Sending Bitcoin from Coinbase to Binance?

[dom08]

im not sure if I did this right...
I purchased Bitcoin on coinbase.... it went to my bitcoin wallet...
I went to Binance app and selected deposit under ‘funds’ typed in BTC and got the QR address. Copied that and went to coinbase went to the ‘send’ screen and typed in the amount and pasted the address I got from Binance.
It deducted it from my coinbase and says “pending”....
It’s been pending for a few hours now. This is my first transaction. Does it just take a couple days?

 

[evo]

From what you've explained, it sounds like you did everything right.

If it says pending in Coinbase, then it's waiting for the BTC transaction to go through on the blockchain.

After the BTC has been successfully sent, you should receive an email from Coinbase confirming the withdrawal. And you should also receive an email from Binance confirming the deposit.

I sent some BTC a few days ago from Coinbase to Poloniex, and it took a few days for it to go through. One of the downsides to Bitcoin is the slow transaction time because the network is overloaded at the moment.

As you long as you put in the correct Binance BTC wallet address, then just be patient and wait and it will/should go through just fine.

And welcome to the forum... which Vancouver are you from, Washington or Canada?

 

[dom08]

Great! Do weekend counts as days? Or is it just weekdays?

I’m in Canada!
I’m really new to this, I’m more in for the long haul not really the day to day trading.
Thanks for welcome, I’m browsing the forums to gain more knowledge

I guess with these delays of transfers it defeats the purpose of buying right away especially if not storing the coin on the exchange...? I’ll be storing everything on my ledger Nano s so I’m guessing I’ll always have a delay and transfers won’t be quick

 

[evo]

I believe it's calendar days, not weekdays or business days. But as a point of reference, I purchased some Ethereum recently on Coinbase using bank account withdrawal, and it says 8 days until arrival.

Canada! Ok, if you don't mind, I updated your profile and added that, because it helps others answer your questions when we know where you're from. The other Vancouver is in Washington, which is one of three states that Poloniex does not work in. For you, I recommend Poloniex, but yes you're going to have to get Verified to use them. If you don't want the hassle of verification, I would go with Binance. But still get signed up on Poloniex so you have it when you need/want it.

You are on the right track. Timing the market is a hard thing to do. I do not recommend day or swing trading. When it comes to crypto, this is not a 3/6/12 month game. This is a buy for life multi decade play. You can change your positions over time, but try to hold onto things instead of getting caught up in the day trading. Unless you're super good at it, and then help us all lol

Transferring coins is a mixed bag. For sending BTC between wallets, expect it to take time. ETH is less time. Most other coins are even less. But coins that are build around transaction speed, such as Ripple, are seconds for the transfer to go through.

In the last few days, here are some recent real world transfers that I made and how long they took me:

• BTC transfer took over 70 hours
• ETH transfer took around 10 hours
• LTC and DASH transfers took around 30 minutes
• XRP took 5 minutes

As always, sometimes transfer can be quicker, and some could be slower. Depends on how backlogged things are.

Look forward to having you join the community. Cheers!

 

[dom08]

Thanks for shedding some knowledge!!