Main

  • Binance P2P is a simple yet secure platform with competitive liquidity, strict security measures and a variety of payment methods.

  • Learn the basics of P2P cryptocurrency trading for buyers and sellers.

We have prepared some tips to help improve the success of your seller or buyer listings on Binance P2P.

Binance P2P is a decentralized marketplace where users can trade cryptocurrencies with each other without intermediaries. Traders can choose suitable offers, which gives greater freedom in trading. However, for those new to P2P, the platform may be unfamiliar and difficult.

Feeling confused during your first visit to Binance P2P? Don't worry - our advice will increase your chances of a successful transaction.

Basics

Identity verification

One of the ways to ensure security on Binance P2P is through identity verification. Both buyers and sellers need to complete this before using Binance P2P. Here's a simple guide on how to complete identity verification.

Platform Rules

Follow the platform rules. Here are the most important ones:

  • all stated prices are final and the seller has no right to demand additional fees;

  • users must pay in one payment and in an amount corresponding to the order amount.

For a complete list, please refer to our P2P Platform Transaction Rules and Binance P2P Merchant Guide.

Trading conditions

When choosing an offer, carefully read the requirements of the seller or buyer who posted the ad.

On Binance P2P, anyone can specify their preferred terms for a trade. By opening an order, the counterparty agrees to these terms. If the terms of the deal do not suit you, it is better to choose another offer.

The terms of the transaction may indicate a specific bank for payment, a request to leave a comment when making a payment, the need for additional verification, etc.

Payment window

Before placing an order, pay attention to the time specified in the Payment Window field. If you want to buy cryptocurrency, then this is the allotted time to pay. If you are selling cryptocurrency, this is the time within which the buyer will have to make the payment.

In addition, for sellers, an order can only be canceled after the time specified in the counterparty’s announcement has expired.

For P2P buyers

Limits

When choosing an offer, always pay attention to the limit set by the seller in the offer. Although there is a minimum limit depending on the location of trade, the seller himself determines the minimum and maximum amounts in his advertisements.

Studying user statistics

User statistics are available on Binance P2P. It allows you to see the number of transactions made by the user and the percentage of successfully completed transactions. Before responding to an ad, pay attention to the number of transactions completed, as this indicates the level of responsibility of the seller.

In addition, on the seller's page you can check how quickly they process orders.

For more convenient and secure trading, Binance P2P marks verified merchants with a yellow icon. Such merchants have undergone additional verification and proven that they have experience in P2P cryptocurrency trading.

Payment

Find advertisements based on the payment method you need

Many people believe that the payment method is one of the most significant factors when choosing an offer. To quickly find listings that support your payment method, use the Binance P2P filter.

We have added a bank transfer option as it is one of the most popular payment methods.

Use the payment method specified in the ad

To avoid delays in interbank transactions, buyers are advised to make payments through the seller's bank. The preferred payment method is specified in the terms and conditions of the ad.

Do not use third party accounts for payment

According to the rules of the Binance P2P platform, the use of third-party accounts for payment is prohibited. You must be the owner of the account/account from which the payment is sent to the seller.

Don't ask the seller to send cryptocurrency before payment is completed

The Binance P2P platform uses an escrow system to ensure the safety of your assets until payment is made. If you request a cryptocurrency transfer before the payment has been successfully processed, it may be considered fraud and your account may be blocked.

Cancel

When an order is open, the seller's assets are frozen. This means that he will not be able to trade them with others. If you decide to abandon the trade, be sure to cancel the order.

For P2P sellers

Specify your conditions

If there is little information in the ad, buyers may refuse the deal. To prevent temporary freezing of assets, when creating a sale announcement, fill out the “Conditions” section in detail.

Don't forget to indicate your preferred payment methods (for example, bank cards), whether additional verification is required (and instructions for its implementation), and what region the buyers live in (if you want to know about inter-regional commissions).

All this information will constitute the trading terms and will be displayed in the sale advertisement.

Chat directly on Binance P2P

Many orders are canceled because buyers are unable to contact sellers for clarification before paying.

To communicate with the buyer, use the built-in chat in Binance P2P. It will be available immediately after placing the order. When opening an order, greet the user, ensure they are online, and answer any questions necessary to complete the transaction.

Try Binance P2P now

In addition to the asset price, do not forget about user statistics, limits, payment methods and other trading information.

Ready to apply these tips and improve the performance of shopping ads on our P2P platform? Register on Binance and complete identity verification. Once your account is verified, you can immediately start trading on Binance P2P.

Additional Information

  • (Blog) Introduction to P2P trading: what is peer-to-peer trading and how does a local Bitcoin exchange work?

  • (Blog) How to become a P2P merchant on Binance

  • (Blog) What is P2P trading and how to use it

  • (Blog) How to raise an ad in search on Binance P2P

  • (Support) How to Buy Cryptocurrency on P2P Platform on Binance App

  • (Support) How to Sell Cryptocurrency on P2P Platform on Binance App

Denial of responsibility. Your use of the Binance P2P Services and all information and other content (including third parties) included on or available on the Binance P2P Platform is at your own risk. Our responsibility is limited to processing cryptocurrency transactions. All payments are final upon completion unless otherwise required by law. Binance P2P Platform has neither the right nor the obligation to resolve any disputes arising in connection with a completed payment. Neither the Binance P2P platform nor the merchants are responsible for any losses incurred as a result of the payment made.