how to transfer from coinbase to binance without fees

By converting to Stellar Lumens (XLM) on Coinbase before transferring to Binance, you can minimize transaction fees during cryptocurrency transfers between exchanges.

Oct 28, 2024 at 02:00 pm

How to Transfer Cryptocurrency from Coinbase to Binance Without Fees

Transferring cryptocurrencies between exchanges can often be a costly process. However, there are certain steps you can take to minimize or even eliminate these fees. Here's a guide on how to transfer from Coinbase to Binance without incurring any fees:

1. Convert to XLM on Coinbase

Convert the cryptocurrency you wish to transfer to Stellar Lumens (XLM) within Coinbase. XLM offers the lowest transaction fees among cryptocurrencies.

2. Transfer XLM to Binance

Send the XLM you converted on Coinbase to your Binance wallet. The XLM network charges negligible fees, resulting in a near-zero transfer cost.

3. Convert XLM to Your Desired Cryptocurrency on Binance

Once the XLM is in your Binance account, convert it back to the cryptocurrency you initially intended to transfer from Coinbase. This conversion may incur a small fee on Binance.

4. Withdraw from Binance (Optional)

If you wish to withdraw the cryptocurrency from Binance, transfer it to a hardware wallet or other external wallet to avoid paying withdrawal fees. However, be aware that the withdrawal fee may vary depending on the cryptocurrency.

Additional Tips

• Check for Referral Bonuses: Binance occasionally offers referral bonuses that cover trading and withdrawal fees for new users.
• Use Limit Orders: When converting on Binance, choose "Limit" orders over "Market" orders to lower fees.
• Avoid Trading Pairs with High Spreads: Spreads represent the difference between the buying and selling prices of a particular currency pair. Trading pairs with lower spreads offer better value.
• Utilize Stablecoins: Consider using stablecoins like Tether (USDT) or Binance USD (BUSD) for transfers. Stablecoins have minimal price fluctuations, reducing the impact of fees.
• Use the "Convert" Feature on Binance: Binance offers a "Convert" feature that allows you to exchange cryptocurrencies directly without incurring trading fees. However, there may be a spread in the conversion rate.