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How to Set Your Binance NFT Account Limits to Protect Your Assets

2022-03-01 06:29
To ensure a safe and secure NFT trading experience, you can now customize your NFT purchasing and listing limits and set up a Pay PIN on Binance NFT. These updated measures can help protect your account from phishing malware.

How to Customize Your NFT Total Asset Listing Limit?

1. Go to Binance NFT and click [User Center] - [Settings] - [Account Limit].
Please note that all items listed under [Account Limit] will be displayed in BUSD instead of USD.
2. You will see a pop-up with your current limits. To customize the limit, complete Two-Factor Authentication (2FA) and click [Edit].
  • Total Asset Listing Limit: The maximum amount you can list for your NFTs. This limit requires additional confirmation from you so as to prevent you from listing a high-priced NFT by mistake.
For example, you own a 20,000 BUSD NFT and several 30-50 BUSD NFTs in your Binance NFT Wallet, and your Total Asset Listing Limit is set to 10,000 BUSD. If you want to sell the 20,000 BUSD NFT, you will have to verify the listing by 2FA first.
Please note that you are only allowed to change your limit 3 times per day.
3. You may also see the below pop-up when you list an NFT:
  • Verification Required
This means the amount of the NFT you are trying to list has exceeded your Total Asset Listing Limit. If you still want to list it, click [Raise Limit] and complete 2FA.
Please note that once you complete 2FA, your listing limit will be updated to that amount.

How to Set Up Your Password-Free Purchase Limit Per Transaction?

1. Log in to your Binance account on the Binance NFT Marketplace and go to [User Center] - [Settings] - [Account Limit]. Click [Edit] under [Password-free Purchase Limit (Per Transaction)].
2. Enter your desired purchase limit and click [Continue]. The default transaction limit is 500 BUSD and the password-free amount limit per transaction is capped at 100,000 BUSD.
3. Complete 2FA and click [Continue] to set your new payment limit.

How to Set Up Your Pay PIN?

1. Log in to your Binance account on the Binance NFT Marketplace and go to [User Center] - [Settings] - [Account Limit]. Click [Set Pay PIN] under [Password-free Purchase Limit (Per Transaction)].
2. Enter a 6-digit number as your Pay PIN and click [Confirm]. Please note that your PIN cannot be in a simple or reverse order (e.g. 123456 or 987654), and the same number cannot appear more than twice.
3. Complete 2FA and click [Continue] to set your Pay PIN.

How to Make an NFT Purchase with Your Pay PIN?

When the price of the NFT or Mystery Box you are buying exceeds the Password-Free Purchase Limit (Per Transaction), you will be required to enter your Pay PIN to confirm the purchase.
1. Log in to your Binance account on the Binance NFT Marketplace. Find the NFT or Mystery Box you wish to buy and click [Buy Now] or [Make Offer].
2. Enter the price you would like to purchase or bid and click [Buy Now] or [Bid Now] accordingly.
3. If the price of the NFT or Mystery Box you’re buying exceeds the Password-Free Purchase Limit (Per Transaction), you need to enter your Pay PIN to confirm the transaction.
If you haven’t set up your Pay PIN, you will be asked to perform 2FA instead.
In scenarios where the Binance risk management policies are triggered, you may be asked to enter the Pay PIN or complete 2FA when you purchase NFTs or Mystery Boxes.
4. Once completed, your bid or purchase will be deemed successful. To view your offers, go to [Profile] - [User Center] - [Offers] and click [Offers Made]. To view your purchase, click [Collections] in the pop-up after the payment.

Frequently Asked Questions

1. Why is the Daily Total Purchase Limit no longer configurable?
We have replaced the Daily Total Purchase Limit with the new Password-Free Purchase Limit (Per Transaction) to enhance user experience.
2. When is the Pay PIN required?
When the price of the NFT or Mystery Box you are buying exceeds the Password-Free Purchase Limit (Per Transaction), or when our risk management policies are triggered, you’ll be required to enter the Pay PIN.