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I wanna be sure that it's possible. I want to transfer Bitcoin I bought on Binance for trading purposes, to an Electrum wallet. Is this possible? If yes, can you explain me how to do it?

Thank you very much.

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Yes it is possible, as long a Binance is willing to let you withdraw your coins.

Steps:

  • Open your electrum wallet. Open the 'Receive' tab, and copy the 'receiving address' to your clipboard.

  • Open Binance. Navigate to the page where you can initiate a withdrawal.

  • Paste the 'receiving address' from Electrum into Binance withdrawal form. Be sure to triple check that the address you pasted into Binance is exactly the same as the address that is showing in Electum

  • Submit the withdrawal to Binance, and then wait until they send you the coins. You will see confirmation of this in the Electrum wallet, as long as it is properly synced with the network.

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  • Thanks! It can work but unfortunately it is way too expensive, I guess it isn't made for low BTC purchases, so, whatever. Thanks again! – Just Kherty Mar 1 at 10:07
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NO, It is not possible. You will ge the error message: The address does not match the currently selected network, it is recommended that you switch to another network. Bitcoin or Etherum may even work, but at riddiculus fees (21,64€ for transfering 40€)

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  • You are mistaken, Binance allow the withdraw of bitcoin. – Saxtheowl Apr 30 at 9:44

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