TANZANIA 🇹🇿 P2P TRADING HUGE PROFITS 👇🏾💪🏾😋
Crypto exchanges aren’t the only way to buy Bitcoin and other cryptocurrencies. Find out why peer-to-peer marketplaces like Binance P2P provide the best method to buy crypto.
P2P marketplaces like Binance P2P enable users to directly trade crypto with one another using their preferred payment method and local currency.
Binance P2P offers more than 700 different payment methods and more than 100 local currencies.
In this article, I have provided ten reasons why P2P marketplaces like Binance P2P are the best way to buy crypto.
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 sell transactions; however, P2P marketplaces like Binance P2P enable users to directly trade crypto with one another using their preferred payment method and local currency.
So in this article, I have provided 10 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.
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.
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. 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 completes their order, we handle the seller’s cryptocurrency in a temporary deposit until both parties confirm the transaction is successful. Coins are held under escrow security until the seller confirmed payment.
4. 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 and solve the issue. You can read this article to learn more about the appeal process.
5. 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. The picture shows how you can buy with zero fee.
6. More Ways to Pay:
Binance P2P offers more than 700 different payment methods on, including local bank transfer, SEPA Transfer, International transfer, online wallet, cash, and more. Look at the following picture for more understanding.
7. 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.
8. External Restrictions:
Regulatory restrictions have historically intervened with traditional crypto exchanges. Transactions are facilitated interpersonally on P2P marketplaces, which means users are not affected by these restrictions.
9. Fast Transaction Speeds:
P2P transactions can last from 20 minutes 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.
10. Flexible amount:
Start small with $2.83 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.
Ready To Buy Crypto? Get Started with Binance P2P!
Create a 👉🏾 Binance Account or download the Binance crypto trading app, and then verify your account. Once your account is successfully verified, you can start your crypto journey with zero fees on Binance P2P people willing to pay more just to use that payment method that is harder to service.
Advantages of Trading in Binance P2P
1. Zero trading fees:
Since day one, Binance P2P has not charged any fees for every transaction on the platform. This way, every deal you make results in you getting the full gain, without worrying about charges or other hassles that come with other crypto P2P websites.
2. Multiple payment methods and fiat currencies:
Binance P2P has also built a network of widely used payment channels as available options for your P2P transactions. We support over 700 payment methods around the world, so you’re likely to find at least one that corresponds to what you often use. We also offer over 100 fiat currencies, covering major P2P trading spots around the world.
3. Truly local and global marketplace:
The network of payment channels and fiat currencies we support has turned Binance P2P into a compelling global product, whereas many other P2P platforms are geared specifically toward a few markets. While hyper-localization has its merits, you can also see this localized emphasis on Binance P2P, even with a global reach, through our multi-language customer support and focus on supporting every region’s biggest payment providers. You can have local and global in one place with Binance P2P.
4. Escrow service for your safety:
We combine zero fees with a global reach, and we add top-notch security and assurance on top of that combination. Each Binance P2P trade involves escrow service protection, which assures that each counterparty in a transaction is protected from any attempt by either party to act in bad faith. Find out more about our escrow service here.
Opportunities From P2P Trading:
The following list of opportunities is based on best practices shared by some of our merchants, illustrated hypothetically. While each region has its local situations that may prevent people from doing certain activities, we believe that the following tips and activities help P2P merchants make the most out of their use of Binance P2P.
1. Profit Margin Calculation:
Before you start trading, you need to set up your profit margin. Observe the prices in the market and configure your price strategy (whether floating or fixed) to ensure your profits.
2. Publishing Both Buy and Sell Ads:
The spread is what we call the difference between the prevailing price on the buy and sell sides in a P2P platform. The right strategy in placing both buy and sell ads will make the difference in terms of realizing what you want to achieve in P2P trading. You can make the spread thin if you aim to get more customers and gain more trust and higher completion rates, or you can widen the spread if you aim to focus on the profit side.
3. Create A Crypto Trading Business in Your Area:
Through Binance P2P, you can buy and sell crypto in your local market. Several merchants have reported earning between a couple of hundred dollars to over $5,000 every day, depending on the size of the market. You have the opportunity to post your ad and provide a competitive price that other traders could not resist taking.
