Here are the steps on how to make P2P trading on Binance:
Create a Binance account and verify your identity.
Before you can start trading on Binance P2P, you need to create an account and verify your identity. This is a mandatory step to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.
Set up your preferred payment method.
Binance P2P supports a wide range of payment methods, including bank transfers, online payment services, and cash deposits. Choose the payment method that is most convenient for you.
Browse for ads.
Once you have set up your payment method, you can start browsing for ads. You can filter ads by payment method, cryptocurrency, and price.
Initiate a trade.
Once you have found an ad that you want to trade with, click on the "Buy" or "Sell" button. This will initiate a trade request.
Complete the payment.
The seller will then provide you with their payment details. Complete the payment and notify the seller.
Release the cryptocurrency.
Once the seller has confirmed the payment, they will release the cryptocurrency to your Binance P2P wallet.
Confirm receipt of cryptocurrency.
Once you have received the cryptocurrency, confirm receipt of the funds. The trade is now complete.
Here are some additional tips for making P2P trading on Binance:
Do your research. Before initiating a trade, take some time to research the seller. Read their reviews and check their trading history.
Communicate with the seller. It is important to communicate with the seller throughout the trade process. This will help to avoid any misunderstandings.
Be patient. P2P trading can sometimes take a little longer than trading on a centralized exchange. Be patient and wait for the seller to confirm your payment.
Use a reputable exchange. Binance is a reputable exchange with a good track record. You can feel confident that your funds are safe when trading on Binance P2P.
