Understanding Cross-Exchange Transfers
Cryptocurrency transfers between exchanges like Binance and OKX involve two critical factors:
- Coin Selection: Choose the cryptocurrency you want to transfer (e.g., USDT, Bitcoin, Ethereum).
- Network Choice: Select the blockchain network (e.g., TRC20, ERC20, Arbitrum).
👉 Secure your crypto transfers with OKX's low-fee networks
Step-by-Step Transfer Process
1. Key Principles for Safe Transfers
Network Matching: Withdrawal and deposit networks must match. Example:
- OKX (TRC20) → Binance (TRC20) = ✅ Successful
- OKX (Arbitrum) → Binance (Polygon) = ❌ Risky (mismatched networks)
Gas Fees: Paid to miners for on-chain transactions. Fees vary by network:
Network Speed Fee Range Nickname ERC20 Medium High "Noble Chain" TRC20 Fast Low Budget Option Solana Fastest Very Low Speed King
2. Executing the Transfer (OKX to Binance)
OKX Side:
- Navigate to 【Assets】 → 【Withdraw】 → Select USDT.
- Choose "On-chain withdrawal" and pick TRC20 (example).
Binance Side:
- Click 【Deposit】 → Select USDT-TRC20.
- Copy Binance’s deposit address into OKX’s recipient field.
Adjust Amounts:
- To receive 100 USDT, send 103 USDT (covering the 3 USDT fee).
- Confirm via security authentication (SMS/2FA).
3. Post-Transfer Checks
- Track progress under 【Recent Withdrawals】.
- Wait for blockchain confirmations (time varies by network).
FAQs: Addressing Common Concerns
Q1: Must withdrawals use the same network as deposits?
A: No. Exchanges allow independent network selection for withdrawals.
Q2: What if I send funds to the wrong network?
A: Contact the exchange’s support immediately. Recovery isn’t guaranteed but possible in some cases.
Q3: Why are ERC20 fees higher than TRC20?
A: ERC20 runs on Ethereum’s congested network, requiring higher gas fees for priority processing.
Q4: How long do transfers typically take?
A:
- TRC20/Solana: 2–5 minutes
- ERC20: 10–30 minutes
- Bitcoin: 30+ minutes (varies with congestion)
Pro Tips for Beginners
- Test First: Always perform a small test transfer.
- Double-Check: Verify addresses and networks before submission.
- Cost Optimization: Use low-fee networks like TRC20 for frequent transfers.
👉 Explore OKX’s multi-chain support for seamless crypto moves
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