Binance P2P Beginners Guide: How to Buy and Sell Crypto Safely
What is Binance P2P?
Binance P2P (Peer-to-Peer) is a marketplace within Binance where users can buy and sell cryptocurrencies directly with one another, using local currencies and various payment methods.
How to Buy Crypto on Binance P2P (Step-by-Step)
1. Create and Verify Your Binance Account
Sign up at Binance.com.
Complete KYC (ID verification) for full access to P2P.
2. Go to P2P Trading
Open the Binance app or website.
Tap on “P2P” under the “Trade” menu.
3. Set Your Preferences
Choose the crypto you want to buy (e.g., USDT, BTC, ETH).
Select your fiat currency (e.g., USD, NGN, INR).
Filter by payment method, e.g., bank transfer, PayPal, etc.
4. Choose a Seller
Check the seller's completion rate and number of trades.
Look for “verified” merchants or highly-rated users.
5. Place an Order
Enter the amount you want to buy.
Confirm the order, then make payment outside Binance using the agreed method.
6. Mark as Paid
Once you've paid, tap “Transferred, notify seller.”
7. Wait for Crypto Release
The seller will release the crypto once they confirm your payment.
Crypto will be deposited into your Funding Wallet.
How to Sell Crypto on Binance P2P
1. Move Crypto to Funding Wallet
Transfer the crypto you want to sell from Spot Wallet to Funding Wallet.
2. Select the 'Sell' Tab
Choose the crypto you want to sell and preferred fiat currency.
3. Pick a Buyer
Use filters to choose buyers with high completion rates and good reputation.
4. Create or Accept an Offer
Set the price, payment method, and transaction limits.
Wait for the buyer to send the money.
5. Confirm Payment & Release Crypto
Verify that you've received payment in your account.
Once confirmed, release the crypto to the buyer.
Safety Tips for Binance P2P
Only trade with verified users or those with high ratings.
Never release crypto before confirming payment
