How Binance P2P Grew to Become The Number One Peer-to-Peer Marketplace for Local Cryptocurrencies

2021-10-22

Catch up with all of Binance P2P’s product updates over the past two years. We’ve worked to bring you more assets and payment methods, comprehensive merchant tools and powerful security measures. In this article, learn why Binance P2P is the world’s number one peer-to-peer crypto platform. 

Main Takeaway

  • Celebrate our two-year anniversary and look back at some of Binance P2P’s biggest product and feature updates since our launch in October 2019. 

  • Learn about the features that have shaped Binance P2P’s “choose how you trade” crypto experience. 

  • As part of our commitment to user protection, Binance P2P has prioritized security and built a safe platform for users to buy and sell crypto with trustworthy merchants.

Two years ago, we launched Binance P2P as an easy-to-use platform for users to buy and sell crypto with zero fees. Since then, we’ve built an industry-leading platform that provides crypto P2P services to users around the world, including underbanked communities with reduced access to traditional financial tools and services.

Every feature and product update we’ve rolled out on Binance P2P starts with you—our users—from the tiniest details to the core features. Celebrate our two-year anniversary and look back at some of Binance P2P’s biggest product updates since our launch in October 2019. 

Six Reasons Why Binance P2P Lets You Trade Crypto Your Way

Learn about the features that have shaped Binance P2P’s “choose how you trade” crypto experience, from ad sharing functions to new payment methods.

1. 10 supported cryptocurrencies

Our platform now supports fast and easy transactions for 10 popular cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETC), Dogecoin (DOGE) and BNB. Take a look at the coins we currently support. The availability may differ depending on your region.

Available on P2P

Buy link

BTC

Buy BTC

ETH

BNB

ADA

DOGE

BUSD

USDT

DAI

BIDR

SLP

2. 70+ fiat currencies 300+ payment methods

The core of Binance P2P is making sure our users always have the option to buy and sell crypto on their terms. We've added support for more than 300 payment methods in the past two years, from Paypal to SWIFT bank transfers, and more than 70 local currencies such as USD, EUR, and NGN. Visit the P2P FAQ center

3. Trading advertisements

In addition to regular P2P trading, we’ve built an ad posting feature on the Binance App and Web version for users who want to set their own preferred payment method, currency and price. You can read our step-by-step guide if you want to post your own trading advertisements. 

4. Share ads with QR

Last year, we introduced a QR ad-sharing function, enabling users to easily share P2P ads on social media or other communities via a unique QR code. You can read more about the QR code here

5. P2P Zones

Binance P2P offers three different zones, providing users with even more flexibility and convenience with their transactions.

  • P2P. The default P2P experience; browse through the available ad postings until you find a suitable deal.

  • Express. Enter the amount you want to trade and set your preferred payment method. We’ll do the searching and match you with the best offer available. 

  • Block Trade. Moving a large amount? Filter your homepage to only Block Trade advertisements. All Binance P2P block trade merchants are strictly vetted and experts in handling bulk transactions.

6. Comment feature

Our newly-added comment feature allows users to review their trading counterparties after each transaction. Once the order is complete, simply rate your trading experience as [Positive] or [Negative], then leave an anonymous comment. You can also view comments and feedback from other users before you commit to a trading counterparty.

Our Industry-leading Security Measures

As part of our commitment to user protection, Binance P2P has prioritized security and built a safe platform for users to buy and sell crypto with trustworthy merchants.

1. Risk Management and User Protection

Protecting users is a top priority at Binance. With more than 1.5M weekly active users, it’s our responsibility to provide the necessary security measures and risk management system on our P2P platform. Over the past two years, some of our initiatives include upgrading order-matching logic to ensure users trade with trusted traders and verified merchants and optimizing risk management algorithms to monitor and combat suspicious activity actively on the platform. If you’re interested in learning more, you can read our complete risk roadmap.

2. Escrow service

Our escrow service safeguards every transaction and ensures that crypto funds are held in a temporary deposit until both parties successfully confirm the transaction. And if there is no agreement, users can always file an appeal for customer support to look over. You can read our escrow service FAQ blog article to learn more.

Why P2P Merchants Choose Binance P2P

Since the launch of our Global Merchant Program, we’ve continued to build and provide new tools and features—including exclusive 24/7 one-on-one support, verified badges and VIP discounts—for our pool of hardworking and talented verified merchants, 

All Binance P2P verified merchants have access to more trading tools and an in-depth ad management system via the Merchant Portal. Merchants can manage and view their ads, file appeals with customer support and view their customer feedback to name a few. Visit our Merchant Portal FAQ guide for more information. If you’re interested in becoming a P2P merchant, log in to your Binance account and click apply now on the P2P merchant page.

Ready To Buy Crypto? Get Started with Binance P2P

Create a Binance.com account or download the Binance crypto trading app, and then verify your account. Once your account is successfully verified, you can start your crypto journey with zero fees on Binance P2P.

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