Binance users can transfer funds to each other for free using the internal transfer feature, without going through the blockchain network -- it's instant and has zero fees. You need to register on Binance and complete verification first.
What Is Internal Transfer
Internal transfer is a fund transfer between Binance users that happens within Binance's internal system, bypassing the blockchain. The advantages are speed, zero fees, and no minimum amount requirement.
How to Do It
- Open the Binance APP and go to "Assets" > "Withdraw"
- Select the cryptocurrency to transfer
- Enter the recipient's Binance account information in the address field
- The system will automatically recognize it as an internal transfer
- Enter the amount, confirm, and complete security verification
What Information Can Be Used for Transfers
Internal transfers support the following ways to identify the recipient's account:
- Recipient's Binance UID (recommended, most accurate)
- Recipient's registered email
- Recipient's registered phone number
Using the UID is safest. You can find your own UID on the "Account" page and share it with the other person.
Difference from On-Chain Transfers
Internal transfers don't go on-chain, so there's no blockchain confirmation time and no need to select a network. On-chain transfers require waiting for network confirmations, have fees, but can be sent to any external address that supports the cryptocurrency.
Use Cases
- Transferring crypto to a friend after buying on their behalf
- Transferring assets between family members
- Transferring from a main account to a sub-account
- Making quick payments to other Binance users
Internal transfers have daily limits that depend on your KYC level. Download the Binance APP for more convenient internal transfers.