Unlike FTX, Celsius, Voyager, or BlockFi — Binance.US is still operating and your funds are still accessible. This is not a bankruptcy claim situation. If you have crypto on Binance.US, you can withdraw it at any time. This guide covers how to do it, what to do if you're in a restricted state, and what happened in 2023.
How to Withdraw Your Crypto from Binance.US
Withdrawing crypto from Binance.US is straightforward if your account is in good standing. Before you start, make sure you have an external wallet address to send funds to — either a software wallet (MetaMask, Trust Wallet, Exodus) or a hardware wallet (Ledger, Trezor).
-
Log in to your Binance.US account
Go to binance.us and log in. Make sure your identity verification (KYC) is complete — unverified accounts have lower or no withdrawal limits. If prompted for 2FA, complete it.
-
Navigate to Wallet → Withdraw
In the top menu, click "Wallet" then select "Withdraw." Choose the cryptocurrency you want to withdraw (e.g., BTC, ETH, USDT). Note: if you want USD, you'll need to sell your crypto to USD first, then do a separate bank withdrawal.
-
Enter your external wallet address
Paste your external wallet address in the withdrawal field. Double-check the address character by character — crypto transactions are irreversible. Select the correct network (Bitcoin Network for BTC; Ethereum for ETH/ERC-20 tokens; etc.). Using the wrong network can result in permanent loss of funds.
-
Enter the withdrawal amount
Enter how much you want to withdraw. Note the network fee — this is paid to the blockchain, not to Binance.US, and varies by congestion. Click "Continue" to proceed.
-
Confirm via email or 2FA
Binance.US will send a confirmation email or require a 2FA code. Confirm the withdrawal. Processing typically takes a few minutes for most blockchains, though Bitcoin transactions can take 10–60 minutes depending on network congestion.
If you deposited USD via ACH bank transfer, Binance.US applies a 7-day hold before you can withdraw the equivalent in crypto. This is a fraud prevention measure, not a sign of problems with your account. Wait out the hold period, then proceed with withdrawal.
What Happened to Binance.US in 2023?
For many users, 2023 was a confusing and alarming year for Binance.US. Here's a clear timeline of what occurred and why you may have had trouble accessing your USD funds.
-
June 2023SEC sues Binance and Binance.US, alleging operation as unregistered securities exchange. Several US banking partners cut ties with Binance.US.
-
June–September 2023USD deposit and withdrawal services suspended on Binance.US. Crypto withdrawals remained available. Many users transferred crypto to external wallets during this period.
-
November 2023Binance Holdings Ltd (global parent) agrees to $4.3B DOJ settlement. Changpeng "CZ" Zhao pleads guilty and steps down as CEO. Binance.US not directly named in settlement but continues under scrutiny.
-
Late 2023Binance.US secures new banking partnerships. USD deposit and withdrawal services gradually restored.
-
2024–2026Binance.US operates under external DOJ compliance monitor. Spot trading available. USD services restored but with enhanced KYC requirements. Fewer supported states and trading pairs than pre-2023.
The critical takeaway: Binance.US never froze or lost customer crypto. Unlike FTX or Celsius, Binance.US always allowed crypto withdrawals even during the height of the 2023 crisis. The disruption was specifically to USD banking services, not to the underlying crypto assets.
Binance.US State Restrictions
Binance.US does not operate in all US states. If you're in a state where Binance.US is not licensed or has withdrawn services, you may be unable to trade — but you can still withdraw your existing crypto holdings to an external wallet.
Binance.US updates its supported states list as licensing changes. For the most current list of supported and restricted states, check the official page at support.binance.us.
What to Do If You're in a Restricted State
Being in a restricted state does not mean your funds are gone. Your account still exists and your crypto balance is intact. Here's what you can do:
-
Withdraw your crypto to an external wallet
Even if your state restricts trading on Binance.US, crypto withdrawals remain possible. Set up a self-custody wallet and transfer your holdings. Good options include Coinbase Wallet, MetaMask (for ERC-20 tokens), or a hardware wallet like Ledger for maximum security.
-
Sell to USD first (if state allows), then withdraw
If you can still trade in your state but want cash, sell your crypto to USD on Binance.US, then initiate a bank withdrawal via ACH. This may take 3–5 business days to arrive in your bank account.
-
Transfer to a nationally-available exchange
Move your crypto from Binance.US to a platform available in your state — Coinbase, Kraken, and Gemini operate in all 50 states. From there you can sell to USD or continue trading with fewer restrictions.
My Binance.US Account Is Frozen — What Do I Do?
There are several legitimate reasons Binance.US may place a hold on your account:
KYC/Identity verification issues: If you have not completed identity verification, or if Binance.US needs updated documents, your account may be restricted until verification is complete. Log in and check for any pending verification requests in your account settings.
Suspicious activity hold: Unusual login patterns, new device access, or large unusual transactions may trigger a temporary hold. This is a security measure. Contact Binance.US support via support.binance.us to resolve the hold.
Compliance review: In some cases, accounts are flagged for compliance review. You'll typically be required to provide additional documentation (source of funds, etc.). Follow the instructions in any emails from Binance.US compliance.
ACH deposit hold: As noted above, ACH deposits trigger a 7-day withdrawal hold. This is automatic and will lift after the hold period.
There is a widespread scam where fake "Binance recovery" agents claim they can unfreeze your account or recover your funds for an upfront fee (often $50–$500). These are scams. The only legitimate way to resolve a Binance.US account issue is through official Binance.US support at support.binance.us. Never pay a third party to "recover" funds from an exchange that hasn't failed.
Frequently Asked Questions
Looking for a Different Exchange Claim?
If you had funds on a platform that actually went bankrupt, these guides cover the official claims processes: