What is Binance p2p? How to do P2P trading on Binance
Binance P2P is one of the most trusted cryptocurrency trading platforms today, not only because of its reputation, but users can make transactions here quickly. Binance P2P belongs to the platform of the Cryptobnb website , so why it is chosen by so many people, let's immediately discover information about it right below.
Basic information about Binance P2P
Definition of Binance P2P
Binance P2P is written in full as Binance Peer to Peer, this is a type of transaction where buyers and sellers are in an equal position with each other, where it does not happen that the buyer or the seller has the upper hand. This exchange specializes in the exchange and sale of cryptocurrencies that take place directly between buyers and sellers, while Binance only plays a central role, ensuring the safety of buyers and sellers in the process. conduct transaction.
What coins does the Binance P2P exchange support and which banks do payments through?
Currently, the Binance P2P exchange only supports trading for the following basic cryptocurrencies: Bitcoin (BTC), EOS, Ethereum (ETH), Binance Coin (BNB) and Binance USD (BUSD). Although only supporting these 6 currencies, Binance P2P is still the exchange of choice for many people in TradersViet and Binance P2P is constantly evolving to be able to support more coins to serve the needs of customers. row. To be able to buy the above coins, you can use currencies such as VND, YEN, RUB ...
Some coins are traded at P2P
You can pay for any P2P transactions with bank accounts in Vietnam because Binance P2P supports all these banks. However, a limitation that so far Binance P2P has not been able to overcome is that it only allows customers to pay up to 15 minutes, a fairly short time. Therefore, in order to pay promptly and without wasting much time, you should use internet banking of your bank or mobile banking to pay quickly. Some of the most used banks on Binance P2P are Vietinbank, Vietcombank, BIDV…
What are the advantages of trading on Binance P2P?
When trading on Binance P2P you can directly buy / sell right here without having to go through any other channels, so there will be some advantages for you as follows:
- Thanks to the security of Binance P2P, you can rest assured when making transactions
- without any intermediary channels, so the price is quite cheap, the price is equivalent to the famous Remitano exchange and does not have to spend too many intermediary fees
- After buying coins, cryptocurrencies, you can immediately perform transactions with other Altcoins .
How to Register for a Binance P2P Account
Quickly register an account at P2P
To create a Binance P2P account, follow these steps:
Step 1 : You need to go to the website https://www.binance.com/
Step 2 : Enter personal information such as Email, Email password and click I agree… and select create account.
Instructions for entering P2P registration information
Note: Password needs at least 8 characters including at least 1 uppercase letter and 1 number.
Step 3: At this point, the Binance P2P system will send a verification code to your email to activate the registered mail. Please enter the correct code and the system will automatically record it.
In some cases, the system will force you to confirm "I'm not a robot", so you can continue.
Step 4 : With the above steps, you have successfully registered a P2P account and now go back to the homepage and log in to your account.
How to login and P2P exchange
Step 5: Once you have logged in to your account Binance P2P will proceed to secure your account with 5 questions you can proceed with or click the prompt me button later.
Some ways to buy coins on Binance P2P
You will have 2 ways to buy coins on TradersViet's Binance P2P: by phone and by bank account. The steps are as follows:
Use the app on your phone to buy coins
The steps to buy coins on the phone are as follows:
Step 1 : You need to download the Binance app to your phone and log in to your account.
Step 2 : You click on Trades and choose P2P. The list of coins that P2P supports trading will be displayed here and you choose the coin that suits you and select USDT, next choose where you want to buy and click BUY USDT.
Instructions on how to buy coins at Binance P2P
Step 3 : Enter the amount you want to buy coins, in case if you want to buy all the seller's coins, click BUY ALL and click BUY USDT.
Step 4 : Now you will proceed to pay the amount you just entered to buy coins by logging into your internet banking or mobile banking and entering information about the recipient's account number, bank name, amount payment, transaction content (this part you will enter the Order Number). And finally, click Mark as Paid and select Confirm.
