For most of the population around the world today, Bitcoin isn’t a new thing and it is increasingly gaining ground as time goes on. Over the past few years, Bitcoin has witness institutional adoption and celebrity recognition. We have gotten news about massive whales buying and owning millions and thousands of bitcoin and we wonder if we too 8j our own small community can match up to those standards. What is interested to know is the fact that. There is no bias in bitcoin and so anybody can own it and even a fraction of it. You must not win a full coin, but you can own a fraction which doesn’t cost alot. Now coming to the fact of owning this fraction of bitcoin becomes another problem. Where and how do you securely acquire bitcoin? Well today, we will give you an overview of The Binance P2P platform and after this, you will be able to make good decisions on how to buy your bitcoin in Cameroon.
There exist so many scam out there when it comes to bitcoin. So many people become scared to venture into such investment as they are afraid to loose their money. Well be rest assured that today, if you are from Cameroon, then your problems are solved.
What is Binance P2P
Binance P2P in the simplest way means trading between two direct counterparties. That is, the seller and the buyer, and this transaction is made possible by the Binance. So, within the Binance P2P platform, you search for a seller base on your preferences like payment method, coin, amount and reputation of the seller. You trade directly with the seller once you are satisfied with the terms and conditions. In order not to use technical words and blockchain technologies here that will confuse your brain, you are doing trading peer to peer and this trade is made secured by Binance who brings the buyer and the seller together and makes sure each keeps to their end of the bargain. You must have heard about P2P in a more advanced way, but basically, this is what it entails. So you don’t have to be scared of getting into what you don’t understand because this is what you need to know about Binance P2P.
How does the platform works?
Well since you now have basice knowledge of what Binance P2P is all about, here is how it functions. In basic terms, you first of all need to have a Binance account if you do not have one, then create one HERE which won’t take you up to 4 minutes to create and verify. Once you have a Binance account, you can get the Binance mobile application which is very easy to use, fast and secure to access the Binance P2P platform or you can visit their Website to get started.
So now that you have a verified Binance account and a means to access the P2P platform, her eis what you need to know. Within the Binance P2P platform, you look for the coin you want to buy, say “Bitcoun” there, you will see the available sellers who are and their information like names, price. Coin available, the minimum and maximum amount and also the payment methods they accept. In Cameroon, most of the sellers accept Mtn and orange mobile money which is very much easy to us for financial transactions and almost everybody with a mobile phone has a mobile money account as compared to bank accounts.
Choose the seller who has the best option you can go with. That is best price, amount available, and payment method which is convenient and at your disposal. Notice that you can also change the currency to reflect your local currency which is XAF (FCFA) in Cameroon. This is very important because it helps you interact with the prices very well and you won’t have to deal with the issue of converting currency or calculating much on a different currency. So once you choose the best seller for you, yoo can then input the amount of Bitcoin you want, (Crypto) or the amount of XAF (FCFA) which you wish to pay and equally, the amount to pay and the amount of bitcoin will be shown below as you input your figures.
So you can either put in by Fiat or By crypto and it will still lead you to thesame result. Once you are done putting your amount, you can click on Buy with zero fee. Your order will be created. Here you can see the details of the order like the amount, the payment methods to choose from and chat with the seller (keep your discussion strictly to the transaction and do not go out of the platform to fulfill other requirements).
Note that you can cancel the order if you change your mind or you are having problem completing the transaction. But if you cancel of to 3 transaction, your account will be suspended for the day.
You can go ahead and make the payment by choose the payment method which is suitable for you, like MTN mobile money. The sellers number and name will be display and you can launch your Mobile money and make the payment, then come back and alert the seller by clicking “Transferredx notify seller” your coin will be release within a short amount of time usually within some few seconds or minutes. Then you are good to go.
The coin you buy from P2P will be deposited into your funding wallet which you can choose to transfer to you spot wallet and continue carrying out you business. You can use this coin to trade on Binance, invest or hold. It is very secure and safe, which ever option you choose.
Why Buy Bitcoin on Binance P2P?
- You buy Bitcoin with zero fee on the Binance P2P platform. As compared to other way or platform for buying bitcoin in Cameroon, you pay zero fee to complete a transaction on the P2P platform.
- The Binance P2P platform is very flexible as you can select from different sellers, different payment methods, and you can choose the currency you wish to operate with. Also. Different sellers have minimum and maximum amount that can be bought amd with this, smaller buyers can place order fro a fraction of Bitcoin.
- The platform is secure and fast. Most transactions are completed within seconds after the payment is made. No motive is made to scam you or unnecessary conditions to fulfill. Once you select your seller, you trade directly and you have your bitcoin in your wallet in less than no time.
- Customer support is available 24/7 and they respond to your problems with immediate effect. You can report any issue of scam, difficulty or problem you face as a result of carrying out your transaction. And there also exist help notes and little help video all around the transaction page which you can consult in order to know your way around.
- The ease to access the platform in Cameroon is so awesome as you just need to create an account which can take about a minute or two, verify it then start trading immediately. You can use their mobile application or website.
- Apart from Bitcoin, there also exist other cryptocurrencies within Binance P2P like BNB, ETH, DAI, USDT which you can also be interested in.
- Above all, the best reason why you should use Binance P2P is because you can invest the bitcoin you just bought within the Binance ecosystem. You can trade on spot market, future or margin. You can also decide to invest in Binance products and services such as Binance earn which will let you make passive income on your idle crypto.
The Binance platform is very secure and easy to use. BINANCE is committed to improving their site to better serve the need of their customers. BEWARE of scam and phishing site or emails. BINANCE will never message you first asking for sensitive information or requesting you to enter specific websites.
You can follow Binance on Twitter to keep up with updates and also engage with the community at Binance Africa
Happy trading and enjoy your time at Binance. Access the P2P platform HERE anywhere in Cameroon.
ONE SPIRIT, ONE AFRICA, ONE EXCHANGE
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The Blockchain Project 
Understood.
New on Binance & will love to know more about it.
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