Binance P2P 2022 ultimate mobile guide for beginners

*P2P is an short form of peer-to

-peer

*Binance P2P is a eer-to-peer

marketplace where you can

directly trade crypto with

other Binance users,it

facilitates crypto transactions

in your preferred payment

method, local currency and

price

*In this article, learn why

users prefer Binance P2P, how

the P2P merchant economy

functions and discover basic

P2P trading techniques to

kickstart your crypto business

*If you are reading this article

and you are yet to create a

binance account,this is an

avenue to grab the on-going

opportunity in the binance

world

Peer-to-peer trading, also

known as P2P trading, involves

direct cryptocurrency transactions

between users without a third party

or intermediary. Unlike traditional

exchanges, buying and selling

crypto on a P2P marketplace does

not include charts and market

indicators. With P2P trading, you

get more authority over who and how

you trade.

Keep in mind, the freedom of P2P

trading does carry certain risks.While traditional exchanges help

broker your crypto orders, P2P

trading typically does not involve

a third party to ensure your

transaction goes smoothly. If

you’re looking for a P2P

marketplace, Binance P2P is a

trusted trading platform designed

for risk-conscious and everyday

crypto traders.

Why Trade Crypto With

Binance P2P?

Trusted by millions of users,

Binance P2P facilitates crypto

transactions in your preferred

payment method, local currency and

price. Below are three reasons why

users prefer Binance P2P for their

daily crypto trading.

1. Industry-leading securityTo ensure a safe trading

environemnt for users, every

trade on Binance P2P goes

through our escrow service. Once

you match and start dealing with

a suitable buyer, your

cryptocurrency is temporarily

deposited until you confirm the

funds have reached your bank

account. If an issue arises

during the transaction, you can

file an appeal, and our customer

service will help resolve the

problem.

2.Buy and sell with zero fees

Unlike traditional crypto

exchanges, which collect a small

fee from every transaction, P2P

marketplaces like Binance P2P allow

users to transact Bitcoin and other

cryptocurrencies with zero fees.

3. Customize your trading

With more than 300 payment methods,

including SEPA and bank transfer,

and more than 150 local currencies,

Binance P2P provides a more

customizable trading experience

over traditional methods like spot

trading.

With this we draw into conclusion

that Peer-to-peer (P2P)

marketplaces and traditional crypto

exchanges are both platforms that

allow users to swap their Bitcoin

and other cryptocurrencies for a

preferred currency. The two

platforms offer similar services in

essence, but the trading

experiences have fundamental

differences. Your traditional

crypto exchange uses an automated

engine to complete buy and selltransactions; however, P2P

marketplaces like Binance P2P

enable users to directly trade

crypto with one another using their

preferred payment method and local

currency.

In this article, we’ve provided ten

reasons why P2P marketplaces like

Binance P2P are the best way to buy

crypto, providing more control and

precision over your crypto to fiat

conversions and vice-versa.

1. Live Trade Chat

Chat with your trading counterparty

before you complete any transaction.

Clarify payment requirements,

follow up with delayed transactions

or get to know who you’re trading

with. For more information, you canread our helpful tips for using

Binance P2P chat.

2. Personalize Your Offers: Ad

Posting

Through our ad posting feature,

buyers and sellers can personalize

their offers according to their

preferred price, payment method and

local currency. Create strong ad

postings and provide suitable

trading terms for crypto users

around the world.

3.Customer Support

If you encounter a problem with

your P2P trading counterparty, you

can quickly seek assistance from

Binance’s customer support team,

who will contact you via email. Our

customer service team will come in

to mediate between both parties andsolve the issue. You can read this

article to learn more about the

appeal process.

4.Zero Fees

Traditional crypto exchanges serve

as intermediaries and will collect

a small fee from all crypto

transactions. On a P2P marketplace

like Binance P2P, you can buy or

sell Bitcoin and other popular

cryptocurrencies from other users

with zero fees.

