What is P2P?
Complete guide to P2P:
The P2P operation on Binance refers to the trading of cryptocurrencies directly between users, without the need for traditional intermediaries. It is a peer-to-peer market where buyers and sellers connect to exchange cryptocurrencies using their own preferred payment methods and prices, all within the Binance platform.
How it works:
Peer-to-peer market:
Binance P2P acts as a marketplace where users post ads to buy or sell cryptocurrencies, and other users can choose to accept these ads.
No intermediaries:
Instead of trading through a centralized exchange, users trade directly with each other.
Local currency and payment method:
The platform allows you to trade with your local currency and choose from various available payment methods.
Custody:
Binance acts as a custody service, holding funds during the trade to ensure the security of both parties.
Secure transactions:
The platform offers security features to protect users and ensure that transactions are completed safely.
Benefits of Binance P2P:
Flexibility: Allows trading with your local currency and preferred payment methods.
Competitive prices: Competition among users can lead to more favorable prices.
Security: Binance's custody service provides an additional level of protection for transactions.
Access to a wide range of cryptocurrencies: The platform supports several popular cryptocurrencies.
