As cryptocurrency grows, more users are gaining the confidence to transfer their cryptocurrency between exchanges, including between Coinbase and Binance.
Whether because of better deals, Coinbase error codes, or you just want a change, users can transfer their cryptocurrency from Coinbase to Binance, and also from Binance to Coinbase. The cryptocurrency market encourages investors to conduct transactions on these exchanges before transferring their traded assets in a secured wallet.
As transferring cryptocurrency can be tricky, we've broken down how to transfer your crypto assets from Coinbase to Binance.
Transferring Crypto from Coinbase To Binance
First, you must have an active user account on both exchanges to send cryptocurrency from one wallet to another.
When transferring from Coinbase to Binance, find your wallet address on Binance, and keep it handy. This is vital to get correct, as entering an incorrect address may result in losing your assets.
Once you have saved the address, click on the send part of the Coinbase wallet. This will direct you towards a pop-up tab.
The tab will then ask you to enter the amount of cryptocurrency you want to transfer from Coinbase into your Binance wallet.
Then, enter or paste your Binance wallet you saved earlier into the required section. Click on the pay with field and select the type of cryptocurrency you want to transfer into the Binance account.
Double-check the details before hitting the send button, which will complete the transaction. You can also view the history of your transaction by clicking on the transaction overview tab.
Coinbase To Binance Transfer Fee
As mentioned on the Coinbase website. The transfer fee from coinbase to other third-party platforms depends on several factors including the current status of the network and the congestion associated with it.
Furthermore, Coinbase calculates fees "at the time you place your order and may be determined by a combination of factors, including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. "
The exchange also mentions that "The final fee that Coinbase pays may differ from the estimated fee (for example, due to your transaction being batched with other transactions or due to changes in the network.
Things To Keep In Mind Before Conducting A Crypto Transfer.
A cryptocurrency transfer is a sensitive task and requires the complete attention of the user. To perform such tasks with ease, Binance has already issued a complete guide on how to conduct crypto transfers without encountering any mishaps during the process. Before commencing any such transactions, a user must ensure:
- The cryptocurrency that a user wants to transfer is listed on both exchanges.
- Double-checking the wallet addresses before hitting send can help you validate your transaction.
- Transfer a small amount of crypto first to check whether the address is active or not.
- Network compatibility is equally important hence a user must select a solid network to commence the transaction with.
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