Binance To M-Pesa: How To Withdraw money From Binance To M-Pesa

Learn how to withdraw your digital assets effortlessly with this step-by-step guide from Binance to M-Pesa.

Apr 15, 2024 - 10:26
Apr 15, 2024 - 13:20
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Binance To M-Pesa: How To Withdraw money From Binance To M-Pesa
Binance To M-Pesa: How To Withdraw money From Binance To M-Pesa

Withdrawing from Binance to M-Pesa is an easy, straightforward process that lets you transfer your digital assets efficiently. This step-by-step guide will walk you through the procedure and provide tips to ensure a smooth withdrawal process. Before delving into the withdrawal process, it's crucial to understand what Binance and M-Pesa are.

Binance is a leading cryptocurrency exchange platform that offers a range of services such as spot trading, margin trading, futures trading, and staking. M-Pesa, on the other hand, is a mobile money transfer service widely adopted in Kenya, Tanzania, and other African countries for sending and receiving money, paying bills, and buying airtime.

How to Set Up M-Pesa on Binance

Before withdrawing funds from Binance to M-Pesa, you must first set up M-Pesa as a withdrawal method on Binance. Here are the steps:

  • Log in to your Binance account.
  • Go to the "Funds" tab.
  • Click on the "Withdraw" button.
  • Select "M-Pesa" from the withdrawal methods list.
  • Enter your M-Pesa phone number in the "Recipient Phone Number" field.
  • Specify the amount you wish to withdraw.
  • Click "Submit" to initiate the withdrawal process.

Withdrawing Cryptocurrency from Binance to M-Pesa

Once M-Pesa is set up as a withdrawal method, follow these steps to withdraw your cryptocurrency:

  • Go to the "Funds" tab and click "Withdraw."
  • Select the "Crypto" tab.
  • Choose the cryptocurrency you wish to withdraw.
  • Choose the "M-Pesa" network as the withdrawal destination.
  • Enter the recipient's BNB address.
  • Specify the withdrawal amount.
  • Click "Send Code" to receive a verification code.
  • Enter the received six-digit code and your two-factor authentication (2FA) code.
  • Click "Submit" to initiate the withdrawal process.

Withdrawing Fiat Currency from Binance to M-Pesa

To withdraw fiat currency, follow steps 1-3 as above but select the "Fiat" tab. Then:

  • Choose the fiat currency and payment method.
  • Provide the necessary details and follow the instructions.
  • Enter your verification code to confirm the withdrawal.

Fees and Limits

Binance charges a variable withdrawal fee based on the asset and withdrawal destination. Minimum and maximum withdrawal amounts apply, and you can check these on the Binance website.

Tips for a Successful Withdrawal Process

  • Double-check all details before initiating a withdrawal.
  • Be patient; the process can take several minutes.
  • Contact Binance's customer support team if you encounter issues.
  • Comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.

READ  ALSO: How to Buy Bitcoin in Kenya using M-Pesa on Binance P2P: A Comprehensive Guide

Conclusion

Withdrawing funds from Binance to M-Pesa is straightforward and efficient, allowing you to move your digital assets with ease. Remember to follow all the necessary procedures, and you'll have a seamless withdrawal experience.

Disclaimer!!!

This article is intended to serve as a guide and is for informational purposes only. It does not constitute financial advice. Before engaging in any financial transactions, you should consult with a professional financial advisor.

Joseph Richard Joseph Richard is a distinguished contributor to sledge.co.ke, where he leverages his extensive background in finance, business, and technology to provide insightful guides and analyses. With over a decade of experience in Kenya's dynamic market, Joseph has become a trusted voice in helping individuals navigate complex topics with ease. His work, recognized for its clarity and reliability, spans critical reviews, educational content, and comprehensive guides on making informed decisions in finance and business. Joseph's commitment to empowering Kenyans through accessible information underscores his reputation as a dependable and authoritative figure in the industry