How Long Does It Take To Send Bitcoin From Coinbase To Binance?

Sending Bitcoin from Coinbase to Binance can take a little bit of time, but it’s not too difficult to do. Here’s a step-by-step guide on how to do it.

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Introduction

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

What is Bitcoin?

Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008.

What is Coinbase?

Coinbase is a digital asset exchange company headquartered in San Francisco, California. They broker exchanges of Bitcoin, Ethereum, Litecoin and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide.

What is Binance?

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2018, Binance was the largest cryptocurrency exchange in the world in terms of trading volume.

How long does it take to send Bitcoin from Coinbase to Binance?

Bitcoin transactions usually take between 10 and 60 minutes to confirm. However, Coinbase may occasionally experience delays due to network congestion or other factors. Binance withdrawals may also be delayed if the transaction is caught in a blockchain backlog.

Conclusion

It can take anywhere from a few minutes to an hour for your Bitcoin to show up in your Binance account. This is because the Coinbase network needs to first verify the transaction, and then the Binance network needs to verify it. The whole process usually takes less than an hour.

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