5.Security: Escrow Service

P2P trading is more convenient than

your traditional crypto exchange,

but trading with other users also

comes with its own set of risks. At

Binance P2P, we provide an escrow

service that ensures safe and fair

trading. Once a buyer completestheir order, we handle the seller’s

cryptocurrency in a temporary

deposit until both parties confirm

the transaction is successful.

6.Local and Global Marketplace

Whereas many other P2P platforms

target specific markets, Binance

P2P provides a truly global trading

experience with support for more

than 70 local currencies. Despite

our international emphasis, we also

strive to meet the needs of local

markets via multi-language customer

support and support for regional

payment providers.

7.External Restrictions

Regulatory restrictions have

historically intervened with

traditional crypto exchanges.

Transactions are facilitatedinterpersonally on P2P marketplaces,

which means users are not affected

by these restrictions.

8.More Ways to Pay

Binance P2P offers more than 300

different payment methods on,

including local bank transfer, SEPA

Transfer, International transfer,

online wallet, cash and more.

9.Flexible amount

Start small with $3 worth of crypto

or make a large block trade. If

you’re looking to make a large

crypto order, you can find

experienced block traders on

Binance P2P to buy or sell your

crypto.

10.Fast Transaction Speeds

P2P transactions can last from 20minutes to one to three working

days, depending on the payment

method you use. Typically, online

wallet transactions are quick and

easy; however, some local banks may

take one day to process the

transfer, and in the case of

International Swift transfers, you

may need to wait up to three days.

Ready To Buy Crypto? Get

Started with Binance P2P

How to Start Your P2P Trading

Business

*click here to create a binance account and earn $100 sign up bonus

*Download the binance trading app

and verify your identity

Once you've successfully

verified your account,it's time

to get started with binance peer

-to-peer trading

* click here to get started on binance peer-to-peer

*Before we dive into the

different P2P trading strategies,

here’s an analogy to help you

understand how our marketplace

operates like a “merchant

economy.” Either you’re tired of

your daily job or looking for a

side-hustle to generate extra

income. Similar to services like

Amazon Merchant, Binance P2P

also allows you to start a

business without a large amount

of capital.

1. Select an asset(s) to leverageAmazon Merchant: You find a

specific product high in demand but

low in supply. You take advantage

of Amazon to reach users worldwide.

P2P Merchant: Find the right

combination of cryptocurrency, fiat

and payment method that’s hot in

demand. With a bit of effort, you

can carve your niche on Binance P2P.

2. Strategize your pricing

Amazon Merchant: Once you’ve found

your product or niche, you must

ensure your profit margins exceed

your costs. For example, price of

materials, shipping etc.

P2P Merchant: When posting your P2Padvertisement, you can choose

between fixed or floating price. If

USDT costs 0.99 USD and you want to

earn 5%, you would set a fixed

price of 1.04 USD. On the other

hand, floating price ads fluctuate

with the market. If you want to buy

USDT at the market price, you can

set a floating price margin of 100%

(pricing formula 0.99 x 100% =

$0.99). If you want to get a lower

price, you can set up a floating

price margin of 99.98%. (pricing

formula 0.99 * 99.98% = $0.98)

3. Promote your services

If you want to earn money with P2P

trading, your offer must be

competitive. Make sure you set a

fair price and a wide range ofpayment methods. Some users are

willing to pay more if you support

harder-to-reach payment methods.

You can also share your ad on the

Internet to reach more users

outside Binance P2P.

3 P2P Trading Strategies to

Earn Money

1. Publish buy and sell ads

Binance P2P’s ad posting

feature is designed to meet

the different goals and needs

of the crypto community. You

can set a thin price spread

to reach more customers or

set a wide price spread to

generate more revenue with

our ads. For example, settinga competitive price point

will give you a strong

reputation in the community.

2. Take advantage of crypto

arbitrage

Arbitrage is the practice of

trading assets on different

markets and profiting off the

slight price differences. The

first step, find

cryptocurrencies available on

both Binance Spot and the P2P

market. Next, go through each

currency till you find a

profitable price difference.

Once you’ve found a suitableprice difference, the final

step is straightforward—buy

low and sell high.

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