There are numerous reasons why users transfer cryptocurrencies between platforms or wallets. Whether seeking lower fees, enhanced security, or simply exploring new storage options, understanding the process is crucial. This guide walks you through moving AXS coins from Binance to Coinbase Wallet, ensuring a seamless experience even for beginners.
Understanding Crypto Transfers
When initiating a transfer from Point A (Binance) to Point B (Coinbase Wallet), the coin undergoes three stages:
- Leaves the origin platform (Binance).
- Validated by the blockchain (processing time varies).
- Deposited into the destination (Coinbase Wallet).
Why Start with a Test Transfer?
- Minimizes risk: Small amounts help verify the correctness of details (address, network).
- Estimates processing time: Familiarizes you with the transfer duration.
- Avoids irreversible losses: Incorrect details may lead to lost funds. Learn more about recovery.
👉 Secure your transfers with these pro tips
Step-by-Step Transfer Guide
Step 1: Retrieve Your Coinbase Wallet Address
- Open Coinbase Wallet and tap Receive.
- Search for AXS or Axie Infinity.
- Copy the wallet address (via QR code or manual entry).
Step 2: Whitelist the Address on Binance
- Navigate to Binance Wallet > AXS > Withdraw.
- Select Add New Address.
- Paste the Coinbase Wallet address.
Network Selection: Choose Ethereum (ERC20) for AXS.
- Critical: Mismatched networks risk permanent loss. Network selection guide.
- Label the address (e.g., "Coinbase Wallet") and confirm.
Step 3: Execute the Transfer
- Select the whitelisted address and ERC20 network.
- Enter the AXS amount (start small for testing).
- Verify all details (address, network, amount) and tap Withdraw.
- Complete identity verification (phone/email codes).
Step 4: Track the Transaction
- Binance History: Monitor progress under View History.
- Confirmation: Status changes from Processing to Completed (typically minutes to hours).
- Coinbase Wallet: AXS will appear once blockchain validation finishes.
FAQs
How long does a transfer take?
- ERC20 transfers: Usually under 30 minutes but may vary with network congestion.
What if I choose the wrong network?
- Immediate action: Contact Binance/Coinbase support. Recovery isn’t guaranteed but possible in some cases.
Are fees adjustable?
- Binance fees: Fixed per network. ERC20 fees are higher than BEP20 due to Ethereum gas costs.
👉 Explore low-fee alternatives
Key Takeaways
- Verify addresses: Triple-check before confirming.
- Test first: Always transfer a small amount initially.
- Network matters: ERC20 for AXS; confirm for other coins.
By following these steps, you’ll master secure crypto transfers between platforms and wallets. For advanced strategies, see our guide on optimizing transaction costs.
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