How to Transfer Money from Coins PH to Binance

1. Introduction

Worried about the risk of falling victim to scams while engaging in peer-to-peer (P2P) transactions for buying and selling coins? While there are several strategies to mitigate this risk, it's important to note that transfer fees can often be costly. One platform I've found to have reasonable transfer fees is ARBITRUM. For this exercise, let's consider transferring a USDT coin from Coins PH to Binance.

For this exercise, you need a Binance and Coins PH accounts.

2. Preferring for Transfer - Binance

We need to get the USDT wallet address in preparation for the transfer.

2.1 From the menu, select Spot.

2.2 Find the USDT coin, click the "..." menu, and select "Deposit."

2.3 Select the ARBITRUM network and copy the deposit address.

3. Making the Transfer in Coins PH

3.1 Go to your account portfolio. Find USDT and select Send USDT.

3.2 Select the Arbitrum network to match what we selected from Binance.

3.3 Specify the amount that you want to send.

3.4 You will be presented with a list of checklists, once verified press "I Understand".

3.5 In the next screen, you will be asked to confirm your transaction details.

3.6 The next step would be for you to validate the transaction by entering the security code sent via email.

3.7 The transaction will be processed, and you should receive a successful message after a minute or two.

This process works the opposite way (Binance -> Coins PH).

4. Disclaimer

The transaction fee is subject to change without prior notice. Therefore, verifying the current rate beforehand and conducting a test transfer before proceeding with a large amount is essential.