This Is How Long It Takes To Transfer BNB

Key Takeaways:

• Binance Coin (BNB) transfers sent through Binance Exchange or Trust Wallet typically take 5 minutes to execute.
• The number of blockchain confirmations, network traffic, and withdrawal suspensions are the main factors that influence BNB transaction speeds.
• Choosing the right crypto exchange and blockchain, increasing the gas fee, and avoiding peak times are the best ways to ensure a BNB transaction will be as fast as possible.

How Long Does It Take to Transfer BNB?

Transferring BNB from one place to another can be quite quick compared to most of its counterparts. The transaction speed to complete one block takes approximately 3 seconds. However, this isn't the exact time taken to complete a transaction. On average, a BNB transfer will take around 5 minutes to complete when sent from Binance Exchange or Trust Wallet.

Although, the time required may increase to around 10-12 minutes if the BNB tokens are being sent from an external wallet. In short, Binance products transfer BNB tokens faster when compared to other leading crypto exchanges or wallets. Among the other two, centralized exchanges have quicker transfer speeds when compared to a Defi Wallet.

How Do BNB Transactions Work & Affect The Speed

BNB transfers operate on three main networks. There is BEP2, the BNB Beacon Chain, the BNB Smart Chain, and the last option is ERC20 via the Ethereum network. Binance Smart Chain or BEP20 is the BNB token used to interact with all types of Defi protocols on the chain. The Beacon Chain, however, is used solely to pay fees on the Binance exchange. However, the BEP2 token can be changed to a BEP20 token easily.

The Ethereum Network is a popular medium for sending BNB tokens from one place to another. As mentioned above, the network confirmation determines the speed at which tokens can be transferred primarily. Binance supports the three aforementioned chains and has the following network confirmations:

Binance Chain	Number of Confirmations
BEP2 (BNB Beacon Chain)	1 Network Confirmation
BEP20 (BNB Smart Chain)	15 Network Confirmations
ERC20 (Ethereum Chain)	12 Network Confirmations

Factors Affecting BNB Transfer Speeds

Ideally, the BNB transfer speed is affected directly by the exchange or wallet used. But some aspects that may affect the speed of a normal BNB transfer include:

1. The number of blockchain confirmations. Confirmed transactions are those that have been included in a block. Therefore, the payment can be processed after confirmation, as it would be officially verified and recorded. If the blockchain confirmations on a particular exchange for transfer are higher than usual (this isn't a fixed number), then the transaction may take longer. Lower BNB blockchain confirmations mean lower transfer times.
2. Network congestion. Various networks can facilitate the transfer of tokens. However, a huge number of transaction requests may be processed at a time, which could cause the network to slow down. For instance, if the transaction requests on the Ethereum chain are very high and the user has selected it as the transfer medium, then BNB tokens may take longer to reach the destination.
3. The network stopped withdrawals. The chain can suspend transfers if there is any chance of a hack or exploit that could end with users losing their funds. This is common sense; hackers aim to exploit bugs on several blockchains and drain funds. Thus, transfers will be immediately suspended if a user tries to send BNB tokens and the network detects a hack or bug exploit on its chain. So, the user may have to wait longer or might even have their transfer request canceled midway. Funds, however, will not be lost in this case.
4. Non-Custodial Wallet Transfer. While this may be a negligible difference, the transfer could take longer if the user sends BNB tokens from a decentralized platform. Centralized exchanges can cater to transfer requests quicker than non-custodial wallets. Thus, transferring from the Binance exchange to another centralized exchange may be faster than one made using a decentralized wallet like Metamask.

BNB Isn't The Fastest Cryptocurrency

BNB is one of the fastest cryptocurrencies to send compared to several other top tokens. For instance, the Binance Smart Chain that supports BNB can carry out 300 transactions per second. This is impressive when compared to options like Ethereum, which can only facilitate around 15 transactions in a second. However, several other cryptos have a much faster transfer time than BNB. For example, the transfer speed of Solana is 3400 TPS (Transaction Per Second) by comparison.

You Can Speed Up BNB Transactions

There is no guaranteed method to speed up a BNB transaction voluntarily or manually. However, taking care of certain aspects during a transaction could help the user lower the time required to get their BNB tokens to the desired destination. Some of these actions include:

• Increase the gas fee. This is a rather simple method to ensure that the BNB transfer is quicker. On some blockchain networks, the user can determine gas fees by themselves. The validator will have to process transfers of several other users simultaneously. Higher fees will simply incentivize the respective validator to give the user’s transfer a better preference. This way, increasing the gas fee could help with the transfer speed for BNB.
• Choose the right medium of exchange. Various exchanges have different transfer times. Depending on the blockchains and capacity of the exchange or wallet, the time of transfer may also reduce or increase. Ideally, a reputed centralized exchange with high liquidity will be able to transfer assets more easily and quickly than a decentralized wallet. Thus, choosing the right medium for transferring BNB tokens could also help in reducing the time required.
• Avoid transferring during peak times. Transferring their BNB tokens as soon as possible may be required. However, for those who are not in a hurry and can wait to transfer their tokens, this method can be helpful. Blockchain aggregators like BSCscan record transactions in real-time. It provides the data for users to understand if the blockchain is crowded. Subsequently, the user can look for a time when there is no evidence of blockchain congestion and then make the transfer. This will not only make the transfer quicker but can also help the user avoid having to pay a higher fee.
• Choose the right blockchain network. This is vital if the user has to send funds instantly and cannot afford a delay. On every major exchange that hosts the BNB tokens, there will be several options for blockchain networks that are supposed to carry out the transfer. Choosing the right chain will be detrimental to the speed at which BNB tokens reach the destination.

Frequently Asked Questions