How can I trade on P2P On Binance exchange?

[CryptopreneurBrainboss]

Binance exchange isn't the best exchange in the world, it might be the most popular exchange but that doesn't make it the best. They're not the best in security...

I know your long running battle with CZ. Don't worry, I will work out a quiet dinner between you two to end this silent feud 😏

I'll actually love that (if it can happen so I can lecture him on some things he need to be doing right). The industry isn't a centralized one and although we'll always have centralized service operating here but, they don't have to monopolized the industry. Cz is obsessed with power, buying wallets, smaller exchanges, ranking platforms and shutting down other centralized exchange (FTX) all for his own benefits. He's bringing everything I hate with the centralized system of the few wanting all the power into the decentralized world. He needs to stop before the industry losses its all decentralization. People like CZ are bad businesses to the industry and if we support him, we might have nothing left. I appreciate his contributions to the growth of the industry but that's all.

Bisq isn't phone friendly. You only get to enjoy using it on desktop/PC while a mobile phone can only be used just for monitoring trades but you can't get registered with it. So, what's the use? We all don't have PCs.

You'll need a laptop because that's also one of the best ways of storing your Bitcoin, using mobile isn't the best. Don't sacrifice your privacy for comfortability. As beginners you can be excused to use some of the centralized services but as you mature and make some profits from the market, you should get yourself a laptop so you can get full access to the decentralization of the industry. If you stay with just mobile that means you'll be using your mobile as your wallet too and that's not safe.

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[Patrol69]

The exchange with which you want to do P2P transactions must be secured first. Assuming you will be doing P2P transactions using Binance Exchange, first you need to verify your Gmail, verify your phone number and verify your Google authentication. After verifying everything, go to the P2P section and add the method or mobile banking number you want to receive money to your account. After successfully adding your account number to your exchange, go to buy or sell option as per your wish and your P2P transaction is complete. To avoid fraud check your balance after selling your specific currency and then release your currency.

[AakZaki]

It is not best for P2P trades especially, where we can find lot of scams like fake payment proofs, funds transferred from hacked accounts and a lot others so who ever using p2p exchanges for crypto to fiat trades should be very careful while choosing the trading partner irrespective of the platform cause we are going to deal with another individual so we may have to share sensitive personal information with them if needed and that person is collecting those data with bad intention then we will have issues.

Here is an article explains about Common Scams on Binance P2P|Protecting Yourself from Scammers on Binance P2P, so OP take a look at this before starting your p2p trading journey.

Fraud and fake payments made by sellers or buyers only take advantage of our negligence as buyers or sellers.
Before releasing assets or before receiving assets, it is better to see whether the transaction has been successful or not, look in the bank account or other payment place whether the funds have been received or not, because some naughty people use fake proof of payment.
If it is proven to be fake and no funds come in, do not release the assets. It's quite easy, whether P2P is bad or not depends on the user.

[Z390]

Yes Binance is the kind of crypto exchange right now, this is my own opinion as it might not be the same for others, I have been using binance exchange all the way back to its launched date and I could have been a BNB millionaire too, but I was too weak then.

Binance P2P is not that hard to use and they provide tutorials for new users like OP, the only issue I have with Binance P2P is that Binance shouldn't be providing P2P service because it's a centralized exchange, I think P2P trade is best on a Decentralized exchange.

I hope you don't mind about KYC verification? Binance been a centralized exchange will ask you to pass KYC verification even if P2P service on the exchange is all you plan to you, just imagine that, passing KYC for Peer to Peer trading, still the service is good and it's left for you to make a choice.

[leonair]

We all know Binance is one of the best exchange in the world and there is a button called P2P Trade and there one can trade in their own local currency. I don't know how to do that so I'm asking for help from everyone. I hope you can explain me in detail.

This is not any hard task. and if you search on YouTube how to do this then you will get many video tutorial about this. it is very easy. First choose which crypto you want to sell. Then transfer it to Funding and go to p2p option and select the currency of your country and sell it to a buy order or create a sell order. It's a very simple thing, so with a little practice, you can do it successfully.

