As a major feature of the Binance ecosystem of services, you get direct access to Binance’s products and services as soon as you buy crypto via P2P. Binance P2P’s advantages extend beyond trading. The platform has already processed more than $7 billion worth of transactions, which indicates a high level of liquidity.ĥ. As the official P2P channel of the world’s biggest exchange by trading volume, Binance P2P was able to secure large volumes for both buy and sell transactions. 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.Ĥ. 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. With more than 150 payment methods available on Binance P2P, you can choose your favourite way to send or receive money for your trades.ģ. You get what you pay for, with zero fees.Ģ. While many P2P platforms get a cut out of your transactions, you don’t have to worry about that when it comes to Binance P2P. One of the biggest advantages of Binance P2P is its absence of fees. What Are the Advantages of Binance P2P?Īmong the many P2P solutions offered across the crypto market, the Binance local P2P Bitcoin exchange offers several competitive features and benefits:ġ. Launched in January 2021, this new feature allows users to rate their trading experience and review their trade partners when they complete a P2P order. This allows users to directly buy and sell cryptocurrencies through their selected ads and then give or receive cash for those transactions offline in person.ģ. Advertisers can also share their deals on social media and elsewhere on the Internet starting December 2020.Ģ. Initially offered on the Binance App in May 2020, this feature was extended to the website in September 2020. P2P users can post trade advertisements to buy and sell crypto assets using fiat currencies with zero ad fees. P2P users on Binance grew sevenfold compared to 2019, and they had plenty of options, with more than 2,000 P2P merchants serving their needs worldwide.Īside from growing its selection of local currencies, payment channels, and global merchants, Binance P2P recently launched new features, such as:ġ. Last year, Binance P2P processed $7 billion worth of transactions made through 3.8 million orders, with daily volumes reaching as high as $54 million. Three years later, the platform supports buying and selling for six cryptocurrencies – BTC, ETH, BNB, BUSD, DAI, and USDT – using 55 local currencies via 150+ payment channels around the world. What is Binance P2P?īinance P2P is the platform we built in late 2018 to enable P2P Bitcoin exchange transactions using local currencies. To make P2P trading safer, various online platforms developed a safer way to facilitate P2P deals. Even with the emergence of cryptocurrency exchanges, some traders remain using P2P despite the risks involved with in-person deals, such as threats of violence, theft, or scams. This forced the people interested in buying or selling crypto to meet with other people in person or through online communities to barter their digital assets in exchange for other assets, like cash, vouchers, goods, or other cryptos. In the early days of crypto, there weren’t many options to buy and sell crypto. This second scenario is what we call P2P trading. Alternatively, you can transact with your fellow crypto holders and swap your assets without needing to track charts and orders. The most common practice is to use centralized exchanges like and buy or sell crypto at certain price points against another cryptocurrency or a local currency supported on the platform. There are many ways to trade cryptocurrencies. To understand how Binance P2P works, we’ll first go into what P2P transactions are, where you can execute them, and finally, what you can get from trading on Binance P2P. In this article, we’ve also listed ten advantages that have made Binance P2P the crypto world’s leading peer-to-peer marketplace. If you’re looking to buy your first crypto, you can consider using a peer-to-peer marketplace like Binance P2P.īinance P2P is the platform we built in late 2018 to enable P2P Bitcoin and crypto exchange transactions using local currencies This is a primer on how to make cryptocurrency transactions via peer-to-peer (P2P) platforms like Binance P2P.
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