How To Buy And Sell Using P2P Trading

Published by Abdulmujeeb A. Owolabi on

Before you may make your first transaction on Binance P2P, you must first register an account on Binance and pass the identification verification phase.

On Binance, P2P sellers must go through a screening process that includes identity and business verification. By certifying all Binance P2P users, Binance adds an extra layer of security to your transactions.

After the verification procedure, you can make your first transaction with just a few clicks. Here’s how to go about it:

Buying Cryptocurrency On Binance P2P

For Web Users

Step 1

Go to the Binance P2P website after logging in to your Binance account. If you don’t already have a Binance account, click “Register” and follow the on-screen instructions.

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Step 2

Fill in your email address and a password on the signup screen. Click the “Register” button.

Step 3

Pass the identity verification exam, enable SMS verification, and add your preferred payment method to your account.

Step 4

Select “Buy Crypto” from the menu bar, then “P2P Trading.”

Step 5

Right next to the cryptocurrency you wish to buy, click the ‘Buy’ button. Choose an ad and press the “Buy [cryptocurrency]” button after filtering the price and “Payment” in the drop-down.

Step 6

Click “Acquire [cryptocurrency]” after entering a fiat currency amount or the entire amount of cryptocurrency you want to buy.

Step 7

Check the payment method and the total cost. You must complete the transaction within the exchange’s specified deadline. After you’ve made your payment, go to “Transferred, next,” and then “Confirm.”

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Step 8

The transaction is complete after the seller releases the crypto asset. Click “Transfer to Spot Wallet” to transfer the digital assets to your spot wallet.

By clicking “Check my account” above the button, you can view the crypto asset you just bought.

If you haven’t received your crypto asset within 15 minutes of clicking “Transferred, next,” click “Appeal,” and a customer service representative will assist you with your transaction.

Selling Cryptocurrency On Binance P2P

For Web Users

Step 1

Choose “Buy Crypto” and then “P2P Trading” from the top menu.

Step 2

Select the currency you want to buy by clicking “Sell” (USDT is shown as an example). Select an ad, then click “Sell” after filtering the price and “Payment” in the drop-down.

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Step 3

Click “Sell” after entering the amount (in your fiat currency) or quantity (in crypto) you want to buy.

Step 4

“Payment to be paid by buyer” will now appear next to the transaction.

Step 5

The transaction status will change to “To be released” once the buyer has paid. Please double-check that the buyer sent you money using the payment app/method you chose.

To send the crypto to the buyer’s account, press “Confirm release” and “Confirm” after you’ve validated the buyer’s payment.

Step 6

The coins will be delivered to the buyer’s wallet. By choosing [Check my account], you may check your Fiat balance.

If you have any issues with the transaction, you can contact the buyer via the chat window in the upper right corner of the page, or you can click “Appeal” and Binance’s customer service personnel can assist you.

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