Account Functions
Tutorial
Binance Fan Token
Binance Earn
Web3 Wallet
Crypto Deposit/Withdrawal
Buy Crypto (Fiat/P2P)
Spot & Margin Trading
Crypto Derivatives
Trading Bots
API
Security
Other Topics
Copy Trading
Tax
Binance Square
Convert & Block Trade
Binance Link
NFT
VIP
2018-01-03 06:30
Withdrawal Status
Frequently Asked Questions
Withdrawal Status
1. The withdrawal is still processing
Log in to your Binance account and click
[Wallet] - [Overview] - [
Transaction History] to view your cryptocurrency withdrawal record. If the [Status] shows that the transaction is “Processing”, please wait for the confirmation process to be completed.
2. The withdrawal has been completed
If the [Status] shows that the transaction is “Completed”, it means that your funds have been sent out successfully. You can click the [TxID] to check the transaction details. Please check with the receiving exchange or wallet using the TxID.
Please make sure that the receiving platform/wallet supports the token you are withdrawing and the network you are using. If you are unsure, please check with the receiving platform/wallet before making a withdrawal, or your assets might be lost and cannot be recovered.
1. I’ve made a withdrawal from Binance to another exchange/wallet, but I haven’t received my funds yet. Why?
Transferring funds from your Binance account to another exchange or wallet involves three steps:
- Withdrawal request on Binance
- Blockchain network confirmation
- Deposit on the corresponding platform
Typically, a TxID (Transaction ID) will be generated within 30-60 minutes, indicating that Binance has successfully broadcasted the withdrawal transaction.
However, it might still take some time for that particular transaction to be confirmed and even longer for the funds to be credited into the destination wallet. The amount of required “network confirmations” varies for different blockchains.
For example:
- Alice decides to withdraw 2 BTC from Binance to her personal wallet. After she confirms the request, she needs to wait until Binance creates and broadcasts the transaction.
- As soon as the transaction is created, Alice will be able to see the TxID on her Binance wallet page. At this point, the transaction will be pending (unconfirmed) and the 2 BTC will be frozen temporarily.
- After the transaction is confirmed by the network, Alice will receive the BTC in her personal wallet after 2 network confirmations.
- In this example, she had to wait for 2 network confirmations until the deposit showed up in her wallet, but the required amount of confirmations varies depending on the wallet or exchange.
Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TxID to look up the status of the transfer of your assets using a blockchain explorer.
Note:
- If the blockchain explorer shows that the transaction is unconfirmed, please wait for the confirmation process to be completed. This varies depending on the blockchain network.
- If the blockchain explorer shows that the transaction is already confirmed, it means that your funds have been sent out successfully and we are unable to provide any further assistance on this matter. You will need to contact the owner/support team of the destination address to seek further help.
- If the TxID has not been generated 6 hours after clicking the confirmation button from the e-mail message, please contact our Customer Support for assistance and attach the withdrawal history screenshot of the relevant transaction. Please make sure you have provided the above detailed information so the Customer Service agent can assist you in a timely manner.
2. How do I check the transaction status on the blockchain?
Log in to your Binance account and click [Wallet] - [Overview] - [Transaction History] to view your cryptocurrency withdrawal record.
If the [Status] shows that the transaction is “Processing”, please wait for the confirmation process to be completed.
If the [Status] shows that the transaction is “Completed”, you can click on the [TxID] to check the transaction details.
Please make sure that the receiving platform/wallet supports the token you are withdrawing and the network you are using. If you are unsure, please check with the receiving platform/wallet before making a withdrawal, or your assets might be lost and cannot be recovered.
I'm an experienced cryptocurrency and blockchain enthusiast, with a deep understanding of various aspects of the industry. My knowledge is based on extensive research, practical experience, and continuous monitoring of the crypto space up until my last update in January 2022. Now, let's delve into the concepts mentioned in the article:
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Account Functions:
- This refers to the various capabilities and features associated with a user's account on the Binance platform. It likely includes account management, security settings, and other functionalities.
