Your Guide:
How to Withdraw & Move Bitcoin from Binance to a Cold Wallet
Move your bitcoin off Binance safely with expert help from The Bitcoin Way.
Why Self-Custody Matters
Absolute Ownership
You alone hold the private keys, which means no one can access, seize, freeze, or block your transactions.
Security & Privacy
You protect your bitcoin from exchange failures, platform hacks, and legal overreach. You also reduce the chances of others monitoring your financial activity.
Financial Sovereignty
Self-custody gives you the freedom to move anywhere with your bitcoin and spend it without restrictions.
It’s Easier Than You Think
Moving your bitcoin to self-custody is easier than you might think. When you get stuck, we at The Bitcoin Way can guide you.
Self-Custody Gives You Full Control
Take control of your private keys, regain full ownership of your bitcoin, and achieve true financial sovereignty.
How to Move Bitcoin from Binance to Your Hardware Wallet
Access your Binance account
Log in to your Binance account and find the 'Withdraw' button.
Prepare your hardware wallet
Set up your (ideally air-gapped) hardware wallet and make sure you have properly backed it up.
Copy your wallet address
Copy the receiving wallet address from your hardware wallet. Make sure the address type is supported by Binance so your bitcoin can be received without issues.
Initiate the withdrawal
After verifying the address, copy and paste it into the recipient field on your Binance ‘Withdraw’ screen, then enter the amount of bitcoin you want to transfer to cold storage. If you’re withdrawing a large amount of bitcoin, conduct a small test transaction first to ensure your coins arrive safely and you haven’t made any errors along the way.
Why Self-Custody Matters
Absolute ownership
You alone hold the private keys, which means no one can access, seize, freeze, or block your transactions.
Security & Privacy
You protect your bitcoin from exchange failures, platform hacks, and legal overreach. You also reduce the chances of others monitoring your financial activity.
Financial Sovereignty
Self-custody gives you the freedom to move anywhere with your bitcoin and spend it without restrictions.
Secure Your Bitcoin the Right Way
The Bitcoin Way helps individuals transition to full Bitcoin self-sovereignty. From buying and securing bitcoin to setting up multi-signature wallets, our consultants will guide you every step of the way.
Personalized advice. 100% Bitcoin-focused. Privacy guaranteed.
FAQs
Binance is a reputable exchange with strong security measures that are in place to protect customer assets. However, keeping your bitcoin on any centralized exchange means trusting them with your private keys. For long-term storage, especially for larger amounts of bitcoin, the safest approach is to self-custody using a cold wallet.
Yes, you can transfer bitcoin from Binance to any external wallet, including hardware wallets. Just make sure you copy and paste the correct receiving address into the Binance withdrawal page. In particular, make sure you only send bitcoin to a valid on-chain Bitcoin address.
The time it takes to move bitcoin from your Binance account to a cold wallet is determined by the speed of the Bitcoin network. After Binance processes and broadcasts your transaction (which takes a few minutes), the transfer then needs confirmations from miners, which typically takes between 10 and 60 minutes. During periods of high network congestion, this process can take longer. Once the funds appear in your wallet's pending balance, they are considered secure.
There are many cold wallet options on the market. The best ones are open-source and air-gapped. Open-source wallets can be reviewed by independent auditors, ensuring that there are no backdoors or hidden vulnerabilities. With an airgapped wallet, your private keys are kept completely offline, reducing exposure to online attacks and software vulnerabilities.
The most common reasons why you can't withdraw bitcoin from Binance include incomplete verification, security holds placed after logging in from a new device, or an internal risk review temporarily freezing withdrawals. The exchange might also pause withdrawals during wallet maintenance or network congestion, or because of a change of login credentials.
The primary way to cash out from Binance directly is to sell your bitcoin and then withdraw the fiat to a linked bank account. On Binance, you would navigate to the 'Buy' or 'Sell' section, execute a sell order for your BTC, and then initiate a withdrawal from your USD (or other fiat) balance to your bank. The time for the funds to reach your bank depends on your withdrawal method and region and can range from nearly instant to several business days.
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