Note: This is the official announcement from Binance Register Binance Account to be among of winners. Make sure you read on your notification 🔔 icon to be a part of winners

Welcome to the Learn and Trade Quiz!

This promotion is open to users who have not traded on Binance P2P prior to 2023-07-21 13:00 (UTC). The first 200 eligible users who answer all questions correctly and make a first purchase of at least USD 25 or equivalent of any cryptocurrency on Binance P2P in a single transaction during the promotion period, will win 4 USDT token vouchers each.

How to participate:

Step 1: Read this brief guide on how to trade P2P --> A Beginner’s Guide to Buying and Selling Crypto via Binance P2P

Step 2: Do this quiz and answer ALL the questions correctly

Step 3: Go ahead and perform your first trade of at least USD 25 equivalent on the Binance P2P portal --> Trade now!

Done! If you are one of the first 200 people to answer all the questionscorrectlyt AND you traded at least USD 25equivalentt in one transaction, 4 USDT will be yours! Good luck!

1.

What is P2P trading?

1. Place-to-place trading, where you buy and sell on various platforms to get the best rates.

2. Place-to-place trading, where you buy and sell directly with another person without going through a middleman.

3. Peer-to-peer trading, where you buy and sell directly with another person without going through a middleman.

4. Peer-to-peer trading, where you buy and sell with another person via a middleman.

2.

Who can use Binance P2P?

1. Any Binance user.

2. Binance and non-Binance users.

3. Only Binance users who have completed the identity verification process.

3.

What are the benefits of using Binance P2P?

1. You can trade with zero fees.

2. There is an escrow service designed to protect users from theft and scams.

3. There is a wide range of payment methods available.

4. All are correct.

4.

Which wallet is used for Binance P2P trading?

1. Spot wallet

2. Margin wallet

3. Funding wallet

4. Futures Wallet

5.

Before making your first trade what steps must you take to set up your account?

1. Enable two-factor authentication.

2. Complete the identity verification process.

3. All are correct.

6.

What should I do when the buyer sends me proof of payment via P2P chat, claiming they have paid?

1. Release crypto immediately.

2. Check my bank or e-wallet balance to see if the fiat has arrived and release the crypto-only after the payment has arrived.

3. Check my bank or e-wallet balance to see if the fiat has arrived and make sure the buyer’s verified name matches the sender’s name, then release crypto.

7.

What should I do if the counterparty asks me to provide my social account or phone number?

1. Send your contact information via chat.

2. Asks the counterparty to send their details instead.

3. Do not send. Insist on communicating through Binance P2P chat only.

8.

When should I click on “Transferred, notify seller”?

1. When I think I have sent the payment to the seller.

2. When I sent the payment to the seller and received proof of that payment from the payment processor.

3. The moment I open the trade.

9.

What should you NOT do when choosing a payment method to trade with?

1. Make sure it’s a payment method that you are familiar with.

2. Make sure the currency of the advert and payment method are compatible.

3. Make sure you are ready to pay before you open the trade.

4. Choose a payment method that does NOT give proof of payment after paying.

10.

What should I do to avoid falling victim to a “man in the middle” scam?

1. Avoid responding to trade requests on social media

2. Keep communication with the trading counterparty in the Binance P2P platform.

3. All are correct.

11.

What should I do to avoid falling victim to a “proof of payment” scam?

1. Always make sure to carefully check your bank account or crypto wallet to confirm you’ve indeed received the funds from your P2P trade.

2. Never release funds based on receipts only.

3. All are correct

12.

What should I NOT do to avoid a Triangle scam?

1. Accept all payment receipts or evidence as authentic.

2. Never share payment proof outside Binance.

3. Always make sure to check your bank account or wallet to confirm that you indeed have received all the money from all your pending P2P transactions.

13.

What should I do to avoid a chargeback scam?

1. Accept payments from unverified customers.

2. Accept payments from the buyer's relatives.

3. Make sure the payment that has been made by the buyer matches their verified name on Binance.

4. Agree to receive payments in multiple tranches.

Tips to answer this question under this article let's say question number 1 if the answer is two put 2

e.g 1: 2, 2:4, ... 10: 3