How to Withdraw from Binance to a Bank Account: Full Guide
Binance is one of the most popular cryptocurrency trading platforms, allowing users to buy, sell, and withdraw cryptocurrencies conveniently. For users looking to transfer their earnings into fiat currency (like USD, GBP, or EUR) and withdraw directly to their bank account, Binance offers a straightforward process. Here’s a detailed guide based on the image that highlights the process.
Step 1: Sell Cryptocurrency to Fiat
Before withdrawing, ensure you have converted your cryptocurrency (e.g., Bitcoin, Ethereum, or USDT) into a fiat currency supported by Binance. Here's how:
1. Log in to your Binance account via the mobile app or desktop.
2. Navigate to the Trade section and select the Sell option.
3. Choose the cryptocurrency and enter the amount you want to sell.
4. Confirm the transaction, as shown in the screenshot where 15.00 USDT was sold for £11.40.
Step 2: Access the Withdrawal Feature
After converting your crypto to fiat:
1. Go to the Wallet section in the app.
2. Select Fiat and Spot or your specific fiat wallet.
3. Tap on Withdraw and choose the fiat currency you wish to transfer to your bank account.
Step 3: Add a Bank Account
If you haven’t already linked a bank account to your Binance account:
1. Select Add Bank Account during the withdrawal process.
2. Enter your bank details carefully, including the IBAN or SWIFT code if required.
3. Verify the information and save it for future transactions.
Step 4: Initiate the Withdrawal
1. Input the amount you wish to withdraw. In the example, £11.40 is ready for transfer.
2. Confirm the transaction and double-check fees, if applicable.
3. Wait for the transaction to be processed. Bank transfers typically take 1-5 business days, depending on your bank and region.
Step 5: Track and Confirm
Once the withdrawal request is completed:
Check the status under the Transaction History tab in your wallet.
Ensure the funds have been deposited into your bank account.
Tips for Smooth Withdrawals
Check Fees: Binance often charges minimal fees for fiat withdrawals, but these vary by region and payment method.
Complete Verification: Ensure your Binance account is fully verified (KYC completed) to avoid withdrawal limits.
Use Supported Banks: Some banks may not accept crypto-related transactions. Always confirm with your bank before initiating a withdrawal.
Why Choose Binance for Crypto Withdrawals?
1. Ease of Use: Binance’s intuitive platform makes withdrawals accessible to beginners and professionals alike.
2. Low Fees: Competitive withdrawal fees ensure more of your earnings stay with you.
3. Security: Binance employs advanced encryption and security protocols to protect your funds and personal information.
In conclusion, withdrawing from Binance to your bank account is straightforward when following these steps. With its user-friendly interface and support for various fiat currencies, Binance ensures a seamless experience for traders converting their digital assets to traditional money.
