Meanwhile, we invite you to explore alternative methods available for UK crypto investors to access their funds on Binance. Binance paused GBP withdrawals and deposits in May 2023 because its local banking partner, Paysafe, ended their relationship. However, this did not affect UK customers depositing and withdrawing cryptocurrency from the Binance platform. Even though things have become inconvenient since these changes, there are ways you can still use Binance and withdraw GBP to a UK bank account. Regarding fiat withdrawal fees on Binance, two factors need to be considered. The fiat currency to be withdrawn and the payment method.

How To Transfer From Coinbase To Binance

Users’ waiting times will also vary if a network has a lot of traffic. As the volume of traffic increases, so will their wait time. To learn about transaction times and the fastest crypto to withdraw, read this article. On the Binance withdrawal page, the “Withdraw” button is beside the “Fiat and Spot” page. Click on it, then find the cryptocurrency to withdraw by scrolling down on the ‘Fiat and Spot’ page.

– From the Binance withdrawal page, choose your withdrawal payment method. Depending on the chosen method, the withdrawal might take from a few minutes to a few days to process. Select the fiat currency you want to withdraw (e.g., USD, EUR). After verifying the withdrawal details, complete the necessary security verifications, such as two-factor authentication (2FA). Click [Withdraw] and select the cryptocurrency that you want to withdraw.

Users will be directed to the crypto withdrawal page if they click the withdrawal button. Choose the cryptocurrency to withdraw from the “Crypto” tab. By far, the fastest way to transfer funds is to use the Visa Direct option. With it, you can enjoy your credit or debit card funds in minutes. However, you need to remember that this option is not devoid of minuses – commissions are applied.

1. It is important to read and understand the risks of this investment which are explained in detail in this document .
2. Bitcoin (BTC) withdrawals can take between 10 to 30 minutes to confirm successfully.
3. As the volume of traffic increases, so will their wait time.
4. With it, you can enjoy your credit or debit card funds in minutes.
5. However, this did not affect UK customers depositing and withdrawing cryptocurrency from the Binance platform.
6. It is the perfect platform to invest in cryptocurrencies.

How do I transfer money from Binance to my UK bank account?

Services like Revolut and TransferWise allow users to hold and convert multiple currencies, including Euros and USD. Users can convert their GBP to Euros or another supported currency and then proceed to fund their Binance accounts. So, let’s get started and dive into our guide on withdrawing GBP from Binance for UK cryptocurrency investors.

How to withdraw crypto from Binance:

The process of confirming your identity and unlocking withdrawals on the Binance exchange is seamless. Everything is simple and intuitive, so you can do it quickly and without hindrance. In a short time you will be able to enjoy the possibility of withdrawals again. This was due to the termination of Binance’s relationship with local banking partner Paysafe, which ended on the 22nd of May, 2023. Although Binance is working on resolving this issue, UK customers can still not withdraw and deposit fiat via their platform.

Withdrawing cryptocurrencies from Binance differs from withdrawing fiat currencies from the platform. This article will present a guide from which you will learn how to withdraw money from the Binance exchange to a bank account, how much to wait for them and not only. In this example, we’re withdrawing to a Bank Card (Visa) with a transaction fee of 1.8%. However, the payment methods and fees may vary depending on the options available to you.

Binance lets users choose between crypto and fiat withdrawals. Choose the fiat currency you want to deposit and pick from one of the given bank transfer options. Binance always charges a withdrawal fee to cover transaction costs.

To finalize your withdrawal, select your linked credit card. Fiat currency can be very conveniently withdrawn from the Binance exchange. At the end, all that is left is to verify the withdrawal and click on “Confirm” and end the process by selecting the “Submit”option. If your Zen account is connected to the Binance exchange, after clicking on the ” Zen what is inventory turnover “option, select the amount you want to withdraw, and then click “Continue”. For UK-based investors seeking a crypto-friendly bank, refer to our guide on the best crypto-friendly banks in the UK to find the most suitable option for your needs.

Follow the prompts to fill out the necessary information. Specify the cryptocurrency you wish to purchase, the currency you will buy it with, and the amount you want to spend. Access your Binance account, click [Deposit], and select the [P2P Trading] option. Check out some third-party services; they might have lower fees than Binance. For Bitcoin, I recommend the Material Bitcoin cold wallet, one of the most secure and user-friendly options in the market, with a 100-year warranty. Users who successfully verify their identities can still withdraw up to 100 BTC per day, which is approximately $4 million at the current BTC rate.

If the proper verification code is inputted, Binance will prompt on the screen that the order has been submitted. In the case of the Binance exchange, you just need to log in to your account and then go to the withdrawal section. Moreover, the withdrawal feature may also be suspended when the Binance platform system detects unusual activity in your account.

The transaction will be authorized via a Google verification code forwarded to investors after they click the “Submit” button. Once investors have confirmed the security information, they can click submit. The transaction history will provide a list of their recent withdrawals. Make sure to click on the Withdraw tab on the screen that appears. Users can then choose the currency they want to withdraw and the payment method they wish to use on the Withdraw page.