Crypto Deposit Guide: Bybit to Binance Made Easy

A seamless crypto deposit is the first step to successful cryptocurrency trading, and Binance makes it simple and secure. Whether you’re transferring from Bybit or using your wallet, understanding the process is essential to avoid mistakes. Binance offers efficient deposit methods tailored to your needs. This guide will help you master the basics of crypto deposits on Binance.

Things to Know Before Making a Deposit on Binance

To begin depositing, you must first create a Binance account. Ensure you enable Two-Factor Authentication (2FA) to protect your account from hacking or unauthorized access.

Binance allows deposits in both fiat currency and cryptocurrency:
– Fiat deposits: bank transfer, credit/debit cards, P2P trading
– Cryptocurrency deposits: transferring assets from external wallets

– Wrong network selection: Choosing the incorrect network (e.g., BEP20 vs. ERC20) can lead to failed deposits.
– Address errors: Entering the wrong address can result in the loss of funds.

Binance Crypto Deposit Methods

1) Create Deposit Address on Binance

① Navigate to Assets: In the Binance app, tap on the “Assets” icon at the bottom navigation bar to access your wallet overview.
② Select Deposit: In the wallet overview, tap on the “Deposit” button to proceed with depositing cryptocurrency.
③ Search for the cryptocurrency: Use the search bar to find and select the cryptocurrency you want to deposit.

④ Choose Network: Select the appropriate network supported by your wallet.
⑤ Copy Deposit Address: After selecting the network, copy the provided deposit address.
⑥ Note Tag: Some cryptocurrencies require copying and using a “Tag” along with the “Deposit Address” when making a deposit. This tag is necessary to process the deposit correctly.

2) Transfer from Bybit to Binance

⑦ Navigate to Assets: In the Bybit app, click on the “Assets” icon in the bottom navigation bar.
⑧ Select Withdraw: In the “My Assets” section, tap on the “Withdraw” button to start the withdrawal process.
⑨ Select Cryptocurrency: Use the search bar to select the cryptocurrency you want to withdraw.

⑩ Enter Withdrawal Address: Input or paste the recipient’s withdrawal address in the “Address” field. Ensure it is accurate to prevent fund loss.
⑪ Select Network: Choose the appropriate network for the withdrawal, such as XRP Ledger, BEP20, or ERC20, matching the recipient’s wallet.
⑫ Input Tag/Memo: Paste the recipient’s withdrawal tag. This is important for proper fund allocation.
⑬ Specify Withdrawal Amount: Enter the desired amount for withdrawal and ensure it meets the minimum withdrawal requirement.
⑭ Initiate Withdrawal: Tap on the “Withdraw” button to proceed to the security verification step.
⑮ Confirm Withdrawal: Complete the security verification and tap “Confirm” to finalize the withdrawal process.

⑯ Enter Verification Code: Input the verification code sent to your registered email address. If needed, request to resend the code.
⑰ Input Google Authenticator Code: Enter the 2FA code generated by your Google Authenticator app to complete the security process.
⑱ Confirm Withdrawal: Tap “OK” to finalize your withdrawal request. You can check the withdrawal status in your withdrawal history.

⑲ View Asset History: In the Bybit “Asset History” tab, you can review your withdrawal
⑳ Check Transaction Status: In the Binance “Transaction History” tab, check the status of deposits and ensure transactions, such as deposits, are marked as “Completed.”

Crypto Deposit Issues and How to Solve Them

What to Do If Your Deposit Is Delayed

Recovering Funds Sent to the Wrong Address