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How to Enable Fund Password on Binance P2P

How to Enable Fund Password on Binance P2P

2022-11-30 12:21

What is the Fund Password?

Fund Password lets you quickly release Binance P2P orders with a preset password instead of using Two-Factor Authentication (2FA). You can use the Fund Password for orders less than or equal to 500 USD.
Please note that the Fund Password feature is currently only available on the Binance App (v2.55.0 or above).

Benefits of enabling the Fund Password

By enabling the Fund Password, you can avoid the problem of delayed SMS authentication caused by poor connectivity or local mobile carriers. The Fund Password also facilitates a faster release for P2P orders and, most importantly, minimizes the chances of users falling prey to phishing SMS messages.

How to enable the Fund Password on the Binance App?

1. Log into your Binance App and go to P2P Trading.
2. Select your preferred fiat currency and tap [...] - [Advertisement Mode]. Tap [Confirm] to switch to Advertisement Mode.
3. Tap [Profile] at the bottom right and select [Fund Password].
4. Read the Fund Password risk warning carefully and check the box to confirm. Then tap [Enable].
5. Follow the instructions on the screen to set your Fund Password. To ensure that your password is secure, we recommend that it contains at least eight characters, with a minimum of one capital letter and one number. Tap [Confirm] to set up.
6. To enable or disable your Fund Password, toggle the button next to [Fund Password].
7. You can now confirm transactions by entering your Fund Password instead of completing Two-Factor Authentication (2FA).