Binance P2P: What to Check Before You Trade
Buying or selling crypto through P2P can be straightforward, but choosing an offer shouldn’t be based on price alone.
Before starting a P2P transaction, take a moment to review the merchant and the offer details.
1. Check the merchant
Look at:
Verified Merchant statusMerchant ratingNumber of completed tradesCompletion rate
These details can give you more context about the counterparty’s trading history.
2. Review the offer
Before placing an order, check:
Payment methodOrder limitsAdvertiser’s termsPrice and supported asset
The cheapest offer isn’t necessarily the one that best fits your transaction.
3. Understand Escrow
Binance P2P uses an escrow service to help hold the crypto during the transaction.
If a dispute occurs, P2P also provides an appeal process to help resolve the issue.
4. If you’re buying
Follow the payment instructions shown in the order.
Only confirm that you’ve made the payment after you have actually completed it.
5. If you’re selling
Make sure the payment has actually arrived in your account before releasing the crypto.
Don’t rely solely on screenshots, messages, or payment notifications from the other party.
The simple takeaway
P2P isn’t just about finding the lowest price.
Check the merchant.
Review the offer.
Follow the transaction steps carefully.
For more, explore Binance Academy and always do your own research.
Educational content only, not financial advice. Availability, eligibility, and regulations vary by region. DYOR and use official Binance sources.
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