How much do P2P traders earn on Centralized Exchanges?

[Synchronice]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

[Zaguru12]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly,

Personally I will say it’s actually very risky to actually Recieve payments from third party accounts because you don’t know their intentions. Most of these third party accounts are mostly business accounts or that belonging to their family or friends. As for why they do that, the only plausible reason for this is to beat or avoid extra charges for high volume transactions. I know some accounts or banks have limitations and I think it’s actually why they use third party probably so that they don’t reach limits for the day.

does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

The profit they get is usually something I can’t explain but merely looking at bybit buying and selling of p2p I see a difference of $5 when they buy my usdt to my local currency compare to when they sell same usdt for the local currency. Probably it’s this amount that actually accumulate as their profits after many charges; both exchange and bank charges deduction.

[_act_]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.

I am not using Binance for P2P but I know that exchanges also say that you should only send money to the bank account under name of the person you are trading with. Also if the person will be the one that will send you money, that you should make sure the name on the bank correspond with the name of the person on the exchange.

Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

All I know is that P2P traders use buy and sell prices differences to make money. Another one is that they can make use of arbitrage to make money on other exchanges as they are using more than one exchange. The buy and sell prices are not stable, which makes it also risky to some extent. There can be unfavorable days also.

[Faisal2202]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

Don't make deals with someone who says they will make payments from someone else's accounts. Although on Binance, it is almost hard to find someone who makes payments from their own accounts. In my lifetime in crypto, I have only been able to make one P2P trade with a person who made payment from his own personal account.

Recently, I made a trade. The person was a scammer. He raised a flag after the deal was completed. I sold USDT, his local currency blocked my account. It was opened after 48 hours, though, but I sent the funds to someone, and their account was also blocked, and it took more than 2 months to unlock it. After the 3rd month, they blocked my account again, and to this date, they have not unlocked it.

Anyway, this info was necessary. So if you are new to the Binance P2P, always read the reviews. If a single negative review says their account is blocked due to a chain dispute or something with this person, never trade with them. Always read negative reviews. These days, I even read all the reviews. If they are more than 500, I don't trade with them.

It is not always about the rate. It is about the convenience, speed, and reliability of the funds.

Speaking of how much profit you can make with $50k investment, well, it matters on several things. When BTC price is dumping, the rates are increasing on Binance, and when pumping, the rates are decreasing. It depends on how many deals you get in one day. You have to check the USD/Euro rates of buyers and sellers and compare by yourself how much you can make with your capital with how many trades. I can't give you an exact number, but you can start good with $50k. That I can tell.

[Dareo]

Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

I would say that taking payments from a third party account is the biggest red flag. Because someone may be using multiple payment accounts for business convenience, but if the buyer's name and the payment sender's name do not match, it can be difficult to prove who the real owner was in case of trouble later.

And it is difficult to say how much profit will be fixed per day with $50k capital. If a trader buys USDT with $50,000 and keeps only $0.01 margin per USDT. If a total volume of $20,000 can be rotated per day, then the gross margin will be about $200. But here the same $50,000 is being rotated repeatedly, so capital and daily volume are not the same thing. P2P merchants basically make margin from the price spread.

[Frankolala]

It's wrong for you to accept funds from a third party and I believe that it's clearly written by the exchange when you are about to make p2p trade. It's dangerous because you don't know if the third party account is use for money laundering. As for profit making, it depends on the orders that you execute a day. The higher the order being executed, the higher your profit.

[jossiel]

It's on binance rules that the seller/buyer's name must match to the transaction and bank acccounts.

3. Only transfer payment to the seller's bank account if the account name matches their registered name on Binance. The seller’s bank account name must be identical to the verified name on their Binance account. Do not make payments to a 3rd party account.

7. We discourage use of payment methods that do not display the payer's name to the seller, as it cannot verify the payer's name is consistent with the name on Binance. If disputes arise from using payment methods that do not display real names, the buyer should always be responsible for the loss.

I'm not sure how much they earn but as per binance, the rule is clear about that. And basically, it could also be the same for other exchanges.

