Can't Withdraw XLM From Binance? — Here's What To Do!

Frozen Crypto Funds Can't Withdraw XLM From Binance? — Here's What To Do!

Can't Withdraw XLM From Binance? — Here's What To Do!

Recently, cryptocurrency has been gaining popularity globally as more users get interested in investing in various coins as they move away from fiat currency. As a result, cryptocurrency exchange platforms like Binance have become key players in the industry as more users use them to buy and sell various coins and virtual tokens. However, users increasingly become frustrated when it gets complicated to withdraw XLM from Binance.

But worry not! DoNotPay provides a quick and successful resolution for your XLM withdrawal from your Binance account. Furthermore, DoNotPay can also help you unfreeze your Coinbase and Gemini accounts.

What is Binance?

Binance is a Hong Kong-based cryptocurrency exchange founded in 2017. Its name is derived from "Bitcoin" and "Finance." Binance offers traders a marketplace consisting of more than 600 cryptocurrencies and virtual tokens, reducing the need to use different exchanges whenever they want to buy or sell their assets. Some of the main cryptocurrencies featured in Binance include Bitcoin, Ethereum, Dogecoin, Litecoin, and its own Binance Coin.

Binance is mostly known for crypto-to-crypto trading between cryptocurrency pairs. Since Binance has high liquidity, it offers lower transaction costs and discounts compared to other crypto exchanges — this has attracted a significant number of global traders. In addition, the exchange boasts high-security standards and multi-clustered architecture, which can process around 1.6 million orders per second.

The Binance exchange supports three main trade orders. First, limit orders are completed only at the limit price set by the trader. Market orders are executed once they reach the best available market price, and stop limit orders are valid once the price reaches a specified level.

Other forms of trade orders offered in the Binance Exchange include:

  • Post only order
  • Stop market order
  • Trailing stop order
  • Limit TP/SL order

How to Withdraw Funds From Binance

If you want to transfer funds from Binance, you have to go through the withdrawal process. The withdrawal process differs based on the fiat, cryptocurrency, or blockchain you use. However, all you have to do is follow the below steps to avoid losing your funds:

  1. Log in to your Binance Account, move to the Wallet section, and select "Fiat and Spot."
  2. Click on Withdraw and Select "XLM" as the cryptocurrency you want to withdraw.
  3. Tap on BNB in your Trust wallet, select, receive, and copy your BNB address.
  4. Paste in the recipient's BNB address, click submit and send code and enter the six-digit code sent to your email.
  5. Lastly, enter your 2FA and click submit.

How to add a Payment Method on Binance

Binance allows up to 20 payment methods per account. To add a new payment method to your account:

  1. Go to your account dashboard and select "Payment."
  2. Click on "Add Payment Method"
  3. Input your payment information.
  4. Finally, click "Confirm."

How Do I Link My Bank Account to Binance?

Here's the right way to link your bank account to Binance:

  • Select "P2P Trading" on the homepage.
  • Select the "..." icon on the top right side of the page.
  • Select "Payment Settings"
  • Click on "Add Payment Method"
  • Select "Bank Transfer" and input your bank details.
  • Click on "Confirm"

How Long Does it Normally Take to Withdraw From Binance?

Typically, Binance processes withdrawals as soon as a request is made — however, the withdrawal window depends on the network's congestion. For instance, congested networks like Ethereum and Bitcoin take longer to process withdrawals than less crowded networks.

Why Can't I Access or Withdraw My Funds From Binance?

Some of the reasons you can't withdraw XLM from Binance include:

  • Binance is regularly working on upgrading its systems and leading to temporary halts in withdrawals until the process is done.
  • If you have recently changed your password or disabled the Google/SMS authentication, which results in a 24-hour suspension.
  • If you completely reset your Google/SMS authentication, your account will receive a 48-hour suspension.

Binance takes such measures to protect your funds and account from fraud/theft.

What to Do if Binance Unfairly Blocked My Account?

Suppose you have confirmed that the blockchain network is not congested and you have not changed your password or SMS/Google authentication; reach out to Binance customer support via:

Binance Customer Support
Customer Support Number(929) 228-3440
Support Email Addressproduct@binance.com
business@binance.com
Mailing Address23 Lime Tree Bay Ave

George Town, George Town

Cayman Islands

What's the Fastest Way to Regain Access to My Account?

If you can't withdraw XLM from your Binance account, your account will likely be either frozen or suspended. This makes it frustrating and inconvenient since you might have had initial plans on how to spend your funds. Unfortunately, you might reach out to Binance customer support to no avail.

But worry not! DoNotPay is the fastest and most convenient way to legally demand access to your Binance account and funds by automatically sending a demand letter. We not only make follow-ups on your frozen account but also find quick resolutions.

All you have to do is follow the below steps to avoid losing your funds:

  1. Search “Crypto” on DoNotPay.

     

  2. Select the crypto exchange platform you use.

     

  3. Tell us when this problem started and estimate the losses you incurred from your inability to make trades/cash out.

     

What Else Can DoNotPay Do?

Assisting with XLM withdrawal from your Binance account is just one this DoNotPay can help you with. We can also help you with:

Aside from assisting you with your frozen crypto, DoNotPay can also help you with other services such as:

Sign up to DoNotPay today for a quick and successful resolution on your XLM withdrawal from your frozen Binance account.

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