Post by account_disabled on Mar 7, 2024 11:01:10 GMT
User safety and security are one of Binance's top priorities. With this new funding password feature, users will be able to release orders with a predefined password, instead of using Google or SMS authentication.
This new security feature speeds up order release and reduces the likelihood of users suffering from phishing attacks disguised as authentication messages sent by Binance.
Our new Fund Password feature, available in the Binance app, is a security tool that will help you transact on Binance P2P even faster and more securely.
Peer-to-peer (P2P) trading involves users buying and selling cryptocurrencies directly with each other without the need for an intermediary. This method offers sellers the freedom to choose their preferred payment method, while buyers have the flexibility to buy cryptocurrency from whoever they want and at the price they prefer.
Since its launch in 2019, Binance P2P offers users unmatched liquidity and high security. Additionally, with over 700 payment methods and 100 local currencies supported, the platform is also one of the easiest gateways to access cryptocurrencies.
Since its launch, we have strived to continually improve the security and trading experience of users. That's why we're introducing the new Fund Password feature, a security mechanism that makes transactions on our P2P exchange platform faster and more secure than ever.
What is the funds password and when can you use it?
It is currently only available on the Ecuador Mobile Number List Binance app . This funding password allows users to release orders with a predefined password instead of via two-factor authentication powered by Google or SMS. Can be used with orders valued at $500 or less .
Please note that Funding Password is only available on Binance App version v2.55.0 or higher.
Advantages of enabling your funds password
By enabling your funding password, you can potentially avoid the issue of receiving delayed authentication text messages due to poor connectivity or issues with local mobile operators. The funds password can also speed up the release of orders, and more importantly, minimize the chances of users falling victim to phishing SMS messages.
Trusted by millions of users around the world, Binance P2P offers low transaction fees and flexible payment methods. Start trading today.
How to enable funds password
1. Log in to your Binance app and go to P2P Trading.
2. Select your preferred fiat currency and click on [...] . Then, from the drop-down menu, select [Ad Mode] . Then, go to [Profile] .