4. Go International:
Binance P2P is a global platform supporting more than 100 fiat currencies. You can buy crypto using your local currency, take advantage of a competitive price in your market, and sell that crypto in other markets worldwide where people are willing to pay more for the same amount of crypto. However, take note that this kind of operation requires a certain level of coordination across countries, as well as some needed paperwork, so a bigger market comes with a bigger set of responsibilities.
5. Take Advantage of Multiple Payment Methods:
Binance P2P has more than 700 payment methods that you can use. People will often pay a higher price to use a certain payment method that they prefer. You can take advantage of this by buying crypto at a competitive price through a very accessible payment method and then selling it using a less accessible payment method. There will be people willing to pay more just to use that payment method that is harder to service.
6. Explore Arbitrage:
With zero fees to worry about, Binance P2P offers unique opportunities to explore discrepancies between market pairs and international markets. You can earn from these chances if you are alert enough to spot these and act accordingly.
7. Buy and Hold:
Of course, there’s nothing wrong with the good old HODL, especially if you’re not into frequent P2P transactions. You can just buy crypto and then hold it until it goes up significantly, and Binance P2P’s support of multiple payment methods and currencies will make it easier for you to do so, compared to other platforms.
How to Use Binance P2P’s Trade Zones for Secure and Hassle-Free Crypto Trading:
What Is a Trade Zone?
A Trade Zone refers to a section of the Binance P2P marketplace where a specific trade type occurs. The first step in exploring Binance P2P is understanding the four Trade Zones it offers – P2P, Express, Block Trade, and Cash. Read on to learn more about each zone and what user needs they are designed to serve.
The P2P Zone:
The P2P Zone is Binance P2P’s core offering. Within the P2P Zone, traders can access the full range of buyer and seller ads for all supported payment methods and cryptocurrencies. Users can even compare prices across all available offers to make choosing a counterparty for a P2P trade easier.
The P2P Zone also streamlines trading by offering over 700 payment methods and 100 fiat currencies to trade with, and users have more control over who they buy from or sell to.
Advantages of the P2P Zone:
The most significant advantage of using the P2P Zone is access to the full range of ads. Thanks to this feature, users will most likely find what they’re looking for, no matter the preferred payment method. For a bird’s-eye view of the P2P market, the P2P Zone should be your first stop.
Limitations of the P2P Zone:
Because the P2P Zone displays all available ads, some of the offers you see will be from new P2P merchants or those who haven’t gone through additional verification checks as experienced sellers.
Who should use the P2P Zone?
For new users who are still exploring the Binance P2P platform and getting used to its features, the P2P Zone is a great place to start. You can sample the full breadth of the market and start exploring deeper when you want.
The P2P Zone is simple to use and accessible through Binance’s website or app. To learn more about using the Binance P2P Zone, check out the following articles:
How to buy:
https://www.binance.com/en/support/faq/360039384951
How to sell:
https://www.binance.com/en/support/faq/360039385091
The Express Zone:
The P2P Express Zone allows you to place an order immediately by entering the fiat amount you want to buy or sell. While on the P2P Zone homepage, you’ll see a complete list of ads you can select from manually. However, the Express Zone displays a simple order page that matches users directly with suitable, verified merchants. This flow provides a more streamlined experience but limits your ability to control who you transact with fully.
Advantages of the Express Zone:
The Express Zone’s ultimate benefit is speed. It enables users to trade with unmatched speed and convenience, executing transactions in just a few taps on their mobile devices. Furthermore, the counterparty in any Express Zone trade will always be an experienced merchant, giving you extra peace of mind.
Limitations of the Express Zone:
Compared to P2P Zone, the Express Zone provides a narrower range of ads and offers. This limitation makes comparing prices more challenging, potentially narrowing the choice of digital assets to trade and available payment options.
Who should use the Express Zone?
If you’re looking for quick, easy, and hassle-free crypto transactions, Binance P2P’s Express Zone might be for you. The added safety of dealing with verified merchants can also help relieve some pressure for newcomers.
The Block Trade Zone:
Block trades are large trades made directly between two parties. P2P users engage in block trades for the convenience of quickly buying or selling large amounts of cryptocurrency at a given price. These trades can also help you avoid the price slippage you might experience on a traditional order-book exchange.
Only block merchants can post ads in the Block Trade Zone, which can be identified by their purple diamond badges. At Binance P2P, we always look for experienced and reliable block trade merchants and have a streamlined process to becoming one.
If you have a high average order volume, can pay a one-time security deposit, and clear a due diligence check performed by our risk and merchant management team, consider the opportunity! As a verified block trade merchant, you’ll also get exclusive benefits, VIP discounts, and access to pro-level trading tools.
