Last Updated: 7 October 2024
Important note: The rules outlined here apply to makers and non-CN merchants only.
To ensure a fair, secure, and reliable trading environment for users on the Binance P2P platform, all P2P merchants must adhere to the following principles:
General Principles
- Be honest, polite, and fair.
- Take responsibility for your ads. Ensure the accuracy of price and quantity before publishing.
- Always make payments, release tokens, and respond to users in a timely manner. Only accept payments through the methods you advertise and those available on Binance.
- Do not cancel orders arbitrarily and do not appeal maliciously. Contact users directly before filing an appeal.
- Please refrain from including “Binance”, names of local banks, payment method titles, or any sensitive terms in your nickname.
- Binance does not have official representatives on any social media platforms or messaging apps except for Telegram. Please be cautious if someone contacts you claiming to represent Binance.
- The Binance Telegram group solely serves as a one-way communication from the Binance P2P Team to contact merchants.
- Please refrain from seeking support from the Telegram group.
- For merchant support, please utilize Binance Chat instead of contacting the Binance P2P team via email at p2p@binance.com, as this email address does not support inquiries.
Important Note: The maker fee scheme is effective from 2021-07-01 00:00 UTC, while the taker fee scheme is effective from 2023-09-18 00:00 UTC.
- Under the new fee schemes, Binance P2P charges transaction fees to both makers (those who post trade advertisements) and takers (those who buy or sell cryptocurrencies by placing an order from existing advertisements on the P2P platform). The fee rates range from 0% to 0.35%, depending on fiat markets and trading pairs.
- Binance has also introduced a P2P Merchants VIP Program. All Binance P2P Verified Merchants are eligible to receive an exclusive 20% to 50% VIP discount on trading fees, determined by their monthly trading volume and completion rate.
- For exclusive Binance Merchant support, please get in touch with us via Binance Chat.
Trading Principles
Ⅰ. Payment and Receipt of Funds
1. Binance requires the account holder's personal or corporate name on your payment method to match the name used during identity verification on Binance. If your name does not match your ID or passport, please contact Binance Chat for assistance.
2. When receiving funds, if the counterparty’s bank account information does not match their verified name on the platform, do not release the crypto. Instead, you can refund the payment, and the counterparty should cover any fees charged by the payment method for the refund. Additionally, we strongly recommend reporting the order through Binance Chat (P2P Merchants - Report Scams).
3. When making a payment, merchants can cancel the order if the counterparty uses a non-authenticated account to receive the payment. We strongly recommend reporting that order to us through Binance Chat (P2P Merchants - Report Scams).
4. You are encouraged to ask for additional identity verification from the users. However, users have the right to refuse. If they refuse to provide further information, you are advised to terminate the trade by refunding the user, canceling the order directly, or asking the CS team to help cancel the order.
5. We discourage the use of payment methods that don’t display the payer's name to the counterparty, as this prevents verification of whether their name is consistent with the name on Binance. If disputes arise from using such payment methods, the payer should always be responsible for the loss.
Ⅱ. Asset Security
1. Merchants must not participate in any form of transactions involving illegal funds.
2. When a user complains that their bank card is frozen after receiving payment from a merchant, the merchant must cooperate actively with Binance to provide evidence. If the merchant’s bank account is frozen due to the counterparty’s fault, the merchant should contact local police immediately and ask the police to email the Binance Law Enforcement team directly.
Please reach out to us by sending a request to our Government Law Enforcement Request System via the official email address. Please attach the following documents in the email:
- The investigating officer's photo, name, email, and contact number;
- An official document of assistance with an official seal;
- A letter that specifies what information Binance needs to provide to cooperate with the investigation. For example, providing the counterparty’s account information, address, real name, phone number, etc. Binance will fully comply with law enforcement upon receiving the documents mentioned above.
3. If a merchant brought illegal digital assets or illegal funds into Binance, resulting in legal risks and the loss of assets for Binance and its users, Binance reserves the right to disqualify the merchant, ban all their activities, and confiscate the security deposit.
