How to Transfer or Withdraw Ethereum from Binance to MetaMask

You might be required to deposit the Ether safely (ETH) purchased at Binance into your MetaMask wallet, or you might want to withdraw or transfer your ETH into MetaMask to buy Ethereum-based NFTs in the marketplace.

You are depositing cryptocurrencies in a very secured crypto wallet, which is always a good practice. To Withdraw, deposit, or transfer Ethereum from Binance to MetaMask is pretty straightforward. You need is your MetaMask wallet address and any amount of Ethereum to send.

 

Binance

Binance was a relative newcomer to the Cryptocurrency space, which was founded in 2017 by Changpeng Zhao. It has grown very fast to be the largest exchange globally by volume and offers users access to hundreds of cryptocurrencies. This is available in more than 180 countries worldwide, though they did have to spin off a separate entity, Binance US, specifically for United States users.

This is available in more than 180 countries worldwide, but they built a separate platform for U.S.-based users due to strict KYC (Know Your Customer) and anti-money laundering restrictions required by the U.S.

 

Pros of binance

There are many Pros of binance, and these are as follows:

  • Low fees
  • Multiple transaction types
  • The high number of cryptocurrencies supported

 

Cons of binance

Apart from Pros, there are some cons also, and these are as follows:

  • Only a limited version of Binance is available to U.S. users

 

Trade options in binance

There are a variety of trade options available. Binance offers one of the largest trading-based arrays on any exchange. Here is a small list of some of the trade options available:

  • Limit order and Market order
  • Stop limit order and Stop market order
  • Trailing stop order
  • Post only orders and One-cancels-the-other (OCO) orders
  • Time in force limits orders
  • Limit TP/SL order (strategy order)
  • Margin trading and Pool liquidity
  • Peer-to-peer trading
  • Guess the price battles

 

Types of transections in binance

  • Buy & Sell
  • Trade, Deposit, Withdraw
  • Stop order, limit order
  • Margins options & futures trading

 

How to send Ethereum from Binance to MetaMask

Copy your ETH address from MetaMask:

  • The first step is copying your ETH (Ethereum) address from the metamask. And to do that, you must first open the MetaMask extension on Chrome.
  • Now you can open the MetaMask extension by clicking on the puzzle icon on the top navigation bar of Chrome.
  • Next, click on the MetaMask extension available to open it.
  • After that, log in to your MetaMask wallet or import it using your recovery phrase.
  • And once you’re in your purse, make sure that the “Ethereum Mainnet” network is selected.
  • And lastly, click the duplicate icon to copy your ETH address.

 

Log in to your Binance account

When you’ve copied your ETH address from MetaMask, you need to log in to your Binance account.

  • Firstly, go to the Binance website by clicking on this link: https://www.binance.com/.
  • You can use the Binance mobile app, too, for this.
  • Once you’re on Binance, you can click on “Log In” on the top navigation bar to go to the login page.
  • Enter your email address and password in the field of “email” and “password”, respectively.
  • And next, click on “Log In” to log in to your Binance account.

 

Navigate to your fiat and spot wallet

  • After logging in to your Binance account, you’ll land on the homepage.
  • You have to navigate to your Fiat and Spot wallet where your Ethereum wallet is.
  • You can see the wallet option; click on “Wallet” to expand it.
  • And after you’ve clicked on “Wallet”, a navigation drawer will open.
  • The navigation drawer contains multiple options.
  • This includes the “Overview”, “Fiat and Spot”, “Margin”, and more.
  • Click on “Fiat and Spot” to your fiat and spot wallet.
  • Click on “Withdraw” next to “ETH.”
  • After clicking on “Fiat and Spot”, you’ll land on the “Fiat and Spot” page.
  • On this page, you will see your Fiat and Spot balance.
  • This page also lists your Cryptocurrency balance.
  • Now Scroll down the page until you reach the “Crypto Balance” header.
  • Under the “Crypto Balance” header, you must search the “Ethereum” option.
  • On your Ethereum balance, you’ll be able to buy, deposit, withdraw, trade, or convert your Ethereum.
  • Now, click on “Withdraw” next to “ETH” to go to the Ethereum withdrawal page.

 

Send your Ethereum to MetaMask

  • After clicking on the “Withdraw” option, you’ll land on the Ethereum withdrawal page.
  • You’ll see the two dropdown boxes and two fields on the page.
  • This includes some options like- “Coin”, “Address”, “Network”, and “Amount”. Firstly, ensure that “Ethereum” is selected from the “Coin” dropdown box.
  • And after “Ethereum” is selected, here’s a step-by-step guide on what to do next:
  1. Paste your ETH address from MetaMask in the “Address” field.
  2. Select the “ERC20” community from the “Network” dropdown box.
  3. Enter the amount of ETH you want to send in the “Amount” field.
  4. Click on “Withdraw” to ship your Ethereum from Binance to MetaMask.
  5. You can get your ETH address from MetaMask through following the primary step.

Now, ensure that you’ve selected the “ERC20” network and not another network. Or, your funds will be lost, and Binance will not be able to recover them for you.

Keep in thoughts that the minimal ETH withdrawal amount for the ERC20 community is 0.007.

In addition, if there may be an ongoing device improve on Binance, you won’t be capable of make withdrawals. Withdrawals can be suspended till the device upgrade is complete. The withdrawal process will take approximately 30 to 60 mins to complete. If there is network congestion, it might take longer than 60 minutes to complete.

 

FAQs

What is Meta Mask?

Ans. Meta mask is a secure crypto wallet built to connect with Ethereum blockchains & dApps (decentralized applications).

What is Ethereum?

Ans. Ethereum is the 2nd biggest cryptocurrency by market cap after Bitcoin.

Is Meta Mask only for Ethereum?

Ans. As of now, Meta Mask only functions under the Ethereum blockchain and supports everything else under it.

 

Conclusion

As we know, Binance is very safe and most suitable if you want to trade. The fees are meagre & the trades are executed very fast. On the other hand, Metamask is a wallet where you can store coins for long term holding and control. If you want to trade regularly, then keeping the money on exchange is good, but if you are an investor and are in for long term Investing and want to keep your coins to yourself, you can transfer it to digital wallets like Metamask. Safety-wise, both Metamask and Binance are entirely safe and are accepted worldwide.

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