What is Binance P2P, Why and How to use it.

Maybe you have been ok the crypto market for a while now, or you are new and you have been hearing the word P2P but still wondering what it means. Peer-to-Peer commonly known as P2P, simply means a couple of people dealing directly with each other. So P2P trading entails a couple of people buying and selling cryptocurrency to each other. When people think about bitcoin trading, they generally quickly think of centralized exchange and complicated charts. Many people are unaware that there are simpler ways to trade bitcoin that do not include complex procedures. Furthermore, a large number of people use these methods on a daily basis to generate profits all around the world.

The procedure is quite similar to selling things on eBay, Etsy, or Craigslist, in a manner that the vendor and buyer engage directly with the buyer to land at a price. However, the unique thing in this situation is that you are buying and selling cryptocurrencies, such as Ethereum or Bitcoin. Consider the situation when you wish to buy Bitcoin from a person who lives nearby. The P2P exchange can help you connect with the right individual, at the right moment, and at the right location, so you can receive the best trading price and pay with a means that is convenient for both of you. 

Now when we talk of Binance P2P, we are talking about the platform that helps us to carryout this transactions with the opposite party in a more secure and less expensive manner. Binance connect you with people around the world and from your own community so you can trade directly with them to buy and sell cryptocurrency like Bitcoin, Ethereum, BNB amd a host of others. Binance is an excellent choice when it comes to P2P trading as it gives access to a number of withdrawal options, payment methods, and transaction execution times. On Binance, users must complete the Know Your Customer (KYC) process to access P2P, margin or future trading platform. Without the KYC, you may still deposit tokens to your account.

Why you should choose Binance P2P.

• If you’re dealing with large amounts of money, you need a secure and trustworthy platform and counterparty to conduct your transaction. Binance P2P is very secure, and trustworthy as it is used by millions of people around the world and it connects you to legitimate counterparties to trade with. One of their main priorities is to see that your transaction goes on smoothly.
• With over 300+ payment methods, 70+ fiat currencies and verified block trader merchants, Binance present you with an easy way to trade cryptocurrency. There are diverse payment method which can include your own local payment method within your country like MTN and Orange Mobile Money in the case of Cameroon and Nigeria, you can also use Bank transfer. You can directly trade in your local currency like in XAF, XOF, NGN in which you can easily understand the figures conversation and what is going on.
• Binance P2P is very fast and easy to execute. Some traders will sell their holdings in small sizes or leave limit orders to combat slippage. However, this method leaves you open to market risk the longer you wait for the order book to fill out, leaving you with an undesired execution price. In other words, the market may turn against you while you’re trying to sell off your crypto. With a BinanceP2P, you can execute large orders in minutes at your preferred price, negating the need to watch charts all day.
• Live chart is also a great feature within the platform in which you can directly discuss with the opposite party and you need not fear because it is very secure on the Binance platform and no scammers can prevail there.

How to use Binance P2P

So with all what we have discuss above, it sure that you will want to try out binance P2P. Well for starters, you will have to create a Binance account. So you can create an account here for free Create here

Once you have create an account and verify it, or you already have a verified account, you can go on to the P2P platform. You can either use the Binance website, or you can get their Mobile application which is fast, secure and easy to use. Once you have log into the Mobile app with your account, follow these steps.

1. Step one is to locate the P2P platform from your home screen. If it’s not there, then you will click on more and then under trading, you will find it there.
2. Next is to select your local currency on the top right to make sure that your transaction is well understandable.
3. Now select the cryptocurrency that you want to buy, Bitcoin, Ethereum, BNB or others. Under the coin are list of merchants or sellers with different prices and amount in you local currency. Scroll through and select the best that apply to you.
4. Now you will have to input the amount you want in cryptocurrency and the amount to pay will display down beside, in your local currency. Once your satisfied with the amount you want, Click “Buy with Zero Fee”.
5. Now it takes you to the page where the total amount will be display together with seller’s payment method and info and a live chart option. Down you can cancel the order or go to the payment page.
6. From here, you will be directed to do the payment and aonce it’s down, you will come back and alert them that the payment is down so the coin can be released to you. And you have to understand that a certain amount of time will be given to you in which you have to make the payment within that time or the order will be canceled.
7. Once payment is done, you will wait for the seller to release the coin in which most do it immediately and you can check it on your wallet. Then you can use it. If it’s on your funding wallet, you cam send it to spot wallet by clicking on transfer amd then, from funding to spot.

Be very alert of scam and how you do the transaction. Seller does not have to ask you for extra money or sent you to any other link or website. All you transaction need to take place within the Binance platform and at the range of the amount inputted.

Make sure you are on the right site by creating your account HERE

Visit the Binance P2P site HERE and make sure you are on the right track to start your journey. Binance provide you today with the best options for buying and selling cryptocurrency. BEWARE OF SCAMMERS.

Join our Binance community on telegram here https://t.me/binancenigeria https://t.me/Binance_afrique https://t.me/binance_announcements and also follow us on Twitter, facebook and Instagram at Binance Africa and Binance Afrique.

We wish you the best as you start you P2P journey on BINANCE, the world’s leading exchange.