THIS is how to transfer from Coinbase to Binance [2022] (2024)

FAQs

Can I transfer from Coinbase to Binance? ›

As long as Binance supports the cryptocurrency you wish to transfer, you can transfer cryptocurrency from Coinbase to Binance. With Binance NFT, you can even deposit NFTs into your Binance account.

From a web browser, select your cash balance under Assets. On the Cash out tab, enter the amount you want to cash out and then click Continue. Choose your cash out destination and then click Continue. Click Cash out now to complete your transfer.

The process to withdraw funds from Coinbase is relatively straightforward and can be completed within a few minutes using the desktop or mobile wallet version. Unlike traditional payment processors that charge substantial percentages in fees, transferring crypto from Coinbase to Binance does not incur exchange fees.

Coinbase instant withdrawal is the cheapest way to transfer between coinbase to binance. In order to receive a certain amount of cryptocurrencies, it is also cheap to send using other coins that have low sending fees. Coinbase instant withdrawal is the cheapest way to transfer between coinbase to binance.

Since your local currency is stored within your Coinbase account, all buys and sells occur instantly. Cashing out to your bank account via SEPA transfer generally takes 1-2 business days. Cashout by wire should complete within one business day.

For US customers, Coinbase uses the ACH bank transfer system for transfers to your bank account. The ACH bank transfer system typically takes 3-5 business days to complete after initiating a sell or withdrawal. Coinbase will deduct the balance from your source of funds and begin the bank transfer immediately.

For security reasons, you won't be able to immediately cash out your local currency using a linked bank account or send crypto purchased with such funds off of Coinbase (we call this “cashout availability”).

There is a 1% fee to convert and withdraw your crypto to cash in addition to standard network fees. A network fee is necessary in order to have your transaction processed by the decentralized cryptocurrency network.

In comparison to Binance, Coinbase offers more features for U.S. residents but fewer options for international traders. The features include: A secure, standalone digital hot wallet that you can use with Coinbase and other exchanges. The ability to withdraw funds to your PayPal account.

Transaction fees

Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions.

Why can't i withdraw from Coinbase? ›

If you are unable to sell or withdraw from Coinbase, it could be due to one of a few reasons: There are restrictions in your region. You are a new account holder. You haven't completed the verification.

In order to request reimbursem*nt under the Coinbase Account Protection, please contact us via the Coinbase Help Center to lock your Coinbase Account and report that someone gained unauthorized access to your Coinbase account and withdrew your funds without your permission.

Binance.US has a top fee of 0.10%. Plus, by holding BNB in your account, you receive a discount. Coinbase has a flat fee based on how large the purchase is. For example, you might pay $0.99 on a transaction amount of $10 or less, but $2.99 on a transaction amount between $50 and $200.

These fees can be avoided if you withdraw your funds via Coinbase Pro. If you go into the 'My Wallets' of Coinbase, you can transfer funds from Coinbase to Coinbase Pro then withdraw from Coinbase Pro, without having to worry about fees.

Margin or Spread Fees

The spread allows Coinbase to temporarily lock in a price for trade execution while you review the transaction details before submitting your transaction. This spread applies to all Cryptocurrency transactions on the Coinbase platform and while using Coinbase Card.

Analysing this metric in this Binance vs Coinbase comparison, it's clear that Binance has the lowest trading fee percentage of 0.10%, while the second place goes to Coinbase with a fee of Up to 3.99%.

Binance charges an additional 3.75% for debit card transfers (Binance.US doesn't allow credit card purchases). There are no fees for cash deposits or withdrawals by ACH bank transfers. Bank wire deposits are free, and wire withdrawals cost $10 to $15.

For security reasons, you will not be able to immediately withdraw fiat deposited using a linked bank account or send crypto purchased with such funds off of Coinbase Pro (we call this “withdrawal availability”).

This typically means on servers that are not connected to the internet. For more information you can submit a request to Coinbase. The best place to buy and store Bitcoin will keep a small percentage of your assets in a hot wallet, meaning on servers connected to the internet.

Coinbase uses the ACH bank transfer system for payments with your bank account. The ACH bank transfer system typically takes 3-5 business days to complete after initiating a purchase.

Why is Coinbase holding my funds? ›

If you're seeing Funds on Hold, it means that these funds are subject to a Coinbase cashout hold and cannot be transferred to Coinbase Pro yet. Although you can use these funds to buy or sell on Coinbase.com (not on Coinbase Pro), transfers or cashouts are restricted until the hold period is done.

The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc.

For US customers, if you're looking to deposit more than the maximum $25,000 a day ACH limit, one option is to complete a wire transfer from your bank account to your Coinbase account. You can view instructions for how to wire funds here.

Withdrawals of both cryptocurrency and fiat currency are limited. Coinbase Pro account holders have a daily withdrawal limit of $50,000/day. This amount applies across all currencies (for example, you can withdraw up to $50,000 worth of ETH per day).

