How do i transfer from p2p to spot wallet binance

To trade on

Binance P2P

, you need to transfer the assets from your Spot Wallet to your Funding Wallet manually.

How to transfer assets from Spot Wallet to Funding Wallet?

1. Log in to your Binance App and tap [Wallets][Spot][Transfer].

You can also log in to your Binance account on the Binance website and go to [Wallet][

Fiat and Spot

] [Transfer].

2. Choose [Funding] as the destination wallet. Select the crypto you want to transfer and enter the amount. Then, tap [Confirm Transfer].

3. To view your transfer history, tap on the [History] icon on the top right.

You can also view it from [Transaction History][

Transfer

].

Binance had rolled out a gradual P2P wallet migration from August 19, 2021, to provide a better user experience. As of December 2021, the total migration process had come to an end.

As a result, there will be no P2P wallet anymore. All the transactions from P2P trading will reflect in the Funding Wallet.

For example, if you have bought ADA via P2P, that will be in your Funding Wallet. You can again sell this via P2P without making any wallet transfer.

But, if you have assets in the Spot wallet, you need to transfer that asset to the Funding wallet in order to make P2P trade.

The Funding Wallet in Binance is the wallet that holds all the assets traded via P2P. It reflects the total balance of all P2P trades, Binance Pay, and Binance Card.

Funding Wallet = Balance of (P2P buy/sell orders + Binance Pay + Binance Card)

Steps to Transfer Assets from Spot Wallet to Funding Wallet

1. Hover to Wallet

After logging in to the Binance website, look at the top right corner of your browser window.

There you can see the Wallet option.

Hover to it.

2. Click Overview

Once you hover to it, you can see many options in the drop-down.

Click on Overview.

Transfer assets from spot wallet to funding wallet

3. Click Transfer

After clicking Overview, you can see the Wallet Overview section.

 There you can see Deposit, Withdraw, and Transfer.

Click on Transfer.

Transfer assets from spot wallet to funding wallet

Upon clicking Transfer, you can see a pop-up window name Transfer.

There you can four fields; however, in this step, we will be focusing on the first two fields. 

In the From field, Fiat and Spot will be shown automatically. That’s fine. Leave it as such.

In the To field, Cross Margin will be shown automatically. This is where you need to modify.

Click on the Cross Margin, you can see Funding. Click on it.

Transfer assets from spot wallet to funding wallet

4. Select the Coin and Enter the amount

Now, Let’s move on to the third and fourth fields.

The third field is Coin, here you need to select the coin which you want to transfer.

Click on the drop-down menu and select.

Once you have selected the coin, you need to move on to the next field Amount.

Enter the amount of the asset that you want to transfer. If you want to transfer the whole amount of the asset you have chosen, click on Max.

Lastly, click on Confirm.

Transfer assets from spot wallet to funding wallet

Note: Internal transfers are always free on Binance.

That’s all. You have transferred your asset from Spot Wallet to Funding Wallet.

5. Check the Transfer history

To check your transfer history, you need to click on Transaction History, which is located near the Transfer.

Binance transfer history

Then, click on Transfer.

Binance transfer history

Here, you can see your transaction history.

Steps to Transfer Assets from Spot Wallet to Funding Wallet in Binance Mobile Application

1. Switch to Binance Pro Mode

Get inside your Binance mobile application.

By default, you will be in Binance Lite Mode.

To transfer your asset from Spot Wallet to Funding Wallet, you need to switch to Binance Pro Mode.

To switch into Binance Pro Mode,

  • Tap on your profile icon

  • Tap the toggle icon

Binance lite mode to pro mode

Binance lite mode to pro mode

That’s it. You are in Pro Mode.

2. Tap Wallets

Once you are in the Pro Mode, tap on the Wallets option located at the bottom of your mobile window.

Transfer assets from spot wallet to funding wallet

3. Tap on Transfer

After tapping the Wallets, you will be in the Overview section.

There you can see three options: Deposit, Withdraw, and Transfer.

Tap on Transfer.

Transfer assets from spot wallet to funding wallet

Now, you can see four fields: From, To, Coin, and Amount.

In this step, we will be focusing on the first two fields.

Spot Wallet will automatically appear in the From field. This is fine. Leave it as such.

Funding will automatically appear in the To field. This is fine. Leave it as such.

In case you have anything apart from Spot Wallet and Funding in From and To fields, you need to change it.

4. Select the Coin and Enter the amount

Now, you need to move on to the third and fourth fields.

In the third field, choose the coin/ asset which you want to transfer.

In the fourth field, enter the amount of asset that you want to transfer. Click on Max if you want to transfer the entire amount of the asset.

Lastly, click on Confirm Transfer.

Transfer assets from spot wallet to funding wallet

Note: Binance will charge you nothing for the internal transfers.

That’s it. You have successfully transferred your asset from Spot wallet to Funding Wallet.

5. Check the Transfer history

If you want to check your transfer history, it is possible and easy.

