What is Binance P2P? It's a platform within Binance where you can buy and sell cryptocurrencies directly with other users, using local payment methods such as bank transfers (e.g., Banco de Venezuela, Banesco, Provincial, etc.).

* Steps to buy with P2P:

* In the Binance app or website, go to the "P2P Trading" section (or "Buy Crypto" and then select "P2P").

* Select "Buy".

* Choose the cryptocurrency you want to buy (e.g., USDT is the most common to start with, as it's a stablecoin that replicates the value of the dollar).

* Select your local currency (e.g., VES - Bolívar Soberano).

* Filter by the payment method you want to use (e.g., Banco de Venezuela, Banesco, etc.) and the amount.

* You'll see a list of "advertisers" (other users) with their fees and limits. Choose one with a good reputation and a price that suits you.

* Enter the amount in VES you want to pay or the amount of USDT you want to receive.

* Confirm the order. Binance will hold the seller's cryptocurrency to secure the transaction.

* Make the bank transfer to the seller using the details Binance provides in the order chat (IMPORTANT: Only use these details!).

* Once the transfer is complete, mark the order as "Transferred, notify seller."

* The seller will verify your payment and release the cryptocurrency to your Funding Wallet (formerly P2P Wallet) on Binance.

2. Buying and Selling Cryptocurrencies on the Spot Market

Once you have cryptocurrency (such as USDT) in your Spot Wallet, you can use it to purchase other cryptocurrencies.

* Transfer Funds: If you purchased through P2P, your USDT will be in your Funding Wallet. You must transfer it to your Spot Wallet to trade on the Spot Market (this is an internal and free transfer).

* Go to the Spot Market: In the app/website, look for the "Trade" or "Markets" section and then "Spot".

* Select a Trading Pair: Choose the cryptocurrency pair you want to trade (e.g.,BTC/USDT if you want to buy Bitcoin with USDT).