How to Withdraw Money From Binance - Zengo (2024)

Binance is a cryptocurrency exchange founded in 2017 by Changpeng Zhao where users can trade more than 600 cryptocurrencies, NFTs, and participate in staking and yield farming services. Binance has its own native token called BNB and BEP-20 blockchain, on which many cryptocurrency projects are built.

The main difference between Binance and Zengo is that Zengo is a next-gen non-custodial wallet that uses biometric facial recognition to secure your private keys, whilst Binance is primarily a cryptocurrency exchange that also provides custodial wallet services to its users.

Another key difference is that Zengo is a Web3 gateway app that allows users to buy crypto with fiat, play Metaverse games, store crypto, and trade NFTs, all from the same platform.

Binance charges withdrawal fees on a per-coin basis, which means that the withdrawal fees you end up paying depend on the cryptocurrency withdrawn. Apart from Binance’s withdrawal fees, standard miner fees apply. Fiat withdrawals are subject to withdrawal fees of 1,90%.

Users who passed Binance’s basic account verification can withdraw up to 0,06 BTC per day, while users that have gone through Binance’s complete identity verification process can withdraw up to 100 BTC per day. These withdrawal limits refresh on a 24-hour rolling basis.

In most cases, Binance withdrawal requests are processed within 5 minutes. However, some tokens and transactions can take up to 24 hours to process. Fiat withdrawals to bank accounts can take anywhere from 1 to 5 business days.

Although Binance is the world’s largest cryptocurrency exchange by trading volume and user count, there are some problems that can occur when trying to withdraw both fiat and cryptocurrencies.

For instance, your bank may decline deposits from Binance as it is an unregulated financial institution. As for cryptocurrency withdrawals, you may accidentally enter the wrong receiving address.

To withdraw crypto to fiat on Binance, you have to make use of the Binance Cash Gateway. Here you can convert BTC and other cryptocurrencies to USD, EUR, and other supported fiat currencies. Additionally, you can withdraw crypto to fiat on Binance via its P2P Trading platform.

You can also move your funds to Zengo’s non-custodial wallet and withdraw your crypto when you feel the time is right.

How to Withdraw Money From Binance - Zengo (2024)

FAQs

How do I get my money out of Zengo? ›

How to Withdraw Crypto From Zengo's Wallet​​ Zengo makes it easy to withdraw funds to another wallet or cash out in fiat. To withdraw to another wallet, simply open the app, select “Actions,” and tap the “Send” button. Next, decide whichever cryptocurrency you want to withdraw and specify the amount.

Does Zengo work with Binance? ›

How to Trade Bitcoin (BTC) to Binance Coin (BNB) with Zengo? Zengo offers its users a safe and secure platform to trade BTC for BNB. To begin, download the Zengo app from the Google Play Store or Apple App Store. As soon as you have created your account and completed the onboarding process, you can start trading.

How do I get my money out of Binance? ›

Log in to Binance: Access your Binance account. Go to Wallet: From the menu, select “Wallet.” Click on “Withdraw”: Select “Withdraw” from the menu. Select “Withdraw Fiat”: Choose “Withdraw Fiat” at this step.

How do I transfer money from Zengo? ›

To send crypto assets from your Zengo wallet, you can either swipe right on an asset in the Home screen, or you can tap an asset and tap the “Send” button. Enter the amount you want to send in your preferred currency.

How to pull money out of Nexo? ›

1. Navigate to your 'Dashboard' tab and click 'Withdraw' in the top-right corner of the screen. 2. Select the asset you want to withdraw to your Savings Wallet.

How to link Zen to Binance? ›

To connect ZEN with Binance:
  1. Start in the Binance app or website. Select "Deposit" > "Bank Deposit" and then one of the supported currencies (EUR, PLN, RON, HUF, CZK): ...
  2. Select ZEN as a payment method and then enter the amount you want to top up your Binance account: ...
  3. Confirm the transaction in the ZEN.COM app.
Apr 9, 2024

Can I withdraw money from Binance to my card? ›

Yes, it is possible to withdraw funds from Binance using a bank card. While Binance currently does not offer direct fiat withdrawals in USD or GBP, users can still withdraw other fiat currencies such as EUR using bank account transfers or bank card withdrawals.

How do I cash out on Zen go? ›

Zengo also enables you to withdraw your crypto as fiat currency, with USD, GBP, and EUR options. If you wish, you can do this by tapping on the “Actions” tab on the main menu. Then, click on “Sell,” pick a crypto you want to withdraw and a fiat currency you wish to receive, then enter the amount before confirming.

What is the official wallet for Binance? ›

Trust Wallet is Binance's official cryptocurrency wallet and provides support for 65 blockchains and access to over 4.5 million crypto assets.

What is the minimum withdrawal limit on Binance? ›

The minimum withdrawal limit for a crypto wallet on Binance varies depending on the specific cryptocurrency. For example, the minimum withdrawal for Bitcoin is 0.001 BTC, while the minimum withdrawal for Ethereum is 0.01 ETH. Other cryptocurrencies have different minimum withdrawal limits as well.

Why is Binance not allowing me to withdraw? ›

Occasionally, we may need to lock your account if you have made recent changes to it. For example, if you have reached out to our team to reset your two-factor authentication, or you have changed your password, we will temporarily disable your ability to withdraw.

How do I convert my Binance to cash? ›

To get started, you need to have a Binance account on and complete KYC verification.
  1. Set up your ad. Choose your preferred payment method, currency and the amount of bitcoin you are planning to sell.
  2. Place an order. ...
  3. Confirm the payment. ...
  4. Release your crypto.

How to withdraw money from Binance to PayPal? ›

Log into your Binance account. Select on Withdraw tab. Click on the Fiat tab, and choose the currency you want to transfer to PayPal. Enter the withdrawal information, click on continue to proceed further, including details of the recipient wallet.

How do you get paid on Zengo? ›

Once you get your account and routing number, you're instantly eligible to get paid in crypto. Set up your crypto paycheck: Enter how much of your paycheck you'd like to receive in crypto, and select from a basket of cryptocurrencies.

Why can't I withdraw Nexo? ›

Withdrawal issues usually occur when a wrong wallet address is entered or when Nexo's security measures halt a transaction for some reason. Always double-check all details before initiating a withdrawal on Nexo or any other platform. If you enter the wrong info, your assets could disappear for good.

How do I withdraw money from my crypto wallet to my bank account? ›

The most straightforward way to withdraw crypto to a bank account is by selling it through a cryptocurrency exchange, peer-to-peer trading platform, or fintech company. This way, you convert the selected crypto to fiat and send money to your bank account.

How to withdraw money from wallet? ›

Here is a step-by-step guide on how to transfer Paytm wallet money to a bank account: Step 1: Open the Paytm app on your mobile device. Step 2: Scroll down to the 'My Paytm' section and click the 'Paytm Wallet' tab. Step 3: Select the 'Transfer to Bank' option on the next page.

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