Withdrawing funds from the Binance exchange

To withdraw funds in the form of fiat money from the platform Binance you need to verify your account. For verification you will need to provide: a photo ID, a photo of the new user, identify your face online. It takes about 15 minutes to prepare and submit personal information for verification, and the verification itself takes up to two days. If the verification was unsuccessful, it can be repeated. To start transferring funds from your Binance account on binance.com to the card, you need to click on the profile icon on the exchange site and select the “Fiat & Spot” subsection from the drop-down menu.

To make a deposit to the card, you need to go to the “Fiat and Spot” section of the wallet. In the “Main Account” section that opens, click on the “Withdrawal” option and go to “Main Account”. Here you can see the account balance, fiat and cryptocurrency. You can activate cryptocurrency withdrawal using the button to the right of the balance line. In the service “Fiat withdrawal” is set by default the currency that the user credited to his account, it can be changed. If the transaction is made in rubles, then in addition to the possibility of transferring money to Visa and MasterCard, it is offered Payment Systems Advcash and Payeer. When crediting the card, a fee is charged, to Advcash and Payeer there are no commissions. It is reasonable to transfer funds through payment systems when the transfer to the card is not available or does not come.

If the withdrawal is made in dollars, it is possible to transfer in SWIFT, in euros the transfer is offered to bank card. For each selected currency a number of withdrawal methods will be offered. The method of money transfer also depends on the country, which is specified when registering an account. Therefore, when registering an account, you need to specify accurate information.

When transferring money to a bank card, there are often failures, transactions may be unavailable, which the exchange will notify you about. Most often the transaction can be repeated after some time. As a rule, the withdrawal is carried out instantly. Also, you need to consider the commission, not only those that are specified by the exchange, but also the commission for using the payment system. In addition, Binance has limits on transactions per day and on a single amount.

The “Fiat Withdrawal” page has a number of useful options. On the right side there are “Frequently Asked Questions”, in it, before you make a transaction, you should see “List of supported countries of banks for fiat withdrawals”, because this list can change due to the events in the world. Also on the top right there is a button to go to the cryptocurrency withdrawal service.

Withdrawal of crypto-assets

Transferring cryptocurrencies or tokens is also done from the “Fiat and Spot” section, directly from a cryptocurrency account or by clicking the “Withdraw” button at the top of the page.

Conclusion cryptocurrencies is possible after connecting two-factor authentication (2FA) or another way to improve account security, you can start connecting directly from the crypto withdrawal service. When the security meets Binance’s requirements, the form for transferring cryptoassets is activated. Cryptocurrency for withdrawal can be selected under “Fiat and Spot” or already in the service itself, through the “Choose a currency” drop-down menu. To enter the recipient’s address, you need to click on “New address”, subsequently the address can be taken from the “Address book”.

Don’t forget the importance of choosing the right network in the “Network” line. The exchange can support all types of networks, including those that are not supported by the wallet to which coins are transferred. If the wrong network is selected, the cryptocurrencies will simply disappear. You should also pay attention to the commission that will be charged for the transaction, the minimum transaction amount and the limit. By the way, commissions vary depending on the selected network. If a user is trying to make a transaction for the first time, he should first pay attention to the information in the FAQ section. The instructional video and step-by-step instructions are almost mandatory to study, they will help avoid typical mistakes.

Binance P2P

It is possible to withdraw money from Binance exchange in the direct exchange service between exchange clients who have verified accounts. Before the user starts trading in P2P mode, the exchange will offer to undergo training, and one should not neglect it, because direct exchange is a riskier way to trade and withdraw funds due to increased likelihood of fraud.

On the P2P page, at the top, the user selects the cryptocurrency to exchange, specifies the currency to be received and specifies the method of receipt in the “Payment” column. From the list of offers in the “Makers” column, a suitable one is selected, the number of available assets and the limit are evaluated. If all conditions are satisfactory, the buyer transfers the money to the seller’s details. When the seller confirms the receipt of money, the cryptocurrencies, which were previously deposited by the exchange, are transferred to the buyer’s account.