[shawonngp]

Binance implemented P2P in 2019-2020, if I'm not mistaken. Since the beginning, I buy/sell dollars on Binance P2P, but I'm not a verified merchant; I basically sell what I get paid for on the forum. However, Binance doesn't allow transactions from a third-party account because it doesn't match your exchange account; how would a seller identify the real owner of this transaction? It's too risky, so Binance doesn't allow it. There are many merchants on Binance; especially when I trade in our local currency, I see that everyone has different profits. For example, many people buy dollars at a slightly lower price from local sellers and sell bids on Binance P2P.

[BitMaxz]

Based on what I heard to some arbitrage traders, they only earn from the spread; they offer both buy and sell orders. There's a gap between them; it's a very slim percentage, but they said they can fill many orders and still make a profit every day. I don't know exactly how it works, but it looks like they use different exchanges here; they might offer on the sell side while the other exchanges buy orders to make sure they are making profit from the spread.
It works like they set an ads buying USDT as a sample slightly lower than the original price and then sell USDT slightly above the market price, meaning they only make money only from the spread. It's very slim, but P2P has a large trading volume, and I think if you can sit all day at your PC to monitor those orders and process them in the end, you can make a profit.

[Creeper0]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

When a trader asks you to send payment from a third party account, try to cancel the order or force him to send payment from the account of the name on the exchange. Because this is very risky, if you ever face legal complications, you may not be able to prove that it was only the exchange's P2P.

It is very difficult to say about the income of exchange P2P traders. They mainly make some money from the difference in buying/selling and can also make some money through local regulations. Since the crypto market is very volatile, it is very difficult to estimate the amount of their income, sometimes they also face losses.

[Zoomic]

P2P profit I think can change depending on the market and the trader's volume so there's no way anyone can have a fixed answer to this your question.

The fact that a P2P trader has upto $50k capital does not mean that they're making money on the whole amount.

When you deduct bank and exchanges charges and some failed transactions that still eat from the capital you'll see that it's not really easy to calculate their profit. So rather than concentrating on the total amount of capital, checking the net profit after all costs will give us a more accurate answer.

[ZAINmalik75]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

The profitability depends on how many traders a person can make per day, because the margin is usually pretty low because they buy and sell at the same time, and there can only be a small difference between the buying and selling prices in the P2P market. Based on personal experience, I can say that mostly the ones who use third-party accounts for making payments are verified merchants on Binance, and they will always tell you that they are using third-party accounts because they have to make a lot of trades, so their limit run out and then they have to use third-party accounts.

Even though there is a rule in Binance that to become a verified merchant, you will need to deposit $5,000 to the platform that serves as a security deposit and if there is a dispute against you, the amount is deducted from that, which is why they are allowed to use third-party payment methods for their trades, but I would still not suggest using them, because it can still be dangerous and your account might still get blocked.

[Donneski]

I don't even know why some people even accept to take payments from third-party accounts. I don't even accept such because I've seen how it's landed someone in a very big trouble. I've asked that I refund some of them who's tried it before and cancel the trade afterwards. It's either you pay me with the account attached to your ad or we don't trade.

I don't really know much about how they calculate their profits but I think it's mostly about the number of transactions they make on daily basis.

[Perfectbaby]

They benefit more from bitcoin usdt while trading as whenever the price dropped they buy more bitcoin and sells back when the price high to usdt. Actually there is no much profit trading on p2p unlike those who are trading directly usd/btc or other currencies including altcoins that could also be profitable to them while trading. Back then when we were using Binance p2p to trade wasn’t that profitable before they had issues and got the NGN delisted on their p2p.

[Abu-Naim]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.

Sending money to a third party account that is not stated in the trade is very risky, you can lose your money if one party decide to denied because the exchange restricts sending in a third party account to avoid problems of losing money when they haven’t confirmed the  payment to release the crypto to the buyer.

What centralized exchanges do is to stand as an escrow to be the intermediary, that has been what has been helping them to avoid scams from p2p transactions.

Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

All exchanges have their policies and guidelines to participate in p2p in the exchange, there are sole retirements you need to fulfill before joining p2p as a vendor, but I don’t know the money they earn from P2P.

