How to withdraw usdt from binance to bank account in pakistan

What should I do if my Binance withdrawal has not arrived?

TL;DR

The process to withdraw your funds on Binance depends on the cryptocurrency or fiat currency you want to move. Some crypto can be withdrawn to multiple, different blockchains, so take care to select the right one.

The time it takes to withdraw funds differs on the method you’re using. For crypto withdrawals, each blockchain will require a certain amount of confirmations before it shows up in your wallet. You can check the status of your transaction by using the respective blockchain explorer.

Occasionally, Binance might suspend withdrawals due to technical upgrades. Binance will inform you if this is the case. If your withdrawal is still taking too long after checking all the possible reasons, you can get in touch with Binance’s customer support

Introduction

If you want to transfer funds out of your Binance account, you’ll need to go through the withdrawal process. The process will change depending on the blockchain, cryptocurrency, or fiat that you want to withdraw. Overall, it’s very simple, but you should be careful to follow each step closely to make sure you don’t accidentally lose your funds.

How to withdraw cryptocurrency from Binance

In this example, we will be withdrawing BNB to Trust Wallet and going through it step-by-step.

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Withdraw].

3. Select the [Crypto] tab and choose the cryptocurrency you’d like to withdraw.

4. If the cryptocurrency is issued on multiple networks, select which one you’d like to make your withdrawal on.

For example, BNB is issued on Binance Beacon Chain (former Binance Chain) as a BEP-2 token and on BNB Smart Chain (former Binance Smart Chain , BSC) as a BEP-20 token. As such, if you’d like to withdraw to a BEP-2 wallet address, choose the BEP-2 option. Be extra careful with this step. If you withdraw to the wrong address, you might lose your crypto assets.

5. Tap on BNB in your Trust Wallet.

6. Tap on [Receive].

7. Copy your BNB address.

8. Paste it in [Recipient’s BNB Address] on the Binance withdrawal page. If everything looks good, click on [Submit].

9. Click on [Send Code], and enter the six-digit code you received in your email.

10. Enter your 2FA code. If everything is in order, click [Submit]. You’ll be able to see your outgoing withdrawals in your Transaction history

How to withdraw fiat currency from Binance

Binance supports more than 60 fiat currencies and multiple different payment methods.

1. Log in to your Binance account. Once you’ve logged in, move your mouse to [Wallet], and click on [Fiat and Spot].

2. Click on [Withdraw].

3. Select the [Fiat] tab.

4. Select the fiat currency you’d like to withdraw and the payment method. The payment method options are based on your selected currency and region.

5. Enter the required details and follow the instructions.

6. And enter your verification code to confirm the withdrawal.

What are crypto withdrawal fees?

Withdrawing crypto from your Binance account incurs fees to cover the cost of network transactions . For example, removing BNB or Ether (ETH) requires Binance to send the crypto to a different crypto wallet on the blockchain.

In other words, any transaction on BNB Smart Chain (former Binance Smart Chain ), BNB Beacon Chain (Binance Chain), or Ethereum requires a gas fee that the user must pay to miners. Binance passes on the cost of this transaction fee to the user.

Each blockchain has its own fee schedule, so your crypto withdrawal fees will vary from coin to coin. Fees are also dynamic and change depending on network activity. The best and most accurate way to check withdrawal fees is to go to the withdrawal page itself.

What’s the minimum withdrawal amount on Binance?

Each cryptocurrency has a minimum withdrawal amount. You cannot withdraw less than the stated amount on the withdrawal page. You can see a list of all the minimum amounts and withdrawal fees on our Deposit & Withdrawal Fees

How long does a withdrawal take on Binance?

Binance will process your withdrawal as soon as requested, but each blockchain takes different amounts of time to confirm your transaction. Bitcoin (BTC) can take on average anywhere from around ten to 30 minutes to successfully confirm a withdrawal. BNB Smart Chain withdrawals often take just a few minutes, whereas Ethereum can take slightly longer. The more congested a network is with traffic, the longer you will have to wait.

