A Comprehensive Guide to Becoming a Binance P2P Cash Merchant
Main Takeaways
Featuring competitive liquidity, stringent security measures, and flexible payment methods, Binance P2P is an easy-to-use peer-to-peer (P2P) platform.
The Cash Zone is Binance P2P’s newest trading zone, allowing cash merchants to post cash trading ads and offer cash as a payment method.
Want to take your crypto trading experience on Binance P2P further and start making transactions in real life? Learn about what being a cash merchant entails and what you need to do to become one.
Binance P2P is a peer-to-peer (P2P) crypto trading platform that offers industry-leading security and flexible payment methods; our liquidity is also among the market’s best. Furthermore, we're constantly looking for ways to maximize user safety and provide the most seamless P2P crypto trading experience possible.
As such, we've launched the Cash Zone to make Binance P2P an even more convenient gateway to access digital assets and for newbies to start their crypto journey. When you become a cash merchant on our platform, you can post cash trading ads and meet users face-to-face at your physical store to conduct crypto trades that use fiat currency to complete transactions.
What Are the Benefits of Becoming a P2P Cash Merchant?
Exclusive ad posting options
All cash merchants on our platform can provide cash as a payment option and post ads in an exclusive trading zone. On top of that, cash merchants will soon have the option to create and flexibly distribute customized physical Binance Gift Cards labeled with their nicknames and preferred prices.
Advanced managing tools
Cash merchants can access specific pro-trading tools to make the remote management of their stores and orders a more seamless experience.
Increased brand exposure
When browsing the Cash Zone, users can enable location services to easily find cash merchant stores near them. Moreover, once a P2P user clicks on your profile page, they can easily find your store listings via the designated Cash Ads tab, leading to increased traffic to your brick-and-mortar business.
Activities and rewards for cash merchants
On top of being able to display exclusive store banners to promote your cash trade service, cash merchants can enjoy special rewards for their performance. For instance, the five merchants with the highest cash ad transactions every month will receive voucher rewards.
Trade crypto easily and safely on Binance P2P — become a cash merchant today!
What Do You Need to Become a Cash Merchant?
As a basic requirement, you must be a verified Binance P2P merchant with experience handling P2P and cash trades. You also need a physical location (like a store or an office) with regular opening hours. Lastly, depending on the region you’re based in, you may have to provide a security deposit of up to 30,000 BUSD.
How to Become a Binance P2P Cash Merchant
Interested in becoming a P2P cash merchant? Get started in just a few easy steps.
If you’re not yet a verified Binance P2P merchant, log into your Binance account, click [Apply now], and fill in the merchant application form.
Once you’re a verified merchant, go to the merchant portal and click [Profile] on the user dashboard. Then select the [Cash Merchant] tab and click [Apply Now].
Enter the information required on the form and make sure you have enough BUSD in your Funding Wallet.
If you pass the first screening, a Binance representative will contact you via Telegram or email within 14 days to conduct a store review. Please note that you may be asked to provide further information or documents if necessary.
Upon a successful final review, you can log into your merchant portal to post your first cash ad.
For more detailed information on the Binance P2P Cash Merchant application process, check out our FAQ article How to Become a Binance P2P Cash Merchant.
How to Complete Your Cash Merchant Profile
Go to the merchant portal, click on [Profile] on your [Dashboard], and select the [Cash trade] tab.
Enter your basic information, such as your Telegram username, phone number, supported fiat currencies, and business type. Click [Next].
Add your cash store name and address.
Upload your rental documents or property ownership certificate as proof, and enter your opening hours. Click [Submit].
Please note that once you submit your store information, you can’t change the address or suggest that your counterparty meet you in a different location.
How to Post a Cash Ad Through the Merchant Portal
Log into the merchant portal, click the [Post Ads] button on the top navigation bar, then select [Cash Trade].
Select your registered store and set the price type, trading amount, order limit, and payment time limit for your ad. You can also add remarks and set conditions for your counterparty.
Once you’ve entered all the required settings, click [Publish] and read the disclaimer in the pop-up window, then click [I Understand]. You’ll then be prompted to double-check the information on your ad. If everything is correct, click [Confirm publishing].
How to Post a Cash Ad Using the Binance App
Log into the Binance app and go to [P2P Trading].
Tap on […], then select [Advertisement Mode].
Now tap [P2P] on the top of the screen and select [Cash].
Select [Ads] on the bottom menu to go to your ad listings and click on [+] to create a new ad.
Enter your store name, price type, trading amount, order limit, and payment time limit for your ad. You can also add a note and set conditions for your counterparty.
Your cash ad is ready to be posted as soon as you’ve completed all the required settings. Once you complete two-factor authentication (2FA), your ad will be published.
Start Your Binance P2P Cash Merchant Journey
Ready to become a cash merchant today? You can apply in just a few simple steps! Register for a Binance account and complete the identity verification process. Once your account is verified, and you meet the cash merchant application requirements, you can start offering cash as a payment method.
From now until March 31, 2023, merchants who post cash ads can enjoy zero maker fees for every successful trade.
Further Reading
(Blog) Intro to Peer-to-Peer Trading: What is P2P Trading and How Does a Local Bitcoin Exchange Work?
(FAQ) How to Post Cash Advertisements on Binance P2P Merchant Portal
(FAQ) How to Post Cash Trade Advertisements on Binance P2P (App)
Disclaimer: Your use of the Binance P2P services and all information and other content (including that of third parties) included in or accessible from the Binance P2P services is at your sole risk. Our only responsibility is to handle crypto transactions. All payments are final upon completion unless otherwise required by law. Binance P2P platform has neither the rights nor the obligations to resolve any disputes arising from a completed payment. Neither Binance P2P platform nor merchants shall be responsible for your loss in a completed payment.