If you are wondering whether you can withdraw from Binance, the answer would definitely be yes. But if you don’t know the process of withdrawing from Binance, then look no further as we are going to talk about the same in this blog. We will be covering the topics which include methods to withdraw binance coins, how to withdraw from Binance, and how to withdraw from funds from Binance through Bitspark.
First, let’s talk about Binance. The name “Binance” is a combination of two words – Binary and Finance.
Binance is a leading blockchain company that specializes in exchanging cryptocurrencies worldwide. Since the year 2017 when it was first launched in China, it has successfully managed to be the world’s largest cryptocurrency exchange with offices in Tokyo, Shanghai, Hong Kong, Singapore, Europe, South America, and more. Binance functions as Binance Labs, Binance Info, Binance Launchpad, and various other cryptocurrencies in multiple languages. It provides a crypto wallet where the traders can securely store their electronic funds. They can also use Binance coins (BNB) i.e. Binance own token currency used for exchanging and paying fees on the Binance exchange. The traders can make any investment decisions by following Binance’s various supporting programs.
Methods to withdraw binance coins
Read the following steps to know about the methods for withdrawing Binance coins.
Step 1: Get a stable network connection. Then quickly log in to your Binance account after visiting their official website. You need to create one if you do not have a Binance account. Simply input your personal details as required and you are all set to go.
Step 2: In this step, you will see “Spot Wallet” on the top right–hand corner of your page and click on it. After that, a dropdown menu will appear infront of you where you will find the “Withdraw” option. Click it to go to the withdrawal page.
Step 3: On this page, on the left side coin selection tab, you will have to choose one type of coin that you wish to withdraw. You will be shown the withdrawal details on the right hand side. For example, we are withdrawing BNB (Binance Coin). Here, you might be asked to input the abbreviation details or token/ coin full name.
Step 4: Now fill up the BNB withdrawal address. You will get a BNB (Memo), copy it, and paste on the (Memo) field. This is optional if the receiving address is personal. You will get a pop-up notice. No need to worry; you can leave it blank since you have a personal receiving address. Tap “Confirm” for the next step.
Step 5: This step is very essential for your security details. You need to activate it. And if you already verified your security ,then click on “Get Code” and enter the codes required.
Tip: Your email verification code and phone verification code will be valid for 30 minutes only so please enter the correct codes carefully within the given time. Double-check all the details you have just entered for maximum surety and then only press on the “Submit” button.
Step 6: You have successfully withdrawn your BNB. To view your transaction please go back to “Wallet” – select “Spot Account”, then “Transaction History” > “Wallet” and check the relevant date.
How to Withdraw from Binance
We will briefly discuss this topic as we have already covered it earlier.
- Visit Binance Homepage.
- Create an account.
- Spot Wallet (Top right corner).
- Withdraw (Right banner).
- Select your coin type or enter coin/token full name or abbreviation and confirm it.
- If its Bitcoin (BTC), choose your currency as BTC on the transfer platform. The Recipient’s BTC address needs to be copied.
Tip: If you wish to transfer to other platforms, your other party’s BTC deposit address needs to filled up – be it your third party’s card number or anything else.
- Enter the withdrawal amount. After that, you will get the total amount when your system automatically calculates the handling fee.
- For a special type of coins/tokens, the Memo field needs to be filled up with the special identification. You can also find this Memo as Payment ID or Tag.
- Check and verify your security details
- Enter all the relevant verification codes (within 30 minutes)
- Click “Submit”
- Go to “Transaction History” to check your status of the withdrawal
In this last part of the blog, we will be discussing Bitspark at first.
Bitspark is another cryptocurrency platform situated in Hong Kong that deals mainly with transferring money and foreign exchange companies where buyers can purchase cryptocurrencies. It allows cryptocurrencies to get transferred instantly overseas. Its functions both in web and mobile applications. It also features multi balance wallet that can hold 12+ or more cryptocurrency and stablecoin balances in your Bitspark App. You can exchange these stablecoin balances with any of the cryptocurrencies whenever you want. Even if you are not ready to buy any crypto, you can hold on to your local currency stablecoin cash that can be later bought at the right price.
Now as a buyer, you need to withdraw these funds and if you don’t know the procedure, we are here to guide you to do that efficiently.
- Go to the official website – bitspark.io.
- Login to your account (assuming you already have one by now).
- Select “Deposit New Currency” (left bottom).
- Currency selection required.
- Choose your withdrawal wallet.
- Scan the QR Code or copy the code which is displayed on the screen.
- Login to your Binance account.
- Go to the “Withdraw” section.
- Pick your desirable coin.
- Enter the amount.
- Enter Target Address.
Tip: Some coins may require to include a Memo.
- Your fee will be displayed; click “Submit’’ on agreeing.
- Security verification required – two- factor authentication process.
- Check your mail for the same and confirm it.
- Confirm for withdrawal of request.
- Now you can check your withdrawal history by clicking the link shown behind TxID. Here you will be able to see your detailed transaction status on Binance Explorer.
- Re-login to your Bitspark account.
- Your received crypto is needed to be exchanged for your current currency stable coin.
- Once you receive your stablecoins, your fund is ready to be transferred to your bank account.
- You can also go to any Bitspark’s cashpoints where you can return your local currency for cash.
This is how you need to withdraw binance funds through bitspark.
Bitspark gives you numerous options so that you can choose between various local currencies, whereas other platforms only deal with USD and EUR which is a real pain for many global users. Also, Bitspark has the advantage to revert to your local currency in cash form or via Bank at minimal fees.
As for Binance, it does not charge any fee for cryptocurrency or for depositing funds. However, you need to pay a nominal transaction fee which is very low that also depends on the type of cryptocurrency.
With this complete guide, your transactions will never be difficult.