SideBySideCrypto
How-To December 18, 2025

How to Transfer Crypto Between Exchanges

Moving crypto from one exchange to another doesn't have to be scary. Here's exactly how to do it safely.

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Quick Summary

Get the deposit address from your destination exchange, verify the network matches on both sides, send a small test amount first, then transfer the rest. Wrong network = lost funds. Double-check everything.

Step-by-Step Transfer Guide

  1. 1
    Get deposit address from destination exchange

    Log into the exchange where you want to RECEIVE crypto. Go to Deposit → Select the coin → Copy the deposit address. Note which network it's on.

  2. 2
    Verify the network matches

    Make sure both exchanges support the SAME network. Sending ETH on Ethereum to an address expecting ETH on Arbitrum = lost funds.

  3. 3
    Go to Withdraw on source exchange

    On the exchange you're SENDING from: Withdraw → Select coin → Select network → Paste destination address.

  4. 4
    Send a small test amount first

    Never transfer everything at once. Send $10-50 first. Wait for it to arrive. Then send the rest.

  5. 5
    Complete 2FA and confirm

    Enter your 2FA code, verify via email if required, and confirm the withdrawal. Save the transaction ID (TXID).

  6. 6
    Wait for confirmations

    Track on a block explorer. Bitcoin takes ~1 hour (6 confirmations). Ethereum ~5 minutes. Solana is near-instant.

Network Selection: The Critical Step

⚠️ WARNING: Network Mismatch = Lost Funds

Sending crypto on the wrong network is the #1 cause of lost funds in exchange transfers. The networks MUST match on both sides.

Example: You want to send USDC from Coinbase to Kraken. Coinbase offers USDC on Ethereum, Polygon, and Solana. If Kraken only accepts USDC on Ethereum, you MUST select Ethereum on Coinbase—even though Polygon is cheaper.

Common Network Options

Asset Available Networks Cheapest Option
Bitcoin (BTC) Bitcoin (native), Lightning Lightning (if supported)
Ethereum (ETH) Ethereum, Arbitrum, Optimism Arbitrum
USDC Ethereum, Solana, Polygon, Arbitrum Solana or Polygon
USDT Ethereum, Tron, Solana, Polygon Tron or Solana
Solana (SOL) Solana (native only) Solana

Transfer Fees by Exchange

Withdrawal fees vary significantly between exchanges:

Exchange BTC Fee ETH Fee USDC (Cheapest)
Gemini 10 free/mo 10 free/mo 10 free/mo
Coinbase ~$10-15 ~$5-15 ~$1 (Solana)
Kraken ~$13 ~$11 ~$2 (Polygon)
Binance.US ~$8.50 ~$16 ~$1 (Solana)

Pro tip: Gemini's 10 free withdrawals per month make it the best "hub" exchange. Deposit there first, then withdraw to other exchanges for free.

Transfer Time by Network

Network Typical Time Confirmations Required
Bitcoin 30-60 minutes 3-6 confirmations
Ethereum 5-15 minutes 12-35 confirmations
Solana ~1 minute 1 confirmation
Polygon 5-10 minutes 200+ confirmations
Tron ~1-3 minutes 20 confirmations

Common Mistakes to Avoid

❌ Don't Do This

  • • Send to wrong network (ERC-20 vs BEP-20)
  • • Forget memo/tag for XRP, XLM, etc.
  • • Transfer entire balance without test
  • • Copy address by typing (always copy/paste)
  • • Ignore withdrawal hold periods

✅ Do This Instead

  • • Triple-check network selection
  • • Include memo/tag when required
  • • Send small test amount first
  • • Copy/paste address, verify first/last 4 chars
  • • Check for holds before initiating

⚠️ Memo/Tag Required Coins

Some cryptocurrencies require a memo or destination tag in addition to the address. Without it, your funds may be lost or require manual recovery:

XRP (Destination Tag) XLM (Memo) ATOM (Memo) EOS (Memo) BNB (Memo)

Frequently Asked Questions

What if I sent to the wrong address? +
If you sent to a valid but wrong address, the funds are likely unrecoverable. If you sent to the wrong network on a valid exchange address, contact support immediately—some exchanges can recover these, often for a fee.
Why is my withdrawal pending? +
New deposits often have a hold period (3-7 days for ACH). Security reviews can delay withdrawals. Check if your 2FA is working. Contact support if pending more than 24 hours with no explanation.
Can I cancel a transfer? +
Once a crypto transaction is broadcast to the blockchain, it cannot be cancelled or reversed. Some exchanges have a brief window before broadcasting—check immediately if you made an error.
Is it cheaper to convert to stablecoins first? +
Sometimes. If you're transferring ETH, converting to USDC and sending on Solana or Polygon can be much cheaper than sending ETH directly. Factor in trading fees vs network fees. For large amounts, direct transfer usually wins.

The Bottom Line

Transferring crypto between exchanges is straightforward once you understand the process. Always verify the network, send a test amount first, and double-check addresses. Use cheaper networks when both exchanges support them. Gemini's free withdrawals make it a great hub for moving funds around.

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