Binance and Coinbase are one of the most popular Cryptocurrency exchange platforms that offer Crypto investors the flexibility to buy, sell, and trade their Cryptocurrency. They offer to trade various Cryptocurrencies such as Bitcoin, Ethereum, Uniswap, Chainlink, Compound, and many more. However, many users prefer transferring their Cryptocurrencies like Ethereum from Binance to Coinbase wallet for a change. But how do they do it? How to transfer ETH from Binance to Coinbase wallet?
Well, if you wanna find out, then follow this article.
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How to transfer ETH from Binance to Coinbase wallet?
To transfer ETH from Binance to Coinbase Wallet, you first need to access both of your Binance and Coinbase accounts from their respective apps, and then follow this step-by-step tutorial.
- Access Coinbase dashboard from the Coinbase app.
- Now, tap on the “Receive” tab.
- Then, type “ETH” in the search tab and tap on it.
- You will get a “QR code” which consists of the ETH address.
- Tap on it to copy.
- After that, go to your “Binance” app and access its “Wallet.”
- Now go to the “Spot” section of the wallet.
- Then select the “Withdraw” tab followed by ETH.
- Now, “Add and Whitelist” your destination address, i.e., your ETH address, by tapping the “Address Book” alike option, and then on the “Go to Add” option.
- Paste the “ETH address” into the “Address bar” which was copied from the Coinbase Wallet.
- Now select “Ethereum (ERC20)” network to transfer Ethereum.
- Then, tap on “Address Origin” and select “Wallet” under the “Type” section.
- Similarly, select “Others” for Platform.
- Then, give it a name. For example; type “Coinbase Wallet” under the “Platform Name” section.
- Now tap on “Confirm.”
- Verify every information like; Coin, Address, Network, and Address Origin to make sure it is correct.
- Then tap on “Save.”
- You will be asked to enter a “Verification Code”, which will be sent to your phone number as well as your email address.
- After the verification is completed, you will be redirected to the “Withdraw” page.
- Now, tap on the “Address bar” and select the “ETH address”, and then tap on “Confirm.”
- After that, tap on “Ethereum (ERC 20)” for ETH transfer, and then on “Confirm.”
- Tap on the “Amount bar” and type in the amount that you want to withdraw.
- After you have typed in your desired amount, click on the “Withdraw” button
- Crosscheck everything again, and if it looks good, then tap on the “Confirm Button.”
- It will again ask for verification, so tap on “Send code” to get the verification code on your mobile as well as your email address.
- Now, wait for a few minutes for it to reflect in your Coinbase account.
- You can also check its progress by clicking on the “View History” option. When the orange bar changes to a green “Completed” notification, then your ETH has reached its destination successfully.
Hopefully, now you must have got a clear idea on how to transfer ETH from Binance to Coinbase. However, you must keep some points in mind while transferring Cryptocurrency from one wallet to another.
Points that should be kept in mind while transferring Cryptocurrencies from one wallet to another:
- Be aware of the daily limit:
While most Cryptocurrencies have a greater transfer limit, so that a user doesn’t encounter any problem while transferring their Crypto assets, a user should still be aware of the daily limit, to avoid any kind of inconvenience.
Moreover, you should properly verify your Binance as well as Coinbase account to transfer funds without limit.
- Regularly manage your transaction history:
To avoid any breach of Crypto Regulations, always try to manage your transaction history regularly. Plus, if you are someone who is a regular Crypto user, then managing your transaction history can give a brief idea about your previous transactions.
- Always crosscheck transaction information:
Yes, crosschecking every information before hitting on that confirm button can save you from losing your Cryptocurrency permanently.
For instance, make sure that the recipient as well as the sender’s wallet address matches, even if you copy-paste it.
- Always select the appropriate network:
Like providing accurate information, selecting an appropriate network is also a crucial part of Crypto transactions. Therefore, always try to fetch in a valid Crypto network according to the type of coin you are dealing with.
For example, here to transfer ETH, we have to use “Ethereum (ERC 20)”, which is a legitimate network for transferring Ethereum coins.
Here is a list of networks that you can refer, to before making any Cryptocurrency transaction from Binance.
- Make sure you are using a valid platform according to the currency:
Not every platform supports all Cryptocurrencies, and therefore, make sure you crosscheck the list of coins that are supported by the platform that you are using to make the transfer.
- Always transfer Crypto assets to the same coin address:
Make sure that you transfer your Crypto coin to the same Crypto coin address to avoid permanent loss. For instance, if you are transferring Ethereum from Binance to Coinbase, then make sure that both the coin addresses are for Ethereum.
- Do a test transfer:
While we want to transfer a huge amount of our Cryptocurrency to another wallet, it is always a wise decision to initially transfer a minimum amount to a new address, to make sure that the funds that will be transferred are going to the correct address. Moreover, by initiating a test transfer, you can protect yourself from a great loss.
Frequently Asked Questions on Binance and Coinbase:
How long does it take to transfer Crypto assets from Binance to Coinbase?
Usually, the transfer process takes a minimum of 10 to 30 minutes. Although due to network congestion, it can also take up to 24 hours. But, if the transfer is not being reflected even after 24 hours, then you should contact the exchange support team right away.
How much does it cost to transfer from Binance to Coinbase?
It depends upon the kind of network and Cryptocurrency that you wish to transfer, but generally, they are very low.
However, if you want to get a clear idea of the same, I insist that you check out the fees structure by Binance.
Does Coinbase support Binance Chain (BEP-2)?
Coinbase doesn’t support Binance Chain (BEP-2) currently, as it is a completely separate blockchain that is not integrated with Coinbase.
Final Remarks on “how to transfer ETH from Binance to Coinbase Wallet?”
Transferring your hard-earned Crypto coins like Ethereum to a different wallet with no knowledge can be a hectic as well as risky task. And therefore, I recommend you to follow this guide thoroughly to make your first successful Ethereum or any Crypto transfer.
