and mark the order as “paid», at which point you must confirm that the merchant made the deposit and release the funds.
The release of the cryptos should not be made until the deposit or delivery of the fiat money has been made.
Is Binance safe and reliable? Our opinion
Binance fees for withdrawing money
When making withdrawals, the commissions depend directly on the method used:
- Visa Bank Cardthe commission is 1% of the amount to be withdrawn.
- advcash walletthe commission is 5 euros + 0.5% of the total amount.
The commissions for directly withdrawing cryptocurrencies depend on each Blockchain or network used to make the withdrawal, the most important or common networks are shown below:
- Binance Smart Chain (BSC): 0.17 euros and takes up to 5 minutes.
- Bitcoin (BTC): 16.33 euros, it takes up to 60 minutes.
- Ethereum (ETH): 21.57 euros, it will be ready in 5 minutes.
The network commission and the waiting time may vary, it all depends on the saturation that the network has at the time of making the withdrawal.
Other networks cánido be used, such as TRON, to withdraw USDT, its commission is $1 and it cánido take up to 5 minutes.
There are many more networks, you just have to take the time to know the one that best suits you to withdraw money.
Commissions to make “withdrawals” by P2P do not exist.
Of course, merchants equipo their prices and usually buy cryptocurrencies at a lower price to have some profit in exchange for giving users payments in foreign currency.
How to withdraw your money from Binance? (Get your profits like this)
How long does it take to withdraw money from Binance?
Withdrawals of euros through different methods such as Visa card, usually last a few minutes.
If cryptocurrencies are withdrawn, the withdrawal time depends on the selected network as explained above.
If P2P is used, the withdrawal time depends directly on the merchant.
Our opinion on withdrawing money from Binance
Without a doubt, Binance is a great tool for us to convert our euro cryptocurrencies.
For us, the best method is P2P knowing how to use it, since if the funds are released before receiving the fiat deposit, they will probably be lost.
However, using Visa card withdrawals is much safer, but commission must be paid, although it is only 1% of the amount.
We say goodbye wishing our readers the best, to learn more about Binance and its options, we recommend reading our article on How to send money to Binance.
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