Binance has a feature that allows users to easily transfer funds between Binance accounts. In this article, we will explain to you how to do it.

How to receive crypto on Binance

To receive cryptocurrency on Binance, go to the “Wallet” tab in the top-right and select any wallet in the drop-down menu. 

In the window that opens next, press the “Deposit” button and select the cryptocurrency that you wish to receive.

Next, you need to copy the wallet address and also choose the network. You can copy the wallet address itself or the QR code, or both. Once done, send those to the person that’s going to send you the money.

Important: double-check the wallet address and the network in the transaction details; if your network and that of the sender don’t match, your funds will be lost!

Once done, you only have to wait for the funds to arrive in your account.

How to send crypto on Binance 

On the sender side, the process also starts from the Wallet -> Fiat & Spot tab. In this section, you need to click the “Withdraw” button.

Next, select the currency, add the address and check the network in which you will transfer the money. All the details must match the recipient’s data!

Before submitting, make sure that the network you choose matches that of the recipient; otherwise, your assets may be lost.

Then you’ll be shown the fee for the transfer. If you’re making an internal transfer (i.e. if the recipient also has a Binance account), then there will be no commission. In case the transfer is aimed outside Binance, the commission will be shown right after entering the recipient’s address.

If the withdrawal of an asset is marked as “complete”, then the transaction was successfully broadcast to the blockchain network. However, it may take some time (usually a few minutes) to fully confirm the transaction and credit the funds to the wallet. The number of network confirmations required varies, as do transfer times.

Transferring cryptos between Binance wallets 

On Binance, you can freely transfer funds between your internal accounts. 

1.In the top-right menu, open the “Wallet” tab, then go to the “Wallet Overview” section and click the “Transfer” button. 

2. In the pop-up window, select and/or swap the direction of the transfer. In this case, we’ll transfer crypto to the Funding wallet. 

3. After that, you need to select the cryptocurrency to transfer, enter the amount, and confirm the operation.

Note: Binance has a maximum limit for transfer. The size of the limit depends on both your verification level and the cryptocurrency itself. You can find out the size of your limit on your account page.

Apart from cryptocurrency, you can also transfer fiat money this way.

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