Binance stands as the world's largest cryptocurrency exchange by trading volume, offering diverse investment products and passive income opportunities. Whether you're an active trader or a long-term investor, converting crypto profits to fiat is inevitable. This guide explores multiple withdrawal methods tailored to different needs.
Converting Cryptocurrency to Fiat
Before withdrawing, you must sell your crypto for fiat. Here’s how:
1. Spot Market Trading
Navigate to Markets → Select a crypto/fiat pair (e.g., BTC/EUR) → Enter the amount to sell.
Alternatively, use fiat/crypto pairs (e.g., EUR/BUSD) to buy fiat directly.
2. Dollar-Cost Averaging (DCA) for Sales
While Binance lacks automated recurring sells, manually selling fixed crypto amounts at intervals mitigates market volatility risks.
👉 Learn how to optimize DCA strategies
Supported Fiat Currencies & Methods
Binance supports USD, EUR, GBP, and others, but availability varies by region. Key withdrawal options:
1. Bank Transfer (USD SWIFT)
- Fee: Flat $15.
- Processing Time: 2–4 business days.
Steps:
- Go to Wallet → Fiat and Spot → Withdraw.
- Select USD → Bank Transfer (SWIFT).
- Enter bank details (SWIFT/BIC code).
- Confirm amount and execute.
Pros: High limits ($200K daily for verified users).
Cons: Slow processing; inactive on weekends.
2. Debit/Credit Card
- Fee: Percentage-based (varies by currency).
- Processing Time: Minutes to 24 hours.
Steps:
- Choose currency → Bank Card.
- Link card and enter amount.
- Confirm withdrawal.
Pros: Instant access to funds.
Cons: Low limits (e.g., 5,000 EUR/day).
3. Third-Party Channels (Advcash/Payeer)
- Fee: Competitive but region-specific.
- Processing Time: Faster than SWIFT.
Pros: Low fees.
Cons: Limited currency support.
Alternative: Transfer Crypto to Another Exchange
If your local currency isn’t supported:
- Send crypto (e.g., BTC) to exchanges like Kraken/KuCoin.
- Sell for fiat and withdraw there.
FAQs
Q1: What’s the cheapest withdrawal method?
- For large sums: SWIFT ($15 flat fee).
- Small amounts: Debit/credit cards.
Q2: How long do card withdrawals take?
Usually under 24 hours.
Q3: Can I withdraw any fiat currency?
No—check Binance’s updated list of supported currencies.
Q4: Are there withdrawal limits?
Yes, based on your account verification level.
Q5: What if my bank rejects a SWIFT transfer?
Contact your bank’s support team.
Final Tips
- Large withdrawals: Use SWIFT for cost efficiency.
- Urgent needs: Opt for card withdrawals.
- Always verify fees and processing times for your region.