Currently, Binance and Coinbase are the most famous crypto exchanges. Therefore, it is likely that crypto users will, at some point, want to transfer their funds from Binance to Coinbase or the other way around.
So, this discourse looks at how to transfer your funds from Binance to Coinbase without experiencing problems.
If you wish to try your hands on crypto, you will need to understand how to make use of the essential applications that facilitate the transactions you wish to make.
Now, Binance and Coinbase continue to be among the best crypto trading and exchange platforms in 2024. That is why it is important to have a good understanding of how they work and what limitations they may bring. And that covers how to transfer from Coinbase to Binance and from Binance to Coinbase.
In a nutshell, to transfer crypto from Binance to Coinbase or vice versa, you must go through the following procedures:
Procedure 1: Connect to your Binance and/or Coinbase account;
Procedure 2: Check if the exchange platform and wallet support the cryptocurrency you want to transfer;
Procedure 3: Start the transfer process by checking the fees of the cryptocurrencies & networks accepted;
Procedure 4: Enter the wallet address where you want to send the funds, the network, and the amount you want to transfer;
Procedure 5: Double-check the withdrawal process & complete the 2FA steps and/or the whitelist steps;
Procedure 6: Confirm the transfer.
For an in-depth understanding, we recommend you carefully read all these detailed steps below to avoid any problems concerning your assets.
How to Transfer from Binance to Coinbase – Step-by-Step Guide
When transferring crypto from one platform to another, one can do it directly from the exchange platform rather than from one Coinbase wallet address.
This means you can transfer funds directly from Coinbase to Binance or from Binance to your Coinbase address without transferring the funds to your personal wallet and then to the other platform. This process is known as an “on-exchange” transfer.
This can be a more convenient option, as it eliminates the additional step of transferring funds to a personal wallet and may include lower transaction fees. However, it is important to note that doing so could expose you to the risk of security breaches because you entrust your funds’ security to the exchange.
To make the process easier, let us say you want to transfer Solana from Binance to Coinbase. Of course, you can transfer many other crypto assets this way. So, to do this, you’ll have to:
Step 1: Log into Your Coinbase Account
First, you will need to connect to your Coinbase account. To do this, simply access Coinbase and log in using your credentials (email address and password). If you have set up the two-factor authentication process, you will also need to confirm your login.
If you do not have a Coinbase account yet, you can complete the signup process in just a few minutes and then wait for the exchange to complete the verification process. The Coinbase verification process can take from a few minutes to 48 hours.
Step 2: Check if Coinbase Supports Solana
After you log in, you will spot the Coinbase dashboard. There, in the upper right corner of the screen, you have a search bar where you can search for Solana.
So, simply look for it and check if Coinbase supports it. You can also check it by going to the “Supported Crypto Assets” page on Coinbase’s official website.
Step 3: Click on “Send & Receive”
In the upper right corner of the screen, you will see the “Send & Receive” button. Click on that, then click on “Receive.”
Then, select Solana from the drop-down menu. You will see a QR code and, below that, the SOL address. Click on the “Copy” button.
Step 4: Log into Binance
Once you copied the Solana address, it is time to log into your Binance account. Just like with Coinbase, sign in using your credentials (email address/phone number and password).
Once you are logged in, hover on the wallet icon and click on “Overview.”
Then, in the “Estimated Balance” section, you will see a “Withdraw” button. Click on that.
Step 6: Complete the Withdrawal Process
Once you reach this page, it is time to actually transfer your funds from Binance to Coinbase. To do this, select Solana in the “Select Coin” section.
Then, paste the address you copied earlier in the “Withdraw to” section. The network will be automatically filled in.
Select the withdrawal amount and check the withdrawal fees. Afterward, you can confirm the process and wait for the funds to reach your Coinbase account.
You can also complete this process from the Binance or Coinbase app if you prefer to do it from your mobile device. Both Binance and Coinbase apps are supported by Android and iOS devices.
Binance to Coinbase Transfer Fee
If you aim to withdraw crypto from Binance to Coinbase, you have probably asked yourself: “Do Binance and Coinbase charge fees?”. Well, the short answer is “yes.”
Coinbase does not charge fees when transferring crypto to its platform. However, you have to pay network fees.
Network fees can vary depending on the network congestion. Still, when you are trading within the same network, fees are significantly lower.
Also, on Binance, you have some set fees for crypto withdrawals. Although they depend on the crypto you want to transfer, the fees are pretty low. One of the cheapest fees is for Aptos, reaching only 0.008. You can check out Binance’s fee schedule for more information.
How Long Does it Take to Transfer from Binance to Coinbase?
Most time, if you transfer assets from Binance and Coinbase, you should not wait longer than 30 minutes. However, there may be situations when it takes longer if the network is bad.
Note: This depends on the network used. On Stellar network, it should not take more than a few minutes. On Bitcoin or Ethereum, it might take from 30 minutes to 2 hours. Do not panic if your transfer has not reached out yet, and never give someone your email or other private information.
If your transfer takes longer than 24 hours, you should contact the support team, as there may be a problem with it, and the longer you wait, the harder it gets to recover your funds in one account or another.
Transferring Funds: Precautions
As we mentioned earlier, it is important to check the transfer information before confirming it. If something was typed wrong during the process, it is close to impossible to recover those funds.
Furthermore, keep in mind that enabling 2FA (Two-Factor Authentication) is also important because you can ensure once again that your crypto is safe. Considering the hacks that take place these days, 2FA plays a key role in keeping digital assets safe.
Transferring Funds from Binance to Coinbase: Pros and Cons
Pros
- The transfer usually takes less than 40 minutes;
- Coinbase offers an extremely user-friendly interface and has multiple platforms designed for various levels of knowledge (Coinbase Simple Trade, Coinbase Advanced Trade).
Cons
- Coinbase accepts fewer cryptocurrencies than Binance;
- Coinbase doesn’t support BNB Smart Chain;
- Coinbase charges higher trading fees.
About Coinbase
Coinbase was introduced in 2012 by Brian Armstrong and Fred Ehrsam. Since then, it has offered seamless services to all crypto enthusiasts. At the moment, it is the 2nd biggest cryptocurrency exchange on the market.
If you wish to work with a safe, secure, and easy-to-use platform with a great UI/UX design, then Coinbase should be your go-to app for all your crypto transactions. If you wish to sync all your transactions and ensure a steady place for your coins, you can also sign up for the Coinbase wallet
FAQ
Can You Send Crypto from Binance to Coinbase?
Yes, you can send directly from Binance to Coinbase as long as both platforms accept the specific crypto.
You can also do this through a wallet by simply transferring funds to the recipient’s wallet address and then to the other platform.
How to Withdraw from Binance to Coinbase?
All you need to do is log into both your Binance and Coinbase accounts, copy the crypto address from Coinbase, and paste it in your Binance account, in your wallet overview, after you click on “Withdrawal.”
Conclusion
Transferring cryptocurrency from Binance to Coinbase is not a complicated stuff. However, you will have to be extremely cautious about the transfer details before completing the process to prevent permanent loss of funds. In addition, the transfer cost is complexly dependent on the network and the cryptocurrency you have to transfer.
In that case, it would be nice to confirm the charges before embarking on the withdrawal process. This is essential whether you want to transfer from Binance to Coinbase or from Coinbase to Binance.