How to transfer usdt from binance to metamask binance smart chain
Binance is the largest centralized exchange in the crypto sphere. It allows us to transact cryptocurrencies, but also deal with derivatives, futures, margin trading, and many more. Binance has services for users to earn interest or transact using cryptocurrencies. It also offers programs for miners and traders to make investment decisions.
In this tutorial, we will show you how to transfer assets between Binance and MetaMask.
MetaMask is a non-custodial crypto wallet that enables you to manage your crypto assets on multiple blockchains, such as Ethereum, Binance Smart Chain, Polygon, and more. Check out What is MetaMask!
How to Transfer Assets from MetaMask to Binance
Go to the Binance official website, login into your account, and head over to the Wallet:
Click on Overview:
Choose Deposit Crypto
Select the coin that you are going to deposit. In this tutorial we are using USDT:
After selecting the coin, you will see all of the supported networks on Binance:
BEP2 refers to Binance Chain.
BEP20 refers to Binance Smart Chain (BSC).
ERC20 refers to the Ethereum network.
BTC stands for Bitcoin network.
TRC20 is a technical standard used for smart contracts on the TRON network.
It’s very important to select the right network to deposit to. Since our USDT on our MetaMask sits on the Ethereum network, we select ERC20 network.
After selecting the coin and its network an address will pop up under the network. Copy it:
Open your MetaMask wallet, make sure that your MetaMask is on Ethereum network and select the coin (USDT):
Press the Send button:
Now you need to enter the wallet address that you copied on your Binance account and select Next:
Enter the amount and click on Next and then confirm the transaction:
Now the USDT will be transferred from your MetaMask to Binance.
How to Transfer Assets from Binance to MetaMask
Open Binance exchange’s website and login into your account. Click on Wallet:
Select Fiat and Spot:
Find the coin that you want to send and click on Withdraw over the right-hand side. In this tutorial we use ETH:
To find your MetaMask Wallet address, open MetaMask and check that it’s on the right network, then click on Receive:
Copy the address and paste it into the address tab on Binance:
Select your receiver’s wallet network which is Ethereum network in this example, enter the amount of the coin that you want to withdraw and press Withdraw:
Check the address, the network and the amount and if everything is alright, click on Continue.
Now you will receive a verification email. Enter the verification code which is sent to your email and click on Submit. After that, a pop-up will appear which shows that your withdrawal request has been submitted.
Great! Now you have learned how to transfer assets between Binance and MetaMask.
This series article is intended for general guidance and information purposes only for beginners participating in cryptocurrencies and DeFi. The contents of this article are not to be construed as legal, business, investment, or tax advice. You should consult with your advisors for all legal, business, investment, and tax implications and advice. The Defiant is not responsible for any lost funds. Please use your best judgment and practice due diligence before interacting with smart contracts.
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While sending USDT tokens to a wallet address, it is very important to select the right transport protocol. On the Ethereum blockchain, you need to use the ERC-20 tokens while on the Binance Smart Chain, USDT is deployed in the form of pegged BEP-20 tokens.
There are plenty of people who confuse USDT BEP-20 with USDT ERC-20 and they end up sending their USDT tokens to the wrong blockchain. The chances of recovering cross-chain deposits are so minimal that it’s better to say you will not be able to retrieve the funds.
Before getting to a step-by-step guide for sending USDT tokens to your MetaMask wallet, let’s take a quick look at the difference between USDT ERC-20 and USDT BEP-20. This will help you understand why you need to check the destination address so carefully and confirm that you have indeed selected the correct transport protocol.
But despite doing this correctly, many users panic when the USDT doesn’t appear in their MetaMask wallet. Read on to find out how to send USDT to MetaMask and also how to find the USDT sent to your MetaMask wallet if it seems to have vanished!
What is USDT?
The native tokens of the Tether network are the Tether tokens. These are traded under the USDT symbol,
Tether is a blockchain-enabled platform. It enables the use of fiat currencies in the digital form – on blockchains. With Tether, you can convert your cash from the traditional fiat currency into its stable digital currency equivalent – the USDT.
While most cryptocurrencies are highly speculative investments, USDT valuations remain stable. These types of cryptocurrencies are called stablecoins.
The value of USDT tokens is backed by an equivalent amount of the fiat currencies, such as the dollar, the euro, or the Japanese yen, which are locked up in a designated bank account to create the value.
The conversion rate is: 1 USDT token is equal to 1 US Dollar (USD).
You can send and receive Tether tokens (USDT) securely across the blockchain. They can be easily redeemed for their cash equivalent at any given time.
To enable transactions of tokenized traditional currency, Tether originally used the Omni Layer of Bitcoin network as its transport protocol. But now Tether tokens can be sent to various addresses using different transport protocols.
USDT ERC-20: On the Ethereum blockchain, Tether as ERC-20 tokens (transport layer) is used in Ethereum smart contracts and dApps on the Ethereum blockchain. USDT can be sent to any Ethereum address as an ERC-20 token.
For token implementation, ERC-20 is the technical standard used for all smart contracts on the Ethereum blockchain. This means that – for all ERC-20 transactions on the Ethereum blockchain, the fee for the transaction has to be paid in ETH by the sender.
USDT BEP-20: USDT can be used on the Binance Smart Chain in the form of a pegged BEP-20 tokens. USDT BEP-20 tokens can be used in various DeFi protocols on the BSC network.
Step-by-Step Guide: How to Transfer USDT from Binance Account to MetaMask Wallet
Depending on your requirement, you can send both ERC-20 and BEP-20 tokens to MetaMask – but do keep in mind their addresses will be different even on the same MetaMask wallet.
