What Is P2P Trading on Binance?
Peer-to-peer (P2P) trading on Binance allows users to buy and sell cryptocurrencies directly with one another, bypassing traditional intermediaries. Binance acts as an escrow service, securing transactions until both parties fulfill their obligations. This method is popular for buying USDT (Tether) due to its flexibility, competitive pricing, and support for multiple payment methods like bank transfers, e-wallets, and cash payments.
Step-by-Step Guide to Buying USDT via P2P Trading
- Create and Verify Your Binance Account
- Sign up on Binance and complete identity verification (KYC) to access P2P features.
- Navigate to the P2P Trading Section
- Click ‘Trade’ > ‘P2P Trading’ on the Binance homepage or app.
- Select USDT and Choose a Seller
- Filter sellers by payment method, price, and completion rate. Review seller terms and ratings.
- Place Your Order and Make Payment
- Enter the amount of USDT to buy, lock the price, and follow the seller’s payment instructions. Confirm payment via your chosen method.
- Confirm Receipt and Release USDT
- Once payment is sent, click ‘Transferred, Notify Seller.’ The seller releases USDT from escrow to your Binance wallet after confirming payment.
Tips for Safe and Efficient P2P Trading
- Only trade with sellers boasting a 95%+ completion rate and positive reviews.
- Use Binance’s in-app chat for communication and dispute resolution.
- Double-check payment details (e.g., account numbers) before sending funds.
- Avoid off-platform transactions to stay protected by Binance’s escrow.
Frequently Asked Questions (FAQs)
- Is P2P trading safe on Binance?
Yes—Binance’s escrow system holds USDT until payment is confirmed. Disputes can be escalated to Binance support.
- What payment methods are supported?
Options include bank transfer, PayPal, Venmo, Paytm, and cash deposits, depending on the seller.
- How long do P2P transactions take?
Most trades complete in 15–30 minutes if both parties act promptly.
- Are there fees for P2P trading?
Binance doesn’t charge fees, but sellers may include costs in their pricing.
- What if the seller doesn’t release USDT?
Open a dispute via Binance support, providing payment proof for resolution within 24 hours.
