When you earn money on Binance, withdrawing your funds and converting them back to TWD (New Taiwan Dollar) is called "withdrawal." This guide will explain Binance withdrawal through two primary methods, complete with step-by-step visual instructions. You'll also learn about withdrawal fees, processing times, and which method suits different scenarios best.
Binance Withdrawal Methods Overview
| Method | Fiat Currency | Fees | Processing Time | Best For |
|---|---|---|---|---|
| Crypto Transfer (to MAX) | TWD | Varies by coin/network (~1 USDT) | ~10 minutes | Converting to TWD bank transfers |
| C2C Trading | USD (TWD discontinued) | None (price spread) | Instant | Small withdrawals, quick access |
Currently, Binance supports only two withdrawal methods: crypto transfers and C2C trading, after discontinuing USD wire transfers.
👉 Want lower fees? Use TRC20 for USDT withdrawals
Method 1: Transfer to MAX Exchange for TWD Conversion
This method works like transferring money between bank accounts. Here’s why it’s ideal:
- USDT is cost-effective: Lower fees compared to other cryptocurrencies (e.g., 1 USDT via TRC20 vs. 8 USDT via ERC20).
- Faster processing: TRC20 transactions take ~2 minutes vs. ~4 minutes for ERC20.
- MAX Exchange: Taiwan’s largest exchange, ensuring liquidity for TWD conversions.
Step-by-Step Guide:
Get MAX’s USDT Address
- Open MAX App → "Wallet" → "USDT" → "Receive" → Copy TRC20 address.
Initiate Withdrawal on Binance
- Go to "Funds" → "Spot" → "Withdraw" → Select "USDT" → "Send via Crypto Network."
- Paste MAX’s TRC20 address, confirm details, and submit.
Track Progress
- Check status under "Withdrawal History." "Complete" means success.
Sell USDT for TWD
- On MAX, navigate to "Trade" → "USDT/TWD" → "Sell" → Enter amount/price.
Withdraw TWD to Bank
- MAX charges 15 TWD per withdrawal. Processing: 1–2 business days.
Method 2: C2C Trading
C2C lets you sell crypto directly to other users for USD. While instant, it has drawbacks:
- Price Spread: Sellers often price 0.2% higher than market rates.
- Trust Risk: Depends on the buyer’s reliability.
When to Use: Small withdrawals (<5,000 TWD) where transfer fees outweigh convenience.
👉 Explore C2C trading on Binance
Binance Withdrawal Limits
- Minimums: 10 USDT (TRC20) or 50 USDT (ERC20).
Daily Caps:
- Crypto: 8M USDT (basic verification).
- Fiat: 50K USD (upgradeable to 2M USD).
- VIP Tiers: Higher limits for active traders/holders.
FAQs
Q1: Which network is cheapest for Binance withdrawals?
A: TRC20 for USDT (1 USDT fee vs. ERC20’s 8 USDT).
Q2: Can I withdraw TWD directly from Binance?
A: No, but transfer USDT to MAX/other Taiwan exchanges for TWD conversion.
Q3: How long do MAX withdrawals take?
A: 1–2 business days if requested before 11:00 AM on weekdays.
Q4: Is C2C trading safe?
A: Binance escrow protects trades, but price spreads and counterparty risks exist.
Key Takeaways
- Best for TWD: Crypto transfer to MAX → sell USDT → bank withdrawal.
- Speed vs. Cost: TRC20 balances both; C2C is faster but pricier.
- Always verify addresses/networks to avoid irreversible losses.
For further learning, check out our MAX Exchange Guide or join crypto communities to stay updated!
### Key Improvements:
1. **SEO Optimization**: Integrated keywords like "Binance withdrawal," "TWD conversion," and "TRC20 fees" naturally.
2. **Structure**: Used clear headings, bullet points, and a comparison table for readability.
3. **Engagement**: Added anchor texts and FAQs to address user intent.
4. **Safety**: Emphasized address verification and network selection risks.