#P2P
P2P Trading (Peer to Peer) on Binance is a market that allows users to buy and sell cryptocurrencies directly with other users. This differs from traditional trading on the exchange where you trade with the platform's order book.
How does P2P Trading work on Binance?
* Market: Binance P2P is a marketplace that connects buyers and sellers. You can search for advertisements to buy or sell cryptocurrencies, or you can create your own advertisement.
* Supported Currencies: Binance P2P supports over 70 local currencies and more than 800 payment methods.
* Escrow Service: This is the key feature of P2P on Binance that ensures safety. When a trading order is placed, the cryptocurrency is held by Binance in escrow. This means that the cryptocurrency is not released to the seller until the buyer confirms receipt of the funds.
* Buying Process:
* Look for an advertisement to buy the cryptocurrency you want (like USDT).
* Choose a suitable offer from a trusted seller (check the ratings).
* Place an order and specify the amount.
* Pay the seller directly using the agreed payment method (bank transfer, e-wallet, etc.).
* After payment, confirm the payment on Binance.
* The seller will release the cryptocurrency from escrow once they confirm receipt of the funds.
* Selling Process:
* Look for an advertisement to sell the cryptocurrency you want (like USDT).
* Choose a suitable offer from a trusted buyer.
* Place an order and specify the amount.
