What is P2P trade in Binance

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P2P trading, or peer-to-peer trading, is a type of trading where individuals can buy and sell cryptocurrencies directly with one another without the use of a centralized intermediary ¹ ².

Some benefits of P2P trading include ¹ ²:

- Zero trading fees

- More flexible payment methods

- Escrow services that hold funds until transactions are complete

- Reputation systems to ensure trustworthiness

- Direct communication for faster transactions

- Decentralization, which aligns with the principles of blockchain technology

However, P2P trading also comes with some downsides, including ¹ ²:

- Slower transactions

- Lack of AML/KYC (anti-money laundering/know your customer) regulations

- Higher risk of fraud and scams

- Lower liquidity

- Limited availability

- Technical expertise required