How to transfer cryptos from Binance to Coinbase and related fees
Do you have cryptos on Binance and do you want to transfer some to Coinbase? We will show you how to do that by keeping transfer fees low.
Get your Address on Coinbase
First step is to click the white “Send/Receive” button (Invia/Ricevi), after you did the login in to Coinbase or you created a new account.
Now you need to click Receive (Ricevi)
and choose the correct crypto. We suggest to select Litecoin
You need to use the showed address in Binance later.
Please note: if you are not sure that a specific transition is supported in Coinbase, please ask to the support team. We are not responsible for lost or incorrect transition.
Convert coins to Litecoin
After login in to Binance, you first need to visit Wallet
and check which crypto you own
If you try to transfer USDT, you get such panel
but
at this time, Coinbase only supports USDT on the Ethereum blockchain (ERC-20). Do not send USDT on any other blockchain to Coinbase. (Source)
So you first need to convert the cryptos under Trade/Convert (or by clicking here), if you want to avoid to pay 10$ fee! (we never tried to transfer USDT)
After that you select the cryptos, by choosing an amount of at least 20USDT. In our case we selected Litecoin, but you can do the same with Ethereum, Bitcoin (we will show you all that later).
You will get a preview
and a confirmation
without need to pay conversion fees.
More information on Trade, Swap, or Convert: 3 Ways to Buy Crypto for Binance Launchpool
Transfer Litecoin to Coinbase
After that you revisit your wallet
You click withdraw and you paste the previous address you got on Coinbase. Please be sure to paste the correct address. You can do this step only once 2FA is active.
and you confirm all that. You need to approve it via SMS/E-Mail first.
After 30 minutes or so you get a confirmation
In the meanwhile you get a Coinbase notification via E-Mail too
You will receive the money only after different approvations (in our case 12).
Once all is done you get the money in Coinbase (we got the money around 22.00–22.30, so 2 hours later).
If you need to convert the coins back, you can use the function Convert in Coinbase (no fee)
Transfer coins using Ethereum or Bitcoin
You can do all that with Ethereum (ETH) too, the prices are
where you need to choose ERC20. Some Reddit users reports problem if you choose BEP20, so we don’t suggest it at all. We never tried to use it for the same reason, remember the Binance suggestion:
Make sure to select the correct network. If your external wallet/exchange provides you an ERC20 address (Ethereum blockchain), you must select the ERC20 option before making the withdrawal. DO NOT select the cheapest fee option. You must select the network that is compatible with the external platform. If you select the wrong network, you will lose your funds. (Source)
Please visit Unsupported Crypto Recovery and BEP20 Definition to get more information about BEP20. If you want to try BEP20, ask Coinbase first.
For Bitcoin (BTC) you need to repeat the same, by converting the money to BTC (or you can use it directly, if you already own BTC coins) and starting a withdraw, where you paste the address you got from Coinbase (in the same way like before, you simply need to choose Bitcoin instead of Litecoin)
Binance will automatically select the correct network
if you try to change network you will see this panel
but keep in mind that you need to send at least 0.0011BTC
To transfer 0.0027BTC the fee is
with is crazy expensive (17$ with a 30k BTC or 34$ with a 60k BTC)
More about Binance fee here. Official How to Withdraw from Binance tutorial available here.
In conclusion we suggest to transfer all coins using Litecoin (LTC), which offers low transfer fees.
You can read more about this topic on How do I send and receive crypto through Wallet?, Does Coinbase support Binance Chain (BEP-2)? and How do I move assets between my Wallet and my Coinbase.com account?
Do you want to track, analyse and compare coins in a faster way. Check our new released website. We will release Telegram Channels and Discord Server soon. For a better CryptoLifestyle.
