Binance P2P Trading: A Complete Guide to Peer-to-Peer Buying & Selling of Crypto
Binance P2P trading allows users to buy and sell cryptocurrencies directly with each other. This peer-to-peer platform connects buyers and sellers so they can trade crypto assets in a fast, easy, and secure way. CScalp explores what Binance P2P trading is, how it works, and highlights important data you need to know.
Attention! This article is for informational purposes only and does not contain recommendations or calls to action.
The review has been prepared by the CScalp terminal team. You can get CScalp by leaving your e-mail in the form below.
The review has been prepared by the CScalp terminal team. You can get CScalp by leaving your e-mail in the form below.
What Is Binance P2P Trading?
How Does Binance P2P Trading Work?
Create a Binance Account
Buying Crypto on Binance P2P
Selling Crypto on Binance P2P
Binance P2P Payment Methods
Binance P2P Fees
Binance P2P Pros
How to Stay Safe on Binance P2P
Binance Customer Support
Frequently Asked Questions About Binance P2P
How Does Binance P2P Trading Work?
Create a Binance Account
Buying Crypto on Binance P2P
Selling Crypto on Binance P2P
Binance P2P Payment Methods
Binance P2P Fees
Binance P2P Pros
How to Stay Safe on Binance P2P
Binance Customer Support
Frequently Asked Questions About Binance P2P
What Is Binance P2P Trading?
Binance P2P trading, also known as peer-to-peer trading, allows users to buy and sell cryptocurrencies directly with each other on the Binance platform. Sellers can post trade advertisements, while buyers can browse and select whom to trade with.
How Does Binance P2P Trading Work?
Binance P2P brings buyers and sellers together in one platform. Sellers create trade ads showing the crypto they want to sell and their preferred payment methods. Buyers browse ads and select one to trade with the seller.
Binance
Create a Binance Account
To use Binance P2P, you first need to create an account on Binance and complete identity verification (KYC).
Steps to Create a Binance Account
- Navigate to binance.com and click “Register”
- Enter your email and password to create your account
- Verify your identity by submitting KYC documents
- Enable 2FA for account security
Once your account is created, you can access Binance P2P trading.
Remember that Binance has a referral program, offering users discounts on trading fees. By registering an account on Binance using a referral link, you can receive fee discounts ranging from 5% to 20% on the Spot market and 10% on Futures.
Registering on Binance through the CScalp referral link provides a maximum discount of 20% for Spot trading and 10% for Futures. To receive the discount, click the button below.
Why Is Binance Account Verification Required?
Binance requires identity verification for all accounts to ensure secure and compliant trading. This protects users against potential fraud and money laundering. KYC process also allows Binance to provide services tailored to your jurisdiction.
What Documents Do I Need for Binance KYC Verification?
To complete KYC verification, you will need to provide the following documents:
- Government-issued ID: This can be a passport, driver's license, national ID card, or other official identity document.
- Proof of address: A utility bill, bank statement, or government letter with your full name and address.
- Selfie photo: A photo of yourself holding your ID. This is used to verify your appearance matches your ID.
How Long Does Binance Verification Take?
The verification process is usually completed within 5–30 minutes. In some cases, manual reviews require 1-2 business days. Binance will notify you once your account is verified.
I'm Verified! How to Start with Binance P2P Trading?
Once your Binance account is verified, you will have full access to trade assets on the cryptocurrency exchange and can start using the Binance P2P platform. Just log into your account, deposit funds, and navigate to the P2P page to create your first trade ad or start buying crypto.
Requiring identity verification ensures every user trades through a verified account, adding an important layer of security when using Binance P2P.
Requiring identity verification ensures every user trades through a verified account, adding an important layer of security when using Binance P2P.
Binance
Buying Crypto on Binance P2P
To buy crypto on Binance P2P, follow these steps:
- Login to your Binance account
- Go to the Binance P2P trading page
- Choose the crypto you want to buy
- Browse seller ads and pick one
- Enter your trade amount and click “Buy”
- Make payment to the seller as instructed
- Wait for the seller to release the crypto
- Crypto will be deposited to your Binance wallet
Selling Crypto on Binance P2P
To sell your crypto on Binance P2P, follow these steps:
- Navigate to the Binance P2P trading page
- Click “Sell” next to the crypto you want to sell
- Enter the amount and price
- Choose your preferred payment methods
- Post your sell advertisement
- Wait for a buyer to pick your ad
- Receive payment from the buyer
- Release crypto to the buyer upon payment
- Withdraw your funds
Binance P2P Payment Methods
Binance P2P supports over 150 payment methods for buying and selling crypto. Popular methods include:
You can filter ads by payment method to find one that works for you.
