What is Binance P2P?
Binance P2P is a peer to peer trading platform. It allows Binance users to make purchases with each other using fiat.
Can also understand this type of C2C transaction (Consumer to consumer). In C2C transactions, users will buy and sell directly with other users.
The role of Binance in the P2P platform
Binance will provide its users with a platform. At the wire, users can make purchase requests with their fiat.
In addition, Binance will be the place to ensure your transactions go smoothly. Thanks to the online property guardian service, your property will be safe.
How will P2P trading on Binance take place?
Buyer in VND
When a buy order is created, the coin from the seller will be held. You will directly transfer VND to the seller.
The seller has received the money. They will then confirm unlocking the number of coins that you will receive.
Seller sold out VND
When a sell order is created, the coins you sell will be held. You wait for the VND to transfer to your account and then unlock the coin and you're done.
Peer-to-Peer transactions on any device
Currently, you can only trade the latest version of Android Biannce App and IOS. Transactions on the Website will be released soon.
The web interface was launched on February 28, 02.
Who can trade on P2P platform?
You must first have a Binance account. If anyone has not yet registered, please register at the following link: https://blogtienao.com/go/binance.
If you already have an account, you must meet the following requirements:
- SMS verified account
- The account has made KYC successful
- Account signed the agreement
Instructions for posting KYC and SMS verification see the link below. Signing BTA agreement will guide later.
Watch now: How to register, verify SMS and KYC on Binance Exchange
Instructions for using Binance P2P on mobile applications
How to sign the agreement
To be able to make purchases, you must sign an agreement with the terms of Binance.
Step 1: Open up Binance app. At Home you choose Buy and sell with one click ..
Or you can also choose Transactions -> Fiat
Step 2: You choose the button ... and click User manual as shown below.
Step 3: choose Sign the agreement as shown below
Step 4: Read the agreement carefully and press the button I have read and agree to the terms of the agreement.. So that's it then.
How to buy cryptocurrency in P2P mode
Steps to buy in P2P mode on Binance
- Step 1: Add Payment Method.
- Step 2: Select coin and enter the quantity you want to buy.
- Step 3: Transfer money in VND and press the button “I have already paid".
Details of the steps
- Everyone's in account then select Install fiat.
- Press the button Payment methods.
- Everyone choose a bank payment method. Because at present, VND only supports banks.
- Enter your bank information like:
- Bank card number (bank account number)
- Bank name
- Bank branch information
Once completed, you press the button Confirm.
- Enter the 2FA code is done.
After successfully adding the payment method, you will get as shown below.
- Everyone's in Deal and choose Fiat nhé
- At the tab "Buy" you choose the coin you want to buy. Next, select the ad with your desired price and press the button Buy .
- There will be 2 cards "Buy fiat"And"Buy crypto“. With fiat card, you enter the amount of VND you want to buy. Crypto card is the amount of coin you want to buy.
It depends on which style you want to buy. Enter the number and press the button Buy USDT.
- Within 15 minutes you make the payment according to the information provided. Next, you click the button Mark as paid.
- You can cancel the order by clicking the button Order cancellation
- You can chat with the seller by clicking the message icon with the word Contact below
- You can call the seller if needed
How to sell cryptocurrencies in P2P mode
Steps to sell in P2P mode on Binance
- Step 1: Transfer money from Wallet floor blood Fiat wallet
- Step 2: Select coin and enter the quantity you want to sell.
- Step 3: Wait for the bank money and confirm the transaction
Detailed implementation steps
- Everyone goes to the "Fund"And select the button Moved on to switch from Wallet floor blood Fiat wallet.
- At the section Moved on, choose From Wallet floor - This Fiat Wallet. Next, select the Coin you want to transfer to Fiat wallet to sell and enter the quantity. Finally, you press the button Confirm .
Note: There are some of you who have not entered the Chinese phone number, then you can delete and re-download the application.
- Enter the 2FA code
- Press the button Go to the transaction. You can also choose Transactions -> Fiat to conduct P2P transactions on Binance.
- Choose card "Sell" and choose the coin you want to sell. You select the appropriate purchase ads and then select the sell button.
For example, I choose to sell USDT to show you how it works. If anyone wants to sell Bitcoin, choose BTC.
- Enter the quantity you want to sell and press the button Sell USDT.
Wait for buyers to transfer money to the card and unlock the coins you want to sell.
Note: Only unlock once the money has been received. Also read some tips below for better deals.
