Binance Insufficient Balance Error Solved
There may be multiple reasons for receiving an Insufficient Balance error while trying to use Binance exchange, the most likely one being you don’t have enough funds in your account – either because you forgot to top up or your bank has blocked your card due to suspicious activity – however there are steps that can be taken easily to address this issue.
One possible cause for this error could be having too many open orders that are blocking funds from being available for new trades, such as when using DCA or GRID bots that create limit orders to protect essential coins from being over allocated by overusing margin. This error message appears when there are too many open orders blocking funds needed for trades that cannot take place at once.
Insufficient Balance error can also occur if you attempt to send more funds than are in your account after accounting for transaction fees (the fees paid out when transactions are added to the blockchain). When sending large quantities of tokens or cryptocurrencies it’s essential that there are enough funds in your account in order to pay these transaction fees; to do this safely reduce the quantity being sent before using Send All Funds which automatically adjusts sending amounts based on this factor.
Finally, this error may also appear if you attempt to transfer coins between your Binance account and a bank account or other exchanges. Crypto transfers usually require some of the coin you’re trying to transfer in order to be processed – this process is known as the “burn rate”, and it is vital that there is enough for any transactions you are trying to complete.
