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Storing Bitcoin on an Exchange is convenient for trading, but it comes with risks because the private keys of the wallet are controlled by the Exchange, not directly by the user. The principle that crypto investors have always upheld is "Not your keys, not your coins."

A Hardware Wallet is a device that stores private keys offline, reducing the risk of digital assets from online hacking, because every transaction must be confirmed directly through the device.

This article will explain the steps to transfer Bitcoin (BTC) from four Exchanges: Binance, Binance TH, Bitkub, and InnovestX to a OneKey Hardware Wallet, along with tips for safe usage.

Part 1 — Preparation before Transfer

Before every Bitcoin transfer, you should prepare your OneKey Hardware Wallet.

Step 1.1 — Install OneKey App and Connect Device

  • Download the OneKey App from the official website onekey.so on the device you want to use.
  • Open the OneKey App and connect your Hardware Wallet via USB cable or Bluetooth (depending on the model).
  • Unlock the device with your set PIN.
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The OneKey App Dashboard shows the connected device's name, connection status, and available wallets. If connected successfully, the device name will appear at the top of the screen.

Step 1.2 — Open Bitcoin Wallet and Copy Receiving Address

  • On the OneKey App Dashboard, select Bitcoin (BTC).
  • Press Receive.
  • The OneKey App will display the Bitcoin Address and QR Code.
  • Verify the address on the Hardware Wallet screen to ensure it matches the one shown in the app.
  • Copy the address for use in the next step.
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The Receive page displays the Bitcoin Address in text format and as a QR Code. Note that the Hardware Wallet screen will show the same address to confirm accuracy. Do not copy the address solely from the computer or phone screen; always verify it on the Hardware Wallet device.

⚠️ Precautions Before Every Transfer

  • Verify the address character by character, especially the first 5 and last 5 characters.
  • Select only the Bitcoin (BTC) Network. Do not select BEP20, ERC20, or any other network, as this will result in receiving WBTC instead of BTC. Read more about WBTC here.
  • Always test with a small amount first for the initial transfer.
  • Do not share your Seed Phrase or Private Key with anyone or enter them on any website.

Part 2 — Transfer BTC from Exchange to OneKey Hardware Wallet

2.1 Transfer BTC from Binance to OneKey

Step 2.1.1 — Access Withdraw Menu

  • Open the Binance app or visit binance.com.
  • Go to Assets, then select Spot.
  • Click Send.
  • Choose On-chain Withdraw.
  • Search and select BTC.
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The Binance Spot Wallet page displays a list of held assets. Click Send at the top, then type BTC into the search bar to select the coin you want to withdraw.

Step 2.1.2 — Select Network and Enter Address

  • In the Address field, paste the copied OneKey Bitcoin Address.
  • In the Network field, select BTC (Bitcoin Network).
  • Enter the amount of BTC you want to transfer.
  • Review the displayed fee.
  • Click Confirm.
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The Network field offers multiple options; select only BTC, which is the Bitcoin Mainnet. If you choose BEP20 or another network, you will receive WBTC instead of Bitcoin.

Step 2.1.3 — Confirm Transfer

  • Verify the Address, Network, and Amount are all correct.
  • Click Confirm.
  • Authenticate via Email OTP, SMS, or Authenticator App as prompted by the system.
  • Wait for the transaction to be confirmed on the Bitcoin Network, approximately 10–60 minutes.
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The confirmation page shows a summary of all information before proceeding with the transaction, including the destination address, network, amount of BTC to transfer, and fee. Verify everything before confirming, as transactions cannot be canceled.

2.2 Transfer BTC from Binance TH to OneKey

Step 2.2.1 — Access Withdrawal Menu

  • Open the Binance TH app or visit binanceth.com.
  • Go to Wallet.
  • Select Withdraw.
  • Search and select BTC.
  • Choose "Send via Crypto Network" as the withdrawal method.
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Click the "Withdraw" button and type BTC to search for the coin. Note that Binance TH's UI will differ from Binance Global, but the main steps are the same.

Step 2.2.2 — Select Network and Enter Details

  • Paste your OneKey Bitcoin Address into the designated field.
  • Select Bitcoin as the Network.
  • Enter the amount you wish to withdraw.
  • Review the fee.
  • Click Confirm.
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The address input field and network selection on Binance TH are similar to Binance Global. Always select Bitcoin as the Network.