If your intention is to use the MetaMask wallet to connect with BSC apps such as CryptoBlades, you first need to make your MetaMask wallet compatible with the BSC network. Then you can transfer USDT BEP-20 tokens to the MetaMask wallet.
So let’s see how that’s done.
Step 1: Connect MetaMask Wallet to BSC Network
Metamask was originally designed as a wallet for the Ethereum network. It was your passport to visit and engage with the various exciting applications on the boundless Ethereum landscape.
Thankfully, we can all now enjoy this technology to connect with the BSC network as well. But you first need to configure the wallet to point it towards this blockchain.
If you haven’t done that already, check out our guide on the topic:
Read more: How to Connect MetaMask Wallet to BSC Network
Step 2: Log into Binance Account and Withdraw USDT
Once your MetaMask wallet is set to the Binance Chain Network, its time to withdraw USDT from your Binance account
1. Log into your Binance Account. Click on the ‘Wallet’ option in the menu bar.
2. From the dropdown options, choose ‘Fiat and Spot’.
3. Now you can view all your holdings in the Binance Account
4. You can click on the ‘Withdraw’ button in the top menu bar. But I suggest clicking on the ‘Withdraw’ option given in the Action section of the token (USDT) you want to withdraw. This will take you directly to the withdrawal page with the USDT token already selected for transfer.
But just in case, you ended up choosing the ‘Withdraw’ button in the top menu bar and ended up on the following page, no worries, just click on the ‘Crypto’ option next to Fiat to reach the Crypto withdrawal page.
5. The coin selection will probably be set to BTC, just switch that to USDT. Now you need to enter the correct MetaMask wallet address.
6. Head over to your MetaMask wallet. Ensure the network is set to Smart Chain. Then copy the address by clicking on it. It will automatically be copied to the clipboard. If you have multiple accounts in the MetaMask Wallet, then you need to copy the address of the account you want to transfer the funds to.
Read more: How to Create Multiple Accounts in MetaMask Wallet or How to Create Multiple CryptoBlades Accounts in MetaMask Wallet
7. Once you paste the address, you need to select the right network. This is the most important part of this process. Unmatched networks are automatically removed, but you still have to choose between ERC20 and BEP20.
Now if you are sending USDT to the Ethereum network on your MetaMask Wallet, you choose ERC20. If you are sending USDT to the Binance Smart Chain network on your MetaMask wallet, you choose BEP20.
My requirement is BEP20 as I want to use this token on BSC dApps, so I have selected BEP20.
8. As you can see the fee charged here is 0.8 USDT. So if I send 1000 USDT, the receiver only gets 999.2 USDT.
9. Once you have entered all the necessary details, click on ‘Withdraw’. You will get a notification that you are transferring the funds using the BSC network and to confirm whether the receiving platform supports the BSC network. Click ‘Confirm’ as we have already set the MetaMask platform to Binance Smart Chain.
10. Again you get a pop-up with details of your transaction, asking you to be sure of the address you have pasted, as well as, the network chosen. The reminder ‘Transactions cannot be canceled’ – can get newbies stressed. But go ahead and click on ‘Continue’.
10. The next step is security verification where you will be asked to enter the verification codes sent to your registered email and mobile phone.
11. Once the security verification is done your withdrawal request is submitted. You have to click on ‘Complete’ to begin the transaction. Once initiated, you cannot stop the transaction.
12. It may take a few minutes (or more) for the transaction to get completed. The USDT transfer will now appear in the MetaMask Wallet. Voila! We have done it!
Unable to View USDT in MetaMask Wallet: Where are my Tokens?
The USDT left Binance, but did not arrive in Metamask? Can’t find USDT tokens sent from Binance to MetaMask?
Have you completed the above steps correctly? But the USDT sent to the MetaMask Wallet has vanished?
Don’t worry! You just need to ‘add the USDT token to the MetaMask Wallet’ to view it.
But I already did that! I added a USDT token to the BSC network of my MetaMask wallet. I had selected the BEP20 network while sending it from Binance. My wallet is displaying USDT, but it shows 0 USDT. My transaction has not arrived on MetaMask. What can I do? Please HELP!
This is a common version of the comments in the MetaMask community forum, from panicking users.
If you did
- correctly send the USDT BEP20 tokens from your Binance Account
- to the Binance Smart Chain network of your MetaMask account
- Your Binance Account shows the transaction as completed
Then your USDT tokens have safely arrived in your MetaMask account.
If you can’t see it despite adding USDT token to your MetaMask wallet, it simply means you have entered the wrong token contract address. Remember you are trying to view USDT BEP 20 tokens. You need the token address for BEP20, not ERC20 or any of the other USDT transfer protocols.
So how to correct this?
You need to add the USDT BEP20 token contract address using the ‘Add Custom Token’ button of your MetaMask Wallet.
Confused about how to actually do that? Just read our Step-by-Step Beginners’ Guide on the topic:
Read more: Adding Custom Tokens: How to View USDT Tokens on MetaMask
Before You Go…
You can use USDT BEP20 tokens to buy other crypto coins on various BSC dApps. Looking to buy SKILL for playing CryptoBlades? Head over to PancakeSwap or ApeSwap to buy SKILL using USDT. Make sure you have enough BNB in your MetaMask account for the transaction gas fees.
As you can see, it’s quite easy to transfer USDT from Binance to MetaMask. But if you are doing this for the first time, it can be intimidating. It can become downright terrifying if you find that the USDT did not arrive in the MetaMask wallet.
Just make sure to add the right token contract address of USDT to your MetaMask account before doing the transfer. This way you can immediately view the USDT when it arrives in the MetaMask account. When adding as a custom token in MetaMask, keep in mind that USDT ERC20 and USDT BEP20 have different contract addresses.