To transfer DAI from Binance to MetaMask, first, you need to import the DAI token to your MetaMask wallet.
Then, copy the MetaMask address and paste it into the Withdrawal window on Binance.
Enter the amount of DAI that you wish to send.
Complete the verification process. That’s it.
You can also send DAI via Binance Smart Chain (BSC) networks depending on your purpose of using DAI.
If you send DAI via BSC, it will become DAI BEP20 and you cannot use it in the Ethereum ecosystems.
- Steps to Transfer DAI from Binance to MetaMask
- Steps to Transfer DAI from Binance Mobile Application to MetaMask Application
Steps to Transfer DAI from Binance to MetaMask
- Install MetaMask
- Import DAI token to MetaMask
- Copy the MetaMask Address
- Select DAI in Binance
- Paste the MetaMask Address and Enter the Amount
- Complete the Verification
- Check the Recent Withdrawals
- Check your MetaMask
1. Install MetaMask
You can skip this step if you already have installed the MetaMask extension.
First, download the MetaMask wallet extension.
MetaMask is available as an extension for Chrome, Firefox, Edge, and Brave browsers.
Next, you need to set up your account after the download.
The account setup process includes creating a password and storing the recovery phrase.
You can refer to this guide for further clarification: How to Create and Set Up MetaMask Wallet.
2. Import DAI token to MetaMask
To receive and view DAI in MetaMask, you need to add the DAI token earlier.
To add DAI to MetaMask, usually, you need to copy-paste its contract address.
But, MetaMask has a list of inbuilt token lists from which we can add tokens in a single click.
To do this, launch your MetaMask and click Import Tokens.
Note: Make sure you are in the Ethereum Mainnet.
After clicking the Import Tokens, you will be in the Search tab.
Type as DAI in the given search box.
DAI stable coin will appear.
Click on it and click Next.
Then, click Import Tokens.
That’s it. You have added the DAI token to MetaMask.
3. Copy the MetaMask Address
After adding the DAI token to MetaMask, you need to copy your MetaMask address.
To copy the address, you need to simply click just above your ETH balance.
4. Select DAI in Binance
Log in to your Binance account.
You will be able to see Wallet in the upper right corner of the webpage.
Click Wallet and followed by click Fiat and Spot.
Now, you will be able to see your crypto assets.
Find DAI on the list. You can use the search box to find it.
Once you have found DAI, click Withdraw.
In case you have bought DAI via P2P Trade, you can find it on Funding Wallet.
To send/ transfer DAI to MetaMask or another recipient’s address, you need to transfer it to Fiat and Spot wallet.
To transfer DAI from Funding to Fiat and Spot wallet, find DAI on the Funding wallet.
Then, click on the three dots on the right side of DAI.
Then, click Transfer.
Select Funding on the From field and Fiat and Spot on the To field.
Enter the amount of DAI to transfer.
Lastly, click Confirm.
Then, repeat this step from the start.
5. Paste the MetaMask Address and Enter the Amount
After clicking Withdraw, you will be able to see the Withdrawal window.
There you need to paste the MetaMask address that you have copied in Step 3.
Then, select the Network address as ETH Ethereum (ERC20).
Enter the amount of DAI that you wish to send.
Lastly, click Withdraw.
Note: You need to send a minimum of 30 DAI.
After clicking Withdraw, a confirmation popup will appear.
Check the address again & the network and click Continue.
6. Complete the Verification
After clicking Continue, there will be an authentication page.
You need to enter the OTP sent to your email and mobile to proceed further.
Just after completing the security confirmation, you will see a Withdrawal Request Submitted pop-up.
Click Complete.
7. Check the Recent Withdrawals
You can now check the Recent Withdrawals section.
Just scroll down to reach the Recent Withdrawal Section on the Withdrawal window page.
8. Check your MetaMask
It took us 7 minutes to receive DAI on our MetaMask wallet.
After a few minutes, open your MetaMask wallet extension and check your balance.
Steps to Transfer DAI from Binance Mobile Application to MetaMask Application
- Install MetaMask Application
- Add/ import DAI Token to MetaMask
- Copy the MetaMask Address
- Select DAI in Binance
- Paste the MetaMask Address and Enter the Amount
- Complete the Verification
- Check your MetaMask
1. Install MetaMask Application
You can skip this step if you have already installed MetaMask mobile application.
First, download the MetaMask application.
MetaMask is available as a mobile application on Android and iOS.
After the download and installation, you need to create a password and store and verify your recovery phrase to create an account.
Refer to this guide for step by step process, How to Create and Set Up MetaMask Wallet.
If you already have a MetaMask account, you can import that account using your recovery phrase.
2. Add/ import DAI token to MetaMask
To receive and view DAI in MetaMask, you need to add the DAI token earlier.
To add DAI to MetaMask, usually, you need to copy-paste its contract address.
But, MetaMask has a list of inbuilt token lists from which we can add tokens in a single tap.
To do this, launch your MetaMask application and tap Import Tokens.
Note: Make sure you are in the Ethereum Mainnet.
After tapping the Import Tokens, you will be in the Search tab.
Type as DAI in the given search box.
DAI stable coin will appear.
tap on it and tap Import.
That’s it. You have added the DAI token to your MetaMask application.
3. Copy the MetaMask Address
After adding the DAI token to the MetaMask application, you need to tap on the address just below the network dropdown button.
4. Select DAI in Binance
Open the Binance mobile application.
Tap on the Wallet Icon.
Now, you will be able to see: Deposit, Withdraw, and Earn.
Tap on Withdraw.
Then, tap on Crypto.
Choose DAI.
5. Paste the MetaMask Address and Enter the Amount
A Send window will appear after tapping on DAI.
Paste the MetaMask address that you have copied in Step 3.
Then, select the Network as Ethereum (ERC20).
You can also send via the BSC network. Ensure to match the network at the receiver’s end.
Otherwise, there will be a loss of assets.
Lastly, enter the amount of DAI to send.
Tap on Withdrawal.
Now, the confirmation pop-up will appear. Check MetaMask wallet address and tap on Confirm.
6. Complete the Verification
Next, you need to authenticate the transfer.
Type in the verification codes received in your e-mail and phone and tap Submit.
7. Check your MetaMask
It took us 7 minutes to receive DAI on our MetaMask wallet.
After a few minutes, open your MetaMask wallet extension and check your balance.
Conclusion
Sending DAI to MetaMask is a simple task.
Ensure the select the right network and copy-paste the right address.
To send DAI from Binance to MetaMask, there will be a withdrawal fee of 10 DAI ($10).
If you want to send DAI via the BSC chain, there will be a withdrawal fee of 0.8 DAI ($0.7996).