Learn more: What Is P2P Payment: Everything You Need to Know
- Bank transfer
- Credit/debit cards
- Cash deposit
- Mobile wallets
- Gift cards
- Online payment platforms
You can filter ads by payment method to find one that works for you.
Learn more: What Is P2P Payment: Everything You Need to Know
Binance
Binance P2P Fees
A major benefit of Binance P2P is that there are almost no fees involved when using the platform. For example, paired with USD, there is just a 0.35% Maker Fee, while the Taker Fee is 0%:
Binance P2P Maker and Taker Fees
Binance P2P Pros
- Low trading fees
- 150+ payment options
- Great liquidity
- Fast transaction times
- Secure trading environment
Binance
How to Stay Safe on Binance P2P
While P2P trading has many benefits, it's important to take precautions.
When Making P2P Transfers, Make Sure To:
- Verify your trading partner's identity
- Avoid outside-platform transfers
- Report suspicious activities
- Only make trades through Binance P2P
By taking safety measures, you can securely buy and sell crypto P2P on Binance.
Binance Customer Support
If you encounter any issues on Binance P2P, you can get help from Binance's customer support team. They are available to assist with resolving disputes and investigations.
Frequently Asked Questions About Binance P2P
Binance P2P is available in over 170 regions around the world. Availability depends on local regulations. Major supported countries include the UK, the U.S., Nigeria, Venezuela, Mexico, and more.
No. Binance P2P only supports trading with Bitcoin (BTC), Ethereum (ETH), Binance USD (BUSD), Tether (USDT), and Binance Coin (BNB). DAI, First Digital USD (FDUSD), and Shiba INU (SHIB) are also paired with some fiat currencies. Other cryptos are not supported.
Look for Binance P2P sellers with high completion rates, recent and frequent trades, multiple payment methods, and high customer feedback scores. Avoid new sellers with no transaction history.
You can get help directly within Binance P2P by starting a live chat with the seller or buyer. For other issues, contact Binance customer support via email or open a support ticket.
No, all Binance P2P users must complete identity verification (KYC). This ensures secure and compliant trading. Advertisements are tied to verified accounts.
The minimum trade amount can vary by payment method, but is often around $5 equivalent in crypto. There is no official maximum, but trades over $1,000 may require additional verification.
Yes, you can access Binance P2P directly within the iOS and Android Binance mobile apps. This allows easy P2P trading on the go.
If you are scammed, immediately contact Binance customer support. They can investigate, freeze funds if possible, and potentially recover lost assets using their Secure Asset Fund.
Yes, you can create multiple active sell ads on Binance P2P for different payment methods, locations, currencies, etc. However, your account level and verification status will determine your maximum number of ads.
Trade times vary, but most P2P trades are complete within 5–30 minutes. Express trades can finish even faster. Slower bank transfers may take up to 2 hours.
Yes, Binance P2P offers a referral program where you can earn commissions for inviting friends to sign up.
You can chat directly with your counterparties during a trade to coordinate the transaction. However, Binance does not have broader social features or public chat rooms.
You can appeal to Binance customer support to resolve trade disputes. They will investigate and determine fair outcomes, including refunding users if needed. Their decisions are final.
Why Binance P2P Is the Ultimate P2P Crypto Marketplace?
Binance P2P provides a peer-to-peer platform to easily and securely buy and sell cryptocurrencies. With no trading fees and an extensive range of payment methods, Binance P2P offers a convenient on-ramp to the crypto market. Just be sure to take necessary safety precautions when P2P trading on Binance.
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If you have any questions, just contact our platform’s support via Telegram at @CScalp_support_bot. We will respond in a matter of seconds.
You can also visit our Discord channel and subscribe to the CScalp TV YouTube channel.