Binance Users Face Withdrawal Limits, Fees, and Delays

To withdraw funds from Binance, users must first log into their Binance account and navigate to the “Wallet” section. From there, they can select the “Overview” option to view their available funds. To withdraw cryptocurrency, users need to click on the “Withdraw” button, choose the desired cryptocurrency and network, enter the withdrawal address, and confirm the transaction with their two-factor authentication (2FA) code. The withdrawal process for fiat currency involves selling the cryptocurrency first and then selecting a bank transfer as the receiving payment method. Users must add their bank details, enter the amount, and confirm the transaction with their 2FA code. The withdrawal process for USDT to a bank account involves selecting USDT as the currency and a bank account as the payment method, entering the amount, and confirming the transaction.

Binance offers various withdrawal methods, including P2P trading, which allows users to sell USDT to another person who compensates them with a bank transfer. This method requires coordination and trust between both parties, and users are advised to choose buyers with high completion rates to reduce risks. The withdrawal process for cryptocurrency from Binance to coinbase involves copying the Coinbase wallet deposit address and transferring the cryptocurrency from Binance to that wallet address. Users must ensure that the network they are sending with is supported by Coinbase for the coin before proceeding.

Binance withdrawal fees are based on the type of withdrawal and the network used. Crypto withdrawals have network fees, such as 0.00003 BTC for Bitcoin, while fiat withdrawals on Binance.US are free for ACH transfers but cost $25 for wire transfers. The withdrawal limits on Binance are determined by the user's account level and verification status. Standard users can withdraw a maximum of 8,000,000 BUSD daily, while US citizens who have completed KYC on Binance.US can withdraw up to $1 million daily using wire transfers.

Binance withdrawal times vary depending on the cryptocurrency and the blockchain network used. Crypto withdrawals can take a few minutes to an hour, while fiat withdrawals can take 1 to 5 business days, depending on the bank and method used. P2P withdrawals can be instant after the buyer pays, but it depends on how quickly the buyer completes their part. Users can verify the success of their Binance withdrawal by logging into their account, going to the “Wallet” area, and clicking on “Transaction History” to view their latest withdrawals. They can also use a block explorer to enter the Transaction ID (TxID) and check the status of the transaction on the blockchain.

There are several reasons why users may not be able to withdraw from Binance, including incomplete account verification, pending network confirmations, maintenance or security updates, insufficient funds to cover withdrawal fees, or issues with the bank connection or unsupported areas. Users are advised to ensure that their account is fully verified, that they have sufficient funds to cover withdrawal fees, and that their bank is correctly connected before attempting to withdraw from Binance.