Just click on the clock icon in the Transfer window.

Binance transfer history in application

 

FAQs

1. Which Wallet should I use for P2P trading?

Since Binance migrated the P2P wallet to the Funding Wallet, you need to use the Funding Wallet for P2P trades. In case the asset that you want to trade via P2P is located in the Spot wallet, you need to transfer it manually to the Funding Wallet and then initiate your P2P trade.

2. Is Binance’s P2P wallet disabled? Or Why is the P2P wallet not showing? Or Why is Binance P2P wallet inactive?

Binance migrated the P2P wallet to the Funding Wallet. During this process, the funds in the P2P wallet are automatically transferred to the Funding Wallet.

Hence, yes, Binance disabled the P2P wallet for a better user experience. That is why the P2P wallet is not showing/ inactive.

Share this:

To trade on

Binance P2P

, you need to transfer the assets from your Spot Wallet to your Funding Wallet manually.

How to transfer assets from Spot Wallet to Funding Wallet?

1. Log in to your Binance App and tap [Wallets][Spot][Transfer].

You can also log in to your Binance account on the Binance website and go to [Wallet][

Fiat and Spot

] [Transfer].

2. Choose [Funding] as the destination wallet. Select the crypto you want to transfer and enter the amount. Then, tap [Confirm Transfer].

3. To view your transfer history, tap on the [History] icon on the top right.

You can also view it from [Transaction History][

Transfer

].

Welcome to 6method crypto hub, here I will teach you how to transfer assets from a p2p wallet to a spot wallet on Binance app.

In some circumstances, you may want to trade on a traditional cryptocurrency exchange. To transfer your funds from Binance P2P to Binance’s cryptocurrency exchange, you’ll need to move your funds from your P2P wallet to your Spot wallet. 

What is Binance Spot Wallet?

The term “Spot” comes from “Spot Markets”, which are markets where financial assets can be traded for immediate delivery—or “on the spot”. Most mainstream exchanges connect buyers and sellers to Spot markets by default. Your aptly named Spot wallet stores the funds you can use to trade on Binance’s spot markets.

The first way to transfer your tokens from a P2P wallet to a Spot wallet is the easiest. When you purchase some tokens, a corresponding button will appear on your screen.

However, if you don’t take advantage of this opportunity, you will need to perform several actions to transfer your money at a later time.

Binance P2P Wallet To a Spot Wallet (complete guide)

  • Click on the top navigation bar, tap the “P2P” button.
  • Select the coin you want to transfer from the list of assets that appears on the screen and tap “Transfer”.
  • Select “Spot Wallet” in the upper right field and enter the transfer amount. Tap “Confirm Transfer”.
  • Finally, verify the amount transferred to your spot wallet by going to the “Fiat And Spot” tab.

Is Binance spot wallet safe?

Binance is one of the world’s most safe and trustworthy exchanges that features multiple layers of ‘bank-like security measures and management protocols to ensure the 100% safety of its customer’s personnel information and funds.

Hope you git value here on this complete guideline on how to transfer assets from a p2p wallet to a spot wallet.

Please Remember to share with others.

Latest Article:

Binance is gradually migrating P2P Wallets to Funding Wallets to enhance user experience. If you have a P2P Wallet, your funds will be migrated to your Funding Wallet. For more details, please refer to the migration schedule on our announcement.

Please note that the wallet balance shown on your Funding Wallet includes the total balance of crypto from your P2P buy/sell orders, Binance Pay, and Binance Card, etc.

After the migration:

  • You can no longer see your P2P Wallet on [Wallet Overview];
  • You will see a pop-up message regarding your P2P Wallet to Funding Wallet migration;
  • The balance shown on your Funding Wallet includes the total balance of crypto from your P2P buy/sell orders, Binance Pay, and Binance Card, etc.

Please note that as we are migrating users’ wallets gradually, some users might still be able to access their P2P Wallets. New users will only have access to Funding Wallet, not P2P Wallet.

Frequently Asked Questions

1. Where can I find the crypto purchased from P2P trading?

The crypto you purchased from P2P trading will be transferred to your Funding Wallet. To trade with those cryptos, you need to manually transfer them to the relevant wallets, such as the [Fiat and Spot Wallet], [Margin Wallet], or [Futures Wallet].

2. I want to sell my crypto via P2P trading. Which Wallet should I use?

To sell your crypto via P2P trading, you need to transfer your funds to Funding Wallet first. The sell orders will be deducted from your Funding Wallet directly.

3. Will my Wallet balance change after the migration?

No, your funds will be safe. The Binance Tech Team will help you transfer all your P2P Wallet balance to your Funding Wallet during the migration, you don’t need to operate anything.

4. How to check my P2P Wallet transfer history?

You can check your P2P Wallet transfer history from [Transaction History]. Please note that as your P2P Wallet has been migrated, you can only check the transfer history before the migration.

Written by Jane