How to Send Crypto from Binance Exchange to Wallet
45sClear step-by-step tutorial that meets a high-demand need for crypto beginners.
▶ Play ClipAI Summary
This video provides a step-by-step guide on transferring cryptocurrency between Binance exchange and the Binance wallet app. The presenter demonstrates using BNB on the BNB Smart Chain, explaining the importance of gas fees and how to ensure you have the correct gas coin for transactions.
Chapters
[00:01]
Accessing Binance Wallet
Open the Binance app and switch between the exchange and wallet sections using the tabs at the top. The wallet can be set up quickly if not already done.
[00:28]
Receiving Crypto in Wallet
In the wallet, click the yellow 'Receive' button, then select 'Transfer from Binance exchange'. Choose the blockchain and asset; the presenter uses BNB Smart Chain and BNB coin.
[00:53]
Understanding Gas Fees
Every blockchain transaction requires a fee paid in the network's gas coin. For BNB Smart Chain, that's BNB; for Ethereum, ETH; for Solana, SOL. You must have the gas coin to pay for transfers.
[01:17]
Selecting Network and Asset
Choose the asset (BNB) and the network (BNB Smart Chain). The address auto-populates, and you can enter the amount to transfer from the exchange to the wallet.
[01:44]
Confirming Transfer
Press 'Transfer' and confirm the transaction. After success, the wallet balance increases, and you can view the asset in the 'Assets' section.
[02:10]
Sending Back to Exchange
To send crypto back to the exchange, click on the asset or the 'Transfer' button, select 'Transfer to Binance exchange', choose the asset, and confirm. The address is auto-populated.
[02:38]
Gas Fee Requirement
If you lack the gas coin on the network, you cannot send the transfer. You must deposit some gas coin to cover transaction fees. The presenter uses BNB to pay fees and sends BNB.
[03:04]
Final Confirmation
The app shows the estimated fee. Press 'Confirm' to send. Ensure you have the gas coin, otherwise the transfer will fail.
Transferring crypto between Binance exchange and Binance wallet is straightforward, but you must always have the correct gas coin on the network to pay transaction fees. The process is quick and secure with auto-populated addresses.
Mentioned in this Video
Tutorial Checklist
Study Flashcards (4)
What is the gas coin for the BNB Smart Chain?
easy
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What is the gas coin for the BNB Smart Chain?
easy
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BNB coin
00:53
Why do you need the gas coin on the network you are using?
easy
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Why do you need the gas coin on the network you are using?
easy
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To pay for transaction fees.
02:38
What happens if you don't have the gas coin on the network?
medium
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What happens if you don't have the gas coin on the network?
medium
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You cannot send the transfer; you must deposit some gas coin first.
02:38
What does the 'Max' option do when sending crypto?
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What does the 'Max' option do when sending crypto?
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It sends the maximum amount minus any transaction fee.
02:52
💡 Key Takeaways
💡
Gas fees explained
Clearly explains the concept of gas fees and the need for the correct gas coin, a fundamental crypto concept.
00:53
🔧
Gas coin requirement
Highlights a common pitfall: without the gas coin, transfers fail, which is crucial for beginners.
02:38Full Transcript
[00:01] exchange, and Binance wallet. If you've got the app on your phone, up at the top exchange, one says wallet. So, we can flick between them. And if you don't link below. If you sign up by that link, I think you get a bonus. And I'll leave
[00:15] everything to do with Binance down in the description, too. What we need to do is flick over to the wallet section. So, up at the top, just click wallet. If you go through that process. It's like 2 seconds. You can set up the wallet, no
[00:28] to do that, I'll leave that video in the description, as well. But now we've got corner, there's a yellow button called receive here. So, we'll click that. Transfer from Binance exchange is what you want. Now, I'm going to be using a
[00:41] blockchain here. So, we have to figure out which blockchain that we're using and what assets you want to send over. I'll show you with the BNB smart chain. That's Binance's chain. So, I'll send over some BNB coin.
[00:53] Now, when you use a blockchain, you have to pay for fees with every transaction. or anything like that, you have to pay a fee. Now, I'm going to be using the Binance smart chain, and so I'll be sending over BNB coin, which is the gas
[01:05] coin on that network. If you're using Ethereum, you'll use ETH. If you're using Solana, you'll use SOL, and so on. Whichever network that you're using, that network. Send it over and you can pay for
[01:17] transaction fees with that coin. So, I'm going to click BNB coin here. And I'm going to use the BNB chain. That's where I want it. This other don't want to use that chain. I'm going to use BNB smart chain. Like this, down
[01:29] on the bottom, press continue. And it auto-populates my address. That's going to take the crypto out of my Binance centralized exchange. Network is Let's choose an amount to send over, like this. I'm going to press transfer.
[01:44] It's just going to confirm everything. Do you want to send it? Press confirm. Binance exchange to the Binance wallet. After the transaction is successful, you now increase with the amount that you sent over. so that has gone up. Bottom
[01:58] right, if you click your assets, you can see here I sent some BNB coin. Now we want to send this back into Binance centralized exchange. So you can click on the asset itself, or in your assets up at the top left-hand corner it says
[02:10] going to transfer to the Binance exchange this time. It says what asset do you want to send over? So I'm going to send some BNB. here, I'm actually using a wallet on the Binance Smart Chain. When you send a
[02:25] transaction, you have to pay a gas fee. If you don't have any of the gas coin on the network that you're using, you won't be able to send the transfer. So for something on a chain, and you don't have any of the gas coin on that chain, you
[02:38] What you'll have to do is actually deposit some of the gas coin so that you can pay for transaction fees to send the coin over. So because I'm using BNB I'm paying for the fees in BNB coin and sending that coin as well. It's from my
[02:52] wallet, it's to my Binance centralized exchange. All of the addresses are auto-populated. BNB coin is the token that I'm sending. I can choose max here, and it's going to send the maximum amount minus any transaction fee. Press
[03:04] Notice it will tell you what the estimated fee will be and everything like that. If you're happy, press confirm, and that will send it from your exchange. But you need the gas coin on the network that you're using, otherwise
[03:17] leave some other helpful videos on Binance and Binance wallet and how to below. Sign up link to Binance as well down there if you want a deposit when G, cheers for watching, and I'll see you in the next one.
