Binance P2P Guide for Beginners

Binance P2P is a platform on Binance giving users the ability to trade crypto on a peer-to-peer model using their preferred method of payment and local currency.

Different regions in the world have their desired mode of making payments. And Binance P2P comes in to satisfy the payment needs and features of users from different demographics.

If you’re just a beginner on Binance and would love to buy some BTC in your local currency, Binance P2P will definitely do the magic.

Here are some reasons why Binance P2P will be the best platform for you to get hold of one of the biggest and decentralized digital currencies(Bitcoin):

1. Live trade chat- The live trade chat feature breaks the barrier between the buyer and seller while making a transaction. Additionally, you can resolve any transaction issues with the vendor.
2. Zero fees- While it sounds too good to be true, trading Binance P2P incurs zero fees. Hence, it's the ultimate platform for one to get started with their crypto trading journey.
3. Multiple payment methods- Payment methods offered by Crypto exchanges were always limited especially for people from third-world countries. The Binance P2P platform currently has over 300 payment methods and over 70 local currencies. This factor ensures that Binance P2P caters to a worldwide audience.
4. Customer support- Never get worried in case you encounter a problem, when trading with your counterpart; as Binance P2P has active customer support. The Binance support team will be quick to solve your issue and provide guidance in your trading endeavors in Binance P2P.
5. Escrow service- Binance P2P acts as a middleman to ensure a safe and fair transaction. Hence, it is literally impossible for users to encounter scams. This is one of the core functionalities of Binance P2P in terms of security and protection of digital assets.

How to buy and sell Crypto on Binance P2P

Buying Crypto on Binance P2P

1. In order to navigate to P2P, click on “P2P trading” under “Buy Crypto”.

2. Once on the P2P trading page, make sure the “buy” button is active and proceed to select the specific crypto that you’d desire to buy.

3. Under fiat, proceed to select your local currency and choose the payment method.

4. On the results that appear, it is recommended that you find a p2p trader who’s verified and has a high completion rate.

5. Upon identifying your ideal P2P trader, proceed to initiate the transaction and complete payment. Your crypto assets will then be deposited into your account.

Selling Crypto on Binance P2P

1. In order to sell your digital assets on Binance P2P, click on the “sell” button. Proceed to then choose the specific crypto asset that you intend to sell.

2. Select the specific fiat currency and choose the mode of payment.

3. Choose your desired P2P trader based on the completion rate and orders completed.

NB: If your Crypto assets are in the spot wallet, you’ll need to transfer them to your funding wallet in order to sell.

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