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  • If there is a pink lightning icon next to the merchant name or payment method, then these payment methods are automated on Binance P2P.

  • If a merchant or a specific payment method has this icon, then your transactions with it will be much faster, safer and more convenient for all parties to the transaction.

Make faster, safer and more convenient P2P transactions!

Peer-to-peer (P2P) trading allows you to freely buy and sell cryptocurrencies in transactions with other users under specified conditions. Sellers can specify a payment method, and buyers can choose a seller with an appropriate payment method.

On the Binance P2P platform, users can trade cryptocurrencies using over 700 different payment methods and 100 fiat currencies. As a result, our platform offers one of the most convenient gateways to access cryptocurrencies.

We strive to make P2P trading safer and more convenient, so we are constantly improving our platform. This time, Binance P2P has launched automated payments - now users can make P2P transactions conveniently, quickly and securely. You just need to select a merchant or payment method with a pink lightning icon.

What does the lightning icon mean?

A pink lightning bolt icon next to the merchant's name or payment method means the trade is eligible for automated payment on the Binance P2P platform. As part of such payments, our platforms automatically send cryptocurrencies directly from the escrow service.

This means that buyers do not have to mark payment for the order themselves, and sellers do not have to verify that the payment is correct before sending assets. Moreover, the automated payment method is only available to selected whitelisted merchants.

Key benefits of automated payment methods

Safety

The system will not credit assets to the buyer until the required amount is paid. This eliminates the risk of the buyer making double payments, sending funds through third parties, or making an erroneous transaction.

For example, if the order payment amount is $400 and the buyer only paid $399, the assets will not be sent. Instead, the amount paid will be automatically refunded to the buyer's original bank account if they used the automated payment method using NGN.

The automation sets up the correct payment amount as it involves scanning a QR code or clicking the “Pay” button with the name of the payment app. The exact payment amount is filled in automatically, thereby eliminating the possibility of error.

In addition, this payment method can only be used by merchants selected by the Binance P2P team, so buyers can be confident in the reliability of such counterparties.

High speed and convenience

The entire payment process is automated and integrated with payment service providers for fast payment processing. The system is available around the clock and automatically sends assets according to orders after receipt of the required amount. Now the buyer does not have to independently mark his order as paid and then wait for the seller to send the cryptocurrency. Due to this, the service saves time and effort on both sides of the transaction.

How to use automated payments

1. Войдите в аккаунт Binance и перейдите на страницу P2P-торговли.
2. Выберите фиатную валюту.
3. Выберите объявление, размещенное мерчантом со значком розовой молнии рядом с его именем, или способ оплаты со значком розовой молнии, как показано на рисунке. И начинайте торговать!

Tips for using automated payment methods

Check your verified name on Binance

The Binance P2P platform uses the best security protocols and offers customer support to ensure the safety of users and their funds. Due to security measures, the user's payment account name must match their verified name on Binance. Before placing a P2P order, we recommend double-checking that your payment account name matches your verified name on Binance. This will reduce the likelihood of problems occurring during the transaction.

Learn more in our article How to Verify Your Verified Name on Binance P2P.

Funds are sent automatically

When using automated payment methods, you do not have to manually mark the payment of orders or click on the Translated, Next button. Instead, simply visit your chosen banking or payment platform and transfer funds to the merchant's account. After successful completion of the payment, the system will instantly credit the purchased cryptocurrency to your wallet for replenishment.

Notify the merchant about missing payment information

If payment information (such as a QR code, bank account or payment application) is not displayed on the order page, please notify the merchant immediately. The sooner he is notified, the sooner he can resolve the problem and continue with the transaction.

Avoid double payments on the same order

To avoid double payments, always check the transfer amount before confirming the order. If payment fails, please try again after confirming the previous payment status.

Do not submit a chargeback request to your bank.

If the payment was successfully completed but the order assets were not automatically sent, do not file a chargeback. Contact the merchant via chat on the order page or contact support for help. We will look into the problem and resolve it as soon as possible.

Start trading on Binance P2P

Ready to trade cryptocurrencies on Binance P2P? Create an account and go through identity verification. Once your account is verified, you can start trading.

To learn more about the Binance P2P platform, read the following articles:

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

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

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

  • (Support) P2P FAQ

  • (Blog) How does Binance P2P escrow service work?


Отказ от ответственности. Вы используете услуги Binance P2P, а также всю информацию и другой контент (в том числе третьих лиц), включенный в платформу Binance P2P или доступный на ней, на свой риск. Наша ответственность ограничивается обработкой криптовалютных транзакций. Все платежи являются окончательными после завершения, если иное не требуется по закону. Платформа Binance P2P не имеет ни прав, ни обязательств по разрешению каких-либо споров, возникающих в связи с завершенным платежом. Ни платформа Binance P2P, ни мерчанты не несут ответственности за любые убытки, понесенные в результате совершенного платежа.