Crypto enthusiasts have many options when it comes to platforms they can use for trading. However, not all exchanges are created equally. Some investors may want one platform more than another depending on what features appeal most in exchange – such as ease of access or security measures.
While Binance and Coinbase are among the most widely known and user-friendly selections accessible to investors, users want to transfer Binance to Coinbase and vice-versa.
Transferring assets from one platform to another is not a complicated job and is practically effortless. However, moving your funds from one crypto trading platform or exchange account into wallets under control before transferring them over is vital. This will allow you more firsthand blockchain data in case things go wrong with the system.
Step 1: Have an Active Account on Both Exchange Platforms
Before sending any cryptocurrency, users should ensure that they have an active account on the two platforms with equivalent wallets. In addition, they’ll need to make sure they can receive funds from either place and then transfer them to avoid losing whatever was sent over there first.
Coinbase and Bimay oblige the user to give more detailed identifying data to meet local laws with the regions as conditional aspects. Unverified Binance accounts will have limitations in trading activities, and withdrawals and are typically not advised except if the user wants to experience trading with no further effort.
Both exchange platforms will possibly ask you for two-factor authentication (2FA) setup for more security.
Step 2: Find Your Wallet Address
To send or receive cryptocurrencies on both Coinbase and Binance, you must first choose the wallet that will hold your crypto assets.
To begin, head over to your Coinbase Dashboard and click the assets tab, where you have an overview of your entire cryptoassets on the exchange. Then, click the asset you want to transfer to your Binance account.
Check and verify that Coinbase has the asset you want to transfer.
Once you have verified the existence of the asset you wish to transfer on Coinbase and Binance, select the “Send / Receive” button in the upper right-hand corner.
It will then open a new dialogue box with selections for sending and receiving cryptoassets.
Click the “Receive” tab. You will be given a caution from Coinbase to be sure to click on the right digital asset. Sending a cryptoasset to a wallet address for another asset will usually result in the loss of your funds.
Step 3: Send Your Assets from Binance
You should make sure you’re logged into your Binance account.
First, go to the “Fiat and Spot” section of your Binance wallet and click the option to “Withdraw.” You may be brought to the “Withdraw Fiat” tab, to change it to crypto, easily select “Withdraw Crypto” in the upper right corner.
Once again, you will be required to choose the cryptoasset equivalent to the Coinbase wallet you want to send to.
When selected, paste the Coinbase address into the withdrawal address section. And then verify the wallet address is similar to the one you copied from Coinbase. From there, you can enter the amount you want to withdraw.
Confirm the amount and then select “Withdraw.”
