How do I transfer my bitcoin from one exchange to another?

because of how cryptocurrencies work, transferring from one wallet to another is always fundamentally the same: you transmit a “send” transaction with a target wallet address and wait for confirmation. But the transfer times, transaction fees, address formats, and practical steps depend on the currency.

This complete guide walks you through transferring cryptocurrency between wallets in the most common scenarios. It covers fees, speed, risks, and how to avoid making expensive mistakes.

To exchange BTC to SBERBANK, visit: bitcoin to visa

The Basics of Every Crypto Transaction

Before looking at individual situations, here’s a quick reminder of the basics that apply to every crypto transaction.

Cost

Most cryptocurrencies charge transaction fees to pay miners, who confirm transactions and maintain the blockchain.

Transaction fees vary widely. The currency’s design may adjust fees for current transaction volumes, transfer speeds, and how many individual transactions are rolled into your transfer. Third-party services and sites may add their own charges on top.

Speed

The transfer speed depends on how frequently the crypto’s blocks are mined, how active its network is, and how many “confirmations” a transaction needs before it’s recognized as complete.

Risks

The biggest risk is getting the recipient’s address wrong. Send funds to the wrong wallet and they’re gone. There’s no bank or third-party arbiter to reverse the transaction and most cryptocurrencies have built-in anonymity that makes finding a wallet owner’s contact information extremely difficult (or impossible).

To make matters worse, some malware now detects crypto addresses. You copy the right address, but the malware replaces it before you paste. When the address is a random list of numbers and letters, can you spot the difference? Most people don’t even check.

The second-biggest risk is the recipient’s reliability. If you’re sending to yourself, there’s nothing to worry about. But what if you send money to an exchange or a business? Or an ICO? How do you know they won’t disappear with your funds? There’s still very little regulation around cryptocurrency, so be careful who you trust.

Finally, there’s old-fashioned theft. With ICOs raking in millions and the price of Bitcoin hovering near $10,000 per coin, crypto is big money. That makes it – and you – a target for scams and phishing websites that try to get your wallets’ private keys. Enter your information in a fake site and your funds disappear. And, once again, the anonymous nature of crypto means you’ll likely never get them back.

Transfer From Hot Wallet to an Exchange

Moving assets from a hot (web-based) wallet to an exchange rarely incur extra costs. Most wallets apply standard blockchain fees for transfers with no profit for themselves, and most exchanges have no deposit fees.

However, check both: some wallets have “slow” or “fast” options for some currencies and exchanges may charge for deposits at peak times or for small amounts. Bitfinex, for example, has a “small deposit” fee for transactions below $1,000 to discourage mining direct to your exchange account.

• Transfer From MyEtherWallet to Binance
• Transfer From Exodus to Binance
• Transfer From Coinomi to Binance

What to check

1. Verify that you’re on the right websites, both for your wallet and the exchange. Never use a link from another web page: use a bookmark you know is correct, or type in the address and verify you’re on the correct domain before entering any private data.
2. Check the transaction fees at both ends.
3. Double-check the receiving address for the exchange when you copy-paste it.
4. Check how many confirmations are required before your deposit is credited (to estimate arrival time).
5. Check that the exchange wallet can receive funds (i.e. is not in maintenance or being delisted).
6. If your hot wallet has a built-in exchange option, you may save money by swapping your cryptocurrency for one with much lower transaction fees, moving it to the exchange, then trading it for the currency you want. For example, moving Bitcoin can cost several dollars, whereas Bitcoin Cash usually costs several cents. Remember to check trading fees!

Transfer to Binance

1. Login to Binance and choose Balances from the Funds menu.
2. Choose the Deposit option for your currency. Watch for a “!” mark, indicating important wallet status updates.
3. Double-check that you’ve got the right currency, then copy the wallet address.

Transfer From MyEtherWallet to Binance

1. Get your Binance wallet deposit address, as outlined above.
2. Go to myetherwallet and choose View Wallet Info to unlock your wallet.
3. Choose to Send Ether & Tokens.
4. Paste your Binance deposit address and enter the amount to send. Double-check that the address is correct. Don’t adjust the Gas Limit – it won’t make the transaction faster.
5. Select Generate Transaction, then Send Transaction.
6. Triple-check the receiving address and amount, then select Yes, I am sure! Make transactions to send your funds.