How to transfer bitcoin from binance us to another 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.

With a secure digital wallet and the right platform, sending Bitcoin is safe and easy.

Sending traditional currency — or receiving it — can be frustrating. Fees add up and restrictions may vary from region to region. But how does all this apply to Bitcoin?

In this article, we’ll share the basics for sending and receiving Bitcoin and the simple steps you need to take to do it securely.

Let’s start by examining why you might send crypto in the first place.

Why Send or Receive Crypto?

There are many advantages to sending or receiving crypto instead of using a traditional money transfer service. Some of the biggest include time saved, lower fees, and limited information disclosure.

With traditional transfers, the money can take three to six business days to arrive in the receiver’s account and requires a substantial fee for same-day deposits. With crypto, transfers take seconds.

Fees tend to be much lower when sending crypto as well. Traditional transfer services charge fees close to 10% of the amount being transferred. But with many crypto payment apps, the fees are often less than 1%.

Traditional transfer services also often have an upper limit on how much you can transfer, which may differ from region to region. With cryptocurrencies, no such limit exists.

Finally, once you have an established account with a leading crypto platform, such as Binance.US, you can send or receive crypto securely without providing any potentially sensitive personal information.

How does this work? And what else do you have to know to send or receive crypto? Let’s take a look at some crypto basics before we discuss this in more detail.

Crypto Basics to Understand

Part of the reason you can send and receive crypto so quickly and securely is because of its underlying technology: blockchain.

A blockchain is an encrypted digital database ledger distributed over a network of computers. It’s comprised of blocks, each of which records validated details about a digital transaction, such as the sale or transfer of crypto. Once added to the chain, the blocks are immutable.

The combination of validation — no block can be added until the transactions have been validated — and immutability enables the secure sending and receiving of cryptocurrency and other digital assets.

Each cryptocurrency carries two keys — or strings of characters — that encrypt data. A public key visible to anyone on the blockchain is akin to a street address and allows a sender to easily locate a receiver. The private key is secret and used by the sender to authorize the transaction.

A Bitcoin address is simply a condensed version of the public key. As with physical locations and physical packages, the Bitcoin address allows you to send Bitcoin from your virtual location to a recipient at theirs.

Addresses are just that — destinations. They aren’t meant to hold or store cryptocurrencies. To do that you’ll need a crypto wallet.

What’s a Crypto Wallet?

Unlike a traditional wallet that holds your fiat currency, a crypto wallet does not actually hold your cryptocurrency. Instead, a crypto wallet holds the public and private keys mentioned above.

The “actual” cryptocurrency is just an encrypted string of characters and numbers whose record becomes part of the transaction history locked in the immutable blockchain.

But to do anything with them, you’ll need a key — your private key safely stashed in your digital wallet. Some crypto platforms offer a digital wallet as part of their app or online system. Others offer a wallet you can download.

Alternatively, you can choose to purchase software or hardware wallets.

Software Wallets

Software wallets are programs or apps that hold your crypto keys. Since they are software, they can be generalized or specialized for particular cryptocurrencies. They are available for your laptop, mobile device, or can reside entirely online.

Hardware Wallets

Hardware wallets are as they sound: a device similar to a USB or hard drive that stores crypto key information. They offer the advantage of being somewhat disconnected from the network — authorization takes place on the hardware device, not on network-connected software.

So what kind of wallet should you use?

If you are fiercely protective of your crypto assets, a separate wallet — not a platform’s custodial one — may be best for you. As to the difference between software and hardware, it may come down to preference and ease of use.

Software wallets, especially mobile ones, tend to be very simple to use. And if making many rapid transactions is important, software wallets may give you an edge. If you make infrequent transactions and/or care more about safely storing your cryptocurrencies, the super-secure nature of hardware wallets may be appealing.

But regardless of type, crypto wallets, like Trust Wallet, make sending and receiving Bitcoin super easy.

How to Send and Receive Bitcoin Securely

It is possible to send or receive Bitcoin securely without a crypto wallet as many exchanges will allow exchange-to-exchange transfer of BTC. Crypto payment services and crypto platform apps may also enable sending and receiving without a separate wallet. Check your crypto platform or preferred crypto payment service to see what it offers.

Overall, sending or receiving crypto works best from a digital wallet. Here are the basic steps to complete your transactions.

How to Send Bitcoin in 3 Simple Steps

1. In your crypto wallet, choose “send” and enter the address you want to send the Bitcoin.

2. Enter the amount of Bitcoin you want to send.

3. Complete the transaction by clicking “send.”

How to Receive Bitcoin in 2 Simple Steps

1. In your wallet, select “receive” or “generate a new address.”

2. Share that address with the person sending you Bitcoin.

Things to Keep in Mind When Sending Bitcoin

Crypto transactions tend to be more permanent as blockchain’s immutability makes it impossible to simply “reverse a transaction.”

So, before you click send, triple-check the address to make sure the crypto is going to the right person. Since addresses are a string of characters and numbers that can look like nonsense, it’s important to carefully proofread each character before initiating anything.

Also, use only a secure, trusted service. Bitcoin’s integrity is protected by its cryptographic encryption, so it’s almost impossible to counterfeit it, and blockchain provides a highly secure transaction recording environment. But if the service you use isn’t secure, all bets are off.

The same goes for your personal information or private keys. If they’re stored with a platform service, your information and key are only as safe as the service is secure. Choose a platform partner wisely.

Send and Receive Bitcoin With the Right Crypto Platform

Figuring out how to send Bitcoin is relatively straightforward — especially if you have a crypto wallet. Perhaps the most important component of buying, selling, or trading, though, is having the best crypto platform partner.

Here are a few things you’ll want to look for in a crypto partner for the long haul.

Security. Above all else, make sure your personal information is safe and look for a platform that uses two-factor identification in addition to anti-theft tactics.

Services. A strong platform will offer more than just simple buy or sell functionality. More advanced features that will allow investing over time can help your Bitcoin grow so you have more to send!

Fees. As we saw with traditional money transfers and payment services, transaction fees can quickly erode the value of what you’re sending or make it prohibitively expensive to do so. Consider both the normal Bitcoin network transaction fees and any charged by the platform.

Binance.US is known for its reasonable and clearly communicated fees, so there are no hidden surprises.

Ease of use. The basic steps to send or receive Bitcoin are fairly straightforward. Make sure the platform you choose allows you to easily send and receive BTC, so you always know what’s going on and what you have to do next to achieve your goals.

Keeps you smart. The right platform partner will keep you ahead of the learning curve so that your crypto experience isn’t a trial-by-error ordeal. Check out its educational resources and the range they cover so you can be prepared for all things crypto.

To buy, sell, send, and receive Bitcoin on Binance.US, create your free account today.

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Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.

Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in a significant loss. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies. Please refer to our Terms of Use for more information.

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Written by Jane