how to transfer bitcoin from coinbase to binance without fees

To transfer bitcoins from Coinbase to Binance without incurring fees, users must ensure they select the "BTC (BEP2)" network option when sending their coins.

Oct 28, 2024 at 01:22 am

How to Transfer Bitcoin from Coinbase to Binance Without Fees

1. Create a Coinbase Account

If you don't already have one, create a Coinbase account. This process takes a few minutes and requires your email address and some personal information.

2. Create a Binance Account

Similarly, create a Binance account if you don't have one. This process is also quick and requires your email address and additional verification steps for security purposes.

3. Enable Cross-Chain Deposits on Binance

Before transferring bitcoins, you'll need to enable cross-chain deposits on Binance. Go to your Binance dashboard and navigate to "Wallet" > "Fiat and Spot" > "Deposit." Search for "BTC" and select the "Cross-Chain Transfer (BEP2)" option.

4. Copy the Binance Bitcoin Deposit Address

Go back to the Binance deposit page and click on the "Copy Address" button to copy your unique Bitcoin (BEP2) deposit address.

5. Send Bitcoins from Coinbase to Binance

Now, go to your Coinbase account. Click on "Send/Receive" in the menu bar and select the "Send" option.

6. Paste the Binance Bitcoin Address

In the "To" field, paste the Binance Bitcoin deposit address you copied earlier.

7. Enter the Amount to Transfer

Enter the amount of Bitcoin you want to transfer to Binance.

8. Select the Network

Choose "BTC (BEP2)" from the network options. This will enable the transfer without incurring gas fees.

9. Review and Confirm

Carefully review the transfer details to ensure everything is correct. Once satisfied, click on the "Send now" button.

10. Wait for Confirmation

The transfer process usually takes a few minutes to complete. You can track the progress on the transaction history page of both Coinbase and Binance.

Additional Tips:

• Make sure you use the correct Bitcoin network (BEP2) to avoid losing your funds.
• Double-check the recipient address before sending any coins.
• Consider splitting the transfer into smaller amounts to minimize the impact of any potential delays.
• Be patient, as cross-chain transfers can sometimes take longer than usual.