How To Withdraw My Bitcoin
Binance has become one of the major reputable exchanges in the cryptocurrency market.
- How To Withdraw My Bitcoin From Paxful
- How To Cash In Bitcoin
- How To Get Cash For Bitcoin
- How To Withdraw My Bitcoin From Binance
- Bitcoin To Bank Transfer
To make use of this platform, all you have to do is register an account on the platform and become of the crypto-community that buys, sells or transfer or convert fiat currencies and Bitcoin for many other Altcoins.
For your security reasons, choosing a reliable platform that has built a strong reputation on the market is necessary, when it comes to cryptocurrency investment.
CashApp was the first mainstream payment app to support Bitcoin. You can buy, hold and sell bitcoin in the app. CashApp requires that you convert bitcoin to dollars before withdrawing to your bank account which may have a small fee. CashApp offers Instant Transfers to bank accounts with a 1.5% fee. So if you withdraw $1000, the fee is $15. If you want to withdraw funds in Bitcoin, you will need to do a withdrawal and select Bitcoin. In order to withdraw cryptocurrencies from your Blockchain Exchange account, please navigate to your Total Account Value window and select Withdraw. Select one of our supported cryptocurrencies from the drop-down menu to bring up your withdrawal window, as an example we have selected Bitcoin.
Binance is one such crypto exchange, serving millions of customers worldwide since 2017. Originally from China, the company operates from crypto-friendly Malta.
Binance is well-liked for listing vast number of cryptocurrencies, ranging from the most popular ones to some lesser-known obscure coins.
It also charges incredibly low fees, has a native currency BNB that can be used for getting discounted fees, and offers its own digital wallet.
As I always advise individual investors, it’s not a great idea to leave your money on any crypto exchange platform, no matter how trustworthy they seem.
So it’s either you use yet a dedicated cryptocurrency wallet device or software to keep your cryptocurrency safe, or you simply withdraw it back into fiat currency.
And i guess you have need to get your money off the Binance, so keep reading this guide to find out how to do this the right way.
Before we embark on the ways to withdraw cash from Binance, let also touch and explain somethings like; Security methods, withdrawal limit, fees and processing time.
Binance security methods
I recommend protecting your Binance account with Google Authentication app to create an added layer of security to your Bitcoin transactions.
This is a third-party protocol used for two-step verification services. Once you activate this service, it syncs with the Binance platform, so that every time you request a transaction it will generate a unique key.
Once you decide to deactivate this security feature, you will experience Binance withdrawal suspended error. So learn more on why your withdrawals can get rejected.
Binance withdrawal limit
You don’t have to submit any documents to trade cryptocurrencies on the Binance exchange. The non-verified account holders (i.e. Level 1) can withdraw up to 2 BTC per 24 hours, whereas verified account holders can withdraw up to 100 BTC per day.
Binance withdrawal fees
Binance has zero deposit fees, but things are different for withdrawal fees. Depending on the cryptocurrency in question, the fees can range from $1 to $15.
Binance withdrawal time
Normally, Binance withdrawal processing time is quick, and usually take no longer than 30 minutes to reach your crypto wallet.
How to withdraw from Binance
Initially, Binance was a crypto-to-crypto only exchange, which means that withdrawing funds essentially has to do with the process of transferring a selected amount of cryptocurrencies to another digital wallet.
For example, you can send them to a fiat to crypto exchange such as Coinbase, Quidax or Luno platforms before you can withdraw as cash funds.
But with the recent updates the Binance team have made on the platform already, you can actually withdraw your crypto coin investment fund without needing any other platform to convert it to fiat currency.
In this guide, am going to discuss how to withdraw from Binance to both bank account and PayPal without having glitches at all.
Binance cash withdrawal to bank account
- Visit Binance and Log in to your registered account
- After the login, click on [Wallet] – [Spot Wallet] on the upper right-hand side of the page. Then, click on [Withdraw] button on the right banner
- Input the abbreviation or full name of a coin/token to withdraw, or select from the list
- Take Bitcoin (BTC) as an example, after confirming the address, copy it into the [Recipient’s BTC Address] field, and enter the withdrawal amount. The system will automatically calculate the handling fee and give the actual arrival amount: actual arrival amount = withdrawal amount-withdrawal fee
For some special coins or tokens, there’s also a special identifier to be filled in the [Memo] section (They’re known as Tag or Payment ID for some tokens)
Using BNB as an example, first fill in the BNB withdrawal address. After that, copy the BNB [MEMO] in the corresponding platform and paste it into [MEMO] field. If the receiving address belongs to a personal wallet which has no memo, you may leave this field blank
- For account safety reasons, you will be guided to pass the Phone verification code and email verification code will be valid only for 30 mins. Please check and enter the relevant codes in time
- Please double-check your withdrawal crypto, amount and address before clicking [Submit] on the Security verification page, or the withdrawal will not be executed
- After the withdrawal is executed successfully, you may return to [Wallet]-[Spot Account] and click [Transaction History]. Then select [Withdraw] and the corresponding [Date] to view the relevant withdrawal. You may also click the corresponding TXID to view the progress of the withdrawal on the blockchain.
At this point, you have successfully withdrawn your cryptocurrency investment funds out of the Binance platform and straight into your bank account.
In conclusion
As you can see, withdrawing cash from Binance platform is not hard at all, but you will need to know exactly what you are doing to avoid loosing your investment in the process.
