Crypto exchanges aren’t the only way to buy Bitcoin and other cryptocurrencies. Find out why peer-to-peer marketplaces like Binance P2P provide the best method to buy crypto.
Main Takeaways
P2P marketplaces like Binance P2P enable users to trade crypto directly with one another using their preferred payment method and local currency.
Binance P2P offers more than 700 different payment methods and more than 100 local currencies.
In this article, we’ve provided ten reasons why P2P marketplaces like Binance P2P are the best way to buy crypto.
Peer-to-peer (P2P) marketplaces and traditional crypto exchanges are both platforms that allow users to swap their Bitcoin and other cryptocurrencies for a preferred currency. While the two platforms offer similar services, the trading experiences have fundamental differences. Your traditional crypto exchange uses an automated engine to complete buy and sell transactions. However, P2P marketplaces like Binance P2P enable users to trade crypto directly with one another using their preferred payment method and local currency.
In this article, we provide ten reasons to use P2P marketplaces like Binance P2P, which provides more control and precision over your crypto-to-fiat conversions and vice-versa.
1. Live Trade Chat
Chat with your trading counterparty before you complete any transaction. Clarify payment requirements, follow up with delayed transactions or get to know who you’re trading with. For more information, you can read our helpful tips for using Binance P2P chat.
2. Personalize Your Offers: Ad Posting
Through our ad posting feature, buyers and sellers can personalize their offers according to their preferred price, payment method and local currency. Create strong ad postings and provide suitable trading terms for crypto users around the world.
3. Security: Escrow Service
P2P trading is more convenient than your traditional crypto exchange, but trading with other users also comes with its own set of risks. At Binance P2P, we provide an escrow service that ensures safe and fair trading. Once a buyer completes their order, we handle the seller’s cryptocurrency in a temporary deposit until both parties confirm the transaction is successful.
4. Customer Support
If you encounter a problem with your P2P trading counterparty, you can quickly seek assistance from Binance’s customer support team, who will contact you via email. Our customer service team will come in to mediate between both parties and solve the issue. You can read this article to learn more about the appeal process.
5. More Ways to Pay
Binance P2P offers more than 300 different payment methods on, including local bank transfer, SEPA Transfer, International transfer, online wallet, cash and more.
6. Local and Global Marketplace
Whereas many other P2P platforms target specific markets, Binance P2P provides a truly global trading experience with support for more than 70 local currencies. Despite our international emphasis, we also strive to meet the needs of local markets via multi-language customer support and support for regional payment providers.
7. External Restrictions
Regulatory restrictions have historically intervened with traditional crypto exchanges. Transactions are facilitated interpersonally on P2P marketplaces, which means users are not affected by these restrictions.
8. Fast Transaction Speeds
P2P transactions can last from 20 minutes to one to three working days, depending on the payment method you use. Typically, online wallet transactions are quick and easy; however, some local banks may take one day to process the transfer, and in the case of International Swift transfers, you may need to wait up to three days.
9. Flexible amount
Start small with $3 worth of crypto or make a large block trade. If you’re looking to make a large crypto order, you can find experienced block traders on Binance P2P to buy or sell your crypto.
Ready to buy crypto? Get started with Binance P2P!
Create a Binance.com account or download the Binance crypto trading app, and then verify your account. Once your account is successfully verified, you can start your crypto journey with low fees on Binance P2P.
Further Reading
FAQs
The network can handle higher loads and accommodate more users without relying on a centralized infrastructure that may become a bottleneck. The decentralized nature of P2P networks allows for distributed processing and storage, enabling them to scale horizontally by adding more peers.
Why is P2P better? ›
The network can handle higher loads and accommodate more users without relying on a centralized infrastructure that may become a bottleneck. The decentralized nature of P2P networks allows for distributed processing and storage, enabling them to scale horizontally by adding more peers.
How to make $100 a day on Binance? ›
🤑🤑Making $100 Daily on Binance Made Easy! 🤑🤑
- Step 1: Get Started on Binance. ...
- Step 2: Choose the Right Coins. ...
- Step 3: Develop a Trading Strategy. ...
- Step 4: Start with a Small Investment. ...
- Step 5: Practice Risk Management. ...
