Last updated: 24 April 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 700+ payment methods. Binance provides escrow service for its P2P marketplace to streamline and secure the transactions.
1. Log in to your Binance App and tap [Deposit] on the app homepage, then select [P2P Trading].
2. You can use the Express or P2P zone to trade with other users. Switch zones by clicking the zone name at the top of the page.
2.1 P2P Zone
Let’s take buying USDT as an example:
1. Select the seller you want to buy from. You can filter by trading amount and payment method. Tap [Buy].
2. Enter the amount of USDT to purchase.
3. Read the seller’s terms and conditions before placing an order.
4. Tap [Buy USDT].
Once you place the order, the platform will immediately secure an equivalent amount of the seller’s assets to secure the transaction.
To cancel your order before it gets filled, tap [Cancel Order]. Select the reason for the cancellation and tap [Confirm Cancellation]. Please note that if you cancel three orders in a day, your buy crypto function will be suspended for that day.
To proceed with the payment tap [View Payment Details]. The system won’t release the assets of any party before they both confirm the transaction.
After the payment process is completed, select [Transferred, Notify Seller]. This will change the order status to [Releasing]. Please wait for the seller to confirm your offline payment. They will release the crypto after verifying your payment. You can then find the purchased crypto in your Funding Wallet.
2.2 Express Zone
[Express] trading mode matches buyers and sellers based on the best available price.
Let’s take buying USDT as an example:
1. Choose your preferred fiat currency.
2. Tap [Buy].
3. Select USDT and enter the amount.
4. Choose a payment method.
5. Tap [Buy USDT].
Important Note: You need to transfer the payment directly to the seller through a bank transfer or another third-party payment method based on the seller's payment information. If you have already transferred payment to the seller, do not tap [Cancel] unless you have already received a refund from the seller in your payment account. Do not tap [Transferred, Notify seller] or [Confirm Payment] unless you have paid the seller.