how binance p2p works

To commence P2P trading on Binance, first create an account if you haven't already and potentially complete KYC for identity verification, followed by accessing the P2P trading platform, selecting the currency and payment method, and browsing or searching for trade offers that align with your preferences.

Nov 01, 2024 at 08:52 am

How Binance P2P Works

1. Create a Binance account. You'll need to create a Binance account if you don't already have one. You can do this by visiting the Binance website or downloading the Binance app.
2. Complete KYC if required. Once you have created an account, you will need to complete KYC if your region requires you to do so. KYC stands for "Know Your Customer" and involves providing Binance with your personal information and Proof of Address (POA) to verify your identity.
3. Go to the P2P trading platform. Once you have completed KYC, You can access the Binance P2P trading platform by clicking on the 'P2P Trading' tab on the Binance website or app.
4. Select a currency and payment method. The Binance P2P trading platform supports a number of different currencies and payment methods. You will need to select the currency you want to trade and the payment method you want to use.
5. Find a trade offer. Once you have selected a currency and payment method, you will need to find a trade offer that meets your requirements. You can do this by browsing through the list of available trade offers or by using the search bar.
6. Place an order. Once you have found a trade offer that you are interested in, you can place an order. You will need to specify the amount of currency you want to buy or sell and the price you are willing to pay or accept.
7. Complete the trade. Once you have placed an order, you will need to complete the trade with the other trader according to the said instructions. This may involve sending the cryptocurrency to the other trader's wallet or providing them with your bank account information.
8. Rate the trade. Once you have completed the trade, you will be able to rate the other trader. This will help other users to make informed decisions about whether or not to trade with that person.