Send BTC - Binance Wallet to Exodus Wallet

hugeblack

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Quote from: ratas on September 10, 2021, 05:24:10 AM

What network i choose? BTC? ERC20 ?

Is for exodus wallet

If you want to hold bitcoins, you will have to use a well-reviewed open source wallet like electrum wallet.
As for the withdrawal option, Binance platform will choose BTC network for you if you paste the address that you will get from exodus.
As for other chains, they are wrapped tokens^[1] and I do not advise you to exchange to them.

for more about wrapped tokens ---> https://academy.binance.com/en/articles/what-are-wrapped-tokens

[1] https://research.binance.com/en/projects/wrapped-bitcoin

bitmover

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Quote from: ratas on September 10, 2021, 05:24:10 AM

When try send BTC, from binance wallet to exodus,appear what network to use (with fees)

- BTC
- ERC20

BEP20 and BEP2 i think is out from my choose.

What network i choose? BTC? ERC20 ?

Quote from: Lucius on September 10, 2021, 05:39:51 AM

The point is pretty clear, if you want to send Bitcoin (BTC) then you will choose the Bitcoin network - no matter which wallet you send your transaction to. You cannot perform BTC transactions using some other networks and thus save on a fee.

Additionally to what Lucius said, there are multiple "networks" to choose from, and only one of them is the bitcoin network.

When you paste your bitcoin address in the address box, all unmatched networks will be unselected, making your choice easier:

What are all those networks?

ERC-20, BNB and BSC chains are tokens which are, theoretically, pegged to BTC. Each 1 token in that chain is backed up by 1 BTC. People use those networks mainly to use Uniswap and other decentralized exchanges, making non-kyc trades. There is an additional risk holding coins in those chains, as we need to trust that the emissor really hold 1 BTC for each 1 token.

ratas

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Quote from: Lucius on September 10, 2021, 05:39:51 AM

The point is pretty clear, if you want to send Bitcoin (BTC) then you will choose the Bitcoin network - no matter which wallet you send your transaction to. You cannot perform BTC transactions using some other networks and thus save on a fee.

In the Binance FAQ you have a fairly detailed explanation of everything for deposit and withdraw, read carefully and you will find everything that interests you.

How Do I Deposit/Withdraw Cryptocurrency on Binance

Many Thanks for the help.

Lucius

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The point is pretty clear, if you want to send Bitcoin (BTC) then you will choose the Bitcoin network - no matter which wallet you send your transaction to. You cannot perform BTC transactions using some other networks and thus save on a fee.

In the Binance FAQ you have a fairly detailed explanation of everything for deposit and withdraw, read carefully and you will find everything that interests you.

How Do I Deposit/Withdraw Cryptocurrency on Binance

ratas

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hello ,sorry if this as note the place for this topic

But as a newbin, and after some errors, i ask ,for some maybe a full question,but for me an inportant question

When try send BTC, from binance wallet to exodus,appear what network to use (with fees)

- BTC
- ERC20

BEP20 and BEP2 i think is out from my choose.

What network i choose? BTC? ERC20 ?

Is for exodus wallet

MANY THX IN ADV FOR HELP

Topic: Send BTC - Binance Wallet to Exodus Wallet (Read 125 times)