How To Transfer From Gemini To Binance

Last updated on June 6th, 2021

You may have bought some crypto on Gemini’s platform, and are considering sending it to Binance.

This may be because you are able to trade a lot more currencies on Binance’s platform.

But how do you go about doing it?

Here’s what you need to know:

How to transfer crypto from Gemini to Binance

Here are 8 steps you’ll need to transfer your crypto from Gemini to Binance:

1. Go to ‘Wallet → Fiat and Spot’ on Binance
2. Select the cryptocurrency you want to deposit on Binance
3. Obtain the deposit address of your cryptocurrency on Binance
4. Go to Gemini and select the cryptocurrency
5. Select ‘Withdraw’ to send your currency to another wallet
6. Select the amount of currency you wish to withdraw
7. Paste the deposit address from Binance as the destination address
8. Review the withdrawal before confirming the transaction

#1 Go to ‘Wallet → Fiat and Spot’ on Binance

First, you’ll need to go to your ‘Spot Wallet‘ to deposit your crypto into.

The Spot Wallet allows you to trade your crypto for another crypto.

You can do this by going to ‘Wallet → Fiat and Spot’.

#2 Select the cryptocurrency you want to deposit on Binance

You will see all of the available currencies on Binance’s platform.

To find the cryptocurrency that you wish to deposit, you can use the ‘Search Coin‘ function.

#3 Obtain the deposit address of your cryptocurrency on Binance

After selecting the currency, you will see the address that you’ll need to deposit your crypto to.

For some coins, they may be quite a few networks that you can deposit to, for the same currency.

For example, you can deposit BTC into Binance via:

1. BTC
2. BEP2
3. BEP20 (BSC)
4. ERC20
5. BTC(SegWit)

BEP2 and BEP20 allow you to deposit and withdraw crypto on the Binance Smart Chain.

If you are just depositing crypto from Gemini, then it should not be a problem. Binance will usually select the default network that you can transfer your crypto to.

With the wallet address, you can use 2 methods to obtain the wallet address:

1. Copy your Wallet Address to your clipboard
2. Scan the QR code

If you are copying the wallet address, it may be best for you to double check the address before sending!

#3 Go to Gemini and select the cryptocurrency

Once you’ve obtained the deposit address, you can now go onto Gemini’s platform.

You’ll need to select the cryptocurrency that you wish to deposit to Binance. This can be done in the ‘Portfolio’ section.

#4 Select ‘Withdraw’ to send your currency to another wallet

After selecting the currency you wish to transfer, you’ll need to select ‘Withdraw‘.

#5 Select the amount of currency you wish to withdraw

After that, you’ll need to select the amount of crypto you wish to withdraw.

#6 Paste the deposit address from Binance as the destination address

You’ll be asked to paste the address that you wish to send your crypto to.

You can either scan the QR code, or paste the wallet address that you’ve copied from Binance.

#7 Review the withdrawal before confirming the transaction

You’ll be able to review the details of your withdrawal, before confirming it.

After the confirmation, your crypto will start being sent to Binance.

The withdrawal may take a while to reach your Binance Spot wallet. This really depends on how active the network is at the point of your withdrawal request.

As such, you may need to wait a while before you can receive your crypto on Binance.

From there, you are able to start trading your crypto on Binance!

Conclusion

Gemini is a great platform to send cryptocurrencies to another platform. This is because you will not be charged for your first 10 withdrawals per month!

As such, you can consider buying your crypto using Gemini’s Active Trader platform, before sending it over to another platform.

After sending your crypto to Binance, you can start trading a larger variety of altcoins.

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