- Trading digital assets for money can be a daunting and stressful task for some
- As long as you follow the steps that we are going to indicate, you should not have problems withdrawing your money
- What are the keys for a successful withdrawal on Binance or another service?
There are many people who, in the midst of the inflationary run in recent months, decided to protect their savings by acquiring cryptocurrencies. A good percentage of them did so by buying them in one of the most famous services in this area, such as Binance. Now that things seem to be stabilizing little by little, this may be the moment to recover some of the investment. So If you have money from this platform but you don’t know how to get it to your bank accounts, read this guide to withdraw cryptocurrencies from Binance.
It is curious how every day questions arise in forums and social networks related to the withdrawal process within Binance, and that is because the majority of users have obtained cryptos but have not yet sold them. Exceptionally there will be those who have been doing both, but this article is not for them.
On the other hand, there are newcomers to cryptocurrency exchanges, who bought some of them in recent weeks and now want to withdraw their money taking advantage of the slight rise in Bitcoin, for example.
In any case, for subjects without experience in this type of task, changing their digital assets can be an overwhelming and stressful task, in which they feel Fear of the possibility of losing your savings or investments.
As long as you follow the steps that we are going to indicate, you will not have problems withdrawing your money.
Understanding cryptocurrency withdrawals
But before going into the details, because withdrawals on Binance are really very simple, you should learn how cryptocurrency withdrawals work in general, something that will help you withdraw money from anywhere.
The first and most important thing is to know that the withdrawal process is irreversible, so if you do something wrong you will probably lose the money. Only in the best of cases, a kind soul will return what was sent by mistake. We insist on this so that you review all the data related to the accounts that participate in the operation.
On the other hand, you have to be aware that there are withdrawal fees that apply to this type of transaction. They depend on each of the exchanges, so Binance has its own but they will be different in others. They can also be different depending on the cryptocurrency you are working with, so pay attention.
How to prepare for withdrawal and withdraw your money from Binance?
Before you withdraw your crypto from Binance, there are a few things you need to prepare.
You must have a personal wallet that is among those supported by the cryptocurrency you are withdrawing. Assuming you don’t have a supported personal wallet, you can set up a wallet with Metamask.
And finally, you should have the Necessary funds in your Binance account to cover the withdrawal fee. Basically, we mean that you can never withdraw the entire funds because there are fees to cover.
- Log into your Binance account and navigate to the Wallet, Fiat and spot section, then click withdraw
- Select the cryptocurrency you wish to withdraw from the Select Currency dropdown menu
- Enter the address of your personal wallet, verifying that all the data is correct
- Select the appropriate blockchain network for your current withdrawal address
- Set the amount of cryptocurrency you are going to withdraw and move forward
- Enter the security codes that Binance will send you
Within minutes, your money should be available for you to do whatever you want to do with it.
Withdrawing crypto from Binance might seem daunting if you’ve never done it, but it is an easy operation. With a little preparation and the right knowledge you will enjoy your money in no time, without wasting time.
By following the recommendations and procedures in this guide, we are sure that you will avoid major problems. In addition, Binance itself offers more information and captures in this link on its official website, in case you have any doubts.
In this way you will make sure that all your digital assets are safe and that you have control over them. Just remember to verify the information you provide. If you do it right the first time, it will be enough. Normally the platforms save your data, so it is difficult that later there will be mistakes.
Have you withdrawn assets from Binance for the first time? In which cryptocurrency do you usually invest your money?