Binance is one of the best crypto exchanges around the world. On the other hand, Bitbns is one of the simplest ways of trading Cryptocurrency in India. However, the platform has a high trading fee whereas Binance is one of the cheapest exchanges around the globe. Therefore, you can withdraw Funds from Bitbns to Binance within no time with a hassle-free guide.
Table of Contents
- Binance is the largest platform for exchanging cryptocurrency in terms of the daily trading volume globally.
- Although trading on Binance can be complicated and a bit confusing at first, the users gradually become used to the process of trading and enjoy the procedure.
- Binance is a perfect fit for investing and trading from different parts of the world. Moreover, it dodges the prospect of a slow interface while a user is performing trade in peak hours.
- Bitbns is another platform for trading Cryptocurrency. It allows users to trade in Cryptocurrencies at the best available prices and offers. In addition, it provides easy and hassle-free ways of exchanging Cryptocurrency.
- Both Bitbns and Binance offer the exchange of Cryptocurrency with minimum risks and high returns.
What is Binance?
Binance is a crypto exchange with mobile applications that make trading crypto simpler. The platform was founded in the year 2017 by Changpeng Zhao. Today, it is considered to be one of the largest and most trusted platforms for Cryptocurrency exchange. The platform is frequently updated, so you don’t miss out on any specific information regarding different money deposits, forms of Cryptocurrencies, and trades. It also encourages safe financial transactions and helps you to generate your realm with such high-value returns.
Read the Binance Review to know more.
What is Bitbns?
Bitbns is a part of Buyhatke Internet Pvt. Ltd., i.e., the parent organization merged in 2015. At present,144+ Cryptocurrencies have been listed in Bitbns. Bitbns consents the users to buy and sell Cryptocurrencies at the best available prices and bids ease of trading like no other cryptocurrency exchange. Some of the top Cryptocurrencies available for trading on Bitbns are Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), Litecoin (LTC), Neo (NEO), Ripple (XRP), and more. The platform has over 2.2 million active users who have trusted the platform.
Read the Bitbns Review to know more.
How to Withdraw Funds from Bitbns to Binance?
In case of withdrawal of funds from Bitbns to Binance, the following steps are to be followed-
You have to register yourself on Binance by using your phone number or email address. If you already have an account on Binance, you have to log in to Binance. There is an OTP system for every time you try to log in to the platform.
- After you log in to the platform, you need to go to the Price Tab and select the Crypto asset you wish you get. For instance, if you want to receive Bitcoins, you can click on Bitcoins and hit the receive button.
- After you’ve clicked the receive button, a wallet address will appear on your screen. Now you have to copy this address and head over to Bitbns.
- Now, you have to log in to your Bitbns account.
- After logging in, click on the Wallet section and then click the Overview button. All the funds owned by you will be listed there.
- Now click on Fiat and Spot button. Then click Withdraw against the crypto asset you wish to transfer to Binance.
- Now, you need to paste the address into the withdrawal address copied earlier. Be careful to paste the address of the crypto asset you wish to withdraw, as any recklessness can lead to permanent loss of that asset.
- Now, enter the number of crypto assets you wish to withdraw and then click on the Submit button.
- Now, you need to complete the process of two-factor authentication. It will lead to the completion of the transaction.
- After the two-factor authentication, your funds will be transferred from Bitbns to Binance. The amount will be reflected in your wallet.
Also Read: How to buy GRT on Bitbns?
Necessary Precautions while Withdrawing
It is necessary to take precautions while performing this crucial task of transferring funds from one platform to another. It can lead to permanent loss of the funds you are trying to transport. The necessary precautions have been listed as follows-
- If you are a beginner or performing the transfer for the first time, it is preferred to transfer a small amount first to test if you do it right. It will save a significant amount.
- If you plan to transfer crypto assets other than Bitcoins, you need to check out its availability on Bitbns and Binance. Since Binance has a wider range of crypto assets than Bitbns.
- You can screenshot your transactions and reference numbers. These come in handy if you face any issues in the further transfer of funds.
- The transfer will label it as ‘pending’ if the exchange is still undergoing any confirmations.
- It is advised to contact the Support Service if the transfer takes more than 24 hours to complete. Any other issue should also be put to their notice.
Binance has been the leading platform and the most popular for the trading of Cryptocurrency. But there are still some areas of the world where execution of Binance is not possible. In this case, you can go for Bitbns. It is beginner-friendly and very secure to perform trade. You can transfer funds from one platform to another with great ease. A better understanding of Cryptocurrency and its trading is anticipated from the users. That way, they won’t lose their money. You should priorly know the basic procedure to avail numerous benefits.
Frequently Asked Questions
Q. Which is better – Bitbns or Binance?
Both of the platforms have their benefits and limitations. For beginners, Bitbns is advised. Binance is much advanced and holds a wide range of assets which can complicate the process of basic transfer for beginners. However, experienced users can easily use Binance.
Q. How to transfer funds in the areas where Binance is not operative?
You can transfer the funds from any two platforms which are operative in your area of residence. The process of transfer is the same irrespective of which platform you are using. However, Binance is making ways to your areas shortly.
Q. Is there any way to refund the amount I somehow lost while transferring?
Any loss while transfer of funds is a permanent one and can’t be restored. Therefore, it is being advised repeatedly to have basic knowledge of Cryptocurrency and its transfer before performing any trade or transfer.
Q. Is my money safe in the wallets of Bitbns and Binance?
Yes, you can track your transactions from there as well. If you sense something suspicious going in your account, you can report your issue to the Support Service. They will look after your complaints and resolve them.
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