Crypto

5 Steps To Transfer MATIC From Binance To Metamask

How To Send MATIC From Binance To Metamask

Last updated on March 21st, 2022

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You may have bought some MATIC on Binance, and are looking to send it to your Metamask wallet.

Here’s a guide to show you each step:

How to transfer MATIC from Binance to Metamask

Here are 5 steps to send your MATIC from Binance to your Metamask wallet:

  1. Select the appropriate network on your Metamask wallet
  2. Copy the wallet address from your Metamask wallet
  3. Select MATIC as the currency you wish to withdraw from Binance
  4. Enter the transaction details and withdraw MATIC using your preferred network
  5. Receive MATIC in your Metamask wallet

Select the appropriate network on your Metamask wallet

The first thing you’ll need to do is to ensure that you’ve selected the appropriate network on Metamask.

Metamask Supported Networks

You are able to send either the ERC20, BEP20 or Polygon versions of MATIC from Binance to your Metamask wallet. As such, you will need to select which network you intend to use to send your MATIC tokens.

You will need to add the Binance Smart Chain or Polygon networks to your Metamask wallet if you have not done so too.

Copy the wallet address from your Metamask wallet

Once you have selected the appropriate network on your Metamask wallet, you will need to copy the deposit address from your Metamask wallet.

Metamask Copy ETH Address

You may notice that your Binance Smart Chain deposit address is exactly the same as your Ethereum Mainnet address and Polygon address.

However, you will still need to add the Binance Smart Chain or Polygon network to your Metamask wallet so that you can view the MATIC that you’ve sent over using those networks.

If you are finding it hard to remember all of these long deposit addresses, you may want to consider simplifying them using Unstoppable Domains.

This allows you to send crypto to a .crypto or .wallet address, which makes it much easier to transfer cryptocurrencies between platforms!

Select MATIC as the currency you wish to withdraw from Binance

Once you have copied the address from Metamask, you will need to go to Wallet‘, and then ‘Fiat/Spot‘ on Binance’s platform.

Binance Wallet Fiat Spot

Once you’re there, you can search for MATIC, and then select ‘Withdraw‘.

Binance Select MATIC Withdraw

Enter the transaction details and withdraw MATIC using your preferred network

The next step will be to enter the transaction details.

After pasting the MATIC deposit address from Metamask, Binance will show you the 3 networks that you can use to withdraw:

  1. Binance Smart Chain (BEP20)
  2. Ethereum (ERC20)
  3. MATIC
Binance Detect Metamask Deposit Addresses

You may want to note that you aren’t able to send MATIC via the Binance Chain (BEP2), as the Binance Chain is not supported on Metamask.

Since the deposit address is the same for all 3 networks, you will need to select the correct network to send your tokens with.

If you want MATIC tokens on the Polygon Mainnet, you will need to select ‘Polygon‘. However, if you want your MATIC tokens on the Binance Smart Chain, you will need to select ‘BSC‘.

Receive MATIC in your Metamask Wallet

After the transfer has been initiated, you will receive MATIC in your Metamask Wallet.

The time taken to send MATIC over will heavily depend on the congestion of the network that you used.

What are the fees to transfer MATIC from Binance to Metamask?

Here are the fees for withdrawing MATIC from Binance, depending on the network you choose:

ERC209.72 MATIC
BSC0.12 MATIC
MATIC0.1 MATIC

The fees are cheapest if you are using the Polygon network, while it is the most expensive when you are withdrawing via the ERC20 network!

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Creating a histogram of stock returns | Analyzing stock returns #3
Conclusion

To send MATIC from Binance to Metamask, you will need to ensure that you have added either the Binance Smart Chain or Polygon network to your Metamask wallet.

This process is similar to how you would send MATIC to your Metamask from Crypto.com.

Since the deposit address is the same for all 3 networks, it will depend on which network you chose (ERC20, BSC or MATIC) to withdraw MATIC from Binance!

You can view my guide on how you can send other tokens from Binance to Metamask here.

After adding and receiving your tokens to your Metamask wallet, you can consider using decentralised exchange (DEX) aggregators, including:

Since both platforms are DeFi aggregators, they will ensure that you will get the best rates for any swaps that you make!

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