Binance Updates Again:

P2P now displays verification conditions in advance when selecting ads!

Many people don't know what P2P is?

A quick 1-minute guide to understanding P2P

In the cryptocurrency field, P2P stands for Peer-to-Peer, which is a decentralized trading model with the following characteristics and applications:

Characteristics

• Decentralization: There are no centralized institutions or intermediaries controlling the transactions; transactions occur directly between users, allowing both parties to send and receive digital assets via cryptocurrency wallets.

• Anonymity: Users can often conduct transactions using pseudonyms or anonymously, only needing to know the other party's wallet address to complete the transaction, which protects users' privacy to some extent.

• Efficiency: There is no need to go through multiple intermediaries like in traditional financial transactions; the speed of transaction confirmations is relatively fast, especially advantageous in smaller transactions.

Applications

• Cryptocurrency Trading: Users can find trading counterparts through P2P platforms and directly exchange cryptocurrency for fiat currency or other cryptocurrencies.

• Cross-Border Payments: Due to not being restricted and regulated by traditional financial institutions, P2P cryptocurrency trading can facilitate cross-border fund transfers more conveniently, reducing the cost and time of cross-border payments.

However, P2P trading of cryptocurrencies also carries certain risks, such as market volatility risk, security issues of trading platforms, and potential use in illegal activities.