Even though Binance is one of the safest crypto trading platforms, transferring assets to a personal crypto wallet is a good option. A well-known and industry-leading wallet for storing crypto is the Metamask wallet. Ideal for beginners and experienced traders alike, this article will explain how to transfer from Binance to Metamask with a step-by-step tutorial.
How To Transfer Cryptocurrency from Binance to MetaMask – Quick Guide
- Log in to Binance, click on "Overview," then navigate to "Fiat and Spot"
- Select the currency (e.g. BNB) to send and click on "withdraw"
- Copy and paste the MetaMask wallet address into Binance
- Select the appropriate chain and enter the desired withdrawal amount
- Click on withdraw to initiate the transfer to MetaMask
Can You Transfer Crypto From Binance To MetaMask?
Since MetaMask is compatible with Binance, investors can transfer BNB and other digital assets, from their Binance wallet to MetaMask. Users can also connect MetaMask with their favorite exchanges like Coinbase or Binance for ease of use. Although, the MetaMask wallet is preconfigured to be an Ethereum wallet, so sending tokens to other chains like the Binance Smart Chain without adjusting its default settings. This can lead to a failed Binance withdrawal and potential loss of funds.
How to add BSC to a Metamask wallet:
To add Binance smart chain to MetaMask to transfer BNB tokens, follow these steps:
- Go to settings and search for the Network menu.
- Click on "Add Network." This step will enable the user to connect Binance to MetaMask.
- The user will be prompted to add a network via a mainnet or testnet. Users who want to perform functions related to Binance smart chain Dapps would need to add Binance smart chain via both methods.
- Connect MetaMask to the mainnet with the details below:
|Network Name||Smart Chain|
|New RPC URL||https://bsc-dataseed.binance.org/|
|BNB Block Explorer URL||https://bscscan.com|
How Long Does It Take To Send Cryptocurrency From Binance To MetaMask?
The time it takes to send crypto from Binance to MetaMask can vary based on a few factors such as the network used, congestion, and the fees paid. Typically, transactions from Binance to Metamask can take between a few minutes to several hours. Binance has a network status page which can be checked before sending tokens via the BSC network. The factors that can affect the speed are:
- The blockchain network. Different blockchains have different processing times for transactions. For example, Bitcoin transactions can take a few minutes to several hours to be confirmed, while TRC-20 or the Binance Smart Chain transactions tend to be faster, often taking just a few minutes.
- The network congestion level. Congestion levels happen when transaction levels on the blockchain are high. If the network is congested, the transaction may take longer to process.
- The transaction fee. The amount paid on transaction fees often determines the processing time. A higher fee often means the transaction will be processed faster.
How to Send Cryptocurrency from Binance to MetaMask - Full Tutorial
To transfer assets from Binance to MetaMask, follow these steps:
Create a Binance account (verify the account with the verification code sent to your email) or login to an existing user profile. Enter personal details such as username (email or cell number) and password, then press the Log In button.
On the dashboard, the Wallet menu is accessible from the right-hand side of the screen. Hover above the "Wallet" tab or tap on "Wallet" if using a mobile device to display several options. Click on "Overview" to be redirected to a new page. From the menu bar, a wide variety of choices will appear on the left. The "Fiat and Spot" option is directly under "Overview." Click on it to move on to the next step.
2. Select the cryptocurrency to transfer and click 'withdraw'
The user's acquired assets will be displayed in the Fiat and Spot section, and they can choose the asset to transfer. If the asset to withdraw is Ethereum, for example, the user will identify it on the list of assets and then click the "Withdraw" button on the right.
3. Copy the MetaMask wallet address
Before copying a wallet address, it has to be created first. To do this, investors can install a MetaMask extension on Chrome or a preferred browser to create and link a wallet.
These are the steps to locate an Ethereum wallet address in MetaMask
- Open the MetaMask extension in a web browser.
- Click on the "Account" button in the top-right corner.
- The Ethereum wallet address will be displayed as a string of letters and numbers beneath the "Account" button.
Alternatively, the user can also find the Ethereum wallet address by clicking on the "Account" button and selecting the "Copy Address to Clipboard".
4. Input amount and select the appropriate chain
The Network field will be changed immediately after pasting the MetaMask wallet addressThe user can also manually choose the network. In this case, it would be Ethereum (ERC-20). When that is done, input the amount to transfer into the MetaMask address and click withdraw. For a full tutorial on the Binance withdrawal process, we have compiled a detailed guide here.
5. Confirm the transfer to MetaMask
After clicking on 'withdraw', the user will receive a verification number via email or text message, which Binance will request to input into their system. Enter the e-mail or phone verification code into their respective fields and hit the Submit button.
The transaction will be processed after successful submission. A transfer of assets can typically be completed in less than five minutes if there's no congestion. Simply scroll down to the "Recent Withdrawals" area to view the current withdrawal status. After a withdrawal has been marked as Completed under 'Recent Withdrawals', it will reflect on the MetaMask wallet extension's dashboard.
Frequently Asked Questions
Yes, it's possible to transfer crypto funds from Binance to MetaMask. Connect a MetaMask wallet to a verified Binance account and navigate to the "Withdraw" page on Binance. Enter the MetaMask wallet address in the "Withdrawal Address" field, and enter the amount of crypto to transfer.
A Binance account user can transfer Ethereum from Binance to their MetaMask wallet. The process is simple. The transaction fee might vary depending on the network being used. The most important consideration is to ensure the sending and the recipient's network are the same.
There are several reasons why it's a good idea to send crypto from Binance to a software wallet like MetaMask. The process of transferring funds from Binance to MetaMask is straightforward once the BSC network has been added in the case of sending Binance Coin. While Binance is a reasonably safe platform, it is better to hold onto your own private keys and MetaMask provides this option. For a comparison list of the best crypto wallets that can be used as an alternative to MetaMask, read this article next.