3 Stories of People Earning Money Through Binance P2P
We want to share some success stories about how Binance P2P users take advantage of the platform to increase their revenue and achieve their goals.
From Hobby to Lifestyle
Aruna* was a stock trader when she started to dabble with Bitcoin trading in India in 2018. She bought her first few bitcoins from a friend and managed to grow her funds significantly, even during bear-market times. “I got more excited about crypto trading than stock trading, and I feel confident about my skills, so I thought about going into crypto trading full-time,” she shared.
But there’s one catch: she can’t cash out her earnings at the rates that she liked. The main options for converting crypto into cash in Aruna’s country have fees of 2-3%. She said, “So, I opted for a mix of online and offline peer-to-peer options. This turned out to be tedious work. I had to spend some time doing tasks I didn’t particularly enjoy, from promoting my offers and rates to checking if the people I deal with are legitimate.”
Aruna finally found an option she liked when Binance P2P launched last year. Now, she doesn’t have to take her funds out of Binance anymore, as she mainly trades on the exchange. Binance P2P took care of a lot of the work she had to do before, from marketing her offers through the ad post option to verifying identities, which Binance already does for her.
“Now, I have more time to do what I do best: trading,” Aruna added.
From Remittance Center Employee to Innovator
Sunil* started to learn about Bitcoin while he was working for a money-changing and remittance service. He said, “While I was there, I had a couple of regulars who get paid for remote work and show up with remittance slips for their earnings. When I asked about what they were doing, they shared that they earn in bitcoin, and then use an app for exchanging their earnings for cash.”
Interested in the prospect of working from home, Sunil started learning about how Bitcoin works. He became friends with his two regulars, and they shared their frustrations about how much they end up losing with the high rates they are charged with for turning their bitcoin into cash. “I also noticed that more people in my circle of friends have started using Bitcoin, whether for receiving money from their loved ones abroad or for earning a living here,” he added.
Already self-taught in crypto trading, Sunil looked into how he can serve his crypto-using patrons better. He started playing around with peer-to-peer trading at the beginning of this year, including Binance P2P, which just launched where he is.
“I ended up using Binance P2P more often because I found it easy to switch between posting my offers on Binance P2P with a few taps, buying crypto from my patrons at the remittance center, using some of my crypto funds to trade and earn on Binance, and then turning my earnings and the other crypto I received into cash again, at rates I can work with,” Sunil shared.
An Economic Lifeline
A few years ago, Jose* received a fraction of a bitcoin for some work he did as a freelancer. "I didn’t mind it then, I thought I could find a way to sell it immediately. But when I looked into it, Bitcoin’s price doubled from in just a week. That turned my attention to Bitcoin and some altcoins," he said.
He then did some P2P trading on the side, while focusing on his freelance projects. He shared, “It’s something that you do part-time. You can buy cryptocurrencies in the morning, go on with your day, and decide on whether you sell them in the afternoon or keep it while waiting for prices to improve.”
This year, his string of freelance work contracts came to an end, at the worst possible time when COVID-19 was hitting the world. Things weren’t so bright economically in his area as well. Fortunately for him, Binance P2P was there for him as an option when he’s searching for new ways to earn money.
“I was able to turn to crypto as a full-time P2P merchant, and then a lot of people in my city wanted to get into it, seeing how Bitcoin prices went this year despite the crash in March. Binance exchange and P2P platforms have allowed me to get a stable source of income despite everything that happened this year,” Jose said.
*All names and places mentioned in this article are fictional to protect users’ identities.