Binance P2P: Buy/Sell Your Crypto Locally
Peer-to-peer exchange (or P2P exchange) is a marketplace where people can trade crypto directly with each other on their own terms, in virtually any country.
HOW P2P WORKS
Place an Order
Once you place a P2P order, the crypto asset will be escrowed by Binance P2P.
Pay the Seller
Send money to the seller via the suggested payment methods. Complete the fiat transaction and click "Transferred, notify seller" on Binance P2P.
Get your Crypto
Once the seller confirms receipt of money, the escrowed crypto will be released to you.
Advantages of P2P Exchange
Low cost transaction fees
As P2P exchange is a simple platform, the overhead costs are negligible for buyers and sellers.
On Binance P2P, takers are charged zero trading fees, while makers are charged a small amount of transaction fees upon every completed order. We pledge to apply the lowest P2P transaction fees in all markets.
Flexible payment methods
Peer-to-peer exchanges allow sellers freedom to define how they want to be paid.
On Binance P2P, you can buy and sell crypto with over 150 payment methods, including bank transfer, cash, PayPal, M-Pesa and multiple e-wallets.
Trade at your preferred prices
Peer-to-peer exchanges bring users freedom to trade crypto at the preferred prices.
On Binance P2P, you can not just buy or sell crypto from the existing offers, but also create your trade advertisements to set your own prices.
Protection for your privacy
Unlike credit card or bank transfers, peer-to-peer exchanges do not collect information about buyers and sellers.
So you can buy Bitcoin with cash on Binance P2P and don't need to use any bank account or online wallet to make a crypto-fiat transaction.
How to buy cryptocurrency on Binance P2P
After you complete identity verification and add your payment methods, you are ready to buy crypto on the Binance P2P platform. First, choose from all the available offers in the marketplace. Second, place an order to buy your crypto, and pay the seller based on the preferred payment methods. Lastly, get your crypto from the seller after you complete the fiat transaction and confirm your payment on Binance P2P.
What are their downsides of P2P exchanges?
P2P exchanges have drawbacks as well - longer trade times, less intuitive user experience and lower liquidity are some of their comparative disadvantages. Lower trading volumes are caused by comparatively smaller user bases and longer deal cycles than on regular cryptocurrency exchanges
How to sell cryptocurrency on Binance P2P
You can sell cryptocurrencies on the Binance P2P platform, instant and secure! First, browse for the crypto you wish to sell and shop for the best offers from other users. To place an order, you must first place the cryptocurrencies you wish to sell into the P2P wallet portion of your account.
How do I protect myself against fraud? Binance P2P Escrow FTW!
As one of the several safeguards on the platform, Binance P2P has a holding mechanism for crypto funds that are involved in any pending transaction. This mechanism prevents incidents of theft or scam by adding another layer of trust, thus preventing malicious actors from stealing your money or crypto without completing their part of the trade.Learn more.