Learn how to securely transfer your XRP holdings from Binance to a self-custody wallet, ensuring full control over your digital assets. This guide simplifies the process with clear instructions and essential tips for a smooth transition.
What You Will Need
Before starting the transfer process, make sure you have the following:
- A Binance account with an XRP balance.
- A self-custody wallet that supports the XRP Ledger (XRPL), such as Xaman.
- Your XRPL wallet address. You can typically find this in your wallet's "Receive" section.
How to Send XRP from Binance to the XRP Ledger
Follow these detailed steps to move your XRP safely.
Step 1: Access Your XRP Balance on Binance
Open the Binance app and navigate to your portfolio or wallet overview. Locate and tap on your XRP balance to proceed to the asset details screen.
Step 2: Initiate the Withdrawal
On the XRP asset screen, tap the Send or Withdraw button. This will open the menu for different withdrawal methods.
Step 3: Choose the On-Chain Withdrawal Method
Select On-Chain Withdraw as your transfer method. This option is used for sending crypto to external wallets, such as self-custody wallets like Xaman or other exchanges.
Step 4: Enter the Transfer Details
You will now need to provide the necessary information for the transaction:
- XRPL Address: Carefully paste the destination address from your self-custody wallet.
- Network: It is critical to select XRP Ledger (XRPL) as the network. Using the wrong network can result in permanent loss of funds.
- Amount: Input the quantity of XRP you wish to send.
- Tag/Memo: This field may or may not be required.
Understanding the Destination Tag (Memo)
The need for a destination tag depends entirely on the recipient's address:
- Self-Custody Wallets (e.g., Xaman): You can almost always leave the tag field blank. These wallets generate a unique address just for you.
- Centralized Exchanges (e.g., Coinbase, Kraken): You must include the specific tag/memo provided by the exchange. This tag ensures your deposit is credited to your account among thousands of others. Failure to include the correct tag can delay or result in the loss of your funds.
👉 Verify network and tag requirements for any address
Step 5: Review and Confirm the Transaction
Carefully review all the details on the withdrawal confirmation screen. Check the address, network, amount, and any applicable fees. Once you have verified everything is correct, tap Confirm.
You will likely need to complete additional security verification steps, such as two-factor authentication (2FA) or an email confirmation, to finalize the transaction.
Step 6: Track and Confirm Receipt
After confirmation, Binance will process your withdrawal. The transaction time can vary based on network congestion. You can track the status of your transfer within Binance's transaction history, typically found in the "Spot History" or "Withdrawal History" section.
Once the transaction is confirmed on the XRP Ledger, your XRP will appear in your self-custody wallet.
✅ Transfer Complete
Congratulations! You have successfully moved your XRP from a centralized exchange to your own self-custody wallet. You now have independent control over your assets on the XRP Ledger.
Frequently Asked Questions
Do I always need a destination tag when sending XRP?
No, a destination tag is only required when sending to a centralized exchange or a specific type of custodial service. When sending to your own self-custody wallet, the tag field should be left blank. Always double-check the requirements of the receiving service.
What happens if I send XRP using the wrong network?
Sending XRP on any network other than the XRP Ledger (XRPL) will likely result in the permanent loss of your funds. Exchanges and wallets do not have access to the private keys of other networks, making recovery impossible. Always triple-check that you have selected XRPL.
How long does an XRP withdrawal from Binance usually take?
XRP transactions are typically very fast, often settling within 4-7 seconds due to the efficiency of the XRP Ledger. However, the initial processing time by Binance can sometimes take a few minutes. Delays are usually due to exchange processing, not the network itself.
Why should I move my XRP to a self-custody wallet?
Moving crypto to a self-custody wallet gives you true ownership and control of your private keys. This reduces counterparty risk associated with leaving assets on an exchange, such as potential platform insolvency or withdrawal freezes. It is a fundamental step in practicing self-sovereignty in crypto.
Is there a minimum amount of XRP required for a withdrawal?
Yes, Binance enforces a minimum withdrawal amount for XRP, which is subject to change. There is also a small transaction fee payable in XRP. You can see both the minimum amount and the exact fee on the withdrawal confirmation screen before you finalize the transaction.
Can I cancel a withdrawal after it has been initiated?
Once a withdrawal transaction has been broadcast to the XRP Ledger network, it cannot be canceled or reversed due to the immutable nature of blockchain transactions. If the transaction is still pending processing within Binance, you may have a brief window to cancel it from your order history.