About Binance's withdrawal | Bitcointalksearch.org

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: Plaguedeath on November 11, 2022, 05:57:20 AM

Right now every exchanges and wallet already support it, so it doesn't have any problem if you want to send from legacy to segwit or legacy to native segwit and vice versa.

Not all, not every. Bech32 adoption shows that.

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BSC chain isn't a Bitcoin exchange

A blockchain and an exchange are different terms, you should not make them as the same. If you want to compare, you should compare Bitcoin blockchain and Binance Smart Chain. If you want to compare exchanges, let's compare Pancakeswap (for Binance Smart Chain) and Uniswap (for Ethereum blockchain) or something similar for other blockchains.

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it's a shitcoin chain that's centralized created by CZ.

Did you use Binance Smart Chain?

I disagree to call everything as shit coin or shit chain just to try make your post stronger and impressive.

ButtersCooper

newbie

Activity: 2

Merit: 1

Quote from: OmegaStarScream on November 11, 2022, 05:45:14 AM

No, I understand that the low fees can be tempting but you shouldn't use the BSC network for BTC, that's not the real bitcoin. Use BTC instead.

You won't be able to withdraw your BTC via BSC network when using bitcoin core anyway since they have different address formats.

Thank you so much! I love you!

Plaguedeath

hero member

Activity: 672

Merit: 557

What do you need to understand there's 3 major Bitcoin address, it's legacy, segwit and native segwit. Right now every exchanges and wallet already support it, so it doesn't have any problem if you want to send from legacy to segwit or legacy to native segwit and vice versa. There's new improvement that called as taproot address, it's still new and not many exchanges or wallet still support it.

BSC chain isn't a Bitcoin exchange, it's a shitcoin chain that's centralized created by CZ.

tranthidung

legendary

Activity: 2170

Merit: 3858

Farewell o_e_l_e_o

Quote from: ButtersCooper on November 11, 2022, 05:40:41 AM

I wonder which "wallet-ui-label-network" should I choose. I see there are BSC, BTC, BNB & ETH networks.

You should read their warning that means both from and to address should match with each other on a same network.

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Please ensure your receiving platform supports the token and network you are withdrawing. If you are unsure, kindly check with the receiving platform first.

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BSC's miner fee is lower than BTC.

Not correct. It is not miner fee but a withdrawal fee charged by Binance.

In addition, BSC is not a Proof of Work blockchain so no miner on that chain. Usually withdrawal fees from exchanges are more expensive than average transaction fees on blockchains if you make your transactions from non-custodial wallets.

Old story. Exchanges get profits from users' withdrawal fees.

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My BTC address is generated by Bitcoin-core official client. I don't know what kind of network does it support. Can I choose BSC and send my BTC to my address? Or it wouldn't work? Must I choose BTC network?

Because of your receiving address is Bitcoin address (real Bitcoin, not a token on BSC or other chains), you should choose BTC (Bitcoin) on Binance to submit your withdrawal request.

For your receiving address, from Bitcoin Core, you should choose Segwit type because with this address type, later you will have to spend less transaction fee.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

No, I understand that the low fees can be tempting but you shouldn't use the BSC network for BTC, that's not the real bitcoin. Use BTC instead.

You won't be able to withdraw your BTC via BSC network when using bitcoin core anyway since they have different address formats.

ButtersCooper

newbie

Activity: 2

Merit: 1

Hello everyone. I bought some BTC on binance lately. I wonder which "wallet-ui-label-network" should I choose. I see there are BSC, BTC, BNB & ETH networks. BSC's miner fee is lower than BTC.
My BTC address is generated by Bitcoin-core official client. I don't know what kind of network does it support. Can I choose BSC and send my BTC to my address? Or it wouldn't work? Must I choose BTC network?
Yeah, it's a super noob question. Could any good man tell me?

Topic: About Binance's withdrawal (Read 75 times)