How much do P2P traders earn on Centralized Exchanges?

[Stepstowealth]

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.

Some P2P traders also take advantage of the chat option that they have with a customer that they are doing business with either buying or selling and they go ahead to try and negotiate to their own advantage to have some more financial benefits from the trade. Sometimes you find out these traders come along to tell you to accept an amount of money slightly lower than the amount of money you are suppose to get from the trade you are doing. There are traders who will accept, and this is another extra way that P2P traders make money from centralized exchanges even asides the home profits that they make from each trade, they also benefit from the amount of money that they are being tipped.

[RGBTC]

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

Some exchanges even require users to provide bank account details before initiating their first trade; I recall OKX implementing this rule (though requirements may be stricter now, given reports that scammers have found loopholes in their P2P trading systems). Regarding profitability, traders can set floating/fixed prices and adjust for operational costs, including bank transfer fees and the like.

[Nothingtodo]

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.

There is no specific limit to how much money a P2P trader can earn. Whoever has the ability can earn as much.
However, there may be multiple reasons for not using a bank account all the time, in which case his daily limit may be exhausted. P2P traders in our country do not use one account for their security but use multiple accounts. Using one account may raise questions about the transparency of their transactions and the bank authorities may freeze their account for unsafe transactions. Moreover, using an account more than once may result in income tax issues, so one can use one account at a time for personal security.

[Livingleged]

I’m even more particular with Bybit, does the platform even allows payment to a third party? Well I’ve not tried it but I feel it shouldn’t even be allowed because that can lead to so many misunderstanding in the case of failed payments.

About estimating an amount a trader can make with a budget of $50k will depend on the amount of orders he get and complete transaction with also taking the rate of bitcoin at the trading time. If you’re talking about stable coin it’s also similar, but here the difference isn’t much because the coin is stable and the difference will only be in the fiat currency you’re trading with the USDT at that time. Hence coming out with an amount to will be really difficult.

[Dr.Bitcoin_Strange]

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.

Particularly about this, man, be very careful not to receive payments from a third party account when selling your coins on p2p section of centralized exchanges, not only on binance but on other exchange too. The first comment is very correct in his statement.

If you carefully read the terms and conditions of the exchange, I believe you will definitely see a warning that States, "don't accept payment from a third part account that doesn't match with the name of the p2p agent on the exchange" Binance and bybit has this rules and anyone violating the rule is doing their self more harm than good because the p2p agent can pay you from an account with stolen money and than can lead to your bank account being frozen or even lead to your arrest depending on how serious the matter is.

This kind of things has happened in my country, the guy sold his coins and the p2p person paid from a third party account, later he realized that his account has been frozen because that money they paid him was tagged as erroneous transaction.

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.

They earn based on the price difference of the asset they are selling and their profit increases depending on the number of trades they are able to execute in a day. You know that that market is competitive, there are more than 100-300 agents selling and buying on the p2p option and most of them usually offer different price rate. People who have the best rates will likely executes more trade than those with poor rate.

Simple maths, they buy USDT and [any other eligible coin] from people at a low price and sell at a slightly higher price to another person.

[Nrcewker]

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.

First let me tell you what happens in my country. Traders use third party accounts just to avoid paying taxes. In my country crypto is heavily taxed and hence, they use different bank accounts under different names. In my country you can easily purchase a bank account with all the necessary documents. Some scammers also use third party accounts. For example, they will display your bank details to the victims so that the victims transfer money to your bank account. You will then sell them the coins. Once they receive the coins, they will block the victims. Hence, indirectly you have scammed the victims as the money was transferred to your bank account. Therefore, I avoid 3rd party P2P deals.

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 main source of profit for a P2P trader is to buy at a lower price and sell at a higher price. Hence, in this manner they can make up to 5% of their total budget per day depending on the market.

[Finebone]

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

The main reason they do this, by paying from a third party account is because of bank limit, because their are some amount you may not exceed, as an account owners with some commercial banks, so that is why in most p2p adds, they will explain that they might pay from their business account or a third party account that will be specified, so if you accept the trade , automatically you have accepted the conditions to trade with that p2p vendor.

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.

