To navigate the Binance P2P platform efficiently, it’s worth getting familiar with some of the key terms:
Funding Wallet: Binance accounts have different types of wallets for different trading purposes. The Funding Wallet is a dedicated wallet for P2P trading, where cryptocurrencies obtained from P2P transactions are stored.
Ad: A user-generated offer detailing their price and trading requirements, such as asset type, payment methods, and other terms.
Order Limit: The specified range of minimum and maximum amounts for buying or selling assets in a particular ad.
Order Limit: The specified range of minimum and maximum amounts for buying or selling assets in a particular ad.
Average release time: The average duration within which a seller releases cryptocurrency after receiving payment. You can check a user’s Avg Release Time by clicking on their nickname or Ad.
Pay time: The deadline for buyers to complete payments.
30d Trades: The total number of completed trades in the past 30 days.
30d Completion Rate: The ratio of completed orders to canceled orders in the last 30 days.
You can check the 30d Trades and 30d Completion Rate by visiting a user’s profile page.
Appeal: A mechanism for resolving disputes between buyers and sellers with the help of Binance customer support.
Maker: A user who creates P2P advertisements on the platform.
Taker: A user who executes trades using existing P2P advertisements.
P2P Merchant: Users providing liquidity and payment solutions on the platform
Advantages of Binance P2P
Binance P2P offers a myriad of benefits, including:
Escrow service: Secure holding of cryptocurrencies during transactions, mitigating risks of theft and fraud.
Diverse payment methods: 800+ payment methods and 100+ fiat currencies supported, ensuring accessibility for users worldwide.
Swift transactions: Reduced waiting times, with transactions completed in as little as 15 minutes.
Price control: trade crypto with the freedom to choose your seller or set your own price.
24/7 Customer Support: Comprehensive assistance in multiple languages, ensuring a seamless trading experience. #P2PTrading #p2ptransactions #CryptoMarketMoves #MarketDownturn #LowestCPI2021 $BTC $ETH $BNB