Enter information and confirm payment
Step 5 : Select Contact to view detailed information about the order you just purchased and wait for the order to be processed.
Step 6 : While waiting for the transaction to be processed, you can send a message and information about the money transfer to the recipient.
Step 7 : Binance will send you a text message to confirm the order was successful. Go to Fait to check the amount of USDT you just bought.
Step 8 : To be able to trade the USDT you just bought, please transfer the coins in the Fait wallet in the morning.
How to transfer money to trading wallet at P2P
Buy coins with a bank account
Buy coins through your bank account without waiting too long
Step 1 : After you have logged into your account, you will see a menu at the top of the screen for you to choose from and now click on the transaction and select P2P
Step 2 : At this point, a list of 6 coins that Binance P2P supports will appear at the top of the screen and select the coin you want to buy and click buy USDT.
Step 3 : In the "I want to pay" section, enter the amount you want to spend to make the transaction. After you enter the amount, the system will automatically calculate and update the amount of USDT you receive according to the amount you bought. At the payment method section, choose bank transfer and click buy USDT.
Enter the amount you want to pay to buy coins
Step 4 : Now the information about the seller's bank account will be displayed and you will transfer the transaction money to the seller, the steps are similar to buying coins by phone. And finally, click Transferred and select Next.
You need to note that you only have 15 minutes to make the payment, so please enter the correct and all necessary information to avoid wasting time.
With the above simple steps, you can buy coins on Binance P2P already.
How to pay when trading on Binance P2P?
To be able to pay for transactions on Binance P2P, you need to set up a payment method in the following 6 steps:
Step 1: First, you need to enter all the information to log in to your account.
Step 2: After you have logged into your account, you will need to find and select the overview. In the right corner of your image, you will see a humanoid icon, which contains information related to you and you will see an overview here.
Step 3: After selecting the overview item, you will select the payment item on the left side of the screen and click on the additional method you want to choose to pay.
Step 4: Your payment method will be payment via bank account, now you need to enter all the information about your account number, bank name, branch of the bank you want to use and then then click on confirm button.
Step 5: After clicking confirm, the system will notify you that you have successfully added a payment method so you can be sure that you have done the correct operations on payment information.
Step 6: You will now have two options: return to payment and go to transaction. And click on return to payment, then click Enabled to activate the account you just registered.
Transaction is successful and waiting for unlock
The interface of Binance on the website will be changed in a certain period of time, so sometimes the steps are a little different but in general it is still the same.
The special thing is that when you make transactions on Binance P2P whether it is buying or selling cryptocurrencies, you will not be charged any fees, you will be able to perform transactions free of charge. fee.
Some things to keep in mind when using Binance P2P
What to keep in mind when trading at P2P
- If you want to sell coins, to be safe, you should only unlock the coin when you have received the buyer's money transfer.
- You have the right to submit a feedback or complaint if you have not received your payment but the buyer has confirmed payment for you.
- You are a coin buyer, when transferring the payment, the content only records information related to the coin and transaction content, but does not write any other marginal information. If irrelevant information appears, your account may be frozen or blocked from paying for this transaction.
- In a day, you should not cancel more than 3 times, if you cancel too many times, your transaction in that day will be blocked.
How to trade securely on P2P?
Make secure transactions at P2P
To ensure safety when trading on TradersViet's Binance P2P, you need to ensure the following factors:
- Identity verification: only when you verify your identity can you make transactions on Binance P2P, to avoid scams, you will not be able to make any transactions without confirming your identity.
- Escrow service: This is a P2P service provided to secure assets for customers.
- 24/7 support: you can send feedback here if you have transferred the money to buy the coin but the seller has not unlocked the coin, now the support department will solve it for you once the information has been verified. At the same time, the seller can also respond when the money has not been received but the buyer has confirmed the payment for you. This is the place to help answer questions, solve problems for customers.
With the above article, we have provided some information related to TradersViet's Binance P2P. Hopefully, the above information will help you choose a place to trade quickly, reputable, safe and effective.
