Crypto 101: Withdrawals from Exchanges
Storing crypto is mostly a trivial subject for many crypto users, a majority of which majorly store their crypto on exchanges.
Most users store on exchanges because it’s easier to sell for another cryptocurrency or to convert to local currency. Let us look into the process of creating an account on Binance.
Step 1: Head over to the Binance website
Step 2: Click on “Register”
Step 3: Input your details
And just like that, you have a Binance account!
Now, we would proceed to see how to add KYC to it to make it safer and increase your withdrawal limits.
Binance Identity Verification
Let us now take a look at identity verification on Binance.
Step 1: Log in to your Binance account and click on ‘Identification’
Step 2; In the identity verification area, click “verify”
Step 3: Follow the prompts to add your details to the database.
After doing this, you’d have successfully added your details to the Binance verification system.
This is how easy it is to update your KYC details on Binance. However some more steps are required to increase security of the account.
One of the better methods of increasing security is adding 2FA to your Binance account.
The first step to adding 2FA to your account is to install the Google Authenticator app from the Google PlayStore or Apple App Store.
Step 2: Link your Binance account to your 2FA APP.
Once you have installed the 2FA app, head back to the Binance 2FA page and go to the “Scan QR code” section. A QR code and 16-digit key will be shown on the page. Open your 2FA app, click the symbol【+】on the top right-hand side to scan the QR code, or you can manually enter the ‘2FA 16-digit key.’
Step 3: Save the backup key
Upon linking the app with your Binance account, a key will be displayed. Ensure that you save this code somewhere safe.
Step 4: Sign in using the code
After setting up the code, you would be required to log in again using the code, your email and phone number. After this is done, your account is now secured!
Now let’s see how to buy some crypto on Binance
How to buy crypto on Binance
Buying crypto is easy, safe and stress free while using Binance, and it is cheaper when using a debit card. A guide on how to do that can be found here.
It is also advisable to buy crypto on Citadel.One. (the guide can be found here). Our platform currently supports: Bitcoin, Ethereum, Tezos, Atom, Band.
Now, you can withdraw your balance to Citadel.One!
Withdrawing from Binance
Now we will proceed with the steps on how to withdraw from Binance.
Step 1: Click on the “Fiat and Spot” option.
Step 2: Select your desired cryptocurrency and click “withdraw”
Step 3: Copy your destination address from Citadel.One
Step 4: Verify all the details and click “submit”
Step 5: Verify your details by providing your 2FA details
Step 6: The withdrawal process should be completed
Step 7: Your funds would be in your Citadel.One address
Note: When sending assets to Citadel.One, a MEMO tag is not required.
Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.
The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we standardize the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.
One of the main functions of the Citadel.one platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.
Citadel.one offers its users instant cryptocurrency exchange services that allow fast and secure crypto assets swap. It is also possible to buy and sell crypto with a credit or debit card. Citadel.one users can track rewards, withdrawals, transfers, and deposits across all supported networks and add comments to these transactions.
Among PoS platforms, Citadel.one supports Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST, Orbs, and Tezos ($XTZ). We also support Ethereum, Bitcoin, and Tether ($USDT) for our users’ convenience. Mobile and desktop versions, new networks, including Polkadot and Ontology, are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization, we envision Citadel.one a decentralized autonomous organization and a genuinely community-owned platform in the nearest future.