Nowadays, with the growing popularity of cryptocurrency trading, it is quite common for users to maintain accounts in more than one exchange. Often, they might want to transfer some of the assets from one exchange to another due to unique features offered by the other exchange. In such cases, users need to follow a step-by-step process mentioned below to transfer assets between two leading exchanges, Binance and Coinbase.
How To Transfer Coins From Binance To Coinbase
Using Binance and Coinbase Wallet Applications
1. First, log in to your Coinbase wallet and Binance wallet.
2. In your Coinbase wallet app, tap on the down arrow up arrow (↓↑) icon in the middle. On the new screen that appears, click on Receive.
3. On the Receive Crypto and NFTs page, choose the asset you want to receive by using the search assets bar.
4. Keep in mind that for some coins, there are many different Networks available, and for the user to send and receive the crypto, the networks on both exchanges should be the same. So, make sure the chosen asset and the network are the same on both the Coinbase and Binance.
5. Now, on the coinbase wallet, copy the address of the chosen asset by clicking on Copy.
6. On the Binance Wallet app, click on Wallet on the bottom right side of the screen.
7. In the app, on the Overview page, click on the Send option. On the Select Withdraw Method window that appears, select On-Chain Withdraw.
8. On the new page, enter the name of the coin you want to withdraw in the search bar or select the asset from the options.
8. Select Send via Crypto Network in the Binance app. In the Address section, enter the address that you copied, and in the Network section, choose the network.
9. On the Withdraw Amount section of the app, enter the amount you want to transfer and click on Withdraw.
10. On the Confirm Order page, click on Confirm after verifying the details like address and withdrawal amount. You will be asked to complete the Security verification requirements to proceed with the transfer. Once it is done, the transfer will be processed, and this usually takes a few minutes to an hour.
11. Now, check your Coinbase wallet to confirm the transfer of the tokens.
Using Binance and Coinbase Website
1. On the Coinbase website, select Send & Receive at the top right corner of the screen.
2. Click on Receive. On the Receive window, a default asset would be chosen, and if you want to change to a different asset, click on that asset. A new window called Select asset to receive will appear on the screen. Choose the asset you want to receive. [Note: There are different networks available for some assets, so ensure that you choose the same network for both of the exchanges.]
3. Once the asset is selected, click on the copy icon to copy the address of the asset.
4. On the Binance website, hover over the wallet icon, which is next to the profile icon, and click on Overview.
5. Select Withdraw on the new window that appears. On the Withdraw Crypto page, select the coin that you wish to withdraw in the Select coin section.
6. In the Withdraw to section, enter the address that you copied in the Coinbase wallet and select the Network. Keep in mind that the network should be the same as the one you have chosen in the Coinbase wallet.
7. Type the amount in the Withdraw amount section and select Withdraw. On the Withdrawal page that appears, click on Continue, and you’ll be required to finish the Security Verification process. After the security verification is completed, the transfer will be awaiting approval. The coins will be sent to the Coinbase address after the approval is complete.
Coinbase Integrates Apple Pay to Ease Crypto Onramp PaymentsHow to Transfer Coins From Coinbase to Binance
Using Coinbase and Binance Wallet
1. On the Coinbase app, click on the down arrow up arrow (↓↑) icon in the middle of the screen.
2. Usually, by default, an asset would already be chosen, and if you want to choose a different asset, then tap on the asset, and you will be taken to the Choose asset page. Choose the asset you want to send either by directly selecting the asset or through the Search bar.
3. On the app, after selecting the coin, enter the amount you wish to transfer in the Enter amount page. Then, choose the network by which you want to send the token and click on Continue.
4. Now, launch the Binance app, and on the home screen, click on Add Funds on the top right side of the screen. Select Deposit Crypto under the I have crypto assets section.
5. On the new screen that appears, choose the crypto asset that you want to receive. Some assets offer multiple networks through which the assets can be transferred; choose the network you want. A pop-up called Important will appear on the screen, and select Ok. On the Deposit screen, copy the Deposit Address.
6. On the Select recipient screen on your app, in the To section, paste the copied Binance address and click on Preview send or Send. On the You are sending screen, verify whether the details are correct, as once the transfer is initiated, it cannot be undone. Click on Send now, and the amount will be transferred to your Binance account.
Using Coinbase and Binance Website
1. On the Coinbase website, login to your account and click on Send & Receive.
2. In the Send window, click on the Send section. On the Select asset to send window that appears, choose the asset you want to send and enter the amount to transfer.
3. On the Binance website, click on Deposit on the top right side of the home screen. In the I have crypto assets section, click on Deposit Crypto.
4. Under the Select Coin section, choose the asset you want to receive, and in the Select Network section, select the network through which the asset is transferred. In the Deposit Address section, copy the address that appears.
5. On the Coinbase website, click on the To section. On the new window that appears, paste the address copied from Binance in the search bar and click on the address that appears below. Now that the To section is done, you can choose the network by which you want to transfer the coins and click on Preview Send. On the Send window, select Send now, and the transfer will be initiated. This process takes somewhere between a few minutes to a few hours.
Are There Fees Involved When Transferring Tokens?
Yes, when transferring tokens from one exchange to another, users need to pay a network fee. The network fees vary based on the coin and the network congestion. If the network is free, the transfer fees will be low, and the transfer will be done quickly. On the other hand, when the network is full and congested, the transfer fees will be high, and the transfer will take a long time. Sometimes, by changing the network, not only can the network fees be reduced, but the transfer speed can also be decreased.
Pudgy Penguins Launches PENGU Token with Binance ListingConclusion
Transferring coins between Binance and Coinbase is a straightforward process that requires following the correct steps and ensuring that the networks and addresses match. Both platforms have user-friendly interfaces and provide detailed instructions to make the process easy. While the users need to pay network fees, choosing the right network can help minimize costs and transfer times. By double-checking the details, like addresses and networks, and completing the required security verifications, users can confidently move their assets between these exchanges with ease.