[Sophokles]

Binance P2P trade option is a great tool to use for someone who wants to sell their crypto for their local currencies. It supports a wide range of payment methods but be careful of the payment methods you are using. Sometimes P2P sellers will tell you to send the funds in a different account that is not previously saved in the platform. This is a trap and send your funds on to the account that is shown in the platform saved by the seller.

[Victorik]

We all know Binance is one of the best exchange in the world and there is a button called P2P Trade and there one can trade in their own local currency. I don't know how to do that so I'm asking for help from everyone. I hope you can explain me in detail.

I am explaining to you very simply.First of all if you want to trade P2P you must Binance or Kucoin exchange there should be exchanges and even they should be verified so you can feel free to convert your dollars or different crypto currencies to your own local currency by going to the p2p option.

Hopefully you will understand better if you follow these steps.I mention them for your understanding.

If you want to trade Binance P2P then you must verify your exchange because without verification it is not possible to trade P2P.

1. First you go to your Binance exchange then there you will see something like this.

2. After this page is opened you will see wallet written below click on it.

3. After clicking on the option to write the wallet, you will see the option to write the deposit.

4. Clicking on the deposit button will open a page like this and a search button will appear.You just type the name of the currency you want to convert into your own money in the search button and then select that currency.

I am giving an example, because if you want to deposit USDT then you have to select any network either BSC or Ethereum network.It goes without saying that the coins you deposit will have their own network and you must selecte that network before depositing.

5. If your deposit is successful, you need to transfer them to Funding Wallet.You can do it like this.

After clicking on the transfer button, your page will show like this and you will enter the currency you want to transfer here and click on the confirm button.

6. Then you need to come back to your exchange's home page and you will see there is a button called P2P Trading and you click on that.

7. P2P After clicking on, a page like this will show in front of you You will then click on the Sell button.After clicking you will see something like this.If you click on the page that I have marked on the page that you see, it will show the currency of different countries, from there you can select the currency of the country in which you live.

8. After selecting your own country and currency you will come to this page and you will see it says select your payment method and click there to add your own account.Then you will see it written below sell with zero fee after clicking there when the buyer you sell to will pay you.Then you check it well and then release it.This way you can trade P2P on your Binance Exchange.

I have discussed it in detail like this for ease of understanding.

In addition to this very elaborate and simple guide, the OP should ensure that his/her account has been verified. Without verification you can not do p2p on binance.
Also, when trading P2P, always make sure you receive your funds in your acct before releasing the coin.

[coupable]

I think you found what you are looking for in the comments, and I want to add something important to your information, which is that by using Binance P2P, you will lose a large part of your privacy because any user you will deal with will be able to see your full name in addition to your bank account number or your private phone number, and this It will depend on the payment method that you will agree on. This means that Binance will not be the only one who will know this data about you, but also the users on Binance P2P. Also, your transaction history on Binance P2P will remain recorded in the transaction history, without you having the authority to delete or modify it. This can act as incriminating evidence against you if you are in a country that does not allow crypto activities.

[icalical]

There is a tutorial from made by Binance officially in here,
https://www.binance.com/en/support/faq/how-to-sell-cryptocurrency-via-p2p-cash-trade-zone-on-binance-app-281b12d4a7c34598b3403eb7299663bc

We all know Binance is one of the best exchange in the world

One of the biggest exchange sure, but I doubt that many people consider binance as one of the best exchange, the mobile app is horrendous and laggy, even on the latest phone, the UI is extremely overwhelming, and frequent unannounced maintenance. Not to mention that they required KYC, sometimes more than ID. There are a lot of better exchange than Binance, like one I put on my signature, eXch

[Truthlovecoins]

I think you found what you are looking for in the comments, and I want to add something important to your information, which is that by using Binance P2P, you will lose a large part of your privacy because any user you will deal with will be able to see your full name in addition to your bank account number or your private phone number, and this It will depend on the payment method that you will agree on. This means that Binance will not be the only one who will know this data about you, but also the users on Binance P2P. Also, your transaction history on Binance P2P will remain recorded in the transaction history, without you having the authority to delete or modify it. This can act as incriminating evidence against you if you are in a country that does not allow crypto activities.

