Moving money from the other transaction and backup is like many people.
Each coin will have its own deposit network. For example, with Bitcoin, there will be networks such as BTC, BEP2, BEP20 (BSC), ERC20.
To transfer coins, you need to transfer them to the correct network and to the correct recipient’s wallet address. If it is wrong, it is difficult to find it. Therefore, you need to be very careful when doing this.
Table of Contents:
How to transfer coins from another exchange to Binance
Trades executed on the Binance exchange
Click on Wallet select Fiat and Spot
Then press Deposit
In the Deposit Crypto window, select the coin you wish to receive and the network of the chosen coin.
Copy the address or use your phone to scan the QR code to get the coin wallet address.
Operations performed on the exchange to transfer coins to Binance.
Similar to Binance, you need to access the wallet on the exchange that contains the coin you want to transfer.
- Click Withdraw
- Enter the number of coins
- Address to receive the coin (Copied above)
- Click Confirm
Note: Check exactly that the money transfer networks of the 2 exchanges must match.
After about 1-2 minutes (or faster), you will receive coins in your Binance wallet.
How to transfer coins from The Binance Spot Wallet to another Exchange
When depositing coins into the Binance wallet, click Wallet, select Fiat and Spot, then click Withdraw.
- Enter the wallet address to receive the coin.
- Select the network to transfer the coins to (Match the receiving wallet network).
Finally, click “Withdrawal” to make the transaction. Each coin will have a minimum amount requirement. You need to have enough coins to perform deposit/withdrawal transactions and transfer coins from one exchange to another.
Note: Some platforms will ask you to fill out the MEMO corresponding to the platform. If yes, please fill in the MEMO box; otherwise, skip.
Conclusion
So you know how to transfer money from another crypto exchange to Binance and vice versa. Transferring coins from one exchange to another makes it more convenient for you to trade. Each exchange has a different exchange rate from time to time. Choose the broker with the best exchange rate to trade. However, it would be helpful if you also calculated the cost of transferring coins between exchanges.
