Last updated: 14 June 2024
To enhance trading and account safety, Binance P2P has introduced the "T+1", "T+2", and "T+3" withdrawal limits to TWD, EUR, CNY, UAH, KZT, EGP, BHD, BYN, THB, and UZS trading on the P2P platform.
1. “T+1” limit on CNY
All cryptocurrencies will be converted to an equivalent value in BTC. The “T+1” crypto withdrawal limit for CNY will apply to all P2P users after a deposit has been made. Your trading activities (Spot, Futures, Margin trading, etc.) will not be affected during this period.
For example, if you initially have 2,000 USDT in your Spot or Funding Wallet (suppose this equals 0.2 BTC) and buy 1 BTC through P2P trading, the actual amount of assets under the “T+1” crypto withdrawal limit control is equivalent to 1 BTC.
Within a 24-hour period, you can withdraw the 2,000 USDT (1 BTC will remain in their account) or the 0.2 BTC (0.8 BTC and 2,000 USDT will remain in their account, which is equivalent to 1 BTC in the example). Either way, the amount of assets remaining in your account must be equivalent to 1 BTC.
Note: The "T+1" limit does not apply to Binance P2P Merchants.
2. “T+1” limit on UAH, KZT, UZS, BYN
2.1 KZT, UAH, UZS, BYN fiat markets: Applies to all users who have completed a trade order as a maker-buyer on the P2P platform.
2.2 For the safety of your assets, some of your P2P deposit assets will be frozen for 24 hours (from the time of purchase, the frozen amount is {0} BTC equivalent). After 24 hours, the frozen assets will be automatically released and you can withdraw them. Your trading activities (Spot, Futures, Margin trading, etc.) will not be affected during this period. The ban cannot be lifted within this period, so please be patient.
2.3 The "T+1" limit does not apply to Binance P2P merchants.
3. “T+1” limit on EUR and TWD
3.1 Your trading activities (Spot, Futures, Margin trading, etc.) will not be affected during this period. However, all withdrawal-related functions for the frozen assets/amount will be restricted.
3.2 EUR and TWD fiat markets: Applies to all users who have completed a trade order as a buyer on the P2P platform. The "T+1" limit does not restrict cash payment methods using TWD.
3.3 The "T+1" limit does not apply to Binance P2P merchants.
4. “T+1” limit on Egypt, Bangladesh and Bahrain verified users
4.1 Your trading activities (Spot, Futures, Margin trading, etc.) will not be affected during this period. However, all withdrawal-related functions for the frozen assets/amount will be restricted.
4.2 Applies to all verified EG and BH users who have completed a buy order on the P2P platform.
4.3 Applies to all verified BD users who have completed a maker buy order on the P2P platform.
4.4 The "T+1" limit does not apply to Binance P2P merchants.
Note: once you perform an inter-wallet transfer from the Funding Wallet to other Binance wallets, you will not be allowed to transfer the funds back to your Funding Wallet within the stipulated T+1 restriction time.
5. What is the “T+2” withdrawal limit?
When the risk control system detects abnormal activities on a user’s account, their withdrawal-related functions will be disabled for 48 hours. The ban cannot be lifted within this period, so please be patient.
6. “T+3” limit on THB
6.1 THB fiat market: Applies to all users located outside of Thailand, who have completed a trade order as a buyer on the P2P platform.
6.2 For the safety of your assets, some of your P2P deposit assets will be frozen for 72 hours (from the time of purchase, the frozen amount is {0} BTC equivalent). After 72 hours, the frozen assets will be automatically released and you can withdraw them. Your trading activities (Spot, Futures, Margin trading, etc.) will not be affected during this period. The ban cannot be lifted within this period, so please be patient.
7. Benefits of the “T+1”, “T+2”, and “T+3” withdrawal limits
The “T+1”, “T+2”, and “T+3” withdrawal limits provide a 24- to 72-hour buffer against the potential loss of user assets due to illegal funding. It also discourages money laundering activities on the platform to the greatest extent possible, reduces the risk of bank accounts being frozen, and ensures a secure trading environment for users.
The frozen crypto will be released automatically after 24 to 72 hours. Please wait patiently.
Note:
- Binance announced an update regarding “ CNY and TWD T+1 Restrictions” on April 24, 2023.
- Binance removed “HKD T+1 Restrictions"on September 06, 2022.
- Binance announced an update regarding "HKD and TWD T+1 Restrictions" on August 15, 2022.
- Starting from April 14, 2022, the “T+1 Restrictions” applies to users purchasing BNB/USDT with CNY/TWD via P2P trading, and withdrawing BNB/USDT via BNB Smart Chain (BEP-20).
- Starting from June 30, 2022, the “T+1 Restrictions” applies to all verified users who have made a maker-buyer trade in UAH, KZT, and UZS.
To learn more about Binance P2P trading, please visit the Introduction to Binance P2P FAQs page.
