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How to Transfer BTC between GDAX and Binance

John ShahidiVerified
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Summary：Learn how to transfer BTC between GDAX and Binance with ease. Follow these simple steps to make a smooth transfer between two of the most popular exchanges in the world.

Transferring BTC between GDAX and Binance: A Comprehensive Guide

As cryptocurrency continues to gain popularity, more people are looking for ways to transfer their Bitcoin between different exchanges. Two popular exchanges for trading Bitcoin are GDAX and Binance. In this guide, we will walk you through the steps on how to transfer BTC between these two exchanges.

GDAX Overview

GDAX is an exchange owned by Coinbase. It was launched in 2016 and is aimed at professional traders. The exchange offers trading pairs for Bitcoin, Ethereum, and Litecoin. GDAX has a user-friendly interface, low fees, and high liquidity.

Binance Overview

Binance is a cryptocurrency exchange that was launched in 2017. It is based in Hong Kong and has become one of the largest exchanges in the world in terms of trading volume. The exchange offers a wide range of trading pairs and has low fees.

Step 1: Create Accounts on GDAX and Binance

The first step to transferring Bitcoin between GDAX and Binance is to create accounts on both exchanges. This is a straightforward process and can be done by following the instructions on each exchange's website.

Step 2: Deposit Bitcoin into GDAX

Once you have created your GDAX account, you will need to deposit Bitcoin into it. To do this, click on the "Deposit" button on the left-hand side of the screen. Select "Bitcoin" as the currency you want to deposit, and copy the Bitcoin deposit address. Go to your Bitcoin wallet and send the amount you want to transfer to the GDAX deposit address.

Step 3: Convert Bitcoin to USD on GDAX

After your Bitcoin deposit has been confirmed, you will need to convert it to USD on GDAX. This is because Binance does not support trading pairs with Bitcoin. To convert your Bitcoin to USD, go to the "Exchange" tab on GDAX and select the BTC/USD trading pair. Place a sell order for the amount of Bitcoin you want to transfer to Binance.

Step 4: Withdraw USD from GDAX

Once your Bitcoin has been converted to USD, you will need to withdraw it from GDAX. To do this, click on the "Withdraw" button on the left-hand side of the screen. Select "USD" as the currency you want to withdraw, and enter the amount you want to transfer to Binance. Enter your Binance deposit address as the destination for the withdrawal.

Step 5: Buy Bitcoin on Binance

After your USD deposit has been confirmed on Binance, you can buy Bitcoin on the exchange. To do this, go to the "Exchange" tab on Binance and select the BTC/USD trading pair. Place a buy order for the amount of Bitcoin you want to transfer from GDAX.

Step 6: Withdraw Bitcoin from Binance

Once you have bought Bitcoin on Binance, you can withdraw it from the exchange. To do this, click on the "Withdraw" button on the left-hand side of the screen. Select "Bitcoin" as the currency you want to withdraw, and enter the amount you want to transfer to your Bitcoin wallet.

Tips for Transferring Bitcoin between Exchanges

When transferring Bitcoin between exchanges, there are a few things to keep in mind to ensure a smooth transfer:

1. Always double-check deposit and withdrawal addresses to make sure you are sending Bitcoin to the correct address.

2. Check the fees associated with each transfer to ensure you are not losing too much money in fees.

3. Check the exchange rates on both exchanges to ensure you are getting the best deal possible.

4. Consider using a hardware wallet to store your Bitcoin to ensure maximum security.

Conclusion

Transferring Bitcoin between GDAX and Binance is a straightforward process that can be completed in just a few steps. By following the steps outlined in this guide and keeping our tips in mind, you can ensure a smooth transfer between these two popular exchanges. Remember to always be vigilant when transferring Bitcoin and to keep your Bitcoin wallet secure.

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