![]() ![]() I will be doing this step using my Binance mobile app as it has the ability to scan the QR code for your Kraken XLM deposit address. Now all of your funds on Binance should be held in Stellar (XLM). Indirect – if an XLM pair with the crypto you are holding doesn’t exist you can convert your crypto to BTC then convert BTC to XLM.If you hold any cryptos outside of these you will need to follow the indirect method below. The only XLM pairs currently on Binance are XLM/BTC, XLM/ETH and XLM/BNB. Direct – find the XLM pair to the cryptocurrencies you hold and convert them to XLM.These will be used in the later steps so keep this web page open.Ĭonvert all of your funds on Binance into Stellar (XLM) Click the ‘Generate deposit address’ buttonĪ ‘Deposit address’ will be generated alongside a QR code containing the address and a ‘Memo’ number. Its withdrawal fee is 0.02 XLM which equates to £0.0058 at the time of writing.Ĭreate a Stellar (XLM) deposit address on KrakenĤ. The crypto I will be using for this guide is Stellar. These fees are listed in the website below: It is also important to choose the one with a low withdrawal fee on Binance. This step will require you to choose a crypto that is supported by both Binance and Kraken. Once this is filled out and submitted your bank account will now be linked to your Kraken account to allow deposits and withdrawals.Ĭhoose a crypto with low withdrawal fees on Binance Click continue to link your bank accountĦ.Select ‘Clear Junction (FPS)’ in the ‘Withdrawal type’ field. ![]() Select ‘Pound Sterling GBP’ from the list.Navigate to the ‘Funding’ tab along the top of the web page.Link your bank account to your Kraken account The verification of these documents could take up to 24hrs so be sure to have this step done in advance. The documents you may need to verify your account for trading are: Select ‘Intermediate’ verification to allow bank transfers Once you have created an account you will need to verify it.Ģ. This will be the most time consuming step of the process if you do not already have a Kraken account.ġ. Convert all of your funds on Binance into Stellar (XLM).Create a Stellar (XLM) deposit address on Kraken.Choose a crypto with low withdrawal fees on Binance.Link your bank account to your Kraken account.However, the method I will be using should be similar for other exchanges too. The exchange I have opted to use is Kraken due to its low fees and good range of supported cryptocurrencies. One month later and there is still no direct method to withdraw GBP from Binance to your bank account as a UK customer.įortunately there are ways to transfer your funds from Binance to a different crypto exchange that allows UK withdrawals. ![]() Clear Junction, who were the payment processor for Binance’s Faster Payments, announced on 12 th July 2021 that they would no longer be facilitating payments related to Binance. ![]()
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