No amount is specified, because it's a business that may go well today or may not go well tomorrow. A friend of mine that was doing p2p vendor job with 2million Nigerian naira makes the minimum of 20k daily, because you might benefit only 1or 2k from a 200k worth of trade, so your daily profit depends mostly on the volume of trade you did that daily.

[CryptoBuds]

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.

As far as I know, merchant use different accounts to send money because they process too many transactions in a day and the amount exceeds the bank's daily transfer limit.

I have come across many cases like this during my years of trading P2P on Binance, and I have hardly had any problem with it.

As for how much a $50k P2P trader can make per day. I think it depend on the number of customer, trading volume, and the spread you make on each transaction.

[Asiska02]

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.

Third parties accounts are not safe to receive money from during P2P trading. There is always a disclaimer the exchange leaves not to accept money from third party account that does not correspond to the name of the sender. I feel sometimes they use those third party account because of limitations because they sometimes put it in their rules that they’ll be sending from their account or their alternative business account, so if you’re okay with it, you can click on their ads to transact with them. This information is already convincing to me and I do accept payment from there and never had any issues before from such merchants since I look up to their ratings before even agreeing to trade with them.

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 know that they make money but I don’t think their budget matters in how much they make daily but rather the number of trades they do in a day. It is profitable to them but until one does it with them can they know how much they make and other ways they make money in exchange, because I’m certain this is not the only means to make money there as merchants. Some traders also ask for fees before sending which if you’re not okay with, you don’t need to trade with them but I’m not sure if that happens in Binance also because I don’t do p2p transactions there anymore.

[henmark]

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.

As far as I know, merchant use different accounts to send money because they process too many transactions in a day and the amount exceeds the bank's daily transfer limit.

I have come across many cases like this during my years of trading P2P on Binance, and I have hardly had any problem with it.

As for how much a $50k P2P trader can make per day. I think it depend on the number of customer, trading volume, and the spread you make on each transaction.

You can definitely open up a "business" account to overcome that. Sure you would have to pay taxes, but that is expected of you if you are making profit anyways, just because you do not and you avoid paying taxes, doesn't mean what you are doing is legal. Buying up and selling crypto on p2p , while using CEX to make sure you keep going, is basically a business, and you do this for profit. It is not exactly like a trading, sure if I open a binance account and trade there, then I would pay very little taxes, but with p2p you offer a "service", you ARE the binance in that situation.

This is why it makes sense that you pay taxes higher than me, because you are a business and I am a trader. And for that reason starting a business account would work and in any bank you would be able to actually get line of credit, get a great credit score, and you could have endless cash options. That way, if you ever face something that is great but bigger than what you can afford, then you could use the line of credit to do the move, and profit, and pay it back right away.

[Odogwu-Blockchain]

They earn by by buying more more USDT when the Fiat rare is low and then sell to Fiat when it's high, that's how they make their gain, it doesn't come fast as you may be thinking but a slow consistent purchase of USDT keeps increasing untill the economic situation of the their country causes the Fiat to increase, that's when they sell back to Fiat and make their gain

[Homemade-IQ]

They earn by by buying more more USDT when the Fiat rare is low and then sell to Fiat when it's high, that's how they make their gain, it doesn't come fast as you may be thinking but a slow consistent purchase of USDT keeps increasing untill the economic situation of the their country causes the Fiat to increase, that's when they sell back to Fiat and make their gain

If they are truly following this your strategy, do you think that a lot of p2p vendor will be available to do business 24/7 ?

They earn by the numbers of amount sold, so if they bought one usdt at  $0.98, they place a sell order immediately in their desired selling price like $1.02, that is they will be making $0.04 on every dollar sold, so if they can sell up to $1000 a day, then they will be making $40 for that day, and that is how they will make more or less if it's a good day or a bad day.

[jossiel]

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

Some exchanges even require users to provide bank account details before initiating their first trade; I recall OKX implementing this rule (though requirements may be stricter now, given reports that scammers have found loopholes in their P2P trading systems). Regarding profitability, traders can set floating/fixed prices and adjust for operational costs, including bank transfer fees and the like.

I agree, they'll need to have that flexibility if they don't want a bit of expense be on them.

