Can i transfer crypto from binance us to trust wallet
For many crypto traders, nothing beats holding your crypto in a web3 wallet where you own your private keys. While Binance offers a secure custody solution to keep your crypto safe, you may want to experiment with directly holding your crypto assets. If you want to go this route, you should always store your funds in a secure, self-custodial wallet like Trust Wallet. However, don’t forget that once you control your private keys, it’s up to you to keep them safe or risk losing your funds.
Read on to learn exactly how you can transfer your crypto from Binance to your Trust Wallet in just a few steps.
How to Withdraw Funds From Binance
Before you can get started withdrawing your funds from Binance, you will first need to set up Trust Wallet (if you haven’t already).
You can download the Trust Wallet app on your Android or iOS smartphone and complete the simple setup process.
Next, go to Binance.com, log into your account, and proceed to complete your two-factor authentication (2FA) verification. Alternatively, you can also access your Binance account using the Binance mobile app on your phone.
Now, it’s simple to check your Binance account’s wallets to see the digital currencies you hold.
Since the Trust Wallet app allows users to securely store over three million digital assets across 64 blockchains, you should be able to transfer essentially any cryptocurrency you hold on Binance to Trust Wallet with the following steps:
1. Go to your Trust Wallet app and enable the cryptocurrencies you want to receive from the Binance exchange.
To do that, open the app and click on the icon at the top right corner.
Proceed to search for the token you want to receive.
Swipe the button next to it to make it visible (as shown below). For the purposes of this guide, we will use BNB.
2. Select the digital token that you want to receive and click on it.
3. Click on the [Receive] button and copy and paste the BNB wallet address. Make sure to carefully check the network you selected. BNB is available on the BNB Beacon Chain (BEP-2) and BNB Smart Chain (BEP-20), which have different types of addresses.
4. Head to your Binance account and click on [Security] from the [Account] drop-down menu.
5. Scroll down to the [Withdrawal Whitelist] section and choose [Address Management] then [Add Address] to add your BNB wallet address.
6. Proceed to fill in the details needed. The address label should be the name of your BNB wallet address.
7. Paste the BNB wallet address copied from Trust Wallet under the [Address] section. Binance.com will automatically match the wallet address you add to the corresponding network to help prevent you from losing your funds.
8. Next, choose the origin of the address. Here, you have two options: Exchange or Wallet. Choose [Wallet], and then [Trust Wallet].
9. Check the [Whitelisted] box and then click on [Save].
10. Binance will require you to complete a security verification process. Once the verification process is successful, Binance will add your wallet address as shown below.
You can add as many addresses as you want.
11. To withdraw your BNB to your Trust Wallet app, click the [Wallet] button on the dashboard and select [Overview] in the drop-down menu.
12. Next, click on [Withdraw] and proceed to click on the [Withdraw Crypto] option on the far right-hand corner of the screen.
13. Select the coin you want to withdraw — in this case, BNB.
14. In the address section, choose the [Select from Address Book] option, add the withdrawal amount, then click on [Withdraw].
15. Complete the 2FA verification process and click [Submit] to complete the transaction.
Remember, you need to have enough BNB in your wallet to cover your network fees.
You can now go to your Trust Wallet app and check your BNB balance. If you tap on BNB, you will also be able to see all recent transfers.
And that’s it! That’s how easy it is to transfer digital currency from Binance to Trust Wallet.
Why Should You Move Your Crypto from Exchanges like Binance to Trust Wallet?
Binance.com and the Binance app provide exchange users with custodial wallets. That means that Binance holds its users’ wallets’ private keys, essentially holding digital assets on behalf of their users.
Some users prefer the responsibility of holding their funds themselves. This gives them direct control over their crypto, but they then need to look after their private keys themselves.
When your crypto is stored with Binance, much of it is held in cold storage. This provides a highly secure storage solution where private keys are never made available online.
Exchanges are often targets for hackers, and you may feel safer handling your assets yourself in Trust Wallet.
Download Trust Wallet today and start transferring your crypto from Binance to Trust Wallet.
