Last updated: 7 May 2024
Binance P2P is a peer-to-peer marketplace that allows you to directly exchange cryptocurrencies with other Binance users. You can do so by using your preferred local currency, setting your own price, and choosing from more than 700 payment methods. Binance provides escrow service for its P2P marketplace to streamline and secure the transactions.
Please note that in order to sell crypto via P2P, you need to transfer the crypto you want to sell to your Funding Wallet first. For more details, please refer to How to Transfer Assets from Spot Wallet to Funding Wallet.
Log in to your Binance App and tap [Trade] - [P2P].
You can use the [P2P] trading mode to manually select offers posted by other users or merchants. Go to the [Sell] tab and choose the cryptocurrency you want to sell.
Let’s take selling USDT as an example:
1. Choose your preferred fiat currency.
2. Choose the buyer you want to trade with and click [Sell].
Please take note of the buyer’s quantities, trade limit, and payment methods before proceeding.
3. Enter the amount you want to sell.
4. Add/Select a payment method. The available options vary based on your country/region.
Please use your own account as the payment method. It should be in the same name as your verified Binance account. You should also include all the necessary information for the buyer to make the transfer.
5. Read the buyer’s terms and conditions before placing an order. Click [Sell USDT].
Now, wait for the buyer to transfer the funds to you. You may tap the [Chat] icon to contact the buyer directly. If you encounter any issues with the order, tap [Help] to contact our Customer Support agent for more assistance.
You will be notified once the buyer completes the payment. Please make sure that you received the payment in full and the payment person’s name matches the buyer’s name shown on the P2P order. Important note: Beware of any fake confirmations from the buyer. Always verify the payment from your receiving account.
After receiving the payment, click [Confirm release]. You will be prompted to verify with 2FA or passkey to confirm the release of crypto.
You can also use the [Express] trading mode to sell your crypto. This mode matches buyers and sellers based on the best-available price. For example, to sell USDT, simply select [USDT] and enter the quantity you want to sell. Tap [Sell USDT] and the system will match the best-available order for you.
