How to Transfer from Binance to Coinbase Wallet?

It is well known that Binance and Coinbase continue to be among the top crypto trading and exchange platforms in 2024. Thus, it is essential to understand how they work and what limitations they may bring, including how to transfer from Binance to Coinbase.

As a result, we’ve documented the step-by-step process and looked for the cheapest ways to transfer crypto from the largest crypto trading platform, Binance, to another, Coinbase, on reasonable and lower fees.

Read further to learn the process, and note the Binance vs. Coinbase specifications, as they play an essential role in it.

5 Simple Steps to Transfer from Binance to Coinbase

There are many ways to transfer crypto from one platform to another, and in our case, you can do it directly from the Binance exchange platform rather than from your Coinbase wallet address.

Thus, the process implies that you can transfer funds directly from Binance to your Coinbase address or from Coinbase to Binance without transferring them to your wallet and then to the other platform. This process is known as an “on-exchange” transfer.

As a result, the on-exchange transfer can be a more convenient option, as it eliminates the extra step of transferring funds to a personal wallet and may include lower transaction fees.

However, it’s important to note that doing so could expose you to the risk of security breaches because you entrust your funds’ security to the exchange. 

Let’s say you want to transfer Solana from Binance to Coinbase to make the process even easier. Of course, you can transfer many other cryptos, such as USDT, Bitcoin, and many others.

So, to do this, you will have to:

Step 1: Log into your Coinbase Account and search for a specific coin

Once logged in, go to the Coinbase account overview tab. Use the search bar to find your specific coin and whether Coinbase supports it—in our case, Solana. Also, to transfer from Binance to Coinbase, you must have an active account, which means you must, and complete the verification process.

Step 2: Click on Send & Receive and copy the coins’ address

You will notice the Send & Receive button in the upper right corner of the screen. Click on it, then click on Receive. Be sure to select Solana from the drop-down menuYou will see a QR code and the SOL address below. Click on the “Copy” button.

Step 3: Log into Binance and Go to Wallet Overview

Once you have copied the Solana, USDC address, or any other coin address, head over to the Binance website, log into your account, and go to your wallet overview. There, you can see your estimated balance and the Withdraw button.

*Please note that when transferring assets from a Binance account to a Coinbase account, be sure to use the correct cryptocurrency address. For example, using different network addresses means that if you send any crypto assets to the wrong address, your digital assets will be lost – Bitcoin sent to Bitcoin Cash, Solana to USDC address, and others.

Step 4: Complete the Withdrawal Process

This page does all the magic, meaning you can transfer cryptocurrency from Coinbase to Binance.

To do this, select Solana in the Select Coin section and paste the address you copied earlier in the Withdraw to section (the recipient’s wallet address). The network will be automatically filled in.

Select the withdrawal amount and check the withdrawal fees.

Step 5: Double-check the transfer details

Please double-check all the details and make sure you use the correct and required address before you complete the transfer process. And you’re done! The cryptocurrency transfer process should take a few minutes, as your funds will arrive in your Coinbase account in just a few minutes.

If you prefer to complete this process from your mobile device, use either the Coinbase or the Binance mobile app, as both the Binance and Coinbase app 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? The short answer is yes. 

However, Coinbase doesn’t charge fees when transferring crypto to its platform, but you still have to pay network fees. The network fees can vary depending on network congestion, but when you’re trading within the same network, the 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.

Here are the top 5 cryptocurrencies by market cap and their fees*:

*Withdrawal fees depend on the amount withdrawn or the network used. You can check out Binance’s full fee schedule for more information.

The Cheapest Way to Transfer from Binance to Coinbase

For all crypto users out there, you might be looking for ways to minimize your fees when dealing with crypto coins and tokens. Fortunately, there are some tips you can follow to do this. According to users’ past experiences, the most effective and cheap ways include:

• Choose lighter networks – Fees strongly depend on network congestion, so it’s no wonder Ethereum fees will be higher than those on Arbitrum. Thus, if you have multiple options available on Binance and Coinbase (in USDT’s case, for instance, you have the most), try using the cheapest blockchain network to pay lower network fees.
• Transfer low-fee cryptocurrencies – On crypto exchanges, fees depend on the cryptocurrency traded. You already noticed this in the table below, and it’s the same for all tokens. Thus, choose low-fee crypto to lower your costs even more. This, combined with a less crowded network, will certainly do the trick.
• Schedule your transfer according to network activity – You can always gain more data about a network by accessing a blockchain explorer. Ethereum has Etherscan, Binance Smart Chain has BscScan, and so on. Leverage them to decide when it is the best time to perform a transfer. This way, you will ensure fees are as low as possible.

How Long Does It Take to Transfer from Binance to Coinbase?

Usually, if you transfer assets from Binance and Coinbase, you should not wait longer than 30 minutes. However, if the network is crowded, it may take longer.   

Note: This depends on the network used. On Stellar network, it shouldn’t take more than a few minutes. On Bitcoin or Ethereum, it might take from 30 minutes to 2 hours. Don’t panic if your transfer hasn’t 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 in a timely manner. 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.   

Binance vs Coinbase: Specifications

FAQ

What is Coinbase?

Coinbase is a crypto exchange that was launched in 2012 by Brian Armstrong and Fred Ehrsam. Since then, it has provided seamless services to all crypto enthusiasts and became the 2nd largest crypto exchange by trading volume.

What is Binance?

Binance is another major crypto exchange platform founded in 2017. It is currently the largest crypto trading platform globally, with a trading volume estimated to be about $12 billion.

How to withdraw from Binance to Coinbase?

You can access your Binance and Coinbase accounts by logging in, copying the crypto address from Coinbase, and pasting it into your Binance account’s wallet overview after clicking on “Withdrawal.”

Can you connect Coinbase to Binance?

Yes, you can connect Coinbase to Binance or vice-versa, as long as both Binance and Coinbase support your chosen cryptocurrency. As for Binance, you can even use the Binance NFT option.

Conclusion

Transferring cryptocurrency from Binance to Coinbase is not a complicated process. However, you will need to be extremely cautious about the details of the transfer process 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 need to transfer.  

In that case, it would be better to confirm the charges before embarking on the withdrawal process. This is important whether you want to transfer crypto from Binance to Coinbase or from Coinbase to Binance.