Many new users face the challenge of incorrect deposits on Binance. While it may seem stressful, thereās a good chance you can recover your coins with Binance's support. This guide explains how to deal with this issue and avoid it in the future.
š What is a Wallet Address?
Each Binance account has a set of wallet addresses managed by the exchange. When depositing, the address shown in your Binance account is linked to a wallet controlled by Binance. Any coins sent to this address are credited to your Binance account.
But what if:
š¹You deposit an unsupported coin?
š¹You use the wrong network?
In such cases, follow these steps to recover your funds.
šØ How to Recover a Wrong Transfer
1ļøā£ Collect Transaction Details
Before submitting a recovery request, gather the following information:
š¹Currency name
š¹Amount transferred
š¹Sender wallet address
š¹Your Binance wallet address
š¹Transaction ID (TxID)
2ļøā£ Submit a Recovery Request
Visit Binanceās Support Center and locate the coin recovery form.
Provide the collected details and describe the situation clearly.
š Incorrect Transfer Scenarios
1ļøā£ Transfer Without Memo
For some coins (e.g., XRP, XLM), a Memo or Tag is required during deposits.
š¹Processing Time: 2-3 days
š¹Fees: Network fees only
2ļøā£ Unsupported Coin on Binance
If you transferred an unsupported coin using a supported network (e.g., BSC, ETH):
š¹Processing Time: Up to 30 business days
š¹Fees: 200 USDT
3ļøā£ Coin Removed from Binance
If the coin has been delisted but was previously supported:
š¹Processing Time: 5 days
š¹Fees: Network fees
š Prevention Tips
ā
Double-check the deposit network and wallet address before transferring.
ā
Always include required Memos or Tags.
ā
Start with a small test transfer to ensure accuracy.
ā ļø Disclaimer
š¹Binance cannot guarantee fund recovery in all cases.
š¹Refunds may take time and incur fees.
š¹Always exercise caution when transferring cryptocurrencies.
š¹Mistakes happen, but with Binanceās tools and support, recovery is often possible. Stay vigilant, and if you face any issues, act quickly!
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