Step 2.2.3 — Confirm Withdrawal

  • Verify all information is correct.
  • Click Confirm.
  • The system will request authentication via Email or Authenticator App, as set up.
  • Wait for the transaction to complete.
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The confirmation page will summarize all withdrawal details. Verify the destination address, network, and amount are correct before confirming.

2.3 Transfer BTC from Bitkub to OneKey

Step 2.3.1 — Access Withdraw Menu

  • Open the Bitkub app or visit bitkub.com.
  • Go to Wallet and select BTC.
  • Click Withdraw.
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Bitkub's Wallet page displays the list of held coins. Select BTC and click "Withdraw" to access the Bitcoin withdrawal page.

Step 2.3.2 — Enter Address and Amount

  • Paste the OneKey Bitcoin Address into the Wallet Address field.
  • Ensure the Network is Bitcoin.
  • Enter the desired amount of BTC to withdraw.
  • Check the Fee.
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Bitkub's withdrawal form includes fields for Wallet Address and the amount to withdraw. Double-check the address before proceeding, as Bitkub uses the Bitcoin Network as the default for BTC.

Step 2.3.3 — Confirm and Wait for Results

  • Review all information.
  • Click Confirm.
  • Verify your identity as prompted by the system.
  • The status will change to Pending and update once the transaction is confirmed.
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After confirmation, the transaction status will show as Pending, meaning it's awaiting confirmation on the Bitcoin Network. This typically takes 10–60 minutes, depending on the fee and network congestion at the time.

2.4 Transfer BTC from InnovestX to OneKey

Step 2.4.1 — Access the Withdraw Menu

  • Open the InnovestX app.
  • Go to Digital Asset Account.
  • Click Withdraw.
  • Select BTC.
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InnovestX's digital asset wallet page displays the list of held coins. Select BTC and click "Withdraw" to access the Bitcoin withdrawal page.

Step 2.4.2 — Select Network and Enter Address

  • Paste the OneKey Bitcoin Address into the Wallet Address field.
  • Ensure the Network is Bitcoin (BTC).
  • Enter the desired amount to withdraw.
  • Review the displayed Fee.
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InnovestX's withdrawal form includes fields for Address, Network selection, and BTC amount. Make sure to select only the Bitcoin Network and accurately paste the OneKey Address.

Step 2.4.3 — Confirm and Wait for Results

  • Verify that the Address, Network, Amount, and Fee are all correct and complete.
  • Click Confirm.
  • Complete identity verification via OTP or Authenticator App as prompted by the system.
  • Wait for the status to change from Pending to Completed.
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The confirmation page summarizes all withdrawal details before processing. After confirmation, the status will be Pending, awaiting confirmation on the Bitcoin Network for approximately 10–60 minutes.

Part 3 — Recommendations and Precautions

Always verify the network.

Selecting the wrong network is the most common mistake. Bitcoin must only be transferred via the Bitcoin Network. If transferred via BEP20 (Binance Smart Chain) or ERC20 (Ethereum), the coins will not be received and may be permanently lost.

Always test with a small amount first.

For the first transfer to a new address, send a small amount first, such as 0.0001 BTC, to confirm that the coins are received correctly. Then, transfer the full amount afterward.

Compare fees from each exchange.

Each exchange has different withdrawal fee policies. Always check before making a transaction. Generally, fees are clearly displayed on the confirmation page before sending.

Waiting time for confirmation on the Bitcoin Network

The Bitcoin Network takes approximately 10 minutes per block. Most exchanges require 1–3 confirmations before crediting an account, so it's advisable to wait about 10–30 minutes under normal conditions. If the network is congested, it may take up to 60 minutes or more.

Never disclose your Seed Phrase under any circumstances.

The Seed Phrase is the backup key for your Hardware Wallet. No exchange company or support team needs to know a user's Seed Phrase. If anyone requests it, consider it a scam immediately.

Conclusion

Transferring Bitcoin from an exchange to a OneKey Hardware Wallet is a fundamental skill that crypto investors should master. The key principles to remember are always to verify the address and network before confirming any transaction and to confirm the transaction on the Hardware Wallet device before sending.

Storing Bitcoin on a Hardware Wallet significantly reduces the risk of hacking or exchange issues and is a recommended practice for long-term asset holders.

This article provides basic information only. The interfaces of exchanges and the OneKey App may change with software updates. Always refer to the official guides of each platform in conjunction with this information.

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