Many traders think to transfer crypto from Binance to Bybit is as easy as pasting a wallet address, until they lose money by picking the wrong network. One wrong click can wipe out your hard earned funds forever.
Whether you’re moving crypto to catch a better trade on Bybit or just diversifying your holdings, knowing how to transfer from Binance safely can save you stress, time, and loss.
This guide shows you the safest and simplest way to transfer crypto from Binance to Bybit, step by step, .
How to Transfer from Binance to Bybit
In this guide, I’ll walk you through the process step by step, with screenshots, showing how to transfer USDT from Binance to Bybit. The same steps apply if you’re transferring any other cryptocurrency, so feel free to follow along with your preferred coin.
1. Get Your Deposit Address
The process depends on whether you’re sending funds to your own Bybit account or to someone else’s wallet.
Sending to Someone Else’s Wallet:
- Ask the recipient for their crypto wallet address.
Sending to Your Bybit Account:
- Log in to Bybit.
- Click on the ‘Assets’ section and select ‘Deposit’ from the drop-down menu that will appear.
After you click on ‘Deposit,’ continue by selecting the cryptocurrency you want to receive from Binance, such as Bitcoin (BTC), Ethereum (ETH), or Dogecoin (DOGE).
For this example, we’ll use Bitcoin:
- Choose Bitcoin (BTC) from the list.
- Review the Chain Type, which shows how Bitcoin transactions are processed.
- Click ‘Acknowledge’ to display your Bitcoin wallet address.
Your Bitcoin wallet address will appear on the screen.
Copy this address.
Go to Binance and paste the copied address to start the transfer.
2. Transfer Crypto From Binance to Your Bybit Wallet Address
To transfer your cryptocurrency from Binance to Bybit, follow these steps:
Access Your Binance Wallet:
- Log in to your Binance account.
- Navigate to your Wallet and select ‘Fiat and Spot‘ from the drop-down.
- Note: If you don’t have a Binance account, you can create one here.
NEXT:
- Initiate the transfer by clicking on the ‘Withdraw‘ button.
NEXT:
- Choose the cryptocurrency you want to transfer from Binance to Bybit.
- Paste the wallet address you copied from your Bybit account into the required field on Binance.
- Enter the Amount of cryptocurrency you want to transfer to Bybit.
- Double-check all the details to ensure they are correct.
- Once you are certain, click the ‘Withdraw’ button to finalize the transfer.
Tip: The ‘Network‘ on Binance is the same as the ‘Chain Type’ on Bybit.
That’s it!
So, transferring your crypto from Binance to Bybit involves these simple steps:
- Access Wallet: Log in to your Binance dashboard and go to the ‘Wallet’ section.
- Initiate Withdrawal: Click on ‘Withdraw’ to start the transfer process.
- Select Cryptocurrency: Choose the cryptocurrency type that matches your Bybit setup (e.g., Bitcoin, Ethereum).
- Enter Bybit Address: Copy the deposit address from Bybit and paste it into the ‘withdrawal address’ field on Binance.
- Specify Amount: Enter the amount to transfer and note any withdrawal fees.
- Confirm Withdrawal: Review all details and confirm the withdrawal.
And that’s it! Your cryptocurrency will be on its way from Binance to Bybit. Easy and straightforward!
Additional Resources:
- Top Mistakes to Avoid When Using Crypto Exchanges
- Best Crypto Exchanges to Use
- 7 Best Ways to Protect Your Crypto From Being Stolen
- Common Mistakes Crypto Investors and Traders Make
- How to Start Trading Crypto Successfully as a Beginner
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DISCLAIMER:
The information provided here is for informational purposes only. Do not rely solely on it for making investment decisions. It is not financial, tax, legal, or accounting advice. Always do your own research or consult a financial advisor before investing in cryptocurrency.