For millions of people around the world, Binance is the go-to exchange for buying and selling cryptocurrencies. However, in recent months, they have implemented some features that are unfriendly to US customers and those that don’t want to go through KYC requirements. Others are simply dissatisfied with the platform. This is leading some to want to learn how to close a Binance account.
Regardless of why you want to close your account, we’re here to help. We can show you in an easy, step-by-step process how to close your Binance account. Follow along with our guide to do this safely and correctly.
*It’s important to note that Binance does not offer a feature to completely close the account. However, you can withdraw your funds and cease using Binance at any point. We will show you what you need to do in order to make this change.
Step 1: Withdraw Your Funds From Binance
So, you’re ready to move on from Binance? Well, the first step is to remove your funds from Binance. If you want to remain investing in cryptocurrency, but not with Binance, you’ll have to withdraw all of your funds. The good part is that this is quite easy to do! The hard part is that you will have to choose where you want to remove your funds to. That is, you’ll have to pick a new exchange. Alternatively, you can choose to keep your cryptocurrency in a wallet or series of wallets.
Once you have decided, you need only go to Binance and withdraw funds from your spot wallet. When you do this, you should be sure to double-check all addresses. Taking this minor precaution will prevent some major mistakes.
Step 2: Remove API Connections
If you are going to move on from Binance, one step that you are going to want to take is to remove Binance API connections that you may have. Many people connect their Binance account to various cryptocurrency applications for tracking purposes. Now that you won’t have funds in Binance, you can remove these API connections. When people ponder how to close a Binance account, they often forget this step.
Forgetting this step won’t necessarily harm you, but it could confuse you in the future. It’s best to put these connections out of commission. Additionally, they could leave open a security flaw. To be safe, you should remove these API connections. You can usually do this by simply deleting them off any app that you currently use that is connected to Binance.
Step 3: Secure Your Account
Now that ou have your funds out of Binance and you’ve closed any connection to Binance, you’re ready to take the final step. If you want to ensure the safety of your personal information, you should enable 2FA on your account. This will ensure that hackers won’t be able to access the account and get at your personal information. This is common among abandoned accounts. To do this, you need only go into your Binance account and enable 2FA using Google Authenticator or a similar app.