Learn the right and best way to trade on Binance P2P (Peer to Peer) system without getting scammed or losing your funds to online scammers or online funds restrictions. P2P is one of the oldest and best ways of trading any cryptocurrency by exchanging transactions.
Following the recent ban on cryptocurrency in Nigeria, Binance has been the best and safest wallet to trade cryptocurrency in Nigeria either by buying or selling and also trading to make more profits in the crypto market.
One of the best and most popular features of Binance is the P2p TRADING parts which allow users to exchange tokens for money or others tokens directly from the app users to users.
What’s Binance P2P?
Binance P2P is a trading feature in the app that allows you to buy and sell cryptoCurrency directly from registered and verified users from Binance. This process is also known as the Escrow method where Binance will be the Escrow trader and make sure all trade is done successfully without scam or any errors from both sellers and buyers.
By Trading with Binance P2P you can rest assured of scammed free and easy trading without issues because before you can be able to trade on the Binance app you need to have gone through some core verification process that requires all your document details.
Benefits Of Using Binance P2P Trading
- Secured Trading Exchange
- Negotiable Buying Price
- Local Funds Exchange & Transfer
- Token Exchange & Swap
- Secured Transaction
- Buying and Selling of different Coins
- Check and verify sellers & buyer rating
- Review sellers and buyers recent transaction history
How to buy & sell on Binance P2P mobile app
Full details and tutorial on how to trade on Binance P2P cryptoCurrency trading easily without getting scammed or losing your funds online. Trade from verified users to users by using Binance Escrow service which is P2P.
- Login or register on Binance app
- Make sure your identity is been verified both Kyc and SMS verification
- If your verification is done you can proceed to next step below
- Open binance any crypto currency in the below list of coins shown to you
- Click buy or sell anyone you want to do
- From the tab selection at the top click on P2P
- Now you will see list of users with different price that want to sell what you want to buy
- Select any one you preferred the price or ratings and reviews
- Then you can proceed to next steps of making payment.
How to buy and sell CryptoCurrency on Binance P2P without getting scam
To avoid the case of getting scammed on Binance P2P it’s highly recommended to follow the below steps and guidelines for ways you can avoid such mistakes.
1. Check Ratings
Always check the rating of the user you want to trade it with before proceeding to deal with such a trader. For example, a user with a 100% rating is highly recommended to trade with and better than users with an 80% or 70% rating.
2. Check Reviews
Confirm and check reviews of what people say about a trader old transactions done on Binance. This is one of the best ways to detect a user is a scammer or not on Binance.
Check and confirm for a user verification badge to knowns if the user you choose to trade with is verified or not before beginning or proceeding to trade.
4. Delivery Time
Verify when a trader will deliver and process your order. A P2P order shouldn’t take more than 30mins before it finishes execution and both users are settled with each other’s trades.