Binance P2P is emerging as a great venue for buyers and sellers of cryptocurrencies using their local currencies. Find out the many advantages you have when you use Binance P2P.
Binance P2P is emerging as a great venue for buyers and sellers of cryptocurrencies using their local currencies. Since its launch in October 2019 on the Binance app, followed by its availability on the Binance website in February 2020, we have steadily built up the Binance P2P service into a viable platform for users who want to exchange their local currencies into cryptocurrencies and vice versa.
Binance P2P provides a robust platform for verified buyers and sellers to broadcast their offers, as well as a crypto escrow service that ensures the safety and timely delivery of crypto assets in every trade. In the past eight months since its launch, Binance P2P has processed over 950 million USD in trades, attracting merchants and users across the world.
Here are some of the benefits that you can expect from Binance P2P, which we believe can be the best peer-to-peer crypto platform for you.
1. Binance P2P has zero fees. Yes, as in Z-E-R-O.
At Binance, we’ve always made it a point to provide a great crypto trading experience with top-notch liquidity and low fees. With Binance P2P, we’re taking it a step further by not taking any fees from peer-to-peer fiat-crypto transactions or offers posted. With us, you set the price and get the full value you want to get from your P2P ad. Consider it as a value-added service that we grant to you as yet another perk for being part of the Binance ecosystem.
2. Binance P2P has some of the best prices in peer-to-peer trading right now
Binance’s reputation as a trading venue for great prices on our spot and futures markets is also extended to our P2P platform. For instance, according to our recent internal data for tracking P2P prices around the world, Binance P2P now offers some of the most competitive prices for USDT in major markets such as China, Russia, and Vietnam. You can explore our P2P markets further for deals like these.
3. Binance P2P makes remittance much easier
One of the many game-changing use cases for Binance P2P is remittance. With crypto transactions emerging as an increasingly viable option for many people, you can use Binance P2P to exchange currencies on the go at competitive rates. Suppose you are from Vietnam and have migrated to Singapore to work. If you are paid in Singapore Dollar and you need to send Vietnamese Dong back home, you can sell your Singapore dollars for crypto on Binance P2P, and then convert your crypto into Vietnamese dong within one hour.*
4. It’s easy to run your own crypto trading operation with Binance P2P
With the recent launch of the new advertisement posting feature on Binance P2P, you now have more ways to buy and sell your crypto assets beyond the usual trading platform. If you want to set your fiat-to-crypto price for the tokens you hold, you can set up an offer with just a few taps on the Binance app.
5. Binance P2P’s escrow service ensures that transactions push through without a hitch.
Binance P2P features an escrow service that is supported by the world’s largest exchange via trade volume. This means that we act as a caretaker of the tokens you are buying or selling, while payments are being settled. Binance P2P’s escrow service safeguards the integrity of your transactions, giving you peace of mind.
6. Binance P2P is part of Binance’s full ecosystem of crypto services
One underrated aspect of Binance P2P that other P2P platforms can’t easily replicate is that it is part of a wider Binance ecosystem of crypto products and services. Unlike other P2P platforms, where you may have to transfer to several wallets and platforms in order to use your crypto for other means, Binance P2P allows the crypto you buy to be sent directly to your Binance account. From there, your crypto can be used for multiple purposes on Binance, from trading across our spot, margin, futures, and options platforms, to crypto financial services such as staking, savings, and more.
7. Binance P2P’s growth is community-driven
Our careful approach to fully launching P2P support across multiple countries has resulted in anticipation for many local crypto communities that want their country to be the next launch area for Binance P2P. We take these advocacies seriously. In fact, we have launched P2P services in countries like India, in part because of insistent public demand. India is now one of the biggest P2P markets for Binance, thanks to your continued support.
8. Binance P2P supports multiple currencies, both fiat and crypto
Binance P2P is one of the fastest-growing P2P platforms right now, launching support for at least one new currency each week, in addition to new features and enhancements released regularly, such as the recent P2P ad feature. Right now, we support 27 fiat currencies and six cryptocurrencies. (For the complete list of supported currencies, click here.)
And when we say “support,” we mean that for every currency we support, we strive to attain significant volume. It’s easy to add the list of the world’s currencies on the drop-down option and call it a day. With Binance P2P, we coordinate with on-the-ground P2P buyers and sellers in each country we support. The Peer-to-Peer (P2P) Merchant Program explains how people and companies can join our P2P crypto trading marketplace.
To use P2P and Binance’s many other crypto trading services, download the Binance app today!
* This is not financial advice. Cryptocurrency trading is subject to high market risk. Please do your due diligence when it comes to comparing rates on Binance P2P with other options.