Binance was established in 2017 and is one of the largest cryptocurrency exchanges in the world. It is a platform that allows users to trade over 100 cryptocurrencies with each other. Binance offers a wide range of features such as spot trading, futures trading, margin trading, staking, and decentralized finance (DeFi) products. Users can deposit fiat currency, such as US dollars or euros, or they can deposit cryptocurrency to trade on the platform.
Binance has its own native cryptocurrency called Binance Coin (BNB), which can be used to pay for trading fees and access certain features on the platform. Additionally, Binance has its own blockchain, Binance Chain, and its own smart contract platform, Binance Smart Chain.
Zengo is a non-custodial cryptocurrency wallet that allows users to securely store and manage various cryptocurrencies. Unlike traditional custodial wallets, where a third-party holds the user’s private keys and controls their funds, Zengo utilizes advanced cryptography to allow users to hold and manage their own private keys. If you are looking for how to withdraw from Binance and deposit crypto in ZenGo wallet then follow the steps.
To withdraw cryptocurrency from Binance and deposit it into ZenGo wallet, you can follow these general steps:
- Login to your Binance account.
- Navigate to the “Wallet” tab and select “Withdraw.”
- Choose the cryptocurrency you want to withdraw from Binance and enter the withdrawal amount.
- Enter your ZenGo wallet address in the “Recipient Address” field.
- Review and confirm the withdrawal details, then click “Submit.”
- Binance may send a confirmation email or SMS to verify the withdrawal request. Follow the instructions in the email or SMS to confirm the withdrawal.
- Wait for the withdrawal to process. Depending on the cryptocurrency and network congestion, it may take some time for the transaction to complete.
- Once the withdrawal is complete, check your ZenGo wallet balance to confirm that the funds have arrived.
Before withdrawing cryptocurrency from Binance, make sure that you have enough funds in your account and that you have set up the correct wallet address for the cryptocurrency you want to withdraw. Also, be aware of the network fees that Binance charges for withdrawal.
What are withdrawal fees on Binance?
Withdrawal fees on Binance vary depending on the cryptocurrency being withdrawn. Binance provides a fee schedule on their website which lists the withdrawal fees for each cryptocurrency.
As an example, at the time of writing, the withdrawal fees for Bitcoin (BTC) on Binance are as follows:
- 0.0005 BTC for a standard withdrawal [minimum withdrawal amount – 0.001 BTC]
- 0.00001 BTC for a high-priority withdrawal
These fees are subject to change and may be different for other cryptocurrencies. It’s important to check the fee schedule on the Binance website before making a withdrawal to ensure that you are aware of the fees that will be charged.
Binance has become popular due to its low trading fees, high liquidity, and user-friendly interface. It has a reputation for being a reliable and secure exchange, with a focus on providing a wide range of cryptocurrency trading options to its users.
Overall, Binance offers a comprehensive cryptocurrency trading platform that is popular among both novice and experienced traders.
