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Binance P2P Learn & Earn: Over $5,000 in Prizes!

2021-02-10

Binance P2P is excited to present the Learn & Earn challenge. We are giving away $5,000 in prizes! All Binance users will be able to learn about P2P and share $5000. Besides, we’ll randomly select 5 lucky users and give $50 in BNB each! 

The Learn & Earn promotion is open to P2P traders in the following markets: ARS, VES, COP, MXN, CLP, PAB, PEN, BOB, BRL, NGN, GHS, KES, ZAR, INR, IDR, PHP, THB, VND, and UAH. 

Activity Period: 10th February, 12:00 PM until 24th February, 12:00 PM UTC

To qualify for our Learn & Earn promotion, you need to:

  1. Follow the P2P Learn & Earn Series on Social Media Channels

  2. Repost any P2P Learn & Earn content post with the hashtag #SafewithBinanceP2P 

  3. Complete the quiz correctly

  4. Complete a trading volume of at least 50 USD on Binance P2P

Follow Binance India on our social media accounts:

Facebook: https://www.facebook.com/BinanceIndia 

Twitter: https://twitter.com/binance 

Instagram: https://www.instagram.com/Binance/ 

Telegram: https://t.me/BinanceIndian 

Terms and conditions:

  • A total amount of $5,000 in BNB will be distributed. In addition to this, we will also randomly select 5 extra lucky winners who will receive $50 in BNB each.

  • The promotion is available only for the following markets: ARS, VES, COP, MXN, CLP, PAB, PEN, BOB, BRL, NGN, GHS, KES, ZAR, INR, IDR, PHP, THB, VND and UAH

  • This promotion only applies to transactions through Binance P2P in the web or app version.

  • The BNB rewards will be allocated to the Binance spot wallet within 15 business days after the campaign finishes. Users can see their rewards by selecting the Account Center > Wallet > Distribution History.

  • Binance reserves the ability to disqualify any participants showing signs of fraudulent behavior immediately. 

  • Binance reserves the right to cancel or amend the Promotion or Promotion Rules at our sole discretion.

P2P Learn & Earn Recap

If you want to participate in our giveaway and learn more about P2P trading, don't miss these useful security tips for trading on Binance P2P. Here, you will find all you need to know to pass our quiz. 

General security tips

One way to increase your security when registering on Binance is to enable 2FA and use email addresses and passwords that are different from what you use on other payment sites.

Binance P2P cares about your security, that's why we have an escrow service. Once the buyer places an order, the seller’s cryptocurrency will automatically be transferred from the seller’s wallet to Binance. The cryptocurrencies will be held in the deposit guarantee until the transaction is successfully completed by both parties.

To facilitate the communication between the buyer and the seller during the trade, Binance P2P has an internal chat that you can use when you are trading with your counterparty. 

If you don't reach an agreement with your counterparty through the chat, you can always open an appeal and attach your proof in the appeal window. Our customer service will contact you directly in the appeal window or via email (@binance.com). 

If you're a newbie in P2P trading we encourage you to trade with our verified merchants, you can easily distinguish them by the yellow badge and a high number of completed transactions.

Take the Quiz!

Trade safely when selling bitcoins on Binance P2P 

How to complete a trade successfully as a seller on Binance P2P? When you selling cryptocurrency on the Binance P2P platform, there are a couple of things you should beware of to complete a trade successfully. First, you need to check your bank account or wallet and confirm that you received money from the buyer. After this, you need to come back to the P2P platform and release the cryptocurrency as soon as possible by tapping the [Release] and [Confirm] buttons. 

The buyer pushes you to release the crypto as soon as possible: In case the buyer made your transaction “marked as paid” and pushed you to release the crypto, remember that you should not release the crypto until you check that the money is in your bank account. 

The buyer needs extra information: All the information that the buyer needs to transfer the payment to your wallet or bank account is already displayed on the platform. You should not give any personal information or any extra information to strangers. 

No response from the buyer: If the buyer made your transaction “marked as paid” but you didn’t get the money in your wallet or bank account and you contacted him but he didn’t respond. You need to raise an appeal and tell Customer Service that your counterparty never responds, and you didn't receive the payment with a screenshot as proof.

The buyer asks you for a loan: he promises to pay you back with high interest. Please be aware, he is a scammer, he will not pay you back. You should report him to the customer service.

Third-party payments: The bank information from the counterpart does not correspond to the name or information provided on Binance. If the buyer pays you with a third-party account you should open an appeal immediately and refund the money to the same account. 

The buyer paid less than the amount stipulated in the order: In this case, you should not release until the payment is complete. You can negotiate with the buyer through the chat, if he doesn't send me the remaining amount, you should open an appeal. 

The buyer paid more than the amount stipulated in the order: you need to refund the extra money, provide proof of refund in the order chat, and then complete the order. 

Confirmation email: Some banks or wallets send email notifications to let you know that you receive a payment into your account. You should not rely solely on the email notification. You should check your bank account or wallet before releasing your crypto.

Real proof of payment: Sometimes, the buyer sends you screenshots as proof of payment. Although it can be real, you should not release your crypto until you get the money in your account. 

Take the Quiz!

Trade safely when buying bitcoins on Binance P2P

How to complete a trade successfully as a buyer on Binance P2P? First, you should check the payment methods listed by the seller, select one, go to your bank account/wallet and transfer the money directly to the seller’s bank account/wallet. After completing the transaction, you need to go back to your P2P order and click on [Transferred, next].

The seller asks you to cancel the order after you already paid: You should never cancel the trade after you completed the payment because the cryptocurrency will be released from the escrow service and returned to the seller’s wallet. Instead, you need to mark as paid, open an appeal, and attach proof of payment.

The seller asks you to trade outside Binance: You should not trade with any individual outside the platform, because the crypto could not be escrowed this way. You cannot guarantee that you will receive your crypto from the seller. You should contact customer service and report him as a scammer.

The seller asked you to pay an additional commission: There are no extra fees on Binance P2P. You should not pay any extra commission because all the prices are final. You should report him to the CS team.

You paid extra money to the seller: inform the counterparty of the incident. At the same time, try to press the Appeal button to delay the transaction. During your conversation with the counter-party, negotiate for a refund of the extra money. If the counterparty does not refund and the order is completed, immediately inform CS for support.

Take the Quiz!