How to Withdraw Money from Binance – Two Proven Ways

Getting your funds out from Binance is simple. Whether you’re cashing out profits or transferring crypto, this post will walk you through the process step by step. Learn how to withdraw money from Binance securely and efficiently while making sure that it reaches your wallet or bank account without a lot of time or waiting. Keep reading to learn how to get started. 

Steps to Withdraw Money from Binance 

Here are the major steps involved in taking money out of a Binance account. 

1. Identity Verification and Crypto Conversion

You need to first confirm your identity to be able to take money out. Then convert your money to fiat.

Open Binance and log in.
Select “Profile” and then “Identification”
Upload the necessary paperwork (proof of residency, ID).
Await verification, which could take a few minutes to many days.

Select “Trade” > “Advanced” or “Classic”
Select a trading pair (such as USD/BTC).
Complete the trade.
Your Binance fiat wallet will be credited with fiat money.

2. Withdraw Funds to Your Bank Account

Now you can use the Withdraw button to do a bank transfer of your funds.

Click on “Wallet” > “Fiat and Spot”
Pick the option of fiat money.
Select “Bank Transfer” after selecting “Withdraw”.
Enter your bank account information.
Review fees and enter the amount. the amount you want to transfer to your bank. 
Verify the withdrawal (2FA could be needed).

3. Contact Your Bank 

Following Binance’s processing of the withdrawal, the funds should show up in your account. If, after a few days, you still haven’t received the money, you can check the status of your withdrawal in your Binance account or get assistance from Binance support.

Use the P2P Option to Withdraw Money from Binance 

Another popular way to withdraw money from Binance is using the P2P option under the dropdown of Trade on Binance website. Here are the steps to follow. 

  • Go to the P2P option under the Trade dropdown on Binance
  • Now, transfer some USDT into your funding account.
  • Choose the Transfer button.
  • Next, tap the Fiat and Spot in the From dropdown.
  • The To dropdown should have the Funding option.
  • Tap Max.
  • Tap Confirm.
  • When you see the Transfer Successful option, it means that you are ready to transfer money from Binance into your bank account.
  • Go back to the P2P option.
  • Select your local currency.
  • Tap the Sell button.
  • Now, select the method to receive money. You can opt for Bank Transfer here.
  • Now, choose an offer with a completion rate of above 90%.
  • Click Sell USDT.
  • You will see the amount of money you will receive in your bank account.
  • Add your bank account and click Sell USDT.
  • You will then receive the money into your bank account.
  • After that, you can click the Release USDT option. 

Some Things to Check If You Cannot Withdraw Money from Binance 

If you are unable to withdraw money from Binance or are facing some issues, check for the following things:

  • Binance charges a small fee before transferring money to your bank account. It depends on the method you choose (like SWIFT or SEPA) and the country.
  • Your withdrawal limit is based on your verification level. If you haven’t confirmed your account yet, you may have limits on the money you can withdraw.
  • Ensure your bank account details are correct to avoid problems with the transfer.
  • Ensure the receiving wallet is compatible with your selected network to prevent loss of funds.
  • Different networks have different fees. The right option will be the one that balances cost and speed.
  • In order to prevent delays, make sure the network is operating before starting a withdrawal.

Conclusion

You can easily withdraw money from Binance after following the instructions above. Be mindful of the points given in the end to make the transfer hassle-free. If you cannot understand something, contact Binance support.

Frequently Asked Questions

1. How to withdraw money from Binance to a debit card?

You can take money out of Binance and deposit it into your bank account before transferring it to your debit card.

2. How do I transfer USDT to my bank account?

Firstly, sell USDT to Fiat currency and then withdraw that Fiat currency to your bank account. The processing time varies by exchange and bank.

3. How do I send money to my card from Binance?

Select Fiat and Spot in your Binance account followed by Withdraw. Select Fiat and pick the currency you want to withdraw. Choose a Credit/Debit Card as the withdrawal method.

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