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Tutorial:
- This could pertain to educational content or guides provided by Binance to help users understand and navigate different processes on the platform, such as trading, deposits, withdrawals, and more.
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Binance Fan Token:
- Binance Fan Tokens are blockchain-based assets tied to specific sports teams or influencers. Fans can buy, sell, and trade these tokens. They might be used for fan engagement, merchandise purchases, or exclusive experiences.
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Binance Earn:
- Binance Earn likely refers to the platform's feature that allows users to earn passive income on their crypto holdings through various investment products like staking, lending, or savings accounts.
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Web3 Wallet:
- A Web3 wallet is a type of cryptocurrency wallet that is compatible with decentralized applications (dApps) and operates within the Web3 ecosystem. It provides users with control over their private keys and interactions with blockchain-based applications.
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Crypto Deposit/Withdrawal:
- These terms involve the process of depositing or withdrawing cryptocurrencies to and from the Binance platform. It includes initiating transactions and dealing with blockchain confirmations.
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Buy Crypto (Fiat/P2P):
- Users can buy cryptocurrencies using fiat currency or through peer-to-peer (P2P) trading on the Binance platform. Fiat transactions typically involve traditional currencies like USD, EUR, etc.
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Spot & Margin Trading:
- Spot trading involves the immediate exchange of cryptocurrencies at the current market price, while margin trading allows users to borrow funds to increase their trading position, amplifying both potential gains and losses.
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Crypto Derivatives:
- This involves trading financial instruments whose value is derived from the value of an underlying cryptocurrency asset. Examples include futures and options contracts.
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Trading Bots:
- Automated programs that execute trades on behalf of users based on predefined criteria. They aim to capitalize on market opportunities and fluctuations.
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Finance API:
- Binance likely provides APIs (Application Programming Interfaces) that allow developers to integrate Binance's trading and account functions into their own applications or trading bots.
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Security:
- This encompasses the measures and protocols in place to ensure the safety of users' funds and data on the Binance platform.
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Copy Trading:
- A feature where users can replicate the trades of successful and experienced traders automatically.
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Tax:
- This might refer to the taxation implications of cryptocurrency transactions and holdings. Users may need to report their crypto-related activities for tax purposes.
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Binance Square:
- The specific details about Binance Square are not provided, but it could be a dedicated section or feature on the platform.
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Convert & Block Trade:
- This likely involves converting one cryptocurrency to another and engaging in large-scale block trades, which are significant transactions typically conducted off the public order books.
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Binance Link:
- The article doesn't provide details, but this could be a feature linking Binance with other platforms or services.
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NFT:
- Stands for Non-Fungible Token, a type of digital asset that represents ownership of a unique item or piece of content, often used in art and collectibles.
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VIP:
- Refers to Binance's VIP program, which likely offers special privileges and benefits to high-volume or loyal users.
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Home/Support Center/FAQ:
- These terms are likely navigation points on the Binance platform. The Support Center and FAQ sections provide assistance and answers to common user queries.
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Crypto Withdrawal - Why Hasn't My Withdrawal Arrived:
- Addresses common issues and questions users might have when their cryptocurrency withdrawal is delayed.
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Withdrawal Status:
- Explains the different statuses a withdrawal can have, such as "Processing" or "Completed," and provides guidance on what to do in each case.
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Blockchain Explorer:
- A tool that allows users to explore and track transactions on a blockchain, providing details about transaction status, confirmations, and more.
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TxID (Transaction ID):
- A unique identifier assigned to a cryptocurrency transaction, used to track and verify the transaction on the blockchain.
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Network Confirmations:
- The number of confirmations required on a blockchain for a transaction to be considered valid and finalized.
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Possible Network Congestion:
- Highlights that delays in transaction processing might occur due to high traffic or congestion on the blockchain network.
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Customer Support:
- Users are advised to contact Binance Customer Support for assistance with delayed withdrawals, providing necessary details for a timely resolution.
This comprehensive breakdown should help users understand the various concepts discussed in the article related to Binance and cryptocurrency transactions.