Ⅲ. Operating Rules
1. Please read the Merchant Portal Tutorial carefully before trading.
2. You are not encouraged to trade with users outside the Binance P2P platform. If you trade with users privately, Binance will not bear any responsibility for any losses. You should not include any personal contact information (social networks, messengers) in the ads, trading conditions, or auto-replies.
3. After completing the payment, you should contact the counterparty directly if they do not release the tokens after 15 minutes. If there is no response, click [Appeal] and wait patiently for the Binance P2P agent to contact you.
4. You must not make a small transfer to the user's bank account for testing purposes without their consent.
5. You can only post three online ads of the same order type (buy/sell) and the same crypto-fiat pair.
Order Type (Buy/Sell) | USDT | BTC | ETH | BNB | USDC | Other Crypto Pairs |
Max. Number of Orders per Fiat Currency | 3 | 3 | 3 | 3 | 3 | 3 |
5.1 General Rule for Posting Ads:
For all fiat markets (except EUR, USD, and LATAM fiat markets):
- You can only post one online ad in the same direction (buy/sell) for the same crypto-fiat pair.
- If the price, total order amount, or order limit of the second ad is the same as the first ad, your ads will be closed.
5.1.1 Specific Rule for Non-EUR, Non-USD, and Non-LATAM Fiat Markets:
For all fiat markets (except EUR, USD, VND, THB, PHP, IDR, LAK, KHR, MNT, MMK, BND, and TWD):
- If you want to post three online ads in the same direction (buy/sell) for the same crypto-fiat pair, the price difference between the ads should be ≥ 0.5%.
5.1.2 Specific Rule for USD:
If you want to post more than one online ad in the same direction (buy/sell) for the same crypto-fiat pair, the price difference between the ads should be ≥ 0.1%.
5.1.3 Specific Rule for LATAM Fiat Markets:
For all LATAM fiat markets (ARS, BOB, BRL, CAD, CLP, COP, CRC, DOP, GTQ, HNL, MXN, NIO, PAB, PEN, PYG, UYU, VES, BZD, JMD, TTD, BSD, and HTG):
- You can post up to three online ads in the same direction (3 buy/3 sell) for the same crypto-fiat pair.
- For ads posted with a fixed price, the price difference between ads in the same direction must be ≥ 0.1%.
- For ads posted with a floating price, the same floating price setting for ads in the same direction will not be allowed.
For example:
Buy Ads
A merchant posts 2 USDC/USD buy ads:
- Ad A price: 1/0.98, payment method: Bank A
- Ad B price: 1/0.98, payment method: Bank B
As the prices of Ad A and B are the same, the ads will be closed, and the merchant will receive a warning.
A merchant posts 2 USDC/USD buy ads:
- Ad A price: 1/0.98, payment method: Bank A
- Ad B price: 1/0.99, payment method: Bank B
As the prices of the ads are different, the merchant didn’t violate any guidelines.
Sell Ads
A merchant posts 2 USDC/USD sell ads:
- Ad A price: 1/1.00, payment method: Bank A
- Ad B price: 1/1.00, payment method: Bank B
As the prices of Ad A and B are the same, the ads will be closed, and the merchant will receive a warning.
A merchant posts 2 USDC/USD sell ads:
- Ad A price: 1/1.00, payment method: Bank A
- Ad B price: 1/1.01, payment method: Bank B
As the prices of the ads are different, the merchant didn’t violate any guidelines.
6. Posting links to third-party resources, especially those leading to other exchanges, P2P, or OTC platforms, is prohibited in the “remarks” or “auto-reply” sections.
7. We may hide or close your ad without prior notice if you violate the Merchant Guidelines. For more information, please refer to Why Is My Binance P2P Ad Hidden.
IV. Updated Merchant Deposit Criteria for Specific Fiat Zones
Please note that there is a mandatory deposit requirement per Fiat Zone for advertising eligibility. If your total deposit balance falls below the required amount for these fiat zones, your advertising access may be limited. To maintain full advertising access, ensure your deposit meets the deposit requirement. For more details, please refer to P2P Merchant Portal.
