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Binance deposit & withdrawal options

Making deposits and withdrawals in Binance
Binance offers a multitude of options when it comes to making deposits and withdrawals.

Deposits & withdrawals on Binance crypto exchange

What deposit options does Binance offer to its users?

Binance exchange offers currently four main options for making deposits or withdrawals:
  1. Debit or credit card. Binance offers easy and fast deposit option with your credit or debit cards. The deposits arrive on your Binance account pretty much immediately.
  2. P2P. Use the P2P trading option to buy crypto directly from other Binance platform users. And pay them with via bank transfer, Alipay, WeChat, or some another third-party payment platform.
  3. External crypto wallets. If you already have a crypto wallet with some crypto in it, simply deposit crypto to Binance exchange.
  4. Advcash Account balance. Advcash is an electronic payment system, basically an e-wallet.

Only a few months ago Binance also had bank transfer or SEPA payment option (in Europe), but this is no longer available.

Does Binance exchange have a withdrawal limit?

Yes. Binance withdrawal limit depends on your verification level. Depending on your verification level you might withdraw 0.06  BTC to 100 BTC per day. We’ll dig deeper into that topic in a moment.

How to deposit on Binance?

  • Log in to your account
  • Click on Wallet (top-right corner)
  • Choose Fiat and Spot
  • Once on the page, click Deposit
  • Choose if you want to make a Fiat or Crypto deposit
  • If you chose crypto, choose the crypto and follow the instructions
  • If you chose fiat, choose the deposit option and follow the instructions

How to withdraw from Binance?

Withdrawing money from Binance platform works exactly the same way as deposits.

If you own crypto you’d like to withdraw to another crypto wallet, then:
  1. Go to the Wallet → Fiat & Spot page
  2. Find the crypto you’d like to send
  3. Click the Deposit button right next to it
  4. Now just paste the crypto address (and other details if necessary) to make the withdrawal to another wallet.
If you own crypto, but would like to withdraw fiat, then you first need to sell the crypto for fiat and then then withdraw the money to your credit/debit card. Note that withdrawals can only be made to VISA card. Mastercard doesn’t seem to be supported for withdrawals.

If there is fiat money in your account, then do the following
  1. Click on “Wallet”
  2. Choose Spot & Fiat
  3. Click on the withdrawal button
  4. Choose Cash
  5. Choose the payout option
  6. Choose amount
  7. And make the withdrawal
And of course, also Binance P2P withdrawal option is available.

Binance exchange deposit & withdrawal fees

  • Depositing crypto to Binance is free – but crypto transaction fees apply
  • Depositing fiat via credit card costs 1.8%
  • Binance withdrawal fee for withdrawing fiat to your credit card costs 1.8%

Binance payment limits based on verification level

Binance takes KYC rules seriously and the amounts you are able to deposit or withdraw depend on your verification level.

No verification
No withdrawal option is available.

Basic Verification
Max crypto deposit is unlimited.
No fiat deposit option is available.
Max withdrawal 0.06 Bitcoin (BTC)

Intermediate verification
Max crypto deposit is unlimited.
Max fiat withdrawal up to $50K/day or $500K/month
Max crypto withdrawal up to 100 BTC per day

Advanced or Complete identity verification
Max crypto deposit is unlimited.
Max fiat withdrawal up to $200K/day or $2M/month
Max withdrawal up to 100 BTC per day

Binance withdrawal limits as well as fiat deposit limits can also depend on a country you live in, so the limits might not be the same for everyone.

Potential problems with Binance payments

As with anything else, while normally everything works just right, sometimes there can be problems. What are the most common problems with Binance payments and what can you do about them?

1. „Unable to process. There was a problem processing your payment.” If you get this error when trying to make a card deposit, there can be different reasons for that. Note that the message can also be "There was a problem processing this payment.":
  • Transaction declined  - this means that your bank has declined the transaction for one reason or another. The only options are to either to try again or contact your bank and ask what the problem might be.
  • Insufficient funds  - you might not have enough money on your card. So you might need to add money to your card or try to another card where you definitely have the funds available.
  • Account limits – Sometimes you might have enough funds on your card, but you might have set daily/weekly/monthly account limits. Those limits can be different for ATM withdrawals, online transaction, and also payments. So if your card has been used a lot recently, check your online banking limits.
  • 3D Secure System Malfunction - this means that there’s something wrong with the security system of the card issuer. Try again or try with another card. 
  • Transaction declined by the card issuer – this reason can be due to bank’s fraud rules, there may be a temporary hold on your card, the payment can be declined due to multiple failed payments in a row, or the bank might have declined the payment because the seller is in a different country than you are. The main solution here is to contact the bank or try another card.

Other possible solutions to Binance payment issues:

  • ​Adblock – while this seems strange, a number of Binance users have found a solution to the payment problem by disabling their Adblocker. Why this works or why would adblock cause this problem in the first place, we don’t know. But it’s worth giving it a shot.
  • Crypto ban – some users have also discovered after contacting their bank that their bank has banned the purchases of crypto.
  • Use only whole numbers – other users have noticed that for some reason they can easily deposit amounts like 20, 30, or 50, but if you try to deposit something like 20.57, there can be problems. We haven’t had this issue ourselves, but it’s worth knowing about.

2. I can’t withdraw money with the card I made the deposit with. Right now it seems that Binance exchange allows withdrawal only to a VISA card. It might not be possible to withdraw money to Mastercard. So if you made your previous payment with Mastercard and can’t see this card in your withdrawal options, you might need to use VISA and instead.

3. I can’t deposit more than XXX amount. This might be due to either your card limits, the amount of funds available on your card, or it’s based on your Binance KYC. Binance has different user levels and in order to increase your limits you need to go through their KYC process.
Jay Gory image
Author: Jay Gory
I became interested in cryptocurrencies only a bit more than a year ago. Since then I have been in investing in cryptos using different crypto exchanges, playing around with crypto trading bots, and also launched Cryptolorium.com to share my crypto journey and my results with all crypto traders.