How to create ads on Binance P2P
People click on the "+" above to create ads for purchases on Binance P2P
Choose the ad type to buy or sell. If you want to sell USDT to VND, you choose “Asset" is USDT "with Fiat"You choose VND.
You can choose a fixed price or a floating price (Floating price = market price * currency * floating price adjustment). If you choose a floating price, the price you buy or sell will fluctuate according to the market price.
And you choose a fixed price, the price you will not change. For example, if you want to buy USDT for 1 USDT = 22,000 VND but do not want to buy at any other price, you choose a fixed price of 22,000.
Once completed, press the button Next to the next step
Enter the amount, payment method and time you want to trade. For example, if you want to buy 1 BTC, then you enter the total number of transactions is 1 BTC.
You choose the bank payment method when trading in VND offline. Time limit for payment (the time the buyer pays you) you can choose from 15 minutes to 6 hours.
Done then you press the button Next ok
You can add sections Comment to alert users before trading. The auto-reply part is the message that will be sent to the buyer or seller when the order is made.
You can set conditions that partners can deal with you. Like how many days the account has been registered and how many BTC is owned. Ineligible buyers or sellers will not be able to transact with you.
Part Online now is the ad you can buy and sell right away. And you choose Offline, perform manually later then you must turn Online again to trade.
The rest is you press the button To post.
This step you just need to confirm 2FA is done. Once confirmed, you get the advertisement as shown below. You can Edit ads such as: price, payment method, ...
When you no longer want to buy or sell, you can click the Online button to set it to Offline. You can close the ad if you want. Once closed, the ad will be lost if you want to buy or sell coins on Binance P2P, you must create another ad.
Instructions for use on the Website
If you already use Binance P2P on the mobile app, then you have a few steps you can skip.
Set a nickname and add a payment method
First, people access the P2P trading interface on Binance's website. How to access as shown below or you can access by link: https://p2p.binance.com/vn/trade/buy/USDT
Click on any buy or sell order. If not verified SMS, pull up to review yourself mentioned in the section Who can trade on P2P platform ?.
Next, click the button Enable to give a nickname. Finally, you press the button Meet all requirements, trade immediately.
Add payment method
Everyone in Account choose Pay. Everyone select the P2P tab and press the "Add payment method" to G
Enter your payment method information then press the button Confirm.
Return to the P2P transaction interface. If you want to buy, select the tab "I want to buy". If you want to sell, select the tab "I want to Sell".
You type the coin you want to buy and press the blue Buy button. For example, to buy USDT, click crack Buy USDT
Next you enter the quantity you want to buy at "I want to buy". Payment method you choose Bank card next to the button Buy now.
Finally press the button Buy USDT
Make a transfer to the information provided. After the transfer is complete, click the button Transferred money, next.
If you cannot transfer, you can Cancel the order by clicking the Cancel button.
In addition, you can chat with the seller at the right root of the screen.
After buying, you can go to P2P wallet and choose to switch to Spot wallet to be able to make transactions on Binance. How to transfer, you see the dentist
To sell, you must have coins in your P2P wallet. You can switch from Spot Wallet to or grab coins purchased on Binance P2P for sale.
People go to P2P Wallet select Transfer and then select the mosquito button between From and To. Here, I will sell coins, so I will switch from Spot Wallet to P2P Wallet.
If you buy and want to transfer coins to trade then choose someone again.
Finally press the button Confirm money transfer.
Now you can make a sale by clicking the button Sell BNB If you are choosing BNB. Enter the quantity you want to sell and press the button Sell now.
Then, you check if the account has received the money and unlock the coin is done. If the transaction has a problem, you can make a complaint.
Tips on trading on Binance P2P
Here are some tips for trading brothers to avoid fraud.
When the purchase
- When making a transfer, do not write in the notes the names of coins. For example, Bitcoin, BTC, Tether, USDT, Ethereum, ETH, Binance Coin, BNB. If you log in it is likely that Your account will be blocked from payment or frozen.
- Your money will be sent directly to the seller. Coins will be kept so don't be afraid of them.
- Do not cancel transactions more than 3 times a day. If you do, then trading will be banned throughout the day.
When selling transactions
- When selling you should log into your bank account to check. Because there are some fake message status. Should you see the message and then confirm unlocking offline.
- You can Appeal if you have not received the money, and the buyer has confirmed payment for you.
- You only agree to unlock when you have confirmed that the money has entered your account to avoid losing your account.
Hopefully, through this article, everyone knows what Binance P2P is and how to trade on it.
If you have any questions, comment below. Blogtienao.com will answer you as soon as possible.
Wished everyone success!