Ways of Buying Bitcoin on Binance P2P.
What is trading?
Trading is a fundamental economic concept that involves buying and selling assets. These can be goods and services, where the buyer pays the compensation to the seller. In other cases, the transaction can involve the exchange of goods and services between the trading parties.
In the context of the financial markets, the assets being traded are called financial instruments. These can be stocks, bonds, currencypairs on the Forex market, options, futures, margin products, cryptocurrency, and many others.
— Trading on Binance Exchange!
Welcome to Binance.com — the world’s leading crypto exchange.
Let’s get started in 5 quick and easy steps:
- Step 1: Register Account
- Step 2: Complete Verification
- Step 3: Deposit Crypto
- Step 4: Buy Crypto
Step 1: Register Account
Register a Binance account from the Binance App, Binance website, or Binance Desktop App with your email or phone number.
Step 2: Complete Verification
You can complete Identity Verification on your Binance account to unlock the fiat deposit and withdrawal limits. This process typically takes a few minutes to complete, which includes verifying your basic account information, providing ID documentation, and uploading a selfie/portrait.
Be sure to secure your Binance account — while we do everything to keep your account secure, you also have the power to increase the security of your Binance account. See our Security Tips for more information.
Step 3: Deposit Crypto
If you already hold crypto in another wallet, you can deposit them into your Binance Wallet. Please refer to the FAQ here for more information on how to deposit and withdraw crypto on your Binance account.
If you are not familiar with crypto wallets, please read this Academy article here to learn more. Please note that you should never share your Binance Account/Wallet passwords, private keys, or 2FA codes with anyone. Binance will never ask you to disclose sensitive information.
Step 4: Buy Crypto
Deposit Fiat
Depending on your country, you can deposit up to 50+ fiat currencies, such as EUR, BRL, and AUD to your Binance account using bank transfer and bank cards. You can find these different fiat channels here. Once deposited, you can use them to buy crypto directly.
Buy Crypto Using Debit/Credit Card
You can also buy crypto directly using your credit/debit card on the Binance website or the Lite Mode on the Binance App easily.
-Buy Crypto Using P2P (Peer-to-Peer)
You can buy crypto with P2P methods, too. This allows you to buy crypto from other crypto enthusiasts like you directly. Visit this page to learn more on how to buy crypto on P2P.
We’ll be focusing on how to use the P2P (Peer-to-Peer) method and different options under the P2P.
We’ll be looking at two main points under the P2P and how to use each of them.
● Express Zone
● Block Zone
I’ll start by breaking each of the down bits by bits and how to start using them.
— Express Zone
With Binance P2P Express mode, users can directly place an order by entering the fiat or crypto amount and the preferred payment method. The orders are matched based on the best crypto price available in the P2P markets.
1.Once you enter P2P page, choose “EXPRESS” in the upper left corner of the app page.
2.Click “BUY” or “SELL”, and then fill in the fiat amount or crypto quantity you want to trade.
3.After you click “Buy with 0 Fee” or “Sell with 0 fee,” the system will automatically create an order that matches your requirements. The orders are matched based on the best crypto price available in the P2P markets.
Note: To use Binance P2P Express Mode, users must pass identity verification (KYC) with residence information in India, Hong Kong and Vietnam.
-Block Zone
Block trades, or trades involving large transaction amounts, have played a crucial role in traditional markets long before crypto. When it comes to equities, block trades are usually conducted through an intermediary who specializes in handling large transactions–also known as a block trading facility–so as not to negatively affect the market price of the asset that is being traded. This gives traders and investors a simple method to sell large amounts of an asset at their intended price.
Similar to traditional markets, the Binance P2P marketplace acts as a safe and reliable intermediary who can conduct high-volume crypto trades. Users who are interested in selling a large amount of their crypto can consider trading with a block trade merchant on Binance P2P, our leading peer-to-peer marketplace that’s trusted by millions of users worldwide.
- In the world of crypto, block trades refer to large volume sales or purchases of cryptocurrencies that are typically performed outside of the open market for security purposes.
- If you’re dealing with large amounts of money, you need a secure and trustworthy platform and counterparty to conduct your transaction.
- With over 300+ payment methods, 70+ fiat currencies and verified block trader merchants, find out how you can sell Bitcoin and other cryptocurrencies in bulk on Binance P2P.
Why Should I Sell to a Block Trader on Binance P2P?
Our team at Binance P2P has a strict vetting process for all our block trade merchants, offering you a safe and secure method to trade crypto in bulk. If you’re interested in learning more, we’ve listed some common reasons why users holding large amounts of crypto may prefer selling to a block trader.
1. Avoid slippage
Selling a large amount of crypto in one market order on an exchange can be difficult and can result in slippage, which is receiving a market price that is different than intended. This typically happens in low-volume coins where the order book does not have enough buyers to match a high-volume transaction.
