Withdrawal small amount of BTC from Binance

harizen

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Quote from: kamvreto on March 02, 2023, 06:06:39 PM

The suggestion of holding on until the price goes up might be an option, but if the OP still wants to clean out his wallet, he should deposit more than $20 of BTC. $50 minimum is more than enough and it will also be reduced by a network fee of around $11 BTC.

But the current OP has never appeared to respond to much of the feedback given, whether he has solved the problem or just created a useless thread.

Just in case you missed it, OP did an update just a few posts above yours and the cashout attempt was successful.

OP's purpose is to cash out the BTC in fiat and not to withdraw the BTC.

As for added information, the minimum amount to cash out in Binance P2P varies per payment method (per country) and depends on the buyer's minimum set amount. In our case, here in our country, that $20 worth of BTC can be converted to our fiat currency thru Binance P2P as long as there's a buyer that accepts a minimum amount of that range.

Since the concern is now solved, OP can now consider locking this thread.

kamvreto

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Quote from: bittraffic on March 01, 2023, 11:25:14 AM

~snip~He probably just wants to clean out his Binance account but if it's just $20, I would suggest he just leave it there and wait for the price to go up at least he may double or triple the value at least.

The suggestion of holding on until the price goes up might be an option, but if the OP still wants to clean out his wallet, he should deposit more than $20 of BTC. $50 minimum is more than enough and it will also be reduced by a network fee of around $11 BTC.

But the current OP has never appeared to respond to much of the feedback given, whether he has solved the problem or just created a useless thread.

Edwardard

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Quote from: OmegaStarScream on March 02, 2023, 01:58:53 AM

I see a lot of people suggesting Binance's P2P but I don't think that would help. This probably depends on the payment method you want to withdraw to, but from what I've seen, most users are not willing to trade for such low amounts (as you can see in the limit/available column).

Depends on the country, some asian countries (like India) even got 5-6$ minimum payment limit using reputable p2p traders in binance.

Quote from: suprisethe on March 02, 2023, 08:36:55 AM

I want to say thank you for the suggestions.

I ended up converting to USDT and then sold the USDT as euro to my debit card and everything is fine.

BTW it wasn't about the amount of money it was just a waste to sit at forgotten account for anyone wondering.

Glad to see things worked out for you finally. You should consider locking the thread since your problem is solved now.

suprisethe

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I want to say thank you for the suggestions.

I ended up converting to USDT and then sold the USDT as euro to my debit card and everything is fine.

BTW it wasn't about the amount of money it was just a waste to sit at forgotten account for anyone wondering.

Potato Chips

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Afaik transfers between binance users should be free of charge so perhaps you could try to find a reputable user who's fine with that setup. I'm not sure what kind of payment channels do you have for fiat but it'd be best if it doesn't charge much for transfers and popular. You could try at the Currency Exchange board or in your local board - if that's allowed.

OmegaStarScream

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I see a lot of people suggesting Binance's P2P but I don't think that would help. This probably depends on the payment method you want to withdraw to, but from what I've seen, most users are not willing to trade for such low amounts (as you can see in the limit/available column).

leonair

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Binance minimum withdrawal limit is 0.001 bitcoins in the bitcoin network as of current bitcoin price is $23.5 but they will cut 0.0002 bitcoin as withdrawal fees around $4.70 that means you have to deposit another $4.70 if you want to withdrawal your full $20 from Binance.
you said you will cash your btc then you can use P2P trading facilities from binance p2p and sell your btc and make it cash directly. If you cash bitcoins. So what is the need to withdraw them at a cost of $4.7?

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Quote from: tranthidung on March 01, 2023, 10:12:09 AM

Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

You can simply sell your BTC to USDT and withdraw your USDT on TRC20 chain and sell those USDT later on other places like Remitano. Withdrawal fee with USDT on TRC-20 chain is only 1 USDT.

You can sell your USDT on Binance P2P too and cash it out to your fiat currency.

Op, this is your best option mentioned in the quote above. I would like to add that converting bitcoin to usdt is free on Binance because all bitcoin trading is free on the platform. This means that you will not lose anything out of the $20 you have.
You can easily sell that amount to anyone from your local area (you can find them in social media groups for bitcoin exchanges but make sure to deal with a trusted buyer) and he will hand you $20 directly, since the amount is small and transferring it in any way will require the intervention of a third party who will charge a commission that may spend a quarter of the amount as fees. The transfer from Binance will not cost you more than 1 dollar, and if the person who will buy from you has a verified account on Binance, you will be able to send your twenty dollars or any amount (it does not matter if it is Bitcoin or any other currency) for free. Don't forget to make sure that your account on Binance is verified.

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Yes, if there is no problem with your account you can withdraw after depositing another 20 bucks. But you can withdraw other crypto if you just exchange your BTC for another crypto. For example USDT, Binance minimum withdraws 10 USDT at this moment. So you can easily withdraw your $20 in USDT without a deposit again.

bittraffic

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Quote from: kamvreto on March 01, 2023, 11:03:00 AM

You can see complete information about withdrawal fees and minimum withdrawals at this link.
https://withdrawalfees.com/exchanges/binance

It is impossible to withdraw $ 20 because the minimum withdrawal is 0.001 BTC (not including fees) and you really have to add something like $ 20 in BTC again to be able to withdraw everything and calculate the fee that will be charged. The withdrawal fee on Binance is 0.0005 BTC or approx. $11.84. if you want to withdraw it in the form of Fiat you can immediately withdraw using P2P Services and there is a minimum order that must be fulfilled, because each P2P merchant has a different minimum order (according to their respective policies).

