New to Binance P2P? Here's everything you need to know 👇
The platform lets you trade directly with others using over 300+ payment methods and 70+ fiat currenciesLearn all you need to know about Binance P2P, a direct way to buy cryptocurrencies from other sellers, merchants, and vendors. From the terms you need to know to the exact steps to getting started, we’ve got you covered.while trading and wondered exactly what it means? Maybe you’ve even come across it on the Binance website.
However, older P2P models also came with risks. In-person and online trading sometimes led to thefts, threats, and scams. To make P2P trading safer for new potential traders, Binance started Binance P2P.was created to enable P2P currency exchange transactions with local currencies. The service is a peer-to-peer marketplace that allows you to directly trade cryptocurrencies with other Binance users using your preferred local currency, price, and payment method.
With Binance facilitating the process and providing some safeguards, the P2P trading process is significantly improved. The platform today is the easiest gateway to access crypto with over 85 local currencies available to users, and over 300 flexible payment methods.Binance has various wallets for different trading purposes. Originally, when users started P2P trading on Binance, they had access to a P2P Wallet. Now, Binance has migrated P2P Wallets to Funding Wallets.
first. The balance shown on your Funding Wallet includes the total crypto balance from your P2P buy/sell orders, Binance Pay, Binance Card, Binance Gift Card and Binance Pool.An ad, or advertisement, is when a P2P user broadcasts their trading requirements. An ad consists of ad type , the crypto asset the user is willing to trade, fiat currency for the ad, total crypto buy/sell amount, price, order limit, payment window, preferred payment method, user nickname, and terms and conditions.
If you are a buyer and you canceled an order, it will affect your completion rate, whereas the seller’s rate will be unaffected.
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