Transfer of funds between exchanges

Now it is more relevant than ever to talk about transferring funds between exchanges, in particular it concerns citizens of the Russian Federation, for whom the probability of blocking the Binance exchange is extremely high. In order not to do everything at the last moment, we advise you to consider the transition now. Read more about what you can do in case European crypto exchanges and wallets are blocked in our article.

First, you must be registered with the exchange you need to transfer assets to, we recommend BYBIT, OKX and Gate.io. You must have verification on them. You can check out the safe exchanges in this article.

To transfer coins from one exchange to another you need to:

Go to the app or to the exchange's website, click “Wallet” and “Deposit”. In the Cryptocurrency section, select the desired coin you want to transfer.

Select a transfer network. USDT is usually transferred in the TRC20 network, almost all Exchanges support this network. It is considered the most popular and the cheapest, so in this network you can easily transfer to another exchange. BNB in the BEP20 network, ether in the ERC20 network (also supports a number of the most popular coins, so you can withdraw them through this network).

It is important that the network when sending from Binance and the network of the other exchange coincide! TRC20, Near, BEP20, Solana networks take a small commission of about 0.1-1$ usually, and ether and bitcoin networks take more commission, but this can be bypassed by exchanging them to Lightcoin (LTC) or DOGE on Binance and transferring them to another exchange to exchange them back to the same coins.

After selecting a network, copy the address to transfer and go to Binance.

On Binance, go to the “Wallet” section of the spot wallet.

On the spot wallet, select the coin you want and click “Withdraw” at the bottom. Then click “Send via crypto network”.

In the Address section put the address copied from the exchange to receive coins. Choose a network, there is also written the commission of the network. Enter the amount. You can press: “Max” to enter the entire amount at once.

Press EXHIBIT.

Confirmation with one-time passwords from your phone, mail, Authenticator application (if you have it). And wait for the transfer, usually it takes up to 5-10 minutes, but sometimes it can take up to 45 minutes.

Connect Veles and do not worry about your money. How to connect Veles to other Exchanges read in the section “For Beginners”.

Profit! 🚀