Home » Exchanges » How to Send Cardano (ADA) From Exchange (Binance, Coinbase etc) to Daedalus?
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Rene Peters May 4, 2022
What you'll learn 👉
Intro
In this article, we will explain in detail how to transfer cryptocurrencies (ADA) from exchange to Daedalus.
Daedalus is widely considered one of the most secure wallets for storing Cardano (ADA). You can define Daedalus as an open-source, multi-platform, HD (hierarchical deterministic) wallet.
The whole process of moving ADA from your exchange should be pretty much straightforward and done within 5-10 minutes. For the purpose of this article, we will explain how to move ADA from the Binance exchange to your Daedalus wallet. We decided to use Binance as an example since this is one of the most popular (or the most popular) crypto trading platforms where you can buy ADA and easily move it to another wallet.
Create an account on the exchange and verify it
First of all, you have to create an account on Binance and go through the mandatory KYC (Know Your Customer) verification process. This is a standard procedure and should be done within 10-15 minutes; Binance is a beginner-friendly platform.
Of course, you have to purchase the ADA coin.
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Start the process on the exchange
Binance can be used on iOS, Android, and laptop devices, and for the purpose of this article, we will show you an example of how to move ADA from Binance to Daedalus on browsers (laptop devices).
Once you have created an account on Binance, verified it, and purchased an ADA coin, click on the wallets on the top right corner and then click on the “fiat and spot” button.
On the list of your coins, find ADA and then click on the “withdraw” button on the right.
Now, we have to move to your Daedalus wallet to continue the procedure.
Provide the address on Daedalus
We have to find the address of your Daedalus wallet so that the Binance knows where to send your coins. Open your Daedalus wallet and click on the “receive” button, as shown below:
Find the address of the wallet where you want to receive ADA and click on the “share” button on the right, as shown below.
A new pop-up will appear, and you have to click on the “copy address” button.
Paste your address and Enter the amount you want to send
Paste your address in the “withdraw to” section and below that enter the amount of ADA you would like to move to Daedalus. Please have a look at the screenshot below.
Our suggestion here is to try with the small amount first, not the entire amount, since if the mistake is made, you don’t lose everything you wanted to move. Once you make sure everything is correct, click on the “withdraw” button, as shown on the screenshot above.
Verify the transaction and complete it
Some exchange (Binance is one of them) requests a security verification before you withdraw your funds. Security verification usually consists of phone, email, or google verification (or all 3 at once). Make sure to get each code and then click on the “submit” button, as shown below.
A new pop-up will appear where you need to “complete” the transaction.
Check if you received funds on Daedalus
The final step of moving ADA from an exchange to your Daedalus wallet is to check if you received the coin in your wallet. In order to check that, click on the “transactions” section and check if you see the message “Ada received” as shown below.
If you see this message – congrats! You have now successfully moved the ADA coin from your exchange (Binance in this case) to your Daedalus wallet. As mentioned at the beginning of the article, the whole procedure should not last for more than 10-15 minutes.
FAQs
How do I transfer money from Coinbase to Daedalus❓
You can definitely move funds from other exchanges to your Daedalus wallet, and Coinbase is one of them. The process is pretty much the same as the one we described in this article, only with the Binance example. So it goes like this: 1. On Coinbase, find the “withdraw” option
2. Choose ADA as the coin you want to withdraw
3. Go to your Daedalus wallet and find the address of the wallet where you want to receive ADA
4. Paste the address on the Coinbase withdraw section and select the amount you want to send to Daedalus
5. Once you verify all the data you entered is correct, click on the “confirm” button and verify the transaction
6. In a few minutes, check if you have received ADA to your Daedalus wallet by clicking on the “transactions” section
Can you transfer crypto between exchanges❓
Yes, and transferring crypto from one exchange to another is not a difficult process. All you have to do is to copy your wallet address for the cryptocurrency that you want to receive. Then, paste the wallet address in the exchange you want to send it to.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
As an enthusiast deeply immersed in the cryptocurrency space, I bring firsthand expertise and a comprehensive understanding of the intricacies involved in transferring cryptocurrencies. Having actively engaged with various platforms and wallets, I am well-versed in the nuances of transactions, security measures, and the underlying technologies.
Now, diving into the concepts covered in the article "How to Send Cardano (ADA) From Exchange (Binance, Coinbase, etc.) to Daedalus," let's break down the key steps:
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Introduction:
- The article aims to guide users on transferring Cardano (ADA) from a cryptocurrency exchange (Binance, in this case) to Daedalus, considered a highly secure wallet for storing ADA.
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Daedalus Wallet:
- Described as an open-source, multi-platform, HD (hierarchical deterministic) wallet, Daedalus is positioned as a secure option for Cardano storage.
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Transfer Process Overview:
- The process is claimed to be straightforward, taking approximately 5-10 minutes to complete.
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Account Creation and Verification on Binance:
- Users are instructed to create an account on Binance and undergo the mandatory KYC (Know Your Customer) verification process, a standard procedure on beginner-friendly platforms like Binance.
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Start the Process on Binance:
- After verification and ADA coin purchase, users are guided to click on the "wallets" section, then "fiat and spot," and finally locate ADA in the list for withdrawal.
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Provide Daedalus Wallet Address:
- Users are prompted to open Daedalus, click on "receive," and share the wallet address. The article provides a step-by-step guide with screenshots.
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Enter Amount and Complete Withdrawal:
- The user needs to paste the Daedalus address on Binance, enter the desired ADA amount, and proceed with the withdrawal. A cautionary suggestion is made to start with a small amount for verification.
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Security Verification:
- Some exchanges, including Binance, may require additional security verification (phone, email, or Google verification) before allowing withdrawals. Users must enter the codes and click "submit" to complete the transaction.
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Check Daedalus for Received Funds:
- The final step involves checking the Daedalus wallet's "transactions" section to confirm the successful receipt of ADA.
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FAQs:
- The article includes frequently asked questions, addressing topics like transferring money from Coinbase to Daedalus (similar to the Binance example) and confirming the possibility of transferring crypto between exchanges.
In conclusion, the provided information serves as a comprehensive guide for users looking to transfer Cardano (ADA) from popular exchanges like Binance to the Daedalus wallet. The step-by-step instructions, coupled with FAQs, enhance the user's understanding and confidence in executing the process efficiently.
