Binance ranks among the top ten global cryptocurrency exchanges, favored by users for trading digital assets. However, many encounter challenges during withdrawals. This comprehensive guide covers both web and mobile app processes, addressing frequent errors and solutions.
Why Withdrawals Fail: Key Reasons
Pending Status
- Occurs due to high withdrawal volume. Transactions are processed in the order they’re received—no manual intervention is possible.
- Solution: Wait patiently for system processing.
Manual Review Triggered
- Random audits may require additional documentation.
- Solution: Submit requested details to expedite approval.
Blockchain Delays
- Successful withdrawals depend on network confirmations.
- Issue: If funds don’t reflect despite blockchain confirmation, contact the receiving platform.
Top 3 Withdrawal Errors & Fixes
1. Network Selection Mismatch
- Cause: Sending tokens via incompatible chains (e.g., ERC-20 to BEP-20).
- Prevention: Double-check the recipient’s network before withdrawing.
👉 View Binance’s network guide
2. Missing/Incorrect Memo Tag
- Critical for: XRP, EOS, etc.
- Fix: Always include the memo tag provided by the destination exchange/wallet.
3. Blockchain Congestion
- Signs: Unconfirmed transactions on the blockchain explorer.
- Action: Track status via TxID; delays resolve as miners process transactions.
Step-by-Step Withdrawal Tutorials
Web Version
- Log in → Navigate to Wallet → Withdraw.
Select currency and enter:
- Destination address (verify accuracy).
- Amount (meets minimum limits).
- Confirm details and complete 2FA.
Mobile App
- Tap Assets → Withdraw.
- Paste the recipient wallet address.
- Choose the correct network (e.g., ERC-20 for Ethereum).
- Submit and authenticate via email/SMS.
FAQ Section
Q1: How long do withdrawals take?
- Crypto: 5–30 minutes (varies by network congestion).
- Fiat: 1–3 business days.
Q2: What if I sent tokens to the wrong network?
- Contact the receiving platform’s support; recovery isn’t guaranteed.
Q3: Why is my withdrawal “Under Review”?
- Binance performs random security checks. Provide ID if requested.
Pro Tips
- Test transactions: Send a small amount first.
- Whitelist addresses: Enable this feature in Binance for added security.
👉 Explore advanced security settings
Disclaimer: Cryptocurrency investments involve risk. Ensure compliance with local regulations.