There will no longer be a P2P Wallet entry on Binance. Here are the details of the wallet migration.
In order to provide a smoother user experience, Binance will gradually merge users’ P2P accounts into capital accounts starting from 08:00 on August 19, 2021 (East Eighth District time).
After the merger, the user’s capital account will display the balance of P2P’s purchase and sale of digital currency, as well as the total asset balance of Binance Payment, Binance Card, and other businesses.
After the P2P account is disabled, the fund account will support the P2P transaction function.
The specific contents of account consolidation include:
- After the account is merged, the entrance of the P2P account will be canceled, including the navigation bar and the wallet list on the left side of the wallet overview.
- After the account is merged, the digital currency purchased by the user through the P2P channel will be directly transferred to the fund account. When users sell digital currencies through P2P channels, their assets will also be deducted from their capital accounts.
- After the account is merged, the user will no longer be able to transfer in and out of the P2P account, but the P2P account transfer record before the account merge can still be viewed on the wallet history page.
- When the account is merged, if the user has assets in the P2P account, the system will automatically transfer the assets to the capital account.
- The system will open a fund account by default for users who register after 08:00 on August 19, 2021 ( East Eighth District Time).
Due to the large number of users involved in the adjustment this time, the system will adjust in batches, and users who have completed the account merger will receive a reminder on the wallet page. During the adjustment period, some users can still use P2P accounts.