Generally, transfers work flawlessly. However, sometimes we encounter obstacles. For example, when you want to send money to a friend in Argentina who only has an account in Argentine Pesos.
- Yes, there are paid services like Western Union or Remitly, but you don’t have control over the transfer, its timing, and they are costly
How to Send and Withdraw Money via Binance? A Complete Guide for International Users#
Binance is one of the largest cryptocurrency exchanges in the world, offering many deposit and withdrawal methods in various currencies. This step-by-step guide explains how to fund your account, buy USDT (a cryptocurrency pegged to the dollar), and withdraw funds, using options such as cards, bank transfers, P2P, and more. All in a safe, legal, and tailored manner for global users.
1. Preparing Your Binance Account#
Before starting transactions, it is necessary to create and verify your account:
- Registration: Go to the Binance website, provide your email address or phone number, and create a strong password.
- Identity Verification (KYC): Upload a scan of your identity document (e.g., passport) and a selfie with the document. The process takes from a few minutes to several hours.
- Enable 2FA: Activate two-factor authentication (e.g., Google Authenticator) for added security.
2. Methods for Depositing Funds into Binance#
a) Deposit via Binance P2P#
The P2P platform allows you to buy cryptocurrencies directly from other users, with the exchange as the guarantor of the transaction. Steps:
- Go to “Trade” → “P2P Trading”.
- Choose a cryptocurrency (e.g., USDT) and fiat currency (e.g., EUR, USD, GBP).
- Find a seller with a good reputation (rating 95%+), a favorable exchange rate, and a matching payment method (e.g., bank transfer, PayPal).
- Place an order and transfer the money to the seller’s account.
- After confirming the payment, USDT will be transferred to your wallet.
Advantages: No fees from Binance, flexibility in choosing the exchange rate.
- Binance escrow guarantees that the recipient will not see their USDT again even if they say they did not receive the transfer. Until the situation is clarified.
b) Deposit by Credit/Debit Card#
A quick method for those who want to buy crypto immediately. Steps:
- Click “Buy Crypto” → “Credit/Debit Card”.
- Choose a fiat currency (e.g., EUR, USD) and cryptocurrency (e.g., USDT).
- Enter your card details and confirm the transaction.
- The purchased USDT goes directly to your wallet.
Fees: ~2% commission on the transaction amount. Minimum deposit: 15 EUR/USD.
c) Bank Transfer#
Ideal for larger amounts. Binance supports SEPA transfers (for EUR), SWIFT (for USD), and others. Steps:
- Go to “Deposit” → “Bank Transfer”.
- Choose a currency (e.g., EUR) and copy the Binance account details.
- Make a transfer from your bank, making sure that the account details match the details on Binance.
Fees and Time:
- SEPA: Fee of 1 EUR, processing time of 1-2 business days.
- SWIFT: No fees from Binance, but intermediary banks may charge a commission (e.g., 20-50 USD). Time: 2-5 days.
d) Cryptocurrency Deposit#
If you already have crypto (e.g., Bitcoin), transfer it to Binance:
- Click “Deposit” → “Deposit Crypto”.
- Choose a cryptocurrency and network (e.g., ERC-20 for Ethereum).
- Copy the deposit address from Binance and send crypto from an external wallet.
Note: Check the network compatibility to avoid losing funds.
3. Converting Fiat to USDT#
If you have deposited fiat funds (e.g., EUR), you can exchange them for USDT:
- Go to “Trade” → “Spot”.
- Search for the pair EUR/USDT (or another, e.g., USD/USDT).
- Enter the amount and place the purchase order. Alternatively: Use the “Convert” function to instantly exchange fiat to USDT.
4. Withdrawing Funds from Binance#
a) Withdrawal via P2P#
Sell USDT to other users for fiat currency:
- Go to “P2P Trading” → “Sell”.
- Define the forms in which you want to receive cash, provide your bank details.
- Choose an offer from the list with a good exchange rate and an appropriate payment method (e.g., bank transfer).
- When the buyer sends the money, release the USDT from Binance escrow. Do not release USDT until you receive confirmation from the bank.
Advantages:
- Speed (transactions take from a minute to 15 minutes), no fees from Binance.
- The bank receives money from another bank account - no traces of crypto.
- USDT does not leave Binance, so no one explains anything to anyone.
- In this way, your friend from Argentina can have their Pesos a few minutes after you sent them USDT, and there is no risk that the bank will block the transaction because there is no trace of crypto in it, so it is not automatically “suspicious.”
b) Withdrawal to a Bank Account#
- Go to “Withdraw” → “Fiat”.
- Choose a currency (e.g., EUR) and method (e.g., SEPA).
- Enter your bank account details.
- Confirm the transaction via 2FA and email.
Fees and Time:
- SEPA: Fee ~1 EUR, time 1-2 days.
- SWIFT: Fee depends on the bank, time 2-5 days.
- Option not recommended for larger amounts, banks “don’t like” when transactions have anything to do with crypto.
c) Withdrawal to a Debit Card#
Available in selected regions:
- Choose “Withdraw” → “Card”.
- Enter card details and amount.
- Confirm the withdrawal. Funds will appear in the account within minutes.
5. Security and Common Mistakes#
- Avoid P2P scams: Communicate only through Binance chat, do not trust offers with “too good” rates.
- Check transaction details: Before sending crypto, make sure the address and network are correct.
- Monitor fees: SWIFT transfers may have hidden costs.
- Use 2FA: Protects against unauthorized access.
6. Summary: Why Binance?#
- Flexibility: Deposit in 40+ fiat currencies, withdraw via P2P, cards, or bank.
- Low costs: P2P and SEPA transfers are the cheapest.
- Speed: Card or P2P transactions take minutes.
- Security: Binance escrow and 2FA minimize risk.
- If you make a deposit on Binance via P2P and your recipient makes a withdrawal in P2P - you will make transactions practically without costs, at one of the best rates, in a few minutes and with control over the flow of funds.
Need help? Use the official Binance chat or visit Binance Academy.
