Binance P2P is the world’s most popular exchange platform that is quick and easy to use when it comes to withdrawing your funds which is supported by over 70 local currencies in the world with 0 transaction fees. Binance allows you to buy and sell cryptocurrency and also it can prevent scammers, on their platform. going through this guide you will discover everything you need to understand concerning Binance P2P trading.
Most often, when you get to hear of the word bitcoin trading, the first thing that comes into your mind is a centralized exchanges system that has a complicated chart that you can’t understand. so many people in the world today are not aware of the easiest way of trading bitcoin without undergoing a complex process.
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in the world today this method is believed to be used by a large number of people mostly in countries that don’t allow, citizens, to trade cryptocurrencies. Below is an overall outlook of the P2P system which is known as peer-to-peer trading this will help you to have a better knowledge of how you can be able to make a good profit from this popular trading system.
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Meaning Is P2P Trading?
The word Peer-to-Peer trading which is well known as P2P trading has to do with the act of people selling or buying different cryptocurrencies from an individual directly with any case of being scammed on the exchange. P2P trading is a kind of trading that requires the vendors and buyers to sign up on their platform and perform other verification processes.
Either the buyer or the seller can post ads if they want to buy or sell when they have a specific price and also want to target a particular region. The process of P2P is still the same as selling products on eBay, Etsy, or Craigslist, in such a way whereby the vendor and the person buying can be able to engage directly with the buyer to sell at his or her the desired price at the end of the day.
furthermore, one good thing about this unique process is that you are buying and selling different types of cryptocurrency such as bitcoin, ethereum, binance, usdt and many more available on the platform. when you look at the fact you need someone close to your location to buy and sell cryptocurrency, it is wise to choose this as an option.
The main aim of P2P on most exchanges in the world is to find a way to help individuals to connect with legit people any day any time, using the correct payment methods available for you in your location.
Binance P2P: How to Buy and Sell Cryptocurrency on Binance
Binance is one of the best choices when it comes to the recommendation of P2P trading platforms because it enables you to access more withdrawal options while trading, payment methods, and also transaction execution times for your daily transactions.
On Binance it is very important for you as a user to complete the Know Your Customer (KYC) task so that you can be able to access P2P platforms, margin, or futures trading platforms without being restricted. You must note that without the Know Your Customer (KYC) task being completed, you will still be given the ability to deposit funds in your account without restrictions.
How To Buy And Sell Cryptocurrencies through P2P Trading?
The first thing you need to do is to make sure you have a Binance account created and undergo the identity verification process and make sure you passed the process successfully before you think of running any transaction on Binance P2P. For you to get started kindly follow this guide carefully to enable you to verify your Binance account.
Note: Every P2P seller on Binance must pass through a compulsory screening process which includes identity verification and business verification. Binance is the best when it comes to running a well-protected transaction with secured layers through validating every user on Binance P2P.
The Steps are easy to follow and also when you want to make your first transaction, it only requires a few clicks, that is when you must have done your verification tasks. Below follow the steps on how to do it:
How to Buy Cryptocurrency on Binance P2P (Web Users)
- First, you need to log into your Binance account using your details then head on to the Binance P2P page. For those who don’t have an account with Binance, Kindly click on “Register” to sign up.
- Then when you visit the signup page, all you need to do is to enter your correct email address and create a password. Then click “Register”.
- Now you need to make sure you pass the identity verification task, then turn on SMS verification, and you will be asked to add your preferred payment method instantly.
- Choose the “Buy Crypto,” tab and then “P2P Trading’’ located in the menu bar.
- Click the ‘Buy’ button which is located at the right close to the cryptocurrency that you wish to purchase. when you are done trying to filter your price and “Payment” in the drop-down, quickly choose an ad and click the “Buy cryptocurrency” button.
- Now you need to inert the total amount of what you want to buy, and click “Buy cryptocurrency”.
- Chcek for the payment method and total price properly before proceeding to the next step. Then you will be given some time to make payment to the seller account. After transferring the money to the seller, simply click on “Transferred, next,” button and then select “Confirm.”
- the moment your seller release the coin, that particular transaction is conclusded. you might want to move your funds to your spot wallet, all you need to do is to click on “Transfer to Spot Wallet.”
When ever you want to check your account to see if the crypto you just bought has reflect all you need to do is to click on “Check my account” button above.
Kindly note that If you are yet to receive the total amount of crypto asset you bought within 10 – 15 minutes of clicking the “Transferred, next,” button just calm down and click “Appeal,” button then you will be transferred to a customer care support agent who will assist you escalate and complete your transaction further.