And for these exchanges, getting stricter is a must when many of their users have been scammed and taken advantage by these cons through their own p2p system.

They earn by by buying more more USDT when the Fiat rare is low and then sell to Fiat when it's high, that's how they make their gain, it doesn't come fast as you may be thinking but a slow consistent purchase of USDT keeps increasing untill the economic situation of the their country causes the Fiat to increase, that's when they sell back to Fiat and make their gain

It's easy to say that but it won't stay to that situation for long that they'll continually make money out of USDT/fiat.

And I think you wanted to say rate and not rare.

[snowpega]

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.

Yeah, that's so true. And I also don't know why people do this; maybe they are using a third-party bank account so that they can escape the legal function of the traditional system. This can help them to run away from paying taxes, maybe. Anyways there days the number of people in the P2P section is more than expected who pay from third-party accounts. What I personally do is that until the person who sent me Fiat in the P2P section sends me a screenshot of the transaction, I do not release their funds.

The major reason why I always ask for the screenshot is that if in case i got stuck in any problem in any CEX exchange, then I will be able to stay on the safe side by showing evidence on customers serivce. Maybe this is what we all can do about this matter? What do you think about this? CMIIW! Other than this, the answer to your question is that if they are doing p2p then they must be earning a good amount because who will do or trade a big amount if they are not getting any benefit from it?

[Synchronice]

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.

Yes, it's hard to find a trader that will send money from his/her personal account. Almost every top P2P trader sends money from trusted 3rd party accounts. I know it's against rules but why don't exchanges ban them? Seems strange.

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.

They always say in their bio that they'll might send from trusted 3rd party and if you don't agree with that, cancel the order. But here is the thing, it's against rules, yet, they do it without problems. Why? How? Doesn't make sense.
I also don't understand why banks don't block these people for such frequent bank transactions.

[HelliumZ]

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 best way to find out is to talk to an experienced P2P(peer to peer)trader in person. I don't think there is a specific measure for this as it will vary from trader to trader.

P2P traders usually trade from different accounts to enhance security. There may be other reasons, including the fact that if the daily limit is exceeded, they can trade from a third party account, which is not a difficult issue.

However, in the context of my country, there are government restrictions on all these trading activities in my country, which is why traders in our country sometimes use different accounts to achieve greater security.

[Faisal2202]

Yes, it's hard to find a trader that will send money from his/her personal account. Almost every top P2P trader sends money from trusted 3rd party accounts. I know it's against rules but why don't exchanges ban them? Seems strange.

We can report the deal to the exchange if they have not mentioned they will make payments from third party accounts in the policy of their trades. Then we might not have to even release our funds, but if they have written some terms like if you start a deal, you are agreeing to the terms, like we can send you money from any account, etc.

Most of the time, they even write, we will require ID card pictures, as once the same issue was reported on the forum, and after that, I have stayed more careful and read the terms so they won't raise any flags against me. So exchanges can ban them, but they also are not that strict about the whole thing.

[justdimin]

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 best way to find out is to talk to an experienced P2P(peer to peer)trader in person. I don't think there is a specific measure for this as it will vary from trader to trader.

P2P traders usually trade from different accounts to enhance security. There may be other reasons, including the fact that if the daily limit is exceeded, they can trade from a third party account, which is not a difficult issue.

However, in the context of my country, there are government restrictions on all these trading activities in my country, which is why traders in our country sometimes use different accounts to achieve greater security.

I have met with a group of traders like this; they were basically a community, and they would do p2p both between each other and with newbies outside of the community as well. And all they did, every single day, would be trying to find an ounce of profit anywhere they could. That's the goal of the business, doesn't matter if you are making 1 dollar profit from a deal. If you are making a profit, you take it.

And in most cases, P2P places have trust ratings, and if you do a job and get a rating, then you get a more trusted look. Which is why they take every deal they make a profit from. Also, they had accounts on ALL exchanges that they can connect their bank accounts to; like, yeah, they probably had coinbase too, but coinbase can't be sending money to our bank accounts in my country, so what they did was just open accounts in every exchange in my country. Using the cash they have, and looking at every deal, they were trying to be the quickest to take any deal that is profitable.