1. Depositing into Binance from Korea
Korean won cannot be deposited directly into Binance in the process described here. Instead, use a Korean exchange as an intermediary.
Method 1: Transfer XRP—the preferred route in this guide
- Buy XRP on Upbit or Bithumb.
- In the Binance app, open Wallet → Deposit → XRP.
- Copy the address and tag or memo; the tag is essential.
- Withdraw XRP from Upbit and enter the Binance address and tag.
- Arrival usually takes 1–5 minutes.
⚠️ Always enter the tag or memo
Omitting the tag during an XRP transfer can result in lost funds. Copy and paste both the address and tag exactly.
Method 2: Transfer USDT over TRC20
After buying USDT on Upbit, the route described here sends it through the TRC20 network on Tron, with an estimated fee of about 1 USDT. The article contrasts this with ERC20 on Ethereum, estimated at $5–20.
Method 3: P2P trading
The Binance P2P market described here allows direct purchases of USDT using Korean won, paid by bank transfer with escrow. A premium of 1–3% may apply.
2. Withdrawing from Binance
Withdrawing to Korea: Reverse the process
- Buy XRP on Binance or convert USDT to XRP.
- Check your Upbit XRP deposit address and tag.
- In Binance withdrawals, select XRP and enter the Upbit address.
- Sell XRP for Korean won on Upbit.
- Withdraw the won to your bank account.
3. Why network selection matters
Even for the same coin, fees and speed differ significantly between networks:
- ERC20 (Ethereum): Slower and more expensive ($5–20); not favored in this guide.
- TRC20 (Tron): Fast and inexpensive ($1); favored in this guide.
- BEP20 (BSC): Very inexpensive ($0.1); may be unsupported by Korean exchanges.
- XRP: Fast and inexpensive ($0.01); the guide's preferred option.
💡 Core principle
The sending and receiving sides must use the same network. Sending over a different network can permanently lose funds.
4. Fee comparison
- XRP transfer: almost free, at 0.25 XRP ≈ $0.15.
- USDT TRC20: about 1 USDT.
- BTC transfer: about 0.0001 BTC ≈ $8.7.
- ETH transfer: about 0.001 ETH ≈ $3.5.
For the examples in this guide, XRP is favored for small or frequent transfers, and USDT TRC20 for larger amounts.
5. Deposit and withdrawal precautions
- ✅ Test with a small amount before sending a larger transfer.
- ✅ Always copy and paste addresses; do not type them manually.
- ✅ Confirm that both sides use the same network.
- ✅ Assets such as XRP, XLM and ATOM require the correct tag or memo.
- ✅ Enable a withdrawal allowlist to improve security.