Learn how to move your tokens from a centralized exchange (CEX) to your Best Wallet.

A centralized exchange is an online marketplace to buy, sell, and swap cryptocurrencies, often run by a private business or company. Coinbase and Binance are the two largest centralized exchanges with millions of yearly users.

While centralized exchanges are still very popular ways to buy and hold cryptocurrencies, they come with inherent risks such as security vulnerabilities, lack of user control, exploited custodial control of assets, and regulatory exposure.

You may have decided now is the time to move your crypto funds from a centralized exchange to Best Wallet, so you can take full ownership of your tokens and manage them conveniently within one app.

It is important to note your Best Wallet can only currently receive tokens on the Bitcoin, Ethereum, BNB Smart Chain, and Polygon networks.

It is important to ensure you're only moving supported tokens to Best Wallet, as if not, you might end up with failed transactions or permanently lost crypto.

Follow these simple steps to move your crypto from a centralized exchange to your Best Wallet.

Open your Best Wallet app and select the wallet you want to receive your tokens. Next, tap on the "Receive" button to find your wallet's specific token or blockchain address.

Ensure you have selected the right wallet at the top — each wallet in your Best Wallet app will have a different address. To change your wallet, just tap the wallet.

Then select the wallet you want to receive your crypto to.

Once you have the right wallet, you can find your wallet address either via token or chain.

"Chain" is just a shortened version of "Blockchain Network", which also means crypto network. Because Best Wallet is multi-chain, each wallet will have several different blockchain addresses — one for Ethereum, one for Bitcoin, and so on. It's important to use the right wallet for your transfer.

Read our guide on crypto networks and how they work in Best Wallet.

You can either search for the specific token you are depositing or pick which chain your token is on.

For example, if you are sending Bitcoin, you can find your address via the token list:

Or via the chain tab:

Both options will bring you to the same Bitcoin-specific Receive page.

The long alphanumeric code at the bottom is your wallet's specific Bitcoin address. This means that this wallet address only works for Bitcoin transfers — if transferring Ethereum or any other token, please use that specific network or token address.

You can also copy the address to your device's clipboard, as well as sharing options.

By copying the address onto your clipboard, you can accurately paste it into the centralized exchange, ensuring a safe and accurate deposit.

Next, go to the centralized exchange website/app where your tokens currently reside. Once you access your account on the centralized exchange, navigate to the "Withdraw" or "Send" section within the exchange.

If you are struggling to find how to send crypto from that centralized exchange, they should have guides on how to send/withdraw tokens.

Choose the token you wish to transfer to your Best Wallet and then paste your Best Wallet address into the designated field.

Remember: You can only currently receive tokens from the Ethereum, BNB Smart Chain, Bitcoin, and Polygon networks in Best Wallet. Do not try to send any tokens on other networks, as it may result in a failed transaction or loss of funds.

Double-check that your address is correct; sending tokens to the wrong address could also result in the permanent loss of your crypto.

Once this is done, follow the exchange’s procedures to confirm your withdrawal. This may involve email or SMS confirmations for security purposes.

Blockchain transactions can take time to process. The time it takes can vary based on the network's congestion and the transaction fees.

You can track the transaction using a blockchain explorer specific to the network you used (e.g., Etherscan for Ethereum). The centralized exchange usually provides you with a transaction ID (TxID) to track this.

Read our guide on why your deposits are pending or not showing in Best Wallet.

Once the transaction is confirmed, open Best Wallet and view your balance on the app.

Your new balance should reflect the transferred tokens. If they don’t appear immediately, refresh the wallet or wait a few more minutes.

You will also see your tokens in the History sections of your Trade tab, labeled as a "Receive".

Note: Crypto transactions can vary in processing times, depending on which network you're depositing on (Ethereum's network can be slower than BNB Smart Chain's, and so on), how busy the crypto network is, and how much crypto you've sent.

If it doesn't show up instantly, this is normal and is waiting to be validated and processed on the network. You can track your deposit on the centralized exchange or a blockchain explorer website.

Best Wallet is a decentralized, non-custodial crypto wallet that offers you full control over your digital assets, aligning with the core principles of blockchain technology.

Unlike centralized exchanges, Best Wallet ensures that you are the sole owner of your private keys, which significantly enhances the security and control of your cryptocurrency holdings.

In Best Wallet, you can also manage your crypto funds in a simple, intuitive way. Buy, swap, send, and receive crypto all in-app, saving money and time when compared to centralized exchanges.

If you've tried the steps above and are still struggling to receive your tokens from a CEX to your Best Wallet, please contact the Best Wallet support team via [email protected] or open a ticket on our Support site.

Important reminder: Best Wallet will never request your wallet’s private key. Keep this information strictly private and do not share it with anyone.