Binance has become one of the largest crypto exchange platforms when we speak of the volume. Being one of the users, you will have access to varied kinds of products and services linked with the crypto economy that has been developing. This includes trading cryptocurrency for future and spot markets, staking, and borrowing, donating, lending, and also holding crypto assets.
However, as Binance provides most of the services and products to provide with the means of achieving the goals for turning the profit now or later, one has to keep withdrawing the funds.
One can be having crypto or fiat assets in the account. One can also choose to withdraw them for another exchange, want cash from the gains, or private wallet. In this blog, we shall see the ways by which you can withdraw from Binance.
Usually, the process varies as per the region and country you reside in. You need to enter the withdrawal amount and then confirm the action. For the most part, you can get the fund within the time of 30 minutes. There will be specific fees charged. Before the completion of each withdrawal, there is also a need for completing the two-step authentication procedure.
Keep reading for the in-depth details and the step-by-step guide for making sure you understand the process well!
If you don’t have an account then Just get started on Binance here: https://accounts.binance.com/en-IN/register?ref=15888997 or you can also enter 15888997 in the referral code section.
How to Withdraw Money From Binance to Bank Account
Binance is presently supporting over 60 fiat currencies. This includes EUR, USD, INR, JPY, AUD, and GBP. For withdrawal of any kind of traditional currency from the Binance account, here are the steps that you need to follow:
For doing this, one has to log in to the account of Binance. Then hover on the ‘Wallet’ option present on the right corner of the screen on top You are going to see the drop-down list in front of you. Click over the option that says ‘Fiat and Spot’.
You also have the alternate choice here. Just go over the ‘Wallet’ option as you did and then click over the option that says ‘Overview’ instead of ‘Fiat and Spot’.
This is going to open the page for an overview, with all of the balances across the varied products of Binance, including margin, futures, earn, mining pool, P2P, and ‘Fiat and Spot’ account. You need to tap on the option of ‘Fiat and Spot’.
There will be three ways by which you can get to the page of fiat withdrawal. The initial two options are available on the page called ‘Fiat and Spot’. Over this page below the navigation bar, you will be able to see the withdraw button.
Again you also have the choice of scrolling down over that same page and clicking over withdraw buttons are aligned and have specific currencies that you need to withdraw. This will be a much smaller route when we compare it with the other two and needs some added steps for selecting the currency that you feel like withdrawing.
Finally, you also have the choice of clicking on withdraw buttons that you see on your ‘Overview’ page.
You will see that most of the withdrawal buttons have been linked with a crypto page for withdrawing by default. So in case you get to the withdrawal page of crypto, just tap over ‘Withdraw Fiat’ on top of your screen.
Step 3: Choose the Payment Method and Currency
As we mentioned earlier, over 60 currencies for fiat are supported by Binance. Choose the one that you want from their drop-down list. Below it, you are going to see several payment options.
List of Payment Methods Supported:
- Credit/Debit cards.
- Cash transfer.
- Bank transfers like SEPA.
- Faster payments.
Just fill the amount you need to withdraw over the right side and tap on ‘Continue’ present on the bottom right of your screen. As per the payment methods you select, you are going to be prompted for filling and receiving the account details in the specific step. Just add the details and click continue.
Step 4: Transaction Confirm
Once, you did provide all of the payment details, you are going to be prompted for confirming the action for the information you entered. You will see a pop-up screen that will provide information on the amount, payment method, and estimated time for completion and transaction fees.
When everything looks fine, you need to tap on confirm and then proceed towards the security verification by using their two-factor authentication.
This is all! You have withdrawn the fiat balance successfully from your Binance account!
As you can see from the guide above, withdrawal of crypto and Fiat from Binance is a straightforward procedure. It doesn’t take more than five minutes. Just keep in mind that you enter all the correct details while withdrawing crypto. This is because there can be a risk of losing funds when you’re not cautious.