As the world of cryptocurrency continues to grow, more and more people are becoming interested in investing and trading in these digital assets. With this comes the need to transfer cryptocurrencies between different platforms and exchanges.
One common transfer people may need to make is from Crypto.com to Binance. While the process may seem daunting at first, it’s actually quite simple once you know what steps to take. In this guide, we’ll walk you through the steps on how to transfer crypto from Crypto.com to Binance, so you can make the most of your investments and trading opportunities.
Things to Know before Transferring Crypto From Crypto.com To Binance
To transfer cryptocurrency from Crypto.com to Binance, you will need to add the Binance wallet address and verify it with 2-factor authentication. Once you have completed these steps, transferring your cryptocurrency to Binance is just a few taps away.
Add & Whitelist The Binance Deposit Address To Crypto.com
As stated above, the first thing to do is to add/whitelist the Binance deposit address to Crypto.com. Here are the steps to follow:
- Open the Crypto.com app.
- Click on “transfer”.
- Select “withdraw”.
- Click on “crypto”.
- Tap on “external wallet”.
- To add the Binance wallet address, tap on the “+ add a new wallet address” button.
- Choose the cryptocurrency you wish to withdraw and make sure that Binance supports it.
- Now, go to the Binance app and retrieve the withdrawal address by tapping on the “wallet” icon and selecting the specific cryptocurrency. Next, select “deposit” and the screen that appears will display a QR code and the address below it. Copy the address.
- Paste the Binance crypto deposit address into Crypto.com.
- Give a name to your wallet and click on “continue”.
- You will then be asked to enter a 6-digit verification code sent to you by your authenticator app.
Basic Steps To Transfer Crypto From Crypto.com To Binance
After successfully adding the Binance deposit address to your Crypto.com account, you can proceed with the transfer of your crypto asset from Crypto.com to Binance. Here are the steps to follow:
- Open the Crypto.com app.
- Click on “transfer” and then select “withdrawal.”
- Tap on “crypto” and select “external wallet.”
- Look for the list of whitelisted addresses and choose the Binance withdrawal address.
- Enter the amount of crypto you wish to transfer.
- Click on “review withdrawal.” This will show you the complete details of the amount you will receive after applicable fees.
- Review the details and click on “Confirm withdrawal.”
Note: Keep in mind that the average transfer time from Crypto.com to Binance or any other platform is around two hours. However, this may take longer depending on the crypto you’re transferring. You will receive a notification as soon as the transfer is successful.
Unable To Transfer Crypto Between Crypto.com & Binance
If you are facing difficulties transferring cryptocurrency between Crypto.com and Binance, the following reasons may be causing the issue:
Reason 1:
One of the most common reasons for failed transfers is incorrect address entry. When entering the transfer address, it’s important to ensure that you only enter the characters present in the address. Any additional character or whitespace can lead to an “Invalid address” error and prevent the transfer from going through. This is applicable whether you’re copying the address, typing it manually, or scanning a QR code.
Reason 2:
Another reason for failed transfers can be attributed to copying the wrong deposit address from either Binance or Crypto.com. It’s crucial to ensure that you are copying the deposit address of the specific cryptocurrency that you intend to transfer. Copying the wrong address can lead to a failed transfer and result in loss of funds..
Final Words
Both Crypto.com and Binance are highly popular and reputable cryptocurrency exchange platforms. These platforms offer a wide range of features to users, making cryptocurrency trading easier and more convenient.
It is often recommended that you keep your digital assets spread across different platforms to minimize risks, and both Crypto.com and Binance offer options for doing so. Meanwhile, the crucial step in transferring cryptocurrency between these platforms is to ensure that the right deposit address is copied accurately, otherwise, you lose your digital assets.
