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, a leading contributor to sledge.co.ke, uses his decade-long expertise in finance, business, and technology to offer clear, reliable guides and analyses. His work aids Kenyans in making informed financial and business decisions, earning him a reputation as a trusted industry authority.