How to withdraw USDC from Binance to Polkadot

April 18, 2024

Binance, the world’s largest centralised cryptocurrency exchange, and Polkadot recently announced a collaboration that now enables users to directly transfer native USDC between the two platforms. This integration facilitates easier access to Polkadot for Binance’s global user base, and underscores a growing trend towards enabling smoother interoperability between different crypto ecosystems and improving both the user experience and utility of stablecoins like USDC. Below we provide a simple step-by-step guide on how to move funds from Binance to Polkadot using the popular SubWallet (though this process is similar for other common Polkadot wallets like Talisman).

Step-by-Step Guide

Step 1.

Login to your Binance account and navigate to your profile page in the top right corner

Step 2.

Find the Withdraw button located to the middle right of the page, located next to your Estimated Balance.

Step 3.

Using the drop-down menu for Select coinsearch and select the native USDC option under the USDC ticker.

Step 4.

Open your wallet browser extension, usually located in the top-right corner of your browser window; click on your Polkadot account; search for USDC and make sure to copy the correct wallet address for USDC on Polkadot’s Asset Hub. The screenshots below show this process using the SubWallet, but the process is similar for most other Polkadot wallets such as Talisman.

Step 5.

Now, navigate back to the Binance page and paste the address into the Address box, which should prompt the correct Network to appear right below, that is, the Polkadot Asset Hub as shown in the screenshot below.

Step 6.

Lastly, just insert the amount of USDC you’d like to send to Polkadot and press Withdraw.

Step 7.

The final step will prompt a security verification asking you to enter the 6-digit code from your authenticator app, which is the same one you use to log in to Binance.

That’s it! The transfer shouldn’t take more than a couple of minutes or so, and cost you as little as 0.001 USDC, the cheapest out of all available withdrawal networks on Binance — pretty good, wouldn’t you agree?