How to Transfer Crypto From One Exchange to Another
Move crypto between exchanges in 7 steps: copy the deposit address, match the network, add any memo, send a test amount, then the rest, and avoid costly errors.
To transfer crypto from one exchange to another, copy the deposit address for that coin from the receiving exchange, choose the same network on the sending exchange, paste the address (and memo or tag if one is shown), send a small test amount, and send the rest once it arrives. The two things that lose money are choosing the wrong network and leaving out a required memo, so check both every time.
Key takeaways
- The coin and the network must match on both sides; the same token can exist on several networks.
- Some coins, such as XRP and Stellar, need a destination tag or memo when sending to an exchange.
- Always send a small test amount first, especially to a new address.
- You pay a withdrawal fee in the coin itself; it varies by coin and network.
- Moving coins between your own accounts is not a sale, but keep records so your cost price carries over for tax.
Before you start: three checks
- Is crypto withdrawal enabled on the sending exchange? Some Indian exchanges keep withdrawals of coins off until you request access, and there can be trade-offs. CoinDCX, for example, says in its help pages that enabling crypto withdrawals switches off UPI deposits for your account because of its banking partners' rules. Look in the withdrawal or security settings of your app.
- Does the receiving exchange support this coin on this network? Open its deposit page and see which networks it lists for the coin.
- Is the receiving exchange a safe place? Use platforms on the FIU-registered exchanges list. FIU-IND has blocked a number of offshore platforms; see the blocked exchanges list.
Step-by-step: moving crypto between exchanges
- Open the receiving exchange. Go to Deposit, select the coin (for example USDT), and pick a network.
- Copy the address and any memo or tag. Use the copy button rather than typing. If the page shows a memo, destination tag or comment field, copy that as well.
- Open the sending exchange. Go to Withdraw, select the same coin, and choose the same network you picked on the receiving side.
- Paste the address and memo. Check the first and last five characters against the original. Clipboard-hijacking malware can swap addresses.
- Check the fee and minimum. The screen shows the withdrawal fee and the minimum you can send. The amount received will be your amount minus the fee.
- Send a small test amount. Confirm with your 2FA code and email or SMS OTP. Wait until it shows as credited on the receiving exchange.
- Send the rest. Repeat with the full amount. Save the transaction ID (TxID or hash) in case you need support.
Our guide on how to find your crypto wallet address shows where deposit addresses sit in common apps.
Choosing the network
Stablecoins and many tokens run on more than one blockchain. USDT alone is available on TRON (TRC20), Ethereum (ERC20), BNB Smart Chain (BEP20) and others. Each network has different fees and speeds.
| What you are moving | Common networks | Watch out for |
|---|---|---|
| Bitcoin (BTC) | Bitcoin network; some exchanges also offer Lightning | Both sides must support the option you pick |
| Ethereum (ETH) | Ethereum; some layer-2 networks | Layer-2 ETH is not the same deposit as mainnet ETH |
| USDT, USDC | TRC20, ERC20, BEP20 and others | Fees vary widely by network |
| XRP | XRP Ledger | Destination tag usually required for exchanges |
| Stellar (XLM) | Stellar | Memo usually required for exchanges |
If you are unsure which network to use for USDT, read TRC20 vs ERC20 vs BEP20 before sending.
How long does a transfer take?
It depends on the network and on each exchange's processing. The blockchain part can take seconds on fast networks, and around 10 minutes or more per block on Bitcoin, with exchanges often waiting for several confirmations before crediting. The sending exchange may also review withdrawals, especially large ones or those to new addresses. Some platforms apply a waiting period to new addresses or after security changes such as a password reset, so check your app's withdrawal settings if a transfer seems stuck.
What it costs
Every withdrawal carries a fee set by the sending exchange, usually a fixed amount of the coin for each network. It covers the blockchain fee and sometimes a margin. On Ethereum-based networks the fee can be much higher than on cheaper networks. Our explainer on why crypto withdrawal fees are so high breaks this down. For small amounts, a single fee can be a large share, so it may be cheaper to sell on one exchange and buy on the other with rupees, keeping in mind that selling triggers TDS and tax on any gain.
If something goes wrong
- Not arrived after a while: look up the TxID in the network's block explorer. If it is confirmed on-chain, contact the receiving exchange with the TxID.
- Forgot the memo or tag: contact the receiving exchange's support with the TxID; they can sometimes credit it manually after checks.
- Wrong network: recovery depends on whether the receiving exchange controls that address on that network. Some can help, others cannot. See how to recover crypto sent to the wrong address.
Be wary of anyone who contacts you offering to "recover" a transfer for a fee. Real exchange support will not message you first on social media. Our guide to avoiding crypto scams covers these tricks.
Tax when you move coins
Moving coins between two accounts that both belong to you is not a sale, so no gain arises from the transfer itself. Keep your original purchase records, because your cost of acquisition stays the same when you later sell from the new exchange, and the new exchange will not know what you paid. Our guide to calculating crypto gains for tax explains how to track cost across platforms.
FAQ
Can I transfer crypto from an Indian exchange to Binance?
Technically yes, if the Indian exchange allows crypto withdrawals and the destination supports the coin and network. Check first whether the destination is registered with FIU-IND; see our Binance review for its status in India.
Is there tax on transferring crypto between my own exchanges?
No gain arises from moving your own coins, because nothing is sold. Tax applies when you sell, swap or spend them later.
What happens if I send crypto on the wrong network?
The funds may be lost or stuck. Contact the receiving exchange with the transaction ID; some can recover such deposits, but many cannot.
Why is my crypto withdrawal pending?
The exchange may be reviewing it, the network may be busy, or a security hold may apply after changes to your account. Check the withdrawal status and contact support with the details.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