Why is my Binance withdrawal stuck processing?

Your transaction might be stuck because the blockchain still needs to confirm your transaction or is congested. As we mentioned before, some blockchains need more network confirmations than others. In periods of heavy traffic, the transactions may take much longer than expected.

Why can’t I withdraw from Binance?

There are a few possible reasons why you can’t withdraw from Binance. First, if you have recently changed your password or disabled your SMS/Google authentication, Binance will suspend withdrawals for 24 hours. If you do a complete reset of your SMS/Google authentication, Binance will suspend withdrawals for 48 hours.

If Binance detects any abnormal activity in your account, the withdrawal function will again be temporarily suspended. This stoppage is to protect your account and funds. Also, occasionally Binance works on system upgrades which require stopping withdrawals until the update is complete.

What should I do if my Binance withdrawal has not arrived?

If you have checked that the blockchain is not congested and your withdrawal still hasn’t arrived, contact Binance’s support team for more assistance. If you’re attempting to withdraw fiat to your bank, this can take multiple days.

Closing thoughts

Withdrawing your crypto from Binance is a simple process that typically goes without problems. Whether you want to take out fiat or move crypto, all the information you’ll need is displayed on the withdrawal page. If you are having trouble, check your emails to see if Binance has possibly suspended withdrawals. You can also look at a blockchain explorer to check network congestion. Overall, patience is key here. More often than not, all problems are temporary. But if you still are struggling, then Binance’s support team will be happy to assist.

With effect from 2021-11-19 09:00 (UTC), the USD (SWIFT) bank deposit/withdrawal channel will no longer be supported for these countries mentioned below.

Please note that fund transfers from the below list of countries will be rejected and returned to the sender’s wallet. The amount returned will be net of any administrative fees incurred. Returns generally take 8 – 20 business days depending on the country.

The full list of countries are listed below:

  • Afghanistan

  • Albania

  • Barbados

  • Belarus

  • Benin

  • Bolivia

  • Bosnia-Herzegovina

  • Botswana

  • Brazil

  • Burkina Faso

  • Burundi

  • Cambodia

  • Cape Verde (Cabo Verde)

  • Central African Republic

  • Chad

  • Colombia

  • Comoros

  • Congo (Brazzavile)

  • Congo, Dem. Rep.

  • Croatia

  • Cuba

  • Curacao

  • Dominican Republic

  • Equatorial Guinea

  • Eritrea

  • Gabon

  • Ghana

  • Guatemala

  • Guinea

  • Guinea-Bissau

  • Haiti

  • Iceland

  • Indonesia

  • Iran

  • Iraq

  • Jamaica

  • Kenya

  • Korea, North

  • Kosovo

  • Laos

  • Lebanon

  • Lesotho

  • Libya

  • Macedonia

  • Madagascar

  • Maldives

  • Mali

  • Malta

  • Mauritania

  • Mauritius

  • Mexico

  • Mongolia

  • Montenegro

  • Morocco

  • Mozambique

  • Myanmar

  • Nepal

  • Netherlands Antilles

  • Nicaragua

  • Niger

  • Nigeria

  • Pakistan

  • Palestinian Territories-West Bank/Gaza

  • Panama

  • Papua New Guinea

  • Paraguay

  • Philippines

  • Russia

  • Saudi Arabia

  • Senegal

  • Serbia

  • Sierra Leone

  • Somalia

  • South Sudan

  • Sudan (North)

  • Swaziland

  • Syria

  • Togo

  • Turkey

  • Turkmenistan

  • Uganda

  • Ukraine

  • Venezuela

  • Vietnam

  • Yemen

  • Zimbabwe

For the countries not listed above, the USD (SWIFT) channel will remain available for use.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins but will not be responsible for your trading losses.

Withdrawing your money from Binance can be a bit tricky for new account holders. But don’t worry, we will walk you through the steps to make the procedure easy for you to follow.