Merchants somehow set minimums which OP might not find someone who wants to buy BTC worth just $20 or if he does, the price could be lower than its value. It's worth the path if he just wanted to cash it out.

He probably just wants to clean out his Binance account but if it's just $20, I would suggest he just leave it there and wait for the price to go up at least he may double or triple the value at least.

kamvreto

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You can see complete information about withdrawal fees and minimum withdrawals at this link.
https://withdrawalfees.com/exchanges/binance

It is impossible to withdraw $ 20 because the minimum withdrawal is 0.001 BTC (not including fees) and you really have to add something like $ 20 in BTC again to be able to withdraw everything and calculate the fee that will be charged. The withdrawal fee on Binance is 0.0005 BTC or approx. $11.84. if you want to withdraw it in the form of Fiat you can immediately withdraw using P2P Services and there is a minimum order that must be fulfilled, because each P2P merchant has a different minimum order (according to their respective policies).

Rikafip

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From what I understand, OP doesn't want to withdraw bitcoin but instead he wants to cash out into fiat as he said he is "done with crypto" so all the advices about using other cryptocurrencies like Doge that have lower withdrawal fee won't really help him.

@suprisethe I never used Binance to cash out into fiat so I am not 100% sure, but it makes sense that if you add a couple of bucks more then you should be able to cash out the whole amount but ask yourself is that really worth all that hassle as Binance might ask you to do KYC again (they tend to do that a lot as of lately).

BitMaxz

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Like the other said you can use Binance P2P to directly withdraw them to your bank account or any payment method supported in your country.
Binance p2p only supports 7 Coins/Token BTC, ETH, USDT, BUSD, BNB, XRP, and SLP.
Since you said it's Bitcoin you don't need to exchange them for any coins you can directly find someone on P2P that can exchange that amount for cash or any payment method supported.

But the problem is if you are KYC verified?

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Did you verify your account or not? If you verify the account, you can transfer it to any low fees altcoin, withdraw it, and then try to sell it here or anywhere else for cash.
But if you do not verify the identity, then yes, adding $ 20 will enable you to withdraw, but most of your money will be lost on withdrawal fees.

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Convert to a more lower tier limit tokens so you could withdraw. Since you are stopping crypto now then sell it to usdt or fiat, as far as I know the limit is only little on usdt withdrawal.

You dont need to add more funds mate cause $20 could be withdraw even so thats huge already.

tranthidung

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

You don't have to deposit more.

Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

You can simply sell your BTC to USDT and withdraw your USDT on TRC20 chain and sell those USDT later on other places like Remitano. Withdrawal fee with USDT on TRC-20 chain is only 1 USDT.

You can sell your USDT on Binance P2P too and cash it out to your fiat currency.

Quote from: Cantsay on March 01, 2023, 10:05:42 AM

I haven't used Binance since a long time so I don't know their minimum withdrawal at the moment.

Usually, all exchanges have a link to their fee page at their landing page (likely at bottom of landing page).

Binance Deposit & Withdrawal fee.
Min withdrawal: 0.001 BTC

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If you're looking to withdraw cash then why don't you use Binance p2p service? That way you can sell without any additional charges and also it's still very fast within an hour you can get the cash without any stress.

Quote

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

For Binance you need a minimum of 6 confirmations before you can withdraw or trade with your deposited coin so the only limiting factor is if the 20 bucks is up to the minimum required for withdrawal, I haven't used Binance since a long time so I don't know their minimum withdrawal at the moment.

Edit:

I just checked my Binance account and the minimum withdrawal amount is 0.0012BTC (plus transaction fee) which is ~$30 which means you can't withdraw your $20 BTC at this moment but you can try to convert it to an altcoin with a smaller withdrawal limit and them withdraw to your wallet.

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

....
If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

When was the last time you used it? There could be policy changes that you're not aware yet. An example would be the need to pass their KYC verification before you can make any withdrawal there.

How about converting your BTC into an altcoin with a lower minimum withdrawal? Try looking into XRP or Doge. I don't use Binance anymore so you may have to check that yourself.

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The minimum withdrawal on Binance is 0.001 BTC, while the Network withdrawal fee can be up to 0.0002 BTC (at the moment). So if you want to withdraw Bitcoin from Binance you must have equal or more than 0.0012 BTC on your balance.
if you really just want to leave everything, I don't think there is a fee for a transfer between Binance users. Well, maybe you should try to find someone here to whom you would send coins to Binance and he would send them to your wallet or whatever is possible.

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Quote from: suprisethe on March 01, 2023, 09:25:18 AM

So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Do you really need those 20$?

I have never used Binance but if you wait a little while you will be able to cash them out without depositing anything. Wanting to withdraw $20 because 'I'm done with crypto' sounds to me like you were playing with money you couldn't afford to lose and without following basic money management rules.

suprisethe

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So recently discovered I have a small amount of BTC in Binance like under 20$ which is the lower limit to withdrawal as cash.
And I want to withdrawal them as "cash" because I'm done with crypto.

But I need the total to be over 20$.

If I deposit like another 20 bucks in BTC can I like instantly withdrawal the whole amount or there's some restrictions on that?

Topic: Withdrawal small amount of BTC from Binance (Read 273 times)