A little intro to Binance
Binance Is a cryptocurrency wallet. As of April 2021, Binance was the largest cryptocurrency exchange in the world in terms of trading volume. Binance was founded by Changpeng Zhao. Binance is more than an exchange. It also has an Academy, Broker, Charity and more.
What is (P2P) Peer-to-peer trading ?
Cryptocurrency trading can be done in a variety of ways. For spot trading, you can go to a centralized or decentralized exchange, or trade directly with other crypto holders and swap your assets from person to person.
Peer-to-peer (P2P) trading is the term for this scenario. In the beginning, there were few ways to buy and trade cryptocurrency. This drove users to meet up with others in person or through online communities to trade their digital assets for a variety of other things. Despite the introduction of numerous large cryptocurrency exchanges, some traders continue to use peer-to-peer trading despite the risks involved with this kind of deal. The risk of getting scammed is too high. So, make sure you choose a trustworthy Person.
Binance p2p trading: How to Use It ?
You must first register on Binance before you can make your first trade on the Binance P2P trading platform. Complete the Know Your Customer (KYC) process, enable two-factor authentication, and select your preferred payment method. Binance is able to provide a layer of security for all of your P2P trades by validating all P2P traders.
When you're ready, go to the top navigation and select "P2P Trading." Choose the cryptocurrency you want to buy from the P2P trading page. Select an ad, then click "Buy" after filtering the price and payment options in the drop-down box.
Confirm the transaction information and complete the transaction. The transaction is complete after the seller releases the bitcoin you purchased, and you can transfer the bitcoin/bitcoin cash to your spot wallet.
Don't worry if you haven't received your Bitcoin within 15 minutes; simply click "Appeal" and customer support will assist you in finalizing the transaction.
Why P2P is better than Credit Card Payment?
Imagine saving more than 1minute time per transaction is a huge help in many mini businesses. Meaning if you have 60 transaction per day you save 1hour not that bad for busy workplace. Its very suitable in busy place like restaurant, grocery store and gas stations. And in P2P your identity is safe and no more hustle to get your card or cash.
Features that make “bitcoincash a global p2p” !!!
Uncensorable
Secure/Reliable
Low cost
Fast
Final Words
One of the biggest advantages of Binance P2P besides the reduction of risks is the total absence of fees. While many P2P trading platforms get a share out of your trades, you don’t have to worry about that when it comes to Binance P2P trading. The P2P trading fees are zero.
If you haven't signed up for Binance yet, you can do so using my referral link and the invitation code 160317124 . It will save you trading fees every time you trade on Binance if you utilize it. When you introduce a friend to cryptocurrencies, keep this possibility in mind because it will save both of you money.
How's the article? Do you Understand P2P Trading Now ?