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What Is Peer-to-Peer (P2P) in Crypto Trading?

Peer-to-peer (P2P) crypto trading platforms allow users to buy and sell bitcoin (BTC) and other cryptocurrencies directly with one another. Think of it like a crypto version of Facebook Marketplace or eBay. On platforms like Binance P2P, users can create and browse listings, compare prices, and choose from a variety of payment methods.

In P2P trading, both buyers and sellers have the flexibility to create advertisements to buy or sell cryptocurrencies at their desired prices. This approach allows makers to set the prices that work for them, while takers can explore various offers to find the most favorable deals – in contrast with the automatic, orderbook-driven experience on traditional centralized exchanges. Many P2P platforms also support flexible payment options, including cash, which makes crypto trading more accessible for people without traditional banking access and makes P2P an important on-ramp to the world of digital assets.

Because of its low fees and flexibility, P2P trading is an attractive option for both beginners and experienced crypto users. Yet, as any attractive opportunity, it comes with its own risks. To protect your funds and avoid falling for scams, it’s important to understand how P2P trading works and follow essential safety tips.