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  • Binance P2P is a popular marketplace for peer-to-peer cryptocurrency trading. It offers industry-leading liquidity, top-notch security, 700+ payment methods, and 100+ fiat currencies.

  • If you forget to mark your transaction as paid and the payment deadline has already passed, the order will be automatically cancelled. This is where the Binance chat and support team come to the rescue.

Binance P2P users most often make two mistakes: forgetting to mark the transaction as paid and transferring the wrong amount.

What is peer-to-peer (P2P) trading?

Peer-to-peer (P2P) trading is a flexible way to buy and sell cryptocurrencies that many users have already appreciated. Buyers can choose payment methods and sellers, and sellers can set prices. Binance P2P offers high liquidity, security, and over 700 payment methods. It's no surprise that it is one of the most popular P2P platforms on the market.

Even though P2P platforms like Binance P2P provide convenient trading of digital assets, from time to time transactions do not go as smoothly as users would like. Even experienced traders are not protected from this. We are all human, and we all make mistakes sometimes – including when making transactions. Below is what you can do in this case.

How to Trade on Binance P2P

1. Log in to the Binance app and click P2P trading on the home page.

2. Select the Buy tab to purchase cryptocurrency or Sell to list your assets for sale. Then select the cryptocurrency you want to buy or sell.

3. When you find a suitable offer, click Buy or Sell. Please read and accept the counterparty's terms and conditions carefully before proceeding.

Important note. Every ad on Binance P2P specifies a payment window. This is the maximum time an order must be paid before it is cancelled.

4. In the For Fiat section, enter the amount you want to spend, or click For Crypto to enter the transaction amount. Click Buy or Sell to confirm the order. The countdown for payment will begin, and then a payment notification will appear.

On the same page, you will see the Binance P2P chat window. If you have problems, try contacting the counterparty.

5. Once you transfer or receive funds, mark the order as paid by clicking the button in the lower right corner of the screen. Before you do this, be sure to check the payment amount. Likewise, before you transfer cryptocurrency, make sure you have received payment from the buyer into the bank account or wallet.

How to solve common problems with P2P transactions

If for any reason the buyer does not mark their order as paid by the due date, the order will be automatically canceled and the funds held in escrow will be returned to the seller.

On the other hand, if you accidentally send the wrong amount of fiat currency to the seller and mark the transaction as completed, the seller may not notice that anything is wrong. Below is how to solve such problems.

1. Go to the Binance P2P home page in the app and click Orders on the bottom menu bar.

2. Then go to the Completed tab and find your most recent transaction.

3. Open an order and contact the counterparty via chat.

Here are some examples of how to start a conversation with a counterparty:

"Hello! I paid for the order, but forgot to mark it as paid, and it was cancelled. Please help me get my money back. Here are my details."

"Hello! I mistakenly sent more money than I should have. Could you give me back the extra? Here are my details."

Don't forget to include the following information in your message:

  • Account number

  • Refund amount

  • Proof of payment

4. Contact us via Binance Support Chat. The support agent will remind your counterparty to respond to you via the order chat.

How to Use Binance Live Chat

1. Log in to the Binance app, click on the P2P Trading home page, then click [...] in the top right corner of the screen or Profile in the bottom menu bar.

2. Select P2P Help Center.

3. Click Start Chat and scroll down the page. Select Find answer to question.

You will receive an automatic response first. Select one of the proposed options. If you can't find a suitable option in the list, click Unresolved and describe your problem in the chat.

Please note that once the order is cancelled, the cryptocurrency is returned from escrow to the seller, so the decision to issue a refund is ultimately up to the seller.

Start trading on Binance P2P today

Ready to start trading cryptocurrency on Binance P2P? Register on Binance and complete identity verification. Once your account is verified, you can 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 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.