For US customers, Coinbase uses the ACH bank transfer system for payments with your bank account. The ACH bank transfer system typically takes 3-5 business days* to complete after initiating a purchase.

Coinbase provides a service similar to Paypal. People use it to send and receive money. You are seeing a charge on your statement because someone connected your bank account on our website and used it to purchase bitcoin (a digital currency).

Why are Coinbase Wallet Miner Fees so High? The main reason bitcoin mining fees are high is supply and demand. The bitcoin block size is 1MB, meaning that miners can only confirm 1MB of transactions per block (one block every ten minutes).

Binance is one of the safer exchanges compared to others. So if you're actively trading crypto and need to keep it on an exchange, Binance is a pretty secure choice. However, if you're holding large amounts of crypto long term, a private hardware wallet may be a better choice than keeping it on an exchange.

We have picked Gemini as the crypto exchange with the best security because it has robust security protocols, insures user funds, and is SOC 2-certified.

Cashing out Bitcoin is best done via a third-party broker, over-the-counter trading, or on a third-party trading platform. You can also trade it peer-to-peer. Cashing out a massive amount of Bitcoin comes with limited restrictions on daily withdrawals.

Why do banks block Coinbase? ›

Banks Block Payments to Crypto Exchange Over Fraud Worries.

Few crypto-trading platforms are as popular as Coinbase. But like all other trading and investing platforms, it has its risks. Case in point: At least 6,000 Coinbase users were hacked and had funds stolen from their accounts in 2021, the platform disclosed to customers.

Is It Safe to Link My Bank Account to It? Yes! Coinbase protects all private information shared by its clients in much the same way as banks do.

However, our policy does not cover any losses resulting from unauthorized access to your personal Coinbase or Coinbase Pro account(s) due to a breach or loss of your credentials. It is your responsibility to use a strong password and maintain control of all login credentials you use to access Coinbase and Coinbase Pro.

Coinbase.com stores your crypto for you after you buy it. You do not need a Coinbase.com account to use Coinbase Wallet. Coinbase Wallet is a self-custody wallet. The private keys (that represent ownership of the crypto) are stored directly on your device and not within a centralized exchange like Coinbase.com.

At Coinbase, we're committed to security by using industry best practices and storing up to 97% of bitcoins in encrypted, geographically separated, offline storage. To further protect our customers, all of the bitcoins stored in online computers are insured.

Binance's platform is easy to use, but the sheer number of choices can be overwhelming to a new user. Binance is a better fit for people familiar with cryptocurrency lingo and investing options, whereas Coinbase is built for convenient, easy trading. Both exchanges provide mobile apps with varying functionalities.

If you are looking to trade high volumes of different cryptocurrencies quickly, then Binance is the better platform. If you are looking to invest slowly in a few cryptocurrencies, then Coinbase is better.

Coinbase is best for buy and hold investors who want to purchase a currency and hold it for the long term. Binance offers much lower fees per transaction, as well as incentivizing high-volume traders with their fee structure. While they use a maker-taker fee structure, both the maker and taker fees are identical.

Coinbase is the winner here as it's more accessible to beginning traders, offers a rewards debit card, displays clear security measures, and doesn't have the legal issues of Binance.US.

What is the disadvantage of Binance? ›

Not available in four U.S. states. Fewer crypto-to-crypto currency pairs than global Binance site. Smaller selection than global Binance platform.

Fortunately, you can buy Binance USD on Coinbase's centralized exchange. It's quick, secure, and easy.

The results are clear: All the way up and down the scale, Binance charges less than Coinbase, whether you're doing small volume or large volume. On top of that, Binance will cut your fees a further 25 percent if you use BNB, its own in-house coin, to pay for trading fees.

Binance is one of the safer exchanges compared to others. So if you're actively trading crypto and need to keep it on an exchange, Binance is a pretty secure choice. However, if you're holding large amounts of crypto long term, a private hardware wallet may be a better choice than keeping it on an exchange.

Analysing this metric in this Binance vs Coinbase comparison, it's clear that Binance has the lowest trading fee percentage of 0.10%, while the second place goes to Coinbase with a fee of Up to 3.99%.

As mentioned previously, it is not wise to keep large amounts of cryptocurrency in any hot wallet, especially an exchange account. Instead, it is suggested that you withdraw the majority of funds to your own personal "cold" wallet (explained below). Exchange accounts include Coinbase, Gemini, Binance, and many others.

Binance.US is ranked among the top exchanges for staking in Forbes Advisor's best staking platforms. In addition, Binance.US carries high-security rankings as well as ultra-low fees. In fact, some Bitcoin (BTC) pairs can be traded at no fee whatsoever.

Changpeng Zhao, known as “CZ,” is the founder and chief executive officer (CEO) of Binance, the world's largest cryptocurrency exchange. Zhao founded Binance in 2017 and quickly increased daily trading volume to more than $20 billion.

Other important factors to consider when researching alternatives to Binance include security and customer service. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Binance, including Coinbase Exchange, UPHOLD, Poloniex, and LocalBitcoins.