When you’re in the middle of it, crypto transfer from one exchange to another can seem both mysterious and frustrating. Without prior experience or guidance, one is at risk of losing his/ her assets. In this article, you will learn how to Transfer Crypto From Binance to Coinbase wallets without breaking a sweat.
Transfer of Crypto assets from one Trading platform to another might cost a small fee
To Transfer Crypto From Binance to Coinbase, you will be required to open accounts in both trading platform
Benefits attached to using a specific Exchange differs, therefore its crucial for holders/traders to be able to Transfer crypto assests from one Exchange to another.
It’s quite easier to deal with the transfer—and avoid uncertainty and the possible outcome of losing your funds —when you understand how the transfer process works.
While every trading platform does things slightly differently, most exchanges adopt some tools on the standard. This step-by-step guide will enlighten you on everything you must know about the Transfer Crypto From Binance to Coinbase, including:
- How to create a functioning coinbase
- How to find your wallet’s addresses
- How to send your assets from Binance
- How to verify your transaction.
Why Transfer Crypto From Binance to Coinbase?
Binance and Coinbase being the biggest trading platforms by adoption provide investors not just the opportunity to buy, sell and trade cryptocurrencies, but unique investment options such as Staking, liquidity providers, farming etc.
In regards to user country, Coinbase may provide more profitable Investment options especially, if they support coins which does Binance doesn’t.
In General, Coinbase has unique features that users may find attractive over Binance. which gives them an edge in the competitive markets. This includes massive APY return on investment, decent sign-up bonus, enormous referral bonus etc
However, some investors may simply want to experience how other exchanges work.
How to Transfer Crypto From Binance to Coinbase
Follow these steps to Transfer Crypto From Binance to Coinbase
Open a coinbase account
To Transfer Crypto From Binance to Coinbase, you ar required to have a Coinbase account and an active Binance Account, These accounts have incorporated wallets that can be used to send and receive assets.
How to open Coinbase and Binance accounts?
- Go to the Coinbase or Binance account official website
- Download Coinbase or Binance App on Appstore or playstore.
Sign up for Coinbase using our button above, and receive $5 worth of free Bitcoin!
How to open a new Coinbase account via App
- Download the Coinbase app
- input your email and password to create new account
- Submit your address and valid ID card for verification purposes
- Set up 2FA by adding your mobile number
- Link to your bank account using a secure service called Plaid
However, users can choose to skip the verification process. Unverified Accounts activities are limited such as withdrawals and deposits
Find your Coinbase wallet’s addresses
When you are done creating or signing in to your Coinbase account using their official site Coinbase (coinbase.com)
To find the coinbase wallet address:
- Tap on [Send/Recieve] on the top right corner of the page
- Navigate to the “Recieve” tab to view your coinbase wallet address.
- Tap on [Copy] to copy your displayed Coinbase wallet address
NB: Bitcoin is the default asset, to get the wallet address of other crypto assets, you need to search for the asset using the search bar.
How to find the Coinbase wallet address for other crypto assets?
For illustration, to send Solana to your Coinbase account from Binance, you need your Coinbase Solana wallet address and not the Bitcoin or any other assets address.
To find your Sol wallet address, click on Bitcoin, the default asset and type in Sol into the search bar. On the search page, click on Sol and then tap on [Copy] to copy your Coinbase Sol wallet address.
To find other crypto asset’s wallet address, follow the above instruction.
Send your assets from Binance
Now that you have the Coinbase wallet’s address for the crypto assets you want to send, you are equipped to execute the transaction. Keep in mind, it is crucial to note that the crypto asset you choose to transfer matches the wallet that you copied from your Coinbase Account.
Note:Transaction fee will deducted and there is a minimum amount of a given cryptocurrency that can be transfer.
Here’s how to send crypto from Binance to Coinbase:
- Via the Binance app, click on the wallet icon or tap on “Wallet” along the top menu and select “Fiat and Spot” for PC users
- Tap on the “Withdraw” button
- Select the cryptocurrency you wish to transfer and input the amount.
- Carefully paste the copied coinbase wallet’s address.
- The “Preview Withdrawal’ page containing the transaction costs will be displayed
- Click on the “Withdraw” button after confirmation
Verify your transaction.
To confirm your transaction has gone through, sign in to your coinbase account. if the above guide is done correctly, the crypto assets sent should reflect in your wallet within a few minutes.
Conclusion: Transfer Crypto From Binance to Coinbase
The process of sending crypto from one platform to another is actually easy; however, it is essential that you avoid the following mistakes
- Inaccurate Coinbase wallet address
- Sending crypto to non-compactible/unmatched address e.g (Eth to BTC wallet address)
- Pay less attention to Transaction fees/costs
- Asset unsupported by coinbase
Frequently Asked Question
You will be able to receive crypto Assets as soon as you open your Coinbase Account, which could take a couple of minutes to an hour depending on the verification process.
How Long Does It For My Crypto To Reflect In Coinbase Wallet?
Moving crypto from Binance to other trading platforms such as Coinbase usually take a couple of seconds to some minutes to reflect in your coinbase wallet balance.
However, In some situations, it can be extended to 15 mins or more for the assets you sent from your Binance account to reflect on your coinbase wallet . Such delay is often caused by the crypto asset network’s traffic i.e too many people are making use of the network as well for transactions.