Making your first trade on Binance P2P

Binance P2P is the safest and fastest way to buy Cryptocurrency like Bitcoin, BNB, Ethereum, USDT. It is a peer to peer transaction mode where you interact directly with the seller on Binance and no fee is required. In other to access Binance P2P, you will need a Binance account. If you do not have one, you can create it HERE for free. Once you have a verified Binance account, you can go ahead and trade on Binance P2P.

Here is how to carryout your first trade on Binance P2P. So for this lesson, we will be buying a stable coin “USDT”. Our location is Cameroon. So there are some few things to consider when making a trade on P2P.

• Coin to buy
• Seller
• Price
• Limit
• Payment method

So with this in mind, you will need to set your currency to be on your local currency so as to help filter the market and present you with features which are familiar with your area. For example if we choose “XAF” which is the currency of Cameroon, it will help to filter sellers who are from your area and payment method which are familiar in your area so that you can better understand the trade and buy easily.

Once we choose our currency, we then go ahead to select the coin we want to buy and then we will see the available sellers who have the coin for sell;

1. We see the name of the seller and directly opposite, we see the number of trades and percentage.
2. Second is the price of the coin we wish to buy, like how much a single coin cost in your currency. This price may diver from seller to seller just like our normal physical market.
3. We see the crypto amount that seller has to sell. So the amount of coin he has on the market.
4. We see the limit which can be bought. So there is a minimum and maximum limit for different seller, meaning at a particular limit, you can’t buy below or above.
5. Lastly, we have the payment method. These payment method are the ones mostly used in your area, like your local payment method for example: MTN and Orange mobile money, bank transfer or Credit card. So different sellers may have different payment options.

Once you have selected the best seller with the best rate and payment method suitable for you, go ahead and put in the amount you wish to buy.

You can choose to put the amount by fiat, meaning you just input the amount in your currency that you wish to buy and the number of crypto will display below or you can use By crypto which means you put in your number of crypto and the amount in your currency display below. Once you are satisfied with the amount, go ahead and Buy with zero fee.

Once you create the order, you can still cancel it but if you cancel more than 3 times, your account will be suspended for the day. Meanwhile if you decide to continue, then you can view the order and the terms. Go ahead and make the payment by choosing the payment method or You can even chat with the seller but make sure to keep the conversation strictly to the transaction.

Once you want to make the payment, choose your payment method and the seller’s details will be displayed together with the amount to pay and some directions on how to go about it, so as to make the payment or you chat with the seller to direct you how to make the payment. Once you have completed the payment, click on “Transfered, Notify seller” and the crypto will be on releasing mode. You can also go ahead and write the seller on chat that you have made the payment.

You will just have to wait some few seconds and your crypto will be released. No need to panic especially if it’s taking longer, just stay calm and wait for the seller to release the crypto. Once it has been released you will be notified.

The coin has been sent to your funding wallet, so you can give the seller a positive remark and then head to your funding wallet to see your crypto.

And that’s all about buying from Binance P2P. Within the space of 2 minutes, you can buy cryptocurrency and sent directly to your wallet, where you can use it as you wished. Binance P2P is very secure and easy to use.

Head now and BUY cryptocurrency on Binance with ease. Visite http://www.binance.com for more cryptocurrency service and products. Buy, sell and trade cryptocurrency at best rate.