Main conclusions
Binance P2P is one of the most popular and secure peer-to-peer (P2P) cryptocurrency trading platforms.
In the cash trading zone, you can buy and sell cryptocurrency from specialized cash merchants in registered stores nearby.
Binance P2P recently introduced a cash trading area. Join us!
Industry-leading security standards and superior liquidity make Binance P2P one of the most popular peer-to-peer (P2P) cryptocurrency trading platforms. We support over 100 local currencies and over 700 payment methods.
To make cryptocurrency trading even more convenient and accessible to a wider range of users, we have expanded the trading area and added the ability to trade for cash.
Cash trading area
Cash Trading Zone is a new zone on Binance P2P. Users can find the nearest physical store that accepts cash transactions and transact in person using fiat.
Only verified merchants can publish advertisements in the cash trading area. Binance P2P is always looking for experienced cash merchants to join our platform. If you already have a physical cryptocurrency exchange, this is easy to do.
Cash merchants enjoy exclusive advertising options, access to advanced ad management tools, increased brand awareness and special rewards.
Advantages of the cash trading zone
Users just need to find a merchant nearby who sells for cash on the classifieds page, come to the store and exchange cryptocurrency for cash or vice versa.
In some regions, buying and selling digital assets in a cash trading zone eliminates the wait time that can sometimes be associated with bank transfers.
Who is the cash trading area intended for?
If you're looking for a fast, convenient, and secure way to exchange cryptocurrency for cash locally or abroad, Binance P2P Cash Trading Zone has you covered. The cash trading zone will be especially appreciated by users in regions where banking and financial services are not very common or access to them is difficult.
Moreover, the cash trading zone allows merchants who already have physical stores to expand their customer base by listing on our P2P platform.
Please note that from February 2023, the cash trading zone is only available in the TRY, HKD, TWD, KES, GHS, CLP, PEN and UYU markets.
How to sell cryptocurrency in the trading zone for cash
Login to the Binance app, click P2P trading and select P2P.
You will be asked to select a trading area. Select Cash Trading.
Select the cryptocurrency you want to buy or sell. Then enter your location in the search bar to find stores near you, or the transaction amount. Select the listing that suits your needs and click Sell.
Enter the cryptocurrency amount and click Sell.
You will be redirected to a page with the merchant's address. Arrange a meeting with the merchant via chat, and then come to the store during the payment deadline. Don't forget to bring identification documents with you so that the merchant can verify that it is really you.
In the store, scan the merchant's QR code. If you don't make it to the store on time, you'll need a new QR code. Drag the screen to refresh the page. A new QR code will be generated.
Once you are sure the amount is correct, click Payment Received to authorize the cryptocurrency transfer.
If the merchant (account owner) is not in the store, ask employees to take a photo of the QR code and send it to the merchant so that he can scan it and mark the order as paid.
Employees can also scan your QR code to see the order information, as shown in Figure 9. However, they cannot mark the order as paid.
Check out our step-by-step guide on How to Sell Cryptocurrency on the Binance P2P Platform (in the app). If you are interested in buying cryptocurrencies in the cash trading area, check out our detailed guide on How to Buy Cryptocurrencies Using a P2P Exchange on the Binance App.
When to appeal
Although Binance P2P offers a simple and convenient way to buy and sell cryptocurrency, transactions do not always go smoothly. Below are some cases where a cash merchant can file an appeal with our support team.
Changing the meeting place
If the counterparty insists on meeting at a different address than the one listed on the order page, this can be reported to our support team via Binance chat.
The counterparty didn't show up
If the customer doesn't show up to the store within the payment deadline, but has marked the order as paid or claims to have transferred funds, you can file an appeal.
Insufficient or conflicting identification information
The merchant can file an appeal or contact support if the counterparty refuses to provide a passport, driver's license or other identification. A merchant can also file an appeal if the verified name in the counterparty's Binance account does not match the name on their ID.
For details on how a cash merchant can file an appeal, please see the Binance P2P Platform Appeals Policy.
Getting Started on Binance P2P
Now that you have all the information you need about the Binance P2P cash trading zone, why not try applying your new knowledge to your next trade? With Binance P2P, peer-to-peer cryptocurrency trading becomes even easier, more convenient and more secure.
Additional Information
(Blog) How to become a P2P merchant on Binance
(Blog) Binance P2P Cash Trading Zone Guide
(Blog) Binance P2P: Travel and Save on Currency Conversion
(FAQ) How to buy cryptocurrency in the P2P trading area for cash on the Binance app
(FAQ) How to sell cryptocurrency in the P2P trading area for cash on the Binance app
Denial of responsibility. Your use of the Binance P2P services, and all information and other content (including third parties) included or available on Binance P2P, is at your own risk. Our responsibility is limited to processing cryptocurrency transactions. All payments are final upon completion unless otherwise required by law. Binance P2P Platform has neither the right nor the obligation to resolve any disputes arising in connection with a completed payment. Neither the Binance P2P platform nor the merchants are responsible for your losses as a result of your payment.