It seems the P2p isn't as secret or decentralized as I was thinking. Am still learning and thanks for this post, I have gained clarity on why and when and how to effectively use the P2p in Binance.
I wonder if this applies to other exchanges with P2p, because then a user who has multiple accounts will have his details entered in the system more than once I suppose.

[RioBlemz]

We all know Binance is one of the best exchange in the world and there is a button called P2P Trade and there one can trade in their own local currency. I don't know how to do that so I'm asking for help from everyone. I hope you can explain me in detail.

There are guide to setting up your account for trading. If you read the comment on this thread different members have done justice to it. However, there I few things you need to know before embarking on your journey to trade in the financial market. I made a little post with regards what will give you little advantage and when to stop trading. I think it will be of help to you. Below is the link;

 https://bitcointalk.org/index.php?topic=5468301.0

[savetheFORUM]

I think you found what you are looking for in the comments, and I want to add something important to your information, which is that by using Binance P2P, you will lose a large part of your privacy because any user you will deal with will be able to see your full name in addition to your bank account number or your private phone number, and this It will depend on the payment method that you will agree on. This means that Binance will not be the only one who will know this data about you, but also the users on Binance P2P. Also, your transaction history on Binance P2P will remain recorded in the transaction history, without you having the authority to delete or modify it. This can act as incriminating evidence against you if you are in a country that does not allow crypto activities.

It seems the P2p isn't as secret or decentralized as I was thinking. Am still learning and thanks for this post, I have gained clarity on why and when and how to effectively use the P2p in Binance.
I wonder if this applies to other exchanges with P2p, because then a user who has multiple accounts will have his details entered in the system more than once I suppose.

There is definitely no secrecy or decentralization in P2P trading if you are doing it on a centralized platform such as Binance or any other exchange, because they will be acting as the intermediary body or the escrow for the assets being sold or bought so that there is no fraudulent activities and the trades are done more securely, though it doesn't mean that a centralized P2P market is free of scams and frauds, there are a lot of people who would try to scam you with fake transactions receipt and other stuff, so you still need to be careful and don't think that the exchange will save you from everything.

There are also platforms that allow you to make P2P trades in a decentralized matter, such as Bisq, which is a decentralized platform for buying and selling Bitcoin with a peer-to-peer system. I don't know much about the platform because I don't have any personal experience with it, but as far as I know, it's all done using the blockchain system and there is no involvement of a third-party.

[coupable]

I think you found what you are looking for in the comments, and I want to add something important to your information, which is that by using Binance P2P, you will lose a large part of your privacy because any user you will deal with will be able to see your full name in addition to your bank account number or your private phone number, and this It will depend on the payment method that you will agree on. This means that Binance will not be the only one who will know this data about you, but also the users on Binance P2P. Also, your transaction history on Binance P2P will remain recorded in the transaction history, without you having the authority to delete or modify it. This can act as incriminating evidence against you if you are in a country that does not allow crypto activities.

It seems the P2p isn't as secret or decentralized as I was thinking. Am still learning and thanks for this post, I have gained clarity on why and when and how to effectively use the P2p in Binance.
I wonder if this applies to other exchanges with P2p, because then a user who has multiple accounts will have his details entered in the system more than once I suppose.

Sorry, I don't understand what you mean by multiple accounts. I don't think there is any platform that allows this, even if it is with different identities. I would never advise you to do this.
As far as I know, the only platform that can be used with complete privacy is the Bisq platform. I noticed that many comments recommended it, and it is actually very popular among forum users on the basis that they understand the importance of the privacy issue and always prefer privacy options.