- Step 6: Stay Informed and Adapt. ...
- Step 7: Learn from Experience. ...
- Step 8: Patience and Persistence.
A P2P exchange gives traders the freedom to choose the other traders they want to trade with, unlike centralized or decentralized exchanges. By using these services, you may look through a seller's list and pick the one that offers the best payment option without giving up control of your assets.
Why people buy USDT P2P? ›
Tether bridges the gap between crypto and fiat currencies. USDT has been used for more than half of Bitcoin trading as of early 2021. USDT can be used to trade for crypto as part of a short or long-term trading strategy. USDT can also earn interest when used on staking and lending products.
What are the pros and cons of P2P? ›
Peer-to-peer networks are easy to set up, require minimal hardware and software, and allow users to control their own data and resources. However, they also have some drawbacks, such as limited performance, reliability, and security.
What are the pros and cons of P2P network? ›
The main advantages of P2P include reducing the load and cost of servers, increasing the availability and reliability of resources, and enhancing the privacy and anonymity of nodes. However, P2P can also be difficult to manage and secure due to varying capabilities, configurations, and trust levels among nodes.
How to make $100 a day? ›
In conclusion, making an extra $100 a day is possible with some effort and creativity. You can start a blog, do freelance writing, complete online surveys, sell products online, drive for Uber or Lyft, rent out your home or space, sell photos online, or become a virtual assistant.
How to make daily profit in Binance? ›
Trading: This is the most common way to earn money on Binance, and it involves buying and selling cryptocurrencies to profit from changes in their prices. Trading can be risky, but it can also be very profitable if done correctly. Staking: Staking is a way to earn passive income with your cryptocurrencies.
How do you get 1% every day in crypto? ›
Is Making 1% a Day Realistic in Crypto? 7 Tips to Maximize Your Profit
- Be Realistic. ...
- Learn Technical and Fundamental Analysis. ...
- Choose the Best Trading Strategy for You. ...
- You Need to Learn No-Stop. ...
- Emotional Control. ...
- Portfolio Diversification. ...
- Researching the Right Coins to Invest In.
Best P2P Crypto Exchanges: Full Reviews
- OKX – Overall Best Peer-to-Peer Exchange. ...
- Coinbase – Leading Global Crypto Exchange With A Self-Custodial Wallet For P2P Trading. ...
- Binance – Highly Liquid Peer to Peer Bitcoin Exchange With Over 100 Payment Methods Supported. ...
- KuCoin – Popular P2P Exchange for the Emerging Markets.
Convenient, fast, and easy, P2P payments allow individuals to send and receive funds in minutes among friends, family, acquaintances, and even for goods and services. This method bypasses the need for cash or physical cards, making it easy to split bills, send gifts, or repay money.
How do you make money from P2P crypto? ›
Here are some tips on how to make more profit on Binance P2P:
- Set competitive prices. When you post a buy or sell ad, make sure to set a competitive price. ...
- Offer multiple payment methods. ...
- Complete trades quickly and efficiently. ...
- Take advantage of price fluctuations. ...
- Use a trading bot.
In conclusion, P2P trading across exchanges presents a lucrative opportunity for individuals looking to maximize their profits in the cryptocurrency market.
Why should I convert my BTC to USDT? ›
USDT allows a large number of exchanges to allow you to sell BTC and hold in something that looks like USD. Without USDT a number of exchanges won't see anywhere near the volume they get. By enabling a larger volume, USDT is indirectly helping inflate BTC (and other currencies) price.
Can I sell USDT without P2P? ›
You may find multiple ways of selling USDT. However, the fastest way to do this is via a cryptocurrency exchange. CEX.IO is a secure and reputable platform available 24/7/365, so you may do any procedure when you need it. The platform offers multiple trading options, crypto staking, savings account, loans, etc.
Why P2P is better than banks? ›
Lower Interest Rates: P2P loans usually have lower interest rates than bank loans. This is because there is no middleman involved in the process, and hence the costs are lower. 2. Greater Flexibility: P2P loans offer greater flexibility than bank loans.
Why is peer-to-peer better than client-server? ›
In summary, peer to peer systems are naturally fault-tolerant and more available than client-server systems. Client-server systems can be made highly available only with great cost and additional complexity.