How To Withdraw My Bitcoin From Paxful
Where as incase you are leaving your funds in digital asset form, I will strongly recommend using trusted wallets, which personally recommend hardware wallets as the most secured.
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When playing at your favorite online casino, there will potentially be a point when you’re wanting to withdraw your funds. The process for doing this when it comes to Bitcoin is as simple as a standard withdrawal. In fact, in some cases, it’s simpler and swifter. If you’ve checked out the guide to depositing, you’ll already know that this process generally takes no more than 10 minutes to complete. The same is true of making a withdrawal via Bitcoin. It shouldn’t take any longer than 10 minutes for the withdrawal to fully complete.
So, getting this process started requires you to be logged into your casino or sportsbook account first of all. Once you’ve done this, you need to make your way over to the site’s cashier page. You’ll first need to insert the amount that you would like to withdraw from your account. This can be any amount that you like from your balance.
You’ll then be prompted to enter the address of the wallet that you would like to send the funds to. If you know about depositing with Bitcoin, then you’ll know how this looks. It’s usually a long piece of text that you can copy and paste into the casino site. If your wallet is stored on a mobile device, then you can alternatively scan a QR code for this information to automatically be entered into the casino’s cashier section.
After this, you need to hit the “Send” button, and this begins the withdrawal transaction. As mentioned, it shouldn’t take any longer than 10 minutes for the Bitcoin to appear in your chosen wallet. The great thing about utilizing the Bitcoin option is that if you have more than one wallet, you can simply enter the relevant address of the wallet you wish to send them to. This isn’t the case with standard withdrawal options, where, for example, if you deposit with a Visa card, you have to also withdraw funds in the same way.
From then onwards, with the Bitcoin in your chosen wallet, you can do as you like with it. If you have opted not to withdraw all the funds, then you can carry on using whatever is left to continue placing bets. But what about the funds that are now in your wallet? What can you do with them?
Turning Your Withdrawn Bitcoin into Cash
So, now that your Bitcoin is out of the casino or sportsbook, what do you do with it? Well, you have a few different options. For example, if you would like to continue using it for gambling, you can opt to deposit it at an alternative online platform. Otherwise, you may wish to convert the Bitcoin funds that you have back into fiat currency. There is also a process for doing this.
Once you have chosen the exchange that you would like to use, you need to log into your account. Following on from this, you need to navigate to the “Sell” section of your exchange wallet. From there, you can insert the details of the wallet from which you wish to sell your Bitcoin. This is, again, a process that requires you to insert the address of the wallet. After this, you’ll be required to enter the bank account that you would like the cash to be sent to. Of course, if this is the first time you’re using a certain exchange for withdrawing, you’ll need to insert the bank account details. Then, you need to insert the amount of Bitcoin that you would like to sell on the exchange.
This part is something that you can do by entering the amount of fiat currency you would like to withdraw, rather than having to enter a specific amount of Bitcoin. The exchange can then calculate the amount of BTC it costs to receive that amount in cash. Should you not have that much Bitcoin in your wallet, the exchange will notify you.
How To Cash In Bitcoin
After this, you need to confirm the amount that you would like to sell and the amount of fiat currency that you will receive for this. Furthermore, make sure that you note and understand the transaction fee for doing this, and click on the “Sell” button.
Withdrawals will depend upon the type of payment method that you use. If you’re having funds sent to a bank account, then the process may be slightly longer than if you’re withdrawing to a card. Generally speaking, though, it shouldn’t take any longer than 12 hours for an online exchange to process the withdrawal and have it sent to your chosen account. From that moment onwards, the time that it takes for the funds to reach the account you’ve opted for depends solely upon the payment method.
It is important to know how Bitcoin transactions are done in both the case of depositing and withdrawing. However, it’s not something that you definitively have to do. Once you have deposited and started playing at your favorite online site, you may want to just leave the Bitcoin there to play with whenever you like. Furthermore, winnings aren’t specifically something that you have to withdraw from the casino or sportsbook and into your wallet. The simple two options are keeping the Bitcoin in your casino wallet and continuing to play or withdrawing it back to your external wallet to do as you like with it.
How To Get Cash For Bitcoin
Some Bitcoin users prefer to withdraw funds when the exchange price is better. In this instance, fewer Bitcoin with a higher fiat currency return makes a greater sell for people. Therefore, unless you’re in desperate need of some cash, it’s sometimes advisable to hold on to the Bitcoin in your external wallet until the price for exchanging it is better. Ultimately, it’s your own choice. You can decide on how you would like to proceed with your own Bitcoin.
How To Withdraw My Bitcoin From Binance
Even if you’re not ready to go for a withdrawal from Bitcoin to cash, you can store the cryptocurrency in your external wallet without being charged for it. This way, the funds are safe (especially if you’ve chosen a hardware Bitcoin wallet), and you won’t have as much of a compulsion to use them on placing bets at online sites. Then, convert it into cash funds whenever the price is right or whenever you’re ready.
Bitcoin To Bank Transfer
So, now that you’re fully informed on how both depositing and withdrawing in the Bitcoin digital currency works, you can proceed to utilize such at your chosen online casino or sportsbook. Bitcoin can provide you with a great alternative to standard currencies and payment methods. So, take advantage of the guides and the tools that are at your disposal – and above all, have a safe, fun, and controlled time placing online bets.