Transfer/ Format
Whatever the fate of your old PS4 system, you’ll want to ensure that any personal and private information is removed before it goes to a new home or is stashed away at the back of a cupboard. Though the transfer process will remove this information from your old system and put it onto the new system, it’s always worth just giving it another format to ensure everything is well and truly deleted before you sell it on or put it away for good.
To format your PS4 and return it to factory settings, all you need to do is jump into the system settings and head down to the Initialization option at the very bottom. Select this and then select the Restore Default Settings option. This will then remove everything from the hard drive of your PS4 and return it to the state it was in when you first plugged it in.
Even if you intend to keep it for a little while, formatting it now can prevent you from accidentally forgetting about it in the future before you sell it to someone else. It may seem like an insignificant and overly cautious step, but it’s better than running the risk, right?