Apr 13, 2019 21:30 UTC
Apr 13, 2019 at 21:30 UTC
For the frequent crypto trader, it is often common to move one’s holdings from one crypto exchange to another. Considering that Coinbase and Binance are both top cryptocurrency exchanges in the market, users often shift from one to the other depending on what services or advantages are being offered by one of them at the moment. But, before you begin the transfer, you must have stopped and wondered: how long does it take to transfer from Binance to Coinbase?
Do you have to block off an entire hour or can you just conveniently sit down with a cup of tea and complete the transfer before you gulp down all of that tea?
These might sound silly but are nevertheless important considerations to think of if you are hard pressed for time. So we thought we should go looking for some answers.
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Time Taken For A Binance – Coinbase Transfer
For getting an insight into what is really happening in the crypto markets and how crypto traders are experiencing things on a day to day basis, it would be a good idea to check out their actual conversations.
Now, in the real world, you are likely to run into a rather small number of people who are actually into crypto. So l, who do you ask?
Ideally, conversations among crypto users, enthusiasts and traders are common on sites as Telegram and on Reddit threads dedicated to a particular issue. We went looking on Reddit and given that it is often used for finding answers to questions about the crypto world, we were not too disappointed.
Now, most users tend to opine that it will not take you A LOT of time but the time taken will definitely depend on what kind of cryptocurrency you are trying to move from one exchange to the other.
If it is top cryptocurrency Bitcoin that you are trying to transfer, chances are you will need more than just a cup tea to keep you occupied.
Bitcoin is notorious for being slow in the crypto world and with a block time of 10 minutes and a requirement of six confirmations, it takes up quite a bit of time during a transfer.
While few users said that they got done within 20 to 30 minutes, some pegged the upper limit of the time needed at 2 hours. So if you are transferring a substantial amount of Bitcoin from Binance to Coinbase, make sure you remember to make plans accordingly.
For other cryptocurrencies, the time taken can often be a lot lower. For Ether, particularly, users often said that they got done within 5-10 of even 20 minutes.
To be on the safe side, you can take that time to be around half an hour. Therefore depending on the speed of cryptocurrencies in general, you can estimate how long it will take to make that transfer.
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