You may have recently withdrawn money or cryptocurrencies from Binance, but they didn’t arrive as you expected.
And you might be wondering how long do Binance withdrawals take.
And unfortunately, there is no single answer for that. It depends on how each blockchain is built.
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In this guide, you will learn how long do Binance withdrawals take and why might Binance withdrawals be taking more than expected. Let’s dive in!
How long do Binance withdrawals take
Binance withdrawals will usually take anywhere between 30 to 60 minutes to complete.
Soon after you confirm your withdrawal a TxID (Transaction ID) will be generated. Thanks to the transaction ID you can watch the progress of your transaction. How many confirmations have you got so far and what’s the transaction status. The number of needed confirmations also greatly influences the withdrawal time.
However, the mentioned 30 to 60 minutes of processing time is the case for frequently used networks. And it all comes down to how the network is built.
For instance, Harmony ONE transactions can be completed in one minute. On the other hand, you will probably wait for nearly two hours for the BCH transaction to complete.
How to check withdrawal status on Binance
If you wish to check the status of your Binance withdrawal to estimate how long will the withdrawal take go to the Binance transaction history page.
First, go to the account overview.
Here you have two options. You can either click “recent transactions” and “view all”, or you can select “Transaction history” on the top. Both will get you on the same page.
This way you will see your transaction history. Set the transaction type to “withdrawal” to check your recent withdrawals.
There are two possible transaction statuses: “Processing” and “Completed”. If your withdrawal status is Completed, it means that you should have your crypto already in your wallet. We will look into what to do if your withdrawal has not arrived in a second.
On the other hand, if your withdrawal status is Processing it means that you need to keep waiting. But you can examine the transaction to find out what is going on.
Why is Binance withdrawal stuck at processing status
I can see the Transaction ID
The first thing first try to find out if your TxID (Transaction ID) was already generated. Transaction ID should be generated in 30 to 60 minutes.
If you can’t see your transaction on the transaction history page, it means that Binance has not yet processed your withdrawal.
If you are waiting for more than an hour you might be facing a Binance network issue. This is often the place if there has been a recent system upgrade. And this is an issue on Binance’s end, not yours.
If that’s the case, you need to contact Binance support.
I can’t see the Transaction ID
But if you can see your withdrawal in the transaction history it means that the transaction was sent successfully to the blockchain for confirmation.
In this case, you will also see the required amount of confirmations from the network. Remember that number and copy your transaction ID, or click on the little chain icon.
Now go to the Block Explorer of the network through which you make your withdrawal. Or the chain icon will redirect you there. And paste your TxID in there to view details about your transaction.
For instance, this is the Bitcoin Cash Block explorer and one of the recent transactions. As you can see the transaction has 1 of 6 required confirmations.
How to use this information to estimate how long would your Binance withdrawal take?
Now, all there is left to do is to open google or another search engine and type in “*your coin* confirmation time”.
We will list some of the well-known coins and their confirmation times here.
|Bitcoin Cash (BCH)||10 minutes per block|
|Bitcoin (BTC)||10 minutes per block|
|Ethereum (ETH)||12 seconds per block|
|Avalanche (AVAX)||4,500 transactions per second|
|XRP (XRP)||1,500 transactions per second|
|Cardano (ADA)||20 seconds per block|
As you can see some coins will arrive in your wallet within a second, while others will take dozens of minutes.
Also, as we included XRP in this list, it is worth mentioning, that XRP requires you to use a Memo. So don’t forget to fill it in, or your funds will be lost.
What should I do if my Binance withdrawal has not arrived
It all depends on how long have you been waiting for your Binance transaction. As we explained in the table above, some coins – like BTC or BCH have longer transaction times, because it takes a longer period of time to mine one block. And if you need 12 confirmations, it will take at least 12 times 10 minutes.
As a rule of thumb, if your Binance withdrawal hasn’t arrived within 6 hours of you placing it something is wrong. And you should contact Binance support.
But don’t panic if your withdrawal hasn’t arrived after 20 minutes. It is completely normal and you should keep waiting.
To contact Binance support log in to the Binance website with your account. In the bottom right corner, you will see a little chat icon. Click on that to open a live chat.
First, in order to be assigned to someone who can help you, you will need to choose what you have an issue with. In the live chat select “Crypto Withdrawal” followed by “Crypto withdrawal not arrived”.
You will then be connected to live support to whom you need to thoroughly explain what happened so they can help you.
If you are asking yourself how long do Binance withdrawals take, it depends. But you need to be prepared to wait, sometimes even for a couple of hours.
It all comes down to what network you are using.
If you are still waiting for more than 6 hours contact the Binance live support for assistance.