How to Withdraw Money from Binance 

Withdrawing money from Binance is divided into three major steps:

  1. Enter the withdrawing mediums.
  2. Transfer the coins to P2P Trading on the wallet.
  3. Sell to the purchaser.

Enter the Withdrawing Mediums

Before starting any trade, log on to your Binance account to enter the withdrawing mediums. These mediums can be Bank Transfer, EasyPaisa, and JazzCash. The steps are as under:

1.On the Dashboard, select “P2P Trading”. 

2.P2P trading page will appear, select three dots on the top right corner of the app.

3.Choose “Payment Settings”.

4.A new interface will appear, select “Add a New Payment Method”. Select “All Payment Methods” and choose the medium of your choice. 

5.Enter the correct details for either Bank Account, EasyPaisa, or JazzCash and select “Confirm”. 

Transfer the Coins to P2P on the Wallet

To withdraw money, transfer the coins to P2P Trading. 

  1. On the Dashboard, go to “Wallet”. A dropdown menu will appear. Select “Fiat and Spot”. All your assets will be displayed here.
  2. Select “Transfer”. A new interface will appear, transfer From “Fiat and Spot” To “P2P”. Choose USDT in the coins, enter the amount and select “Confirm”. 

Sell to the Purchaser

To withdraw your money from the Binance account, you can sell your coins to the purchasers that are listed down in the app. Let’s look into it in detail:

1.On the Dashboard, select “P2P Trading”. 

2.Next, select the “Sell” option and change the currency to PKR. 

3.Select the coins you want to sell. For example, USDT, BTC, BUSD, BNB, ETH, and DAI. The most common and easily available purchasers are USDT, BTC, and BUSD.

4.Select the purchaser who has a good conversion rate and the limit falls in your desired category. Select “Sell USDT”.

5.Enter the amount you want to sell, choose a payment method, and select “Sell USDT”. 

6.On the next page, you can see the details of the trade.

The amount is usually deposited by the purchaser in your account within 30 minutes and you will receive the confirmation. Select “Confirm Release” if you have successfully received the amount. If not, you can select “Appeal” and raise a dispute. 

Creating a Digital Wallet on Binance

After you have successfully made a Binance account for free, here are the steps to create a digital wallet on the app.

  1. Click on the “Wallet” on the dashboard bar.
  2. A large list of crypto coins will appear along with three options each: “Deposit”, “Withdraw”, and “Trade”. 
  3. If you are not able to see the choice of a coin, simply search the name using the search bar at the top. 
  4. Once you have chosen the coin, click the “Deposit” action. 
  5. A wallet tap will open and “BTC Address” will be shown on the right side of the screen. This address is your own wallet address.

When receiving BTC from a different wallet, select the “Withdraw” option on the sender’s wallet and copy the BTC Address of your wallet. This way BTC will be transferred to your own Binance Wallet. 

When purchasing Bitcoin from any provider, provide a BTC Address to the provider to deposit the coins. 

Note: Copy the exact BTC Address every time. An incorrect address might result in losing coins. For any selection of coins, the same procedure will be followed.

Benefits of Binance Account

Having an account on Binance can provide some main benefits. These include:

  • Binance lets its users trade cryptocurrencies with leverage/margin.
  • It does not require users to verify the account. 
  • Users can deposit, trade, and withdraw their cryptocurrencies to and from Binance without providing details such as ID Card (CNIC for Pakistanis), or Passport details. 
  • Binance will only ask its users for a valid e-mail address.
  • Binance accepts National Identity Card (CNIC) or Passport scans of users who are willing to verify their identity.
  • Identity verification can give their users the ability to withdraw more than 2 BTC per day and access to higher leverage for trading. 
  • Binance also offers leverage up to 20x but even with an unverified account, users may access leverage of 5x.
  • Binance has low fees at 0.10% which may be lowered to 0.05% if users purchase and use their own coin – the Binance Coin (BNB).

Remember

Verifying your Binance account is necessary to start with any kind of transaction. Without verification, Binance does not allow its users to withdraw any money.

Written by Jane