Many new users face the challenge of incorrect deposits on Binance. While it may seem stressful, thereโs 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.
๐ 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:
๐นYou deposit an unsupported coin?
๐นYou use the wrong network?
In such cases, follow these steps to recover your funds.
๐จ How to Recover a Wrong Transfer
1๏ธโฃ Collect Transaction Details
Before submitting a recovery request, gather the following information:
๐นCurrency name
๐นAmount transferred
๐นSender wallet address
๐นYour Binance wallet address
๐นTransaction ID (TxID)
2๏ธโฃ Submit a Recovery Request
Visit Binanceโs Support Center and locate the coin recovery form.
Provide the collected details and describe the situation clearly.
๐ Incorrect Transfer Scenarios
1๏ธโฃ Transfer Without Memo
For some coins (e.g., XRP, XLM), a Memo or Tag is required during deposits.
๐นProcessing Time: 2-3 days
๐นFees: Network fees only
2๏ธโฃ Unsupported Coin on Binance
If you transferred an unsupported coin using a supported network (e.g., BSC, ETH):
๐นProcessing Time: Up to 30 business days
๐นFees: 200 USDT
3๏ธโฃ Coin Removed from Binance
If the coin has been delisted but was previously supported:
๐นProcessing Time: 5 days
๐นFees: Network fees
๐ Prevention Tips
โ Double-check the deposit network and wallet address before transferring.
โ Always include required Memos or Tags.
โ Start with a small test transfer to ensure accuracy.
โ ๏ธ Disclaimer
๐นBinance cannot guarantee fund recovery in all cases.
๐นRefunds may take time and incur fees.
๐นAlways exercise caution when transferring cryptocurrencies.
๐นMistakes happen, but with Binanceโs tools and support, recovery is often possible. Stay vigilant, and if you face any issues, act quickly!
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