If you decide that you want to transfer your funds out of Binance and into a bank account, here's how to withdraw money from Binance.
Binance is one of the leading cryptocurrency exchanges in the world that offers support to roughly 500 cryptocurrencies. Founded by Chengpeng Zhao in 2017, the exchange has quickly become one of the most centralized institutions of cryptocurrency exchange that offers seamless support to its investors and boasts an efficient customer assistance panel.
Regardless, profits aren't profits until you actually withdraw. So here's how to do that on Binance.
How To Withdraw Money From Binance (Via Swift)
The first step in withdrawing money from Binance is to ensure you have the funds to do so. This may include trading your cryptocurrency for your desired fiat currency.
After this follow these steps to withdraw money from Binance:
- Log into your Binance wallet and click on Fiat and Spot category.
- Click on the Withdraw option.
- Under the Fiat tab, select USD [Bank transfer (Swift)] and enter the amount that you wish to withdraw.
- Click Continue to initiate a withdrawal request.
- Enter the account details of the desired bank account.
- Confirm the details before sending the transaction for processing.
- Wait for 4 business days for the transaction to process.
It's worth noting, too, that if you are simply wanting to transfer your holdings from Binance to another exchange, there is a simpler way. For example, you can transfer from Binance to Coinbase directly via the exchange.
Binance boasts lower trading fees as compared to other exchanges. The fees charged by the exchange are generally between 0.015% to 0.10% and 15% per US wire exchange. Along with that, Binance delivers multiple charting options to its users.
[Image: Executium via Unsplash]