2. Ultra-fast transactions at your price
Some traders will sell their holdings in small sizes or leave limit orders to combat slippage. However, this method leaves you open to market risk the longer you wait for the order book to fill out, leaving you with an undesired execution price. In other words, the market may turn against you while you’re trying to sell off your crypto. With a block trading merchant, you can execute large orders in minutes at your preferred price, negating the need to watch charts all day.
3. Sell with your preferred payment method
Binance P2P supports block trades for more than 300+ payment methods and more than 70+ fiat currencies, giving you an accessible platform to sell crypto with zero fees.
How do I Make Block Trades on Binance P2P?
Making a block trade on Binance P2P is a simple 3-step process. Before you read our step-by-step guide on Binance P2P block trades, make sure you’ve completed intermediate or advanced verification.
Click on P2P trading from the Binance App homepage and follow the instructions below.
1. Filter the marketplace
- Before you start browsing, click the filter icon on the top right and set it to only show ads from merchants.
- You can also filter by payment method and total amount of local currency.
2. Look for sellers with the purple diamond
- Go back to the P2P marketplace and you’ll notice that all the seller names will either have a purple diamond or yellow badge next to their name.
- Click on the name with the purple diamond. These are users who have been vetted and verified to make high-volume crypto block trades.
3. Complete your trade
- Enter the quantity you want to sell, select a payment method and confirm your order. After the buyer makes the payment, make sure you’ve received the funds from the buyer before you press confirm receipt and release your crypto.
- If you have not received any money, please DO NOT release crypto to avoid potential financial losses.
Additional method: P2P Block Trade zone
- You can also click “P2P” on the top left of the marketplace homepage and select “Block Trade” to see all the available block trade ads.
- Please note: P2P Block Trade zone is currently available in RUB, EUR, INR, HKD, NGN, VND, PHP and IDR markets.
Here are few terms and terminologies you can familiarize yourself with while trading P2P.
1. What is P2P?
‘Peer-to-peer’ (P2P) trading is a form of trading where a buyer and seller directly exchange their crypto and fiat assets with the help of an online marketplace and escrow services.
2. What is the advertisement?
Users can post the price they would like to trade their crypto at and publish it on our platform. The broadcasted deal is called an “Advertisement”.
3. What is the publisher?
The user who posts an “advertisement”, a broadcasted offer to buy/sell the cryptocurrency, is the publisher.
4. What is the release?
When a buyer has paid the seller, and the seller has confirmed that the payment is received, the seller has to confirm and release the crypto to the buyer.
5. How to transfer?
You have to transfer your crypto from the P2P wallet to the spot wallet in order to trade in the market. In the APP, Go to “Funds”, go to “P2P”, click on “Transfer”, select the crypto and amount you would like to transfer, and click on the “Transfer” button.
6. What is the appeal?
When there is a dispute between buyer and seller, and a user would like the platform to arbitrate, users can file an appeal. The crypto involved in the trade will stay locked during the process.
7. How to cancel an appeal?
After filing an appeal, the user who started the appeal can cancel the appeal if the agreement is reached between the parties and arbitration is no longer needed. The order will return to the state where it is waiting for confirmation from the seller to release the crypto. The crypto will stay locked until the seller has confirmed the receipt of payment.
8. How to post ads?
For users who satisfy the prerequisites, you can click on the “Post a new ad” button, and post an Ad by selecting the type of ads, trading amount, price and conditions etc. Once the details are confirmed, you can click on “Publish” to post the ad.
9. How to become a merchant?
Please submit an application to become a merchant, for more details, please visit this page.
10. What is the “T+1” withdrawal limit?
If risk controls are triggered, the buyer will not be able to withdraw the purchased crypto from Binance for 24 hours. The “T+1” withdrawal limit only applies to Chinese yuan trading.
11. What is In order?
An order is a promised trade that the buyer and seller has agreed upon. Binance P2P facilitates the trade by providing an escrow service, meaning locking the assets until both sides agree to release as promised.
12. What is Add payment method?
In order to receive payment from the buyer, the user has to add payment details.
13. What is order matching?
Our system automatically matches the buyer/user for the users by the best price, matching payment method, and total trading amount.
14. Why can a price expire?
The prices of floating price Ads fluctuate with the market and are refreshed every minute. The price you see might have expired after a minute. In that case, you need to refresh and get the updated price before confirming the order.
15. What is trade qualification?
You need to add a valid mobile number and complete identification verification before you can trade P2P.
16. What is a floating Price Advertisement?
The price of a floating price ad fluctuates with the market and is refreshed every minute.
17. What is a Fixed Price Advertisement?
Price of fixed price Ads is fixed and does not move with the market price of the crypto.
18. What is Floating Price Adjustment?
Floating Price Adjustment is the premium that the Ad publisher would like to charge in order to calculate the price they would like to buy/sell at.
19. What is the difference between Offer listing and Express mode?
The “Express” mode automatically matches a buy/seller for you, while in “Offer Listing” you can select your own buyer/seller.
