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 various payment methods. Binance provides escrow service for its P2P marketplace to streamline and secure the transactions.
How to buy cryptocurrency on the Binance P2P website?
Please make sure you have completed identity verification and enabled at least one two-factor authentication (2FA) device, such as Google Authenticator.
1. On the official Binance website, click [Trade] - [P2P].
You may use [Express] or [P2P] mode to trade.
1. Express Mode
1.1 Click [Express] to enter the Express trading mode. Select the crypto you want to buy or enter the amount you want to pay with. Let’s take buying USDT as an example. Click [Buy USDT].
The orders are matched based on the best crypto price available in the P2P markets.
1.2. Select your preferred payment method and click [Confirm Purchase].
2. P2P Mode
Alternatively, you can also choose [P2P] mode to trade, and manually select advertisements posted by users or merchants.
Let’s take buying USDT as an example.
2.1. Click [Buy], and choose the fiat currency you want to pay with. Select the cryptocurrency you want to purchase. Please pay attention to the available quantity and limit for each ad.
Then, select the seller you want to buy from, and click [Buy USDT] to place your order.
2.2. Enter the quantity or amount you want to purchase. Please read the seller’s terms and conditions carefully before placing the order.
2.3. Click [Buy USDT] to generate your order. By placing an order, the platform will immediately secure an equivalent amount of the seller's digital assets for the transaction.
2. If you want to cancel the order, click [Cancel Order]. Please note that “Buy Crypto” will be suspended for the day if you cancel three orders within a day. Select the reason for canceling and click [Confirm Cancelation].
3. After the payment process is completed, select [Transferred, Notify Seller] and the order status will be changed to [Releasing]. The platform, having secured the equivalent digital assets from the seller, waits for the seller to confirm your offline payment. You may use the chat box on the right side to chat with the seller directly.
4. If you do not receive the cryptocurrency within the designated release time frame, you can click [Appeal] to contact Binance Customer Support agents for assistance.
Important Note: You need to transfer the payment directly to the seller through a bank transfer or other third-party payment platforms based on the seller's payment information. If you have already transferred payment to the seller, do not click [Cancel] unless you have already received a refund from the seller in your payment account. Do not click [Transferred, Notify Seller] unless you have paid the seller.
5. Upon successful verification, the seller will release the crypto to you and the transaction is considered completed. You can click [View my balance] to view the assets.
Please note that you cannot place more than two ongoing orders at the same time. You must complete the existing order before placing a new order.