Page Summary
Binance is a top crypto exchange for UAE traders. It offers access to straightforward platforms with user-friendly interfaces. Binance supports 50+ digital assets, including crypto and fiat money. The Binance exchange offers many funding options like bank transfers. This article discusses how to withdraw money from Binance to a UAE bank account.
Step-By-Step Guide On How To Withdraw Funds From Binance To Your UAE Account
01. Access Your Digital Wallet
The first step is to access the Binance withdrawal page. Use the upper menu to go to your Wallet. Here you have to choose the Funding Wallet option to transfer money.
02. Select The Currency You Want To Withdraw
After selecting the Wallet, you have to choose the currency. Most UAE users use USDT. Afterward, click on Transfer from your Binance account. Binance withdrawal times might vary.
03. Transfer Your Funds To The Wallet
The next step is to select the amount of USDT you want to transfer. The transaction will go from your Spot Wallet to your Funding Wallet.
04. Use P2P To Sell Your USDT
Use the same menu to sell your USDT through P2P. Click on the Buy/Sell Option. This will redirect you to the Peer-to-Peer transactions P2P on the Binance platform.
05. Change The Currency
Click on the Selling Option and search for the preferred currency. Select AED for all payments to withdraw from Binance to an UAE bank account.
06. Select Bank Transfer
After you switch the currency to AED, you’ll have to choose the Bank Transfer funding option. UAE residents receive cash deposits via bank accounts, Western Union, and Skrill. Other payment methods might be available depending on your location.
07. Choose A Peer
Search for the best exchange rate for your funds. Select the peers with the highest completion rates for the best results. After you find the right peer, click on Sell USDT.
08. Choose The Quantity
Submit the quantity of USDT you want to sell. Use the Set A Payment Method option to initiate the process.
09. Add A Payment Method
After selecting the USDT, you will have to add a payment method. UAE traders prefer using bank transfers because of the lower fees. Ensure you submit accurate account details to withdraw money. Bank account information is necessary for transferring funds to a UAE bank account.
10. Finalize The Transaction
The last step is to finalize the transaction. It usually takes a couple of minutes for the buyer to transfer the money to your account. You’ll receive a notification as soon as the transaction completes.
Summary
Withdrawing funds from Binance to UAE bank accounts is straightforward. Account holders have to follow the steps listed above for a user-friendly experience. Check our in-depth reviews to learn more about cryptocurrency exchanges and funding options.
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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.