Learning how to access BNB Smart Chain is one of the easiest ways to interact with cryptocurrencies and DeFi projects. Trust Wallet is a great way to do it outside of a desktop browser, and it only takes a few minutes to set up.
The Trust Wallet app is a mobile crypto wallet that doesn’t require registration. It’s available for iOS and Android users. Once installed, you can easily connect your wallet to DApps, including PancakeSwap, SushiSwap, and Beefy Finance.
Trust Wallet isn’t just for BSC either. It also supports the Ethereum, POA Network, and Callisto blockchains, to name a few. In this guide, we will use PancakeSwap as an example, but the process is pretty much the same for most DeFi platforms out there.
Installing and setting up Trust Wallet
1. First, head to the Trust Wallet website and click the link for your desired OS.
2. Install the app according to your specific device. After opening Trust Wallet, go ahead and click [Create a new wallet].
3. You’ll now see a seed phrase. It acts as a recovery password in case you lose access to your mobile device or wallet. Keep a copy of it in a secure, secret place.
4. After clicking [Continue], you’ll be asked to repeat your phrase in the correct order. This step is to ensure that you have copied or written down your seed phrase. Once you’ve input the words in the right order, click [Continue].
5. You now should have successfully set up your crypto wallet, and you’ll find yourself on the [Wallet] tab.
Depositing BNB into Trust Wallet
To use BNB Smart Chain (BSC) DApps, you will need some BNB to pay your transaction fees. Every time you send tokens using BSC or interact with smart contracts, you’ll have to pay some gas.
1. To use your BNB BEP-20 tokens for gas, your tokens must be sent using the BEP-20 transfer network. If you are withdrawing from Binance, make sure to choose the [BEP-20 (BSC)] option on the withdrawals page.
2. To deposit your BEP-20 BNB, open up the [Wallet] tab on Trust Wallet and click [Smart Chain]. Do not click [BNB]. This option is for BEP-2 BNB on BNB Chain and cannot be used to pay transaction fees on BSC.
3. Click the [Receive] button to find your deposit address. You can then copy and paste this address into your withdrawing wallet or scan the QR code.
Adding new tokens to your Trust Wallet list
After installing Trust Wallet, your default list of tokens and crypto is quite small. For example, let’s suppose you want to add CAKE to your list to make it visible in your Trust Wallet.
1. Open the [Wallet] tab and click the icon in the top right corner.
2. Search for the token you want to add to your list and click the toggle button, so it turns green. In this example, we’re adding CAKE (BEP-20), which is PancakeSwap’s token on BNB Smart Chain.
3. Done. You’ll now see CAKE on your [Wallet] tab and any balance that you might have.
Connecting Trust Wallet to PancakeSwap
There are a couple of ways you can connect your wallet to PancakeSwap and other DApps. You can either connect through the Trust Wallet mobile browser or on a desktop. Both offer the same functionality, so it comes down to your preference.
Connecting with the Trust Wallet browser
1. If you’re using the Trust Wallet DApp browser, head to the PancakeSwap website and tap the [Connect] button in the top right corner.
2. Select [Trust Wallet] to connect your wallet to PancakeSwap.
3. If you have connected successfully, you should see your wallet ID in the top right corner.
Connecting with a desktop browser
1. Head to the PancakeSwap desktop website and click [Connect] in the top right corner.
2. Click [WalletConnect] to start the connection process. Currently, the [Trust Wallet] button only works when using the Trust Wallet browser.
3. A QR code will appear, which is scannable with the Trust Wallet app. Head to the [Settings] of the app tab and click [WalletConnect]. Scan the QR code displayed on PancakeSwap and click [Connect] in Trust Wallet.
4. If you have successfully connected, PancakeSwap should show you the beginning of your wallet ID in the top right corner.
Trust Wallet is one of the most popular mobile apps to use and has a vast range in the blockchains and tokens it supports. It also acts as a gateway into NFTs and the whole DeFi ecosystem, so getting to know your way around it is important. The steps outlined above apply to other DApps as well, so once you’ve got this down, you’re really good to go.