This year, we have seen a surge in peer-to-peer(P2P) fiat-to-crypto trading volume globally, and India is posing the strongest growth in the emerging markets. Since the addition of Indian Rupee (INR) this April, Binance P2P has processed total trades of over 5 million USD, with an average 120% monthly increase.
Our Indian P2P merchants are the heroes supporting the incremental growth. Currently there are 55 verified Binance P2P merchants, playing a crucial role in providing liquidity for the P2P platform and fiat-to-crypto trading services for new users. P2P trading also brings them decent earnings in the global pandemic period.
“The Real Essence of Crypto is P2P Trading”
The day when we announced INR trading was live on the Binance P2P platform, Rajat Toshniwal immediately signed up for the P2P Global Merchants Program and started trading henceforth. He learned about crypto in early 2018, and soon entered the P2P trading field. “The first crypto trade I made was on a P2P platform. P2P is a great way to engage with peers globally and facilitate crypto adoption. In fact, the real essence of crypto is P2P trading.”
For Rajat, trading on Binance P2P is a natural choice.
“Most of the crypto enthusiasts in India trade on Binance and it gives all of us great comfort and ease to trade crypto in fiat money on a trusted platform, ” says Rajat.
In the last three months, Rajat saw constant growth in trading volumes, and appreciates Binance’s prompt customer support and actions on any updates.
According to Rajat, the P2P trading margins in India are from 0.5% to 1%. As a P2P merchant, he completes an average of 100+ trades per day on all P2P platforms, and the key to success is being responsive to customers and providing the best rates and service. “If you can create a good reputation for yourself and provide the best service, you will find a good number of trades coming your way,” said Rajat.
“The Weekly Profit is ₹270,000 on Average”
CRXzone is a professional over-the-counter (OTC) trading team since 2017, and trades on multiple P2P platforms. When they learned about Binance P2P a couple months ago, they applied to be a P2P merchant. On Binance P2P, CRXzone receives more customer queries than other platforms.
CRXzone focuses more on large-amount trades with a minimum amount of 1 lakh INR. They operate from 10:00 am to 11:00 pm daily and process around 15-20 trades each day. P2P trading generates an average weekly earning of ₹270,000, which corresponds to a 1%-2% profit margin.
Pawan Kumar, the CEO at CRXzone shared some helpful tips for all P2P traders. First, new traders must take time to educate themselves about the risks involved in cryptocurrency transactions with unknown people. Second, be careful with offers which appear too good to be true because most of the time they may be scams. Third, traders should understand that cryptocurrency investment is highly volatile and to stick within their risk capacity.
Be a P2P Merchant and Earn up to $10,000 Bonuses
On Binance P2P, the INR merchants can earn more than trading profits now. To provide better liquidity and services, we launched the INR P2P Pioneer Program to look for P2P merchants who can offer trades and refer more P2P merchants to us.
A P2P Pioneer can get multiple exclusive bonuses through making referrals and trading. For each successful referral, a P2P Pioneer can get a 25 BUSD referral bonus; after making 10 merchant referrals, the merchant will receive VIP level grades. If a P2P Pioneer can successfully refer 300 merchants within a quarter, we will reward it with an extra 2,500 BUSD bonus.
Additionally, P2P Pioneers can get speaking opportunities in Binance P2P AMAs, webinars and events, along with Binance swags and 24/7 customer support.
To become a P2P Pioneer, you need to get P2P merchant qualifications first and submit a certain amount of security deposit. If you have P2P trading experience and have great connections in crypto, join our INR P2P Pioneer Program and contact the Binance P2P team through firstname.lastname@example.org for further details.