How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From Binance to Ledger?
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IMPORTANT WARNINGS
- Trying to deposit a non-supported token may result in the loss of tokens.
- Send a small test amount first
- Beware when choosing the network which you want to use for sending crypto
How to Withdraw Cryptocurrency on Binance
Protecting your crypto is a key component of being in the crypto world. Most people have heard the “not your keys, not your coins” sentence. Because of this feeling, many people are withdrawing their coins between Binance and their Ledger.
Even though you can trade on Ledger as well, people still prefer Binance. So this causes users to transfer their money between the two whenever they are trading or whenever they are holding. Let’s see how we can transfer our coins from Binance to our Ledger.
For starters, open up your Binance account. Here you will see the main page, and click over the “wallet” button. You will see a red rectangle on the “overview” button on that list, click on it and you will be redirected.
Where you are redirected, you will see the deposit, the withdrawal, the transfer, and the estimated balance of your account total worth on the screen. Click on the withdraw button and let’s start the withdrawal process.
This is the withdrawal page, you will be doing all of the withdrawal processes here. Click on the coin to open up the coin selection list.
Type in the coin you want to transfer on the search bar and click on it in order to start the withdrawal of that coin out of Binance.
In order to withdraw, we need to withdraw it somewhere. This means we need a deposit address, and since we are withdrawing to Ledger, we need to connect our Ledger to our PC and start looking for the address.
Finding Ledger Live deposit address
Ledger has a very simple depositing process if you have already done it before. However, for the people who are doing it for the first time, it takes a bit of time. First, you need to connect your Ledger to your PC and open up the Ledger on your screen. Find the Bitcoin app (each coin has its own app) and open that in your Ledger app as well.
When you are asked if Bitcoin or Bitcoin cash, pick the one you want to deposit, if it is asking the same question for another coin, you need to pick the right one again.
Now comes the network type. If you want to withdraw from Binance to Ledger, they both need to be on the same network. Pick the same network here as well and continue.
When the app finally starts, click on the receive button to get your deposit address for whichever coin you want to use.
When you select it, it will show on your Ledger Nano and not on the screen at first. Allow your device to show the address on the screen as well.
When you see the address you can use either the QR code or the address itself. Now we have our Ledger address. You can save this on the address book of Binance to avoid doing all of this each time you want to send crypto to your Ledger.
Binance transaction completion
Since we are getting closer to finishing, we will paste the address we got from Ledger and double-check the address and the network. This is also the same page where you will put the amount you want to send. After you are certain that all the information you have given is correct, you could click the withdraw button for the last stage.
Security is the whole reason we are sending our cryptos from Binance to Ledger. It is also something Binance cares about a lot as well. In order to finish our withdrawal, we will enter the verification codes we received on our phones. Enter them and you will be able to finish it by clicking the submit button.
From this point out, all you will have to do is wait. Ledger will show you what you are receiving very quickly, but Binance may take a while to send. Anything native to Binance, mainly the BEP20 network will be very quick, but everything else will go through a security check, but nothing too long. You should be receiving in around 15-20 minutes at tops.
Read also:
- How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From BitMart To Coinbase?
- How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From Binance To MetaMask?
- How To Transfer Crypto (ETH, ADA, SHIB etc.) From DeFi Wallet To Crypto.com?
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- How To Transfer Crypto (BTC, ETH, ADA, SHIB etc.) From eToro To MetaMask?
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