Withdrawing crypto assets from your Binance account to an external wallet or exchange is a fundamental skill for any digital asset holder. This guide covers the entire process, including fees, limits, and best practices to ensure your funds move safely.
Prerequisites for Withdrawal
Before initiating a withdrawal, you must gather specific deposit information from your destination wallet. This ensures the assets reach the correct address on the intended blockchain network.
The essential details you'll need are:
- Currency: The specific cryptocurrency you wish to transfer (e.g., USDT, BTC, ETH).
- Deposit Address: The unique string of characters representing the destination wallet address.
- Network: The blockchain protocol used for the transfer (e.g., ERC20, TRC20, BEP20).
- MEMO/Tag: An additional identifier required by some platforms, especially exchanges, for certain currencies.
Always double-check that the network you select on Binance matches the network supported by your destination wallet. Mismatched networks are a leading cause of permanent fund loss.
Step-by-Step Withdrawal Process on Binance
Follow these steps to securely withdraw your crypto from Binance using the mobile app:
- Navigate to the "Wallet" section.
- Select "Spot Wallet".
- Tap the "Withdraw" button.
- Choose the cryptocurrency you want to withdraw.
- Select the option to send "Via Crypto Network".
You will then be taken to the withdrawal page to enter the details obtained from your destination wallet.
- Paste the Address: Carefully paste the deposit address from your external wallet.
- Select the Network: Choose the network that matches your destination wallet's requirement.
- Enter the Amount: Input the quantity of crypto you wish to withdraw.
- Tap "Withdraw": Review all details one final time.
- Confirm the Order: A confirmation screen will summarize the transaction.
- Complete Security Verification: This typically involves providing a 2FA code from your authenticator app, an email confirmation code, and/or an SMS code, depending on your account settings.
The transaction is broadcast to the blockchain once you submit the verification. The time it takes to confirm depends on network congestion.
Understanding MEMO/Tag Fields
A MEMO, Tag, or Destination Tag is a critical piece of information used by some receiving platforms (like exchanges) to identify the recipient of funds amongst their many users. Since many users share a single deposit address on an exchange, the MEMO ensures the funds are credited to your specific account.
Rule of Thumb: If the receiving platform provides a MEMO/Tag, you must include it in the withdrawal form. Omitting or entering an incorrect MEMO can result in your funds being lost or requiring a lengthy and complex recovery process with the receiving platform's support team.
How to Check Your Withdrawal Status
You can track the progress of your withdrawal within the Binance app.
- Go to "Wallet" > "Spot".
- Tap the clock/transaction history icon in the top right corner.
- Switch to the "Withdrawal" tab to view all past transactions.
The status will update as it progresses. A "Completed" status means the funds have been successfully sent.
A blockchain transfer involves three key stages:
- Binance Processing: Binance prepares and signs the transaction.
- Blockchain Confirmation: The transaction is picked up by network validators and added to a block. Multiple confirmations may be required.
- Receiving Platform Crediting: The destination wallet or exchange detects the transaction on the blockchain and credits your account.
If a Transaction ID (TxID) is generated, Binance has successfully processed the transaction. Delays typically occur during the blockchain confirmation or the receiving platform's crediting process.
Withdrawal Fees and Limits
Binance charges a network fee for withdrawals, which is paid to the validators of the blockchain network. This fee is dynamic and adjusts based on network conditions.
- Fee Structure: Fees vary significantly by cryptocurrency and network. For example, withdrawing USDT via the TRON (TRC20) network is often cheaper than via the Ethereum (ERC20) network.
- Checking Fees: The exact fee is always displayed on the withdrawal confirmation screen before you finalize the transaction. You can also review standard withdrawal fees on Binance's official fee schedule page.
- Minimum Withdrawal: Each asset has a minimum withdrawal amount, which is also listed on the withdrawal page.
- Withdrawal Limits: Your daily withdrawal limit depends on your account verification level. Completing Intermediate Verification significantly increases your allowable withdrawal volume.
👉 Check real-time network fees and limits
Frequently Asked Questions
How long does a Binance withdrawal take?
Withdrawal time depends primarily on the blockchain network's congestion and the required number of confirmations. Typically, transactions take from a few minutes to an hour. If a TxID is generated but the funds don't arrive after several hours, contact the support team of the receiving platform.
Why is my withdrawal function suspended?
Binance may temporarily suspend withdrawals for security reasons, often after a password change or other sensitive account activity. This suspension is usually lifted automatically after 24-48 hours as a protective measure against unauthorized transactions.
What if I withdraw to the wrong address?
Cryptocurrency transactions are irreversible. If you send funds to an incorrect address, it is extremely difficult, and often impossible, to recover them. This is why meticulously verifying the address, network, and MEMO before every withdrawal is crucial.
What if I forget to include the MEMO/Tag?
If you forget or enter a wrong MEMO, immediately contact the support team of the receiving exchange or platform. Provide them with the TxID from Binance. Some services offer a recovery process for such errors, but it is not guaranteed and may involve fees. Act quickly for the best chance of recovery.
Is it safe to transfer between exchanges?
Yes, it is generally safe if you follow the correct procedures. Always send a small test transaction first to verify that the entire process—address, network, and MEMO—is configured correctly. Once the test transfer is successful, you can proceed with larger amounts confidently.
Can I cancel a withdrawal?
Once a withdrawal request is submitted and processing begins, it cannot be canceled. If the status is still "Processing" and no TxID has been generated, there is a small chance it could be stopped, but you should contact Binance support immediately.