How Crypto Users and Traders Are Using Binance P2P to Safeguard Their Crypto
By r3xol
P2P trading also known as Peer-to-Peer trading basically involves individuals selling or buying cryptocurrencies directly from one another. This could take on crypto exchange websites/app. Binance is one of such crypto exchange and arguably one of the best when it comes to P2P trading.
Binance P2P provides a safe platform to conduct crypto trades in 300+ payment methods and 70+ fiat currencies. User protection is seriously taken by Binance in order for a safe and secure Crypto trading experience.
Trading P2P on Binance is not as hard as most think it is and the steps involved are somewhat close to easy.
Buying Cryptocurrency on Binance P2P
- Create a free Binance account using this link https://www.binance.com.en/register?ref=ZCF73TU7
- Verify your Binance account by completing K-Y-C. Please click on the link below to view the steps involved in getting verified.
https://twitter.com/helix1150/status/1442117301894008832?s=19
- On the home page, select Buy crypto>>> P2P trading.
- Click Buy next to the cryptocurrency you wish to get. You could also use the filter option for amount and transfer option.
- Next, add a fiat currency amount or quantity of cryptocurrency you wish to buy and click Buy Cryptocurrency.
- Verify the payment method and total price after which you make the payment given you by the exchange. After payment, click Transferred, next >>> Confirm.
- After the seller confirms your payment, your crypto asset is released into your P2P wallet.
Selling Cryptocurrency on Binance P2P
- On the home page, select Buy crypto>>> P2P trading
- Enter the fiat amount/cryptocurrency quantity you wish to sell and click Sell.
- The countdown then begins for the buyer to make payment.
- Once the buyer makes the payment, the transaction status changes to To be released. Ensure that the payment has entered into your account before releasing.
- Click Confirm release and Confirm.
How Crypto Users and Traders Are Using Binance P2P to Safeguard Their Crypto
- Escrow Service: Binance P2P’s escrow service involves a reserve mechanism during any pending transaction. This prevents scammers from taking your money/crypto asset without fulfilling their end of the bargain either by sending fake transfers or not making payment in full.
- Verified Merchants and Users: Binance uses a strict vetting process to verify merchants in order to provide users with the best P2P trading experience. This affords users and traders alike the opportunity of checking the merchant’s information, reviews, 30 days completion rate and the average transaction time.
- Customer Support: Binance chat support affords Crypto users and Traders the opportunity to helpful resources and automatically escalates issues to live support agents. The Customer support is 24/7.
- Protection of privacy: Binance is very keen on Users and Traders privacy and this is what drives them to be very discreet with personal information of Buyers and Sellers on the P2P platform.
In Conclusion, this is how Crypto Users and Traders are using Binance P2P to safeguard their Crypto. You could also begin your P2P trading journey now https://p2p.binance.com/en
Happy Trading! https://www.binance.com/en/buy-sell-crypto?ref= ZCF73TU7
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