Let me explain how to sell your crypto on P2P in Binance.
Peer-to-peer (P2P) features already exist in many other platforms but in binance exchange then beginners should know the eligibility criteria that P2P services can use:
- Make sure the Merchant has a yellow tick, meaning that it has done kyc and other verifications.
- Set exchange rates that have exchange support in your local currency
- Pay attention to the minimum and maximum amount for trading
- Choose a payment method, make sure it supports the withdrawal you want.
Binance P2P recommends that you pay attention to user profiles and activity details for analysis of users offering P2P services:
- Security deposit, essentially an escrow fund, ensuring no cheating or wash trading. With this deposit, users don’t need to worry about suffering fiat or crypto assets loss.
- Total orders, the full number of transactions made
- 30d orders, number of transactions completed in the last 30 days
- 30d completion rate, percentage of transactions that he has started and completed successfully in the last 30 days
- Avg release time, how long does it usually take for the seller to release the crypto
- Online ads, the offers to buy and sell that the user has online
It is very important to advise users to recognize the criteria for fraud in P2P services, Binance has provided an article to understand
How to Prevent Common Fraud Activities