What is P2P trade on binance 2023

What is P2P trade on binance?

Binance P2P Trade

Binance P2P Trade is a peer to peer marketplace where you can buy and sell cryptocurrencies with Binance users using your local (Fiat) currency (KD or Taka).

For example-

Mamun ordered to sell dollars for local currency (KD or Taka) from Masud now Masud will buy dollars with local currency (KD or Taka).

Now the main point is, while buying masud dollar first you need to pay KD or Taka through bank or any wallet and inform him by message or skinshort that money or KD has been paid, then mamun receive money or KD and a button called payment receipt

Clicking on that button will send dollars or coins to Masud’s crypto wallet.

Mobile Topup on Binance…………

This is how dollars are sold to each other.

Now how to complete this task is discussed below thanks.

For example –

• Confirm Payment Receipt.
• Verify payment.
• Done.

Each step of the complete process of P2P Trade is discussed in detail below –

P2P trade has two Step For example –

1.  Sell
2.  Buy

How to complete P2P trades (Sell)

1. Sell

Now how do we sell our dollars or coins on Binance to another Binance user?

The details are mentioned below step by step –

Step- 1

First create a new account and verify that account immediately.

Then the account should be opened and click Wallets Button.

Step- 2

Then click on funding option from wallet.

Step- 3

Then click on P2P option from Funding.

Step- 4

Now click on sell option to complete two more tasks.

Verification Binance account …………

For example –

1.  – 2  Country currency selection.
2.  – 3  Payment method selection.

– 2  Country currency selection

Clicking on this button will show the short code name of different countries currency, you have to select the short code name of the currency of that country.

– 3  Payment method selection  

Then the third option is to select the payment method, through which payment method you want to withdraw money like – bank, bkash, cash etc.

Step- 5

There are four things you need to keep in mind before clicking the sell button.

Earn money spot trade on Binance …………….

For example-

1. Customer Name.
2. Rate.
3. Transaction limit.
4. Payment Method.

Step- 6

Then choose how much to sell ($222) and how to show the buyer whether it’s fiat currency or crypto currency.

Step – 7

Now by clicking on chatting option you have to talk to the person to whom you want to sell coins through message that you will give me money in this account and you have to give your bank name and account number in the message box. Then he will send money to your account and you will click on receive payment option.

Step – 8

Now Click Payment Receive Button.

Step – 9

Now Click Payment Receive Confirm Button.

Step – 10

Then the verification option will appear

For example-

1. First click on Send Code.
2. The code should be pasted in the blank space.
3. Click on submit button.

Step – 11

Then order complete done–

2. Buy

Now how do you buy coins or dollars, you can buy dollars or coins in the same way as you sold them. When you buy coins or dollars, just click on the buy option and send the money to the account you want to withdraw money from.

Note:- Hope everyone understood the process of selling coins or dollars but if there is any problem talk to me on whatsapp and comment in the comment box.

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