V. Mandatory Verification Filter Activation for P2P Merchants in Specific Fiat Currencies
P2P merchants (including P2Pro, Block) requiring verification from their counterparties in INR, AED, ALL, BAM, BGN, CHF, CZK, DKK, GBP, HUF, ISK, NOK, RON, RSD, SEK, EUR, MKD are required to activate [Require additional documents] filter in their ads. To activate, go to your ad settings and select the [Require additional documents] filter or refer to Frequently Asked Questions on Binance P2P Additional Verification for Ads.
Note: If you don't use this filter in your ads (with the mentioned fiats) but require verification, your ad will be closed. Repeated violations may lead to trading suspension or disqualification.
VI. Disqualification
You may be disqualified if one of the following conditions exists:
1. You do not cooperate with our customer support team when processing the appeal order.
2. You charge any form of extra fees or commissions from users.
3. You contact the user to carry out transactions outside the Binance platform.
4. You leak the user's name, contact information, address, and other related information.
5. You spread false information that affects Binance.
6. You gain an advantage through unfair competition.
7. You use more than one merchant account to take advantage of trading or block assets of other merchants.
8. You receive a large number of negative feedback from other users.
9. You use foul and offensive language on the platform. This includes, but is not limited to, the tools permitting messaging with other users, customer support live chat, and the order comment section.
10. You engage in any type of price or market manipulation activities.
Types of Violation | Behavior | 1st Violation | 2+ Violations |
Payment and receipt of funds | The merchant uses an account that is inconsistent with their Binance account's verified name, but the merchant does not refund the user and the user appeals | Warning | Disqualification |
The bank account provided by the merchant is abnormal and the merchant failed to provide an effective payment method in a timely manner, which caused the user cannot complete the payment and appeals | Warning | Disqualification | |
The merchant clicks [Transferred, Notify Seller] before completing the payment and the user appeals | Warning | Disqualification | |
The merchant makes payments using accounts that are inconsistent with their verified personal or corporate name on Binance and the user appeals | Trading banned for 1 week | Disqualification | |
Types of Violation | Behavior | Results | |
Failed to meet the required assessment metrics | The average release time and payment time have been below average over the past 30 days | Possible disqualification | |
The order completion rate has been below average for the past 30 days | Possible disqualification | ||
Appeal Rate ≥ 3% (appeal rate = the number of complaints / total number of matched orders) | 14 day P2P activity suspension or possible disqualification | ||
Valid Complaint Rate ≥ 1% (Valid Complaint Rate = the number of appeal cases with Respondent Responsibility / total number of matched orders) | 14 day P2P activity suspension or possible disqualification | ||
The merchant did not complete any orders in two consecutive weeks | Disqualification | ||
| The merchant is unresponsive to appeals ≥ 2 times per week | Possible disqualification | ||
| The merchant requested the user to complete identity verification without enabling the “Additional Verification“ tag in the ad | All violated ads will be closed and all P2P activity will be suspended up to 14 days, or possible disqualification | ||
| The merchant received a large number of negative feedback from other users | Possible disqualification | ||
Types of Violation | Behavior | Results | |
Risk control triggered | Binance verified that the user’s bank card was frozen due to the payment made by the merchant, and the merchant failed to provide a bank statement within the given timeframe | Ads will be removed and all trading activities will be banned until the investigation is complete | |
The risk control system detects an abnormality, and the merchant refuses or does not actively cooperate with Binance for investigation | Disqualification | ||
The risk control system detects that the merchant uses other accounts to wash trades and block other merchants’ ads intentionally | Disqualification | ||
Merchant engaged in price or market manipulation activities | Disqualification | ||
VII. Withholding Merchant Deposit
Please note that in some major violation cases, Binance P2P may withhold the merchant deposit. Therefore, it is important for you to respect and adhere to the Binance P2P Merchant Guidelines. For more details, please visit Supplementary Clauses to Advertiser Management Regulations on Security Deposit Assets.