1. Access your Trust Wallet and select the [Receive] button, then select the asset you would like to transfer. If you don’t have a Trust Wallet yet, proceed to the official Trust Wallet website to download the app. 2. Select the [Deposit from exchange] option at the bottom of the page, then select [Binance]. 3. Enter the amount of crypto that you wish to transfer, then hit [Confirm]. You will be prompted to enter your Pay PIN. 4. The transfer will begin processing, prompting you to open your Trust Wallet app. 5. Within a few seconds, you will receive a push notification in your Trust Wallet app with the details of the transaction. That’s it! Enjoy super easy crypto transfers between your Binance Pay account and your Trust Wallet. On-chain transfer to crypto wallet addresses outside of Binance typically incurs a network fee. This fee is not paid to Binance but miners or validators, who are responsible for processing the transactions and securing the respective blockchain network. Binance must pay these fees to ensure that transactions are processed. Since transaction fees are dynamic, you’ll be charged according to the current network conditions. The fee amount is based on estimated network transaction fees and can fluctuate without notice due to network congestion. After confirming your request on Binance Pay, it will take time for the transaction to be submitted and confirmed on the blockchain. The confirmation time varies depending on the blockchain and its current network traffic. Binance Pay supports cross-currency payments. For example, if you want to transfer 10 USDT but you only have 5 USDT or you don’t have USD in your Binance account, Binance Pay will convert other currencies in your account to USDT to complete the transfer. You can check the real-time conversion rate from the confirmation pop-up. Please confirm the transaction within 2 minutes or the quotation will expire. You can tap [Refresh] to get a new conversion rate. In the Binance App, go to [Binance Pay] and tap the history icon on the top right corner of the screen. On the Binance website, you can go to [Order] - [Payment History]. The on-chain transfer via Binance Pay from a Binance account to a Web3 wallet involves two steps: payment and transfer. Once your payment is successful, the funds will be deducted from your Binance account. That means Binance Pay has received your request for an on-chain transfer, and your transaction is being processed. Please keep in mind that blockchain confirmations take time. You'll receive an email once the on-chain transfer is completed. If the transfer fails, you'll be refunded. You can also check the estimated completion time and the latest transfer status in [Payment History]. On-chain transfer supports a wide range of assets available in Binance Pay and your crypto wallet. If a token is unsupported, it's because this asset might be unavailable on either Binance Pay or your Web3 wallet. Another possible reason is that Binance Pay supports this asset but doesn't support the selected network. In this case, you can switch to the network supported by Binance Pay in your Web3 wallet app. You can find more information about the assets and networks supported by Binance on the Deposit & Withdrawal Fees list. If your payment is unsuccessful, you'll see a pop-up window with the following message: "withdrawal address whitelist enabled and this address is not on the list." That means you have turned on the withdrawal address whitelist function in Binance, and only whitelisted addresses are available for on-chain transfer or withdrawal. You can check and manage your whitelist in the:
Bitcoin transactions are not always instant as it depends on the number of transactions processed by the blockchain at a given time.
It takes two confirmations from the network before your balance is fully available in your Paxful wallet. This is the industry standard for a truly secure wallet. This can take anywhere from five minutes to an hour, depending on the Bitcoin network.
Here are factors that affect the speed of Bitcoin transactions:
- Miner's fee. The higher the miner's fee you choose to pay, the higher is the priority of your transaction within the blockchain.
- The blockchain processor service you (your provider) use. Paxful uses services of BitGo - the most secure and successful blockchain processing service in the world. If you transfer from your Paxful wallet to an external wallet which also uses BitGo, this significantly improves the speed of your transaction.
- All transactions made between Paxful wallets are instant.
Find out more about How To Check Bitcoin Transaction Status.
Once you hit Send on the app, the transaction will be passed over to the network and where the miners or validators process it. The confirmation of a the transaction can take from minutes to just seconds depending on the network. Once you see confirmations, then this is an indication that it was accepted by the network and has been permanently recorded on the blockchain.
In the event that the transfer is not showing on the receiving end, here are some steps that can help:
Step 1 - Confirm the Destination Address
Sometimes overlooked but this has to be verified first. Check where the crypto was sent. Is the address correct? Review the transaction and confirm if it was actually sent to the correct receiver.
Tap on the transaction to check the receiving address. You can tap on More Details to see the transaction on the blockchain explorer for further confirmation.
Step 2 - Does the Receiver Need a Memo or Destination Tag?
With centralized wallets that are on exchanges, a Memo or Destination Tag are always needed. This helps them in keeping the costs low for maintaining several wallets and for easier management. If you forgot to include this information then you need to contact the receiver. In most cases, exchanges will need to confirm that you are the real sender, before they can credit your deposits.
Note:
Did you send your crypto to Binance? Check out this article that may help in getting your funds back. It may differ from other exchanges, please coordinate with them directly.
Step 3 - Does the Receiver Support The Crypto?
There are thousands of cryptocurrencies that Trust Wallet is able to receive. However, some wallets or exchanges may or may not be supporting the crypto that you have sent.
Here is an example of a supported asset on Trust Wallet that is on several blockchains. The Ethereum mainnet token is on the left while the Binance-Peg ETH is on the right.
Things to check before you hit Send:
- Is it the correct network or blockchain?
- Check the address format. ETH addresses (which is widely used by ERC20 tokens) are also used by different blockchains.
- Confirm the token name and tickers symbols.
Step 4 - Contact the Receiver
After going thru all the steps and you are certain that you have submitted the transaction properly, the next step is to contact the receiver. If the recipient is another wallet app or an exchange, then please reach out to their support team. The app has successfully done its job and has sent your crypto.
However, if the receiver is also using Trust Wallet, then please refer to this guide: Did Not Receive Coin or Token
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