Money stuck in Binance, UK. Too scared to withdraw it.

Reviol

Hi there, 

As the title says, I used to use Binance to mess around with cryptocurrency during lockdown as I was bored. Roll on a few years, and I could do with the money that is in my Binance but withdrawals are not supported from it to UK banks. So apparently I have to start a wallet somewhere else, then change the crypto into a stable coin, and thence into a different exchange to be able to get it. Does anyone have some knowledge on a safe way to do this please? I'm terrified I am going to get it wrong somehow and lose the cash. 

Step by step would be amazing, or pointers on the right way to do it would be great too. 

Many thanks all! 

la531983

Transfer the money to a Coinbase wallet and then withdraw from there. Convert everything you have into one currency (I would suggest Solana) on Binance, and then get the Solana wallet address from Coinbase and send it, just send a few quid first if you like to check its received correctly.

Reviol

brilliant, thank you. I've got Solana already so I'll give that a go. Why did you recommend Sol? I bought a few when it was about £40 and now it is £77, it was a fun few days while it went up, I missed selling at £90+ as I got carried away. It seems to have stopped now around the £80 mark, so I thought it might be a good time to quit, whilst ahead. 

la531983

Sol has next to zero sending fees.

Spike61

Hi, did this process work? I’m in the same situation and am looking for a way to withdraw to my UK bank account. 

Scottex99

It will work yep.

Choose a coin with low fees, LTC/SOL/XRP or even USDT on the Tron Network.

Get an account at Coinbase/Kraken or another of the big players that supports GBP.

Move a small amount of the coins from Binance to the new exchange, once that test lands, send the rest, convert to GBP and send to your bank.

Funnily enough SOL hit $240 last week

pecunianonolet

You could also convert to USDC and send it to Coinbase and keep it there. You get at the moment 4.35% APY on your USDC holdings. The USD is gaining momentum and gets stronger so you may want to keep an eye out on this before you convert as it could make a difference, depending on the sums.