Phantom supports Solana, Ethereum and Polygon assets only. Before you send tokens to a centralized exchange ensure they support the token and the network on which the assets are transferred. If you are unsure, contact exchange support.
First, you need to get the exchange deposit address. Login to your exchange account, get to the crypto deposits section and select the token and the network. Here is an example of the Binance and Coinbase deposit section.
Copy the address from the deposits section and make sure you have selected the right token in the right network. Make no mistakes, if there is an error in address/token/network your funds are lost forever. Never free-hand type the address, always copy-paste.
Open up your Phantom wallet and click on "Send", search for the token you would like to send and select the right chain. You may notice some tokens on multiple chains, here you can differentiate between them using their native token icon pinned to the logo.
1. Native tokens(ETH, SOL and MATIC) will not have token icons pinned to them.
2. If you are transferring non-native tokens, you need to ensure that you have sufficient native tokens to cover the transaction fee.
For eg. You need ETH to transfer assets on the Ethereum network similarly you need SOL and MATIC to pay the transaction fee on their network.
Paste the address copied from the exchange deposit section, enter the token amount to transfer and click on "Next". Finally, verify the token amount, network and click on "Send" to initiate the transaction. You will get the confirmation once the transaction is complete.
The time to get confirmation will vary depending upon the network and the network fee, you can click on "View transaction" to view the status of the transaction on the blockchain explorer. Also, the activity tab at the bottom right will display the transaction status, click on it to review the transaction details.
Note: The deposit might not reflect immediately as some exchanges take time to verify your deposit and process them on your exchange account. Read more about it here.