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How to buy cryptocurrency via P2P trading on Binance Lite?
Binance
2021-03-24 12:38
Binance Lite allows users to buy cryptocurrency via P2P trading with over 150 payment methods. Using P2P trading, you can purchase crypto from other Binance users or merchants.
To begin, open your Binance mobile app and log in.
For this guide, we’ll use the Binance Lite mode. You can switch to our Binance Lite or Pro version by clicking the account icon in the top left corner and then using the Binance Lite toggle button.
Before buying any crypto, make sure you have completed our SMS Authentication and identity verification processes. On the homepage, select the [Trade] tab at the bottom of the screen.
Select [Buy].
Select the crypto you would like to purchase. For example, if you wish to buy BTC, simply select [BTC] on the [Choose Crypto] page.
Enter the amount you would like to purchase.
Select the fiat currency you wish to pay in. In this example, we will use [VND].
Enter the amount you wish to spend, in this case, 500,000 VND. Tap the [Buy BTC] button to move to the next stage.
Select your chosen payment method from either P2P Trading - Bank Transfer or other Fiat Channels. In our example, we will use P2P Trading and select [Bank Transfer] before tapping [Confirm].
You have now generated a [Buy BTC] order. Confirm the order details and tap [Transfer the fund] to finalize.
You will now see the seller’s payment information. Copy the details provided and make the payment as instructed. Binance will lock the seller’s crypto so that you can transfer the funds worry-free.
Note: Please make you transfer the money from an account you own that matches your verified name. The platform will not automatically complete the payment.
Once you’ve completed the transfer, tap the [Transferred, next] button.
Binance will update the P2P transaction to [Releasing]. The seller will then release the crypto after confirming the payment as received.
Once the transaction is complete, you will find the purchased crypto in your wallet.
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Glossary of P2P Trading Terms