Transferring cryptocurrency from your Binance account to someone else doesn’t have to be complicated. Whether the recipient is on Binance or not, there are clear, secure, and cost-effective ways to complete the transfer. In this guide, we’ll walk through the two primary methods—Binance Pay (for users within Binance) and crypto withdrawal (for external wallets or exchanges)—including step-by-step instructions, fee structures, processing times, and key safety tips.
By the end, you'll understand exactly how to move your digital assets efficiently while minimizing costs and avoiding common pitfalls.
Understanding the Two Transfer Methods
The method you choose depends entirely on whether the recipient has a Binance account.
| Feature | Binance Pay (Internal Transfer) | Crypto Withdrawal (External Transfer) |
|---|---|---|
| Use Case | Recipient is a Binance user | Recipient uses another exchange or wallet |
| Speed | Instant | 1–10 minutes (depends on network congestion) |
| Fees | Free (up to $75,000/month), then $1 per transfer | Varies by network and token (e.g., ~$1 for USDT-TRC20) |
| Blockchain Record | No (off-chain) | Yes (on-chain transaction) |
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When to Use Each Method
- Use Binance Pay when sending funds to friends, family, or business partners who also use Binance. It’s fast, free (within limits), and secure.
- Use Withdrawal when sending crypto to someone without a Binance account—such as to a hardware wallet, another exchange like Coinbase, or a decentralized app (dApp).
Method 1: Sending Crypto via Binance Pay (Internal Transfer)
This is the fastest and most cost-efficient way to send crypto if both you and the recipient are Binance users.
Step-by-Step Guide
Step 1: Get the Recipient’s Binance ID
Ask the person you're sending funds to provide their Binance User ID or registered email address. They can find it by:
- Opening the Binance app
- Tapping the profile icon (top right)
- Scrolling down to "User ID"
They should only share this information with trusted contacts.
Step 2: Initiate the Transfer
Now, follow these steps on your own app:
- Tap the profile icon in the top-right corner.
- Select “Transfer” > “To Binance User”.
- Enter the recipient’s User ID or email.
- Choose the crypto asset and amount.
- Confirm details and tap “Send”.
✅ The transfer completes instantly.
✅ No blockchain fee is charged.
✅ Both parties receive a notification.
Step 3: Check Transfer History
After sending:
- Go to Transfer > Transfer History to view past transactions.
- The recipient will see the balance reflected immediately in their Spot Wallet.
⚠️ Important: While convenient, Binance Pay transfers are off-chain, meaning they aren’t recorded on the public blockchain. For full transparency or audit purposes, consider using on-chain withdrawals.
Method 2: Withdrawing Crypto to an External Address
If the recipient isn’t on Binance, you’ll need to withdraw directly to their wallet or exchange using blockchain networks.
Key Safety Tips Before You Start
- ✅ Always confirm the correct network (e.g., TRC20, ERC20, BEP20).
- ❌ Never send funds using a different network than what the recipient supports—this may result in permanent loss.
- 💡 If sending USDT, TRC20 is typically cheapest (~$1 fee).
- 🔍 Double-check the receiving address—transactions are irreversible.
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Step-by-Step Withdrawal Process
Step 1: Obtain Recipient’s Wallet Address
Ask them to provide:
- The exact cryptocurrency (e.g., USDT)
- The supported network (e.g., TRC20)
- Their wallet address
For example: “Send USDT via TRC20 network to address TXXXXXX…”
Step 2: Initiate Withdrawal on Binance
- Open the Binance app and go to Wallet > Spot Account.
- Tap “Withdraw”.
- Select the cryptocurrency (e.g., USDT).
- Choose the network (e.g., TRC20).
- Paste the recipient’s address.
- Enter the amount.
- Complete 2FA verification (SMS or authenticator app).
Step 3: Monitor Transaction Status
- Processing usually takes under 5 minutes, depending on network traffic.
- You can track progress under Withdrawal History.
- The recipient can verify receipt using a blockchain explorer like Tronscan or Etherscan.
💬 Pro Tip: If both sender and receiver use Binance but one inputs an address instead of using Binance Pay, Binance may refund the withdrawal fee, making it effectively free.
Frequently Asked Questions (FAQ)
Can I send fiat currency from Binance to someone else?
No. Binance only allows transfers of cryptocurrencies, not fiat money like USD or EUR. To send fiat, you’d need to use a bank transfer, P2P trading, or a supported payment service.
Are there fees when transferring from Binance?
Yes, but it depends:
- Binance Pay: Free for up to $75,000 worth of transfers per month. After that, $1 per transaction.
Withdrawals: Fees vary by coin and network. For example:
- USDT-TRC20: ~$1
- ETH on Ethereum mainnet: $5–$50+ during peak times
Always check current rates in-app before confirming.
How long does a transfer take?
- Binance Pay: Instant
- Withdrawals: Typically 1–10 minutes, depending on blockchain congestion
Delays are rare but possible during high network usage.
Is it safe to send crypto via Binance?
Yes—Binance employs strong security measures including two-factor authentication (2FA), anti-phishing codes, and withdrawal address whitelisting. However, always double-check addresses and never share your login credentials.
What happens if I send crypto to the wrong address?
Blockchain transactions are irreversible. If you send funds to an incorrect or unsupported address, recovery is unlikely. Always test with a small amount first when dealing with new addresses.
Can I cancel a withdrawal after initiating it?
Once confirmed, withdrawals cannot be canceled. However, if the transaction hasn’t been broadcast yet (rare), you might contact support immediately—but success isn't guaranteed.
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Final Thoughts
Whether you're splitting profits with a trading partner or sending crypto gifts to a friend, knowing how to transfer funds correctly saves time, money, and stress. Use Binance Pay for quick internal transfers and withdrawals for off-platform destinations—with careful attention to network compatibility and address accuracy.
Remember: Security comes first. Always verify details before hitting “Send,” especially when dealing with large amounts.
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