Advantages of the Block Trade Zone:
If you want to get the best prices on large trades, the Block Trade Zone is the place to go. Block trade merchants enjoy lower fees than regular merchants, which means their prices can be more competitive, and takers could enjoy better deals from such traders.
Limitations of the Block Trade Zone:
The number of verified block trade merchants is much lower than regular sellers. Because of this, the liquidity offered in the Block Trade Zone tends to be lower than others. You may sometimes have trouble finding someone to fill your order immediately, and your payment options could be limited.
Who should use the Block Trade Zone?
For P2P users looking to make large orders, the Block Trade Zone can easily filter out unsuitable offers. You’ll also get competitive prices and experienced counterparties, which is a priority for many bulk traders.
Note that as of May 2023, the P2P Block Trade Zone is available in NGN, PEN, VES, AED, ARS, BRL, COP, MXN, PHP, VND, CNY, and INR markets.
The Cash Zone:
The Cash Zone is Binance P2P’s newest Trade Zone. Here, users can choose from a range of cash ads and visit a Cash Merchant’s physical store to conduct face-to-face trades using fiat currency.
Only verified Cash Merchants can post ads in the Cash Zone. Binance P2P is always looking for experienced Cash Merchants to join our platform. Applying is a straightforward process if you already have a physical store that accepts crypto payments.
As a Cash Merchant, you’ll receive exclusive ad posting options, access to advanced ad management tools, increased brand awareness, and exclusive rewards.
Advantages of the Cash Zone:
Users can easily locate a Cash Merchant near them on the cash ad page, visit the merchant’s physical store, and trade crypto in person using cash as a payment method.
For users in specific regions, buying or selling digital assets in the Cash Zone eliminates the long waiting times that can occur during bank transfers.
Who should use the Cash Zone?
If you’re looking for a secure way to exchange crypto for cash in your region or abroad, Binance P2P’s Cash Zone might be the answer. The Cash Zone can be a suitable option, especially for users with limited access to financial services.
Moreover, the Cash Zone helps merchants with existing physical stores expand their customer base via ad listings on our P2P marketplace.
Please note that as of February 2023, the Cash Zone is only available in the TRY, HKD, TWD, KES, GHS, CLP, PEN, and UYU markets.
Also, let's see how to select a good counterparty on Binance P2P:
Check the counterparty's profile: Before initiating a trade, check the counterparty's profile on Binance P2P. Look for their trading history, ratings, and reviews from other users. This can give you an idea of their reliability and trustworthiness.
Communicate with the counterparty: It's important to communicate with the counterparty before initiating a trade. Ask any questions you may have and ensure that they respond promptly and clearly. This can help establish a good rapport and build trust.
Verify the counterparty's identity: Binance P2P offers identity verification for users, which can help ensure that you are trading with a legitimate user. If the counterparty has not completed identity verification, you may want to exercise caution and consider trading with someone who has.
Use Binance's escrow service: Binance P2P offers an escrow service for trades, which can help protect both parties in the trade. The escrow service holds the funds until both parties have confirmed that the trade has been completed successfully.
Be cautious of scams: Be wary of any offers that seem too good to be true or requests for personal information or payment outside of the Binance P2P platform. These could be signs of a scam, and it's important to exercise caution and report any suspicious activity to Binance support.
How to buy and sell on Binance P2P:
To buy on Binance P2P:
Log in to your Binance account and select the P2P trading tab.
Choose the cryptocurrency you want to buy and select a seller.
Initiate the trade and follow the instructions to complete the transaction.
Once the seller confirms the payment, the cryptocurrency will be released to your Binance account.
To sell on Binance P2P:
Log in to your Binance account and select the P2P trading tab.
Choose the cryptocurrency you want to sell and select a buyer.
Initiate the trade and follow the instructions to complete the transaction.
Once the buyer confirms the payment, the funds will be released to your Binance account.
Note: It's important to note that Binance P2P offers an escrow service for trades, which can help protect both parties in the trade. The escrow service holds the funds until both parties have confirmed that the trade has been completed successfully.
Helpful materials:
Nine Reasons why Peer to Peer is best way to buy bitcoin in your local currency
Or
Where and How to buy Bitcoin (BTC) Guide
Or
Create Your Binance Account to earn welcome bonus of 100USDT