Binance P2P is a peer-to-peer (P2P) marketplace where buyers and sellers trade cryptocurrencies directly using fiat currencies. Unlike traditional exchanges, Binance acts as an escrow service to ensure secure transactions without intermediaries.
How Does Binance P2P Work?
- Direct Trading: Users negotiate prices and payment methods (bank transfer, e-wallets, cash, etc.).
- Escrow Protection: Binance locks the seller’s crypto assets until payment confirmation.
- 700+ Payment Options: Supports local bank transfers, PayPal, Venmo, and more.
Supported Crypto Assets on Binance P2P
| Asset | Description |
|-------|-------------|
| USDT | Tether (Stablecoin) |
| BTC | Bitcoin |
| BNB | Binance Coin |
| ETH | Ethereum |
| BUSD | Binance USD |
Supported Fiat Currencies
Binance P2P supports 150+ fiat currencies, including USD, EUR, INR, GBP, and more.
👉 Explore Binance P2P trading pairs
Benefits and Risks of Binance P2P
✅ Advantages
- Zero Fees for Takers: No charges for buying/selling (makers pay 0%–0.35%).
- Flexible Payments: Cash, bank transfers, e-wallets accepted.
- High Security: Escrow protects both parties.
⚠️ Risks
- Lower Liquidity: Slower trades compared to spot markets.
- KYC Required: Must complete identity verification.
How to Use Binance P2P
Depositing Funds (Buying Crypto)
- Complete KYC on Binance.
- Navigate to Trade > P2P.
- Choose a seller (check price, minimum order, payment method).
- Transfer fiat and confirm receipt of crypto.
Withdrawing Funds (Selling Crypto)
- Transfer crypto to your P2P Wallet.
- Create a sell order (set amount/fiat).
- Release crypto after buyer’s payment confirmation.
👉 Start trading on Binance P2P
How to Become a Binance P2P Merchant
Verified merchants enjoy:
- Exclusive promotions (e.g., fee discounts).
- Customizable ads and verified badges.
Steps:
- Go to P2P User Center > Become a Merchant.
- Submit an application (requires trading history/KYC).
FAQ
❓ What are Binance P2P fees?
- Makers: 0%–0.35% per trade.
- Takers: Free.
❓ Can I use Binance P2P without KYC?
No—KYC is mandatory.
❓ How do I withdraw from Binance P2P?
Transfer crypto from your Funding Wallet to an external wallet or Binance Spot.
❓ Are there alternatives to Binance P2P?
Yes, platforms like LocalBitcoins or Paxful offer similar services.
Final Thoughts
Binance P2P is ideal for secure, fee-efficient crypto-fiat trades, but always comply with local regulations.
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