[Webutxo]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

We deal with unstable usd/Naira and their profits are not instant. In Nigeria, we are dealing with remittance for long time and crypto has been the best way people send and receive payment, so most of this merchants buy through p2p and sell through p2p and rate are not the same. If they are buying from you, it will be either ₦10 different from if they are selling to you, the profit they make depends on the volume they transact for the day.

Using third party account for transactions, I don't think it's a good advice if you are into p2p. I know many merchants that has their accounts froze because they allegedly say the money from third party account is money laundering and since you received the money from the account, you are a suspect in the case. Many people have lost their savings and business because of these problem, I don't know for your country but please avoid third party account.

[Z_MBFM]

I viewed P2P section of Binance and I noticed that there are many people who do P2P trade not only with their accounts but with the account of trusted 3rd parties. i.e. to be more specific, person says that they'll send money from A bank to your bank account but it might not directly come from their own bank account but from the account of 3rd parties that they manage.
Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

If we talk about my country, those who trade P2P can earn quite a good amount from P2P. Because crypto is not legal in my country yet, due to which crypto cannot be converted directly, the only way is through the bank. Those who have taken merchants there hold a good amount and then do P2P with the merchant to increase their trust. And when they are doing bank transactions, the dollar rate is a little higher or lower, but they are getting a good amount of profit for making large transactions. And when they are doing transactions through MFS, they have taken an account as an agent from the MFS company, so they sell the dollar at a slightly higher or lower price and make a profit, as well as getting a commission as an agent. All in all, they are earning quite a good amount in the context of my country. However, there are risks in these, many times they have to face legal complications.

[Myleschetty]

What I can say is that you shouldn't deal with traders who don't use their own accounts because any P2P trader who claims to be sending money from the accounts of third parties they manage is actually sending money from a stolen or hacked bank account. This is something that some people have encountered through P2P.
It is difficult to estimate the potential profit for traders with a 50K USD budget because P2P traders leverage on the slight changes in the two currencies they trade so everything depends on market performance.

[Alphakilo]

Based on what I heard to some arbitrage traders, they only earn from the spread; they offer both buy and sell orders. There's a gap between them; it's a very slim percentage, but they said they can fill many orders and still make a profit every day. I don't know exactly how it works, but it looks like they use different exchanges here; they might offer on the sell side while the other exchanges buy orders to make sure they are making profit from the spread.
It works like they set an ads buying USDT as a sample slightly lower than the original price and then sell USDT slightly above the market price, meaning they only make money only from the spread. It's very slim, but P2P has a large trading volume, and I think if you can sit all day at your PC to monitor those orders and process them in the end, you can make a profit.

I think different exchanges offer different percentages and while a merchant trader can use any of one or more exchanges, am sure they can make a decent profit at the end of the day. Some traders these days even use automation to make their transactions faster, so they don't really need to sit all day doing the work themselves.

Another point I want to impress upon is the extra carefulness that should be taken when receiving payments from a separate account that's not linked to or bears similarities to the merchant you are trading with. It could be a bad transaction after all, so it's better to cancel or refund or don't even allow the transaction than to be sorry later on.

[AVE5]

Firstly, I don't understand why they do this and secondly, does anyone know how much money does active P2P trader with a budget of 50K USD can potentially earn per day? I mostly focus on stablecoin to USD/Euro and Bitcoin to USD/Euro P2P traders.

Hmm I doubt if you can get the actual aggregate of this calculation of how much a vendor could make from an estimate of certain bank roll or capital.
Sometimes ago I had a P2p transaction with a vendor in one of my regular exchange platform, after the trader sent the money to Mt Bank account, while I was trying to release the asset, network error which fault might either from the platforms network or internet occurred as the confirmation code was experiencing delays traffic to confirm the transaction between us successful and the vendor was crazy with me saying I'm causing his values lost considering the market volatility as I couldn't release coin immediately.
I think there's a mathematical reference on how much they buys and how much sold. Don't forget that volatility too is unpredictable transacting with stable coins doesn't entirely give P2p vendors such edge to be lost free also.