How to Buy and Sell Crypto on Binance P2P

Have you been looking for a guide on how to buy and sell crypto on Binance P2P? If your answer is yes then you are in the right place.

Binance P2P is a platform on the Binance exchange whereby users can buy and sell cryptocurrencies from each other via Binance secured escrow service.

If you’re residing in a nation like Nigeria where direct crypto exchanges through banks are illegal, don’t worry! With Binance P2P you can trade cryptocurrencies without panicking.

In this guide, I’ll walk you through the steps by which you can trade cryptocurrencies using Binance’s P2P feature. Let’s begin!

Why Binance P2P

In nations where direct crypto exchanges are not permitted, similar to Nigeria, the familiar method for buying and selling cryptocurrencies is through a P2P (Peer to Peer).

On this platform, people exchange cryptocurrencies straightforwardly among themselves, bypassing conventional financial institutions.

Notwithstanding, P2P platforms can be dangerous because of the absence of security features. Be that as it may, fear not! Binance P2P provides a protected and quality escrowed P2P service.

How to Buy/Sell Crypto with Binance P2P

To get started on buying and selling cryptocurrencies on Binance P2P follow these steps:

Step 1: Create a Binance Account

• If you don’t have a Binance account yet, read this blog post on how to create a Binance account.
• Make sure that your Binance account is verified and that you have added a payment method e.g. Bank account.

Step 2: Enter Binance P2P

• Sign in to your Binance account.
• Click on the “Trade” menu located at the bottom of the Binance app.
• Click on the “P2P” tab on the top menu.

Step 3: Buying Crypto

• Under the “Buy Ads” tab, you’ll find advertisements set by merchants.
• If your local currency is not loaded automatically, toggle the currency tab on Select your local currency.
• After that select cryptocurrencies to buy by choosing either USDT, BTC, ETH, BNB, or SOL on the ads page.
• Use the ads filter to search for ads according to amount, payment methods, and payment time limits.
• Choose an ad to buy crypto
• Review the merchant profile, reviews, rates, and terms.
• Enter the amount you want to buy.
• Assuming you concur with the terms, click “Buy with 0 fee.”
• On the next page click on the “Make Payment” button and the merchant payment method details would be revealed to you copy them.
• Transfer the buy order amount to the merchant’s payment method.
• Then click on the “Transferred, notify seller” button to alert the merchant.
• When the merchant confirms the payment, your bought crypto will be delivered to your Binance account.

Step 4: Selling Crypto

• Under the “Selling Ads” tab, you’ll find advertisements set by merchants.
• If your local currency is not loaded automatically, toggle the currency tab on Select your local currency.
• After that select cryptocurrencies to sell by choosing either USDT, BTC, ETH, BNB, or SOL on the ads page.
• Use the ads filter to search for ads according to amount, payment methods, and payment time limits.
• Choose an ad to sell crypto
• Review the merchant profile, reviews, rates, and terms.
• Enter the amount you want to sell.
• Assuming you concur with the terms, click “Sell with 0 fee.”
• Choose your preferred payment method
• Wait for the merchant to send the funds to your payment method.
• When you get the payment, confirm it on Binance to release the crypto to the merchant.

Conclusion

There you have it, a comprehensive guide on how to trade crypto on Binance P2P. By following the stages in this post, you can successfully buy and sell crypto on Binance P2P.

Make sure to verify your Binance account, pick top-rating merchants, and adhere to the Binance P2P rules.

Thanks for reading make sure to share with Friends and loved ones on social media!