Withdrawing from Binance to a UAE Bank Account using BitOasis

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May 18, 2022
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Some of the issues people faced while trying to withdraw from Binance to a UAE bank account include:

  • Transferring BUSD using Silvergate SWIFT resulted in a charge of $30, and the transfer never went through.

  • Difficulty transferring BUSD through Binance's platform, with the message "This payment method is currently unavailable based on our current Terms of Use and Internal Policy" appearing.
  • Difficulty finding information on how to withdraw BUSD to a bank account, with confusion on the differences between a coin and fiat option.
  • Difficulty with the steps of withdrawing BUSD to a bank account in the UAE.
  • Inability to withdraw to Emirates NBD, with transfers getting returned to Binance.
  • Confusion about whether to put an account number or IBAN number when withdrawing.
As for alternatives, one user suggested transferring BUSD to a dollar account using SWIFT, and others suggested transferring through Bitoasis.

Binance is a popular cryptocurrency exchange that allows users to buy, sell, and trade a variety of cryptocurrencies. If you are based in the United Arab Emirates (UAE), you may want to withdraw your funds from Binance to your local bank account. In this article, we'll take a look at how to withdraw from Binance to a UAE bank account, including some of the fees and alternative methods that you may want to consider.

Withdrawing from Binance to a UAE Bank Account using SWIFT

One option for withdrawing from Binance to a UAE bank account is to use SWIFT. SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, and it is a network that enables banks to securely exchange electronic messages and financial transactions. To use SWIFT to withdraw from Binance to a UAE bank account, you'll need to follow these steps:

  1. Ensure that your Binance account has been verified and that you have added the bank account information for the UAE bank where you want to withdraw your funds.
  2. Go to the "Withdraw" section of the Binance website and select "SWIFT" as the withdrawal method.
  3. Enter the amount that you want to withdraw and select your bank account information from the list of added accounts.
  4. Review the withdrawal details and confirm the transaction.
It's important to note that there may be fees associated with using SWIFT to withdraw from Binance to a UAE bank account. For example, Silvergate, a Binance partner for SWIFT withdrawals, charges a fee of $30 per transaction, while the UAE bank where you are withdrawing the funds may also charge a fee. Additionally, the conversion rate from US dollars to UAE dirhams may also impact the final amount you receive in your bank account.

Withdrawing from Binance to a UAE Bank Account using BitOasis

Another option for withdrawing from Binance to a UAE bank account is to use a digital wallet service like BitOasis. BitOasis is a digital asset platform that allows users to buy, sell, and store cryptocurrencies in the Middle East and North Africa (MENA) region. To use BitOasis to withdraw from Binance to a UAE bank account, you'll need to follow these steps:
  1. Sign up for a BitOasis account and complete the verification process.
  2. Transfer your funds from Binance to your BitOasis wallet.
  3. Go to the "Withdraw" section of the BitOasis website and select your bank account information from the list of added accounts.
  4. Enter the amount that you want to withdraw and confirm the transaction.
It's important to note that there may be fees associated with using BitOasis to withdraw from Binance to a UAE bank account. BitOasis charges a fee for withdrawing to a bank account, and the amount may vary depending on the amount you are withdrawing and the bank you are withdrawing to. Additionally, the conversion rate from US dollars to UAE dirhams may also impact the final amount you receive in your bank account.

Other Options for Withdrawing from Binance to a UAE Bank Account
There are several other options for withdrawing from Binance to a UAE bank account, including transferring to another cryptocurrency exchange that supports withdrawals to a UAE bank account, or using a peer-to-peer (P2P) platform . However, it's important to carefully consider the fees, security, and legality of these alternative methods before making a decision.