Binance P2P is a peer-to-peer marketplace where you can trade cryptocurrencies directly with other Binance users.
How to Earn Funds with Binance P2P
Binance P2P facilitates cryptocurrency transactions in your preferred payment method, local currency and price.
This article introduces the reasons why users like Binance P2P, the operation principle of the P2P merchant economy, and explores the basic P2P trading technology to help you start your cryptocurrency trading journey.
Whether you are an experienced trader or a cryptocurrency beginner, everyone can start their trading journey at Binance P2P.
A peer-to-peer transaction (aka P2P transaction) is a cryptocurrency transaction in which users interact directly, with no third parties or intermediaries. Unlike traditional trading platforms, buying and selling cryptocurrencies in the P2P marketplace does not display charts and market indicators. With P2P trading, you have more autonomy over who and how you trade.
Keep in mind that P2P trading freedom does come with certain risks. While traditional trading platforms can assist in managing cryptocurrency orders, in P2P trading there is usually no third party to ensure the transaction goes smoothly. If you are looking for a safe and convenient P2P market, Binance P2P is trustworthy and suitable for risk-conscious daily cryptocurrency traders.
Go to Binance’s Official Website
Why use Binance P2P to trade cryptocurrencies?
Binance P2P is trusted by millions of users to trade cryptocurrencies with your preferred payment method, local currency and price. Here are the top three reasons why users love using Binance P2P for daily cryptocurrency transactions.
1. Industry-leading safety performance
To ensure safe trading of cryptocurrencies between users, every transaction on Binance P2P goes through Binance’s escrow service. Once you match the right buyer and start trading, your cryptocurrency will be temporarily locked until the funds are confirmed to be transferred to the bank account. If there is a problem during the transaction, you can file an appeal and the customer service staff will help solve the problem.
2. Zero commission for buying and selling
While traditional cryptocurrency exchanges charge a small commission per transaction, P2P marketplaces such as Binance P2P allow users to trade Bitcoin and other cryptocurrencies for free.
3. Customized transactions
Supports more than 300 payment methods such as Single Euro Payment Area (SEPA) and bank transfers, as well as more than 150 local currencies. Compared with traditional methods such as spot trading, Binance P2P provides a customized trading experience.
How to start a P2P trading journey
Before diving into different P2P trading strategies, let’s help you understand how Binance’s marketplace works like a “merchant economy” by way of analogy. Whether you’re bored with your day job or looking for a side hustle to generate extra income, Binance P2P allows you to start a business without a lot of capital, much like Amazon’s Merchant Services.
1. Select the asset to utilize
Amazon Merchant: Discover a specific product that is in high demand and low in supply. Promote this product to users worldwide through Amazon.
P2P Merchants: Find the perfect blend of cryptocurrencies, fiat currencies, and popular payment methods. With a little effort, you can carve out your own niche on Binance P2P.
2. Develop a pricing strategy
Amazon Merchant: Once a product or opportunity has been identified, it is imperative to ensure that the profit margin exceeds the cost. For example, material prices, shipping costs, etc.
P2P Merchant: When publishing P2P advertisements, you can choose a fixed price or floating price. If the price of USDT is $0.99 and you want to make a 5% profit, you need to set a fixed price of $1.04. On the other hand, the floating price of advertising will also fluctuate with the market. If you want to buy USDT at the market price, you can set a 100% floating price spread (the price formula is 0.99×100%=0.99 USD). If you want to buy at a lower price, you can set a floating price spread of 99.98%. (The price formula is 0.99*99.98%=0.98 USD)
3. Promotion services
To earn money through P2P trading, your offer must be competitive, ensure a fair price, and offer multiple payment methods. Some users will also be willing to pay more in commissions if the payment method you support is more difficult to obtain. You can also post advertisements on the Internet to let users outside Binance P2P know about your products.
Trading strategies to make money with P2P
1. Placing buy and sell ads
Binance P2P’s advertising features are specially designed to meet the different goals and needs of the cryptocurrency community. You can set tighter spreads to bring more customers to your products, or set larger spreads to earn more money from advertising. For example, setting a competitive price point gives you a good reputation in the community.
2. Take advantage of cryptocurrency arbitrage
Arbitrage refers to trading assets in different markets and profiting from small price differences. The first step is to find suitable cryptocurrencies on Binance Spot and Binance P2P. Next, browse each coin until you find a profitable spread. After finding the right spread, the final step is simple – buy low and sell high.
Example: In the Binance spot market, the price of Bitcoin is about 43117 USDT; in the P2P market, someone sells it for about 43841 USDT. You can buy it at 43117 USDT in the spot market and sell it at about 43841 USDT in the P2P market.
3. Profit from fiat currency
P2P marketplaces like Binance P2P offer more than just cryptocurrency trading. Binance’s P2P fiat marketplace supports over 70 local currencies. As long as you have time and funds, you can find fiat currency spreads in the market that can make a quick profit. Watch the following case studies to see in action:
Trading (BTC/USD)
Bid price: BTC/USD=$44,421 (EUR 39,534)
Ask price: BTC/USD=$43,843 (EUR 39,020)
Yield: -$578 (sell price – buy price)
Trading (BTC/EUR)
Bid price: BTC/EUR = EUR 37,990 (USD 42,928)
Ask price: BTC/EUR = EUR 38,500 (USD 43,505)
Earnings: 38500-37990=510 euros
If you buy bitcoins in euros and sell them in the euro market, you can earn $510. If you bought Bitcoin in USD and sold it in the USD market, you would have lost $578. In this example, if you have a multi-currency bank account or two bank accounts (supporting USD and EUR respectively), you can arbitrage through the spread. If you buy bitcoin for 37,990 euros in the euro market and sell it for 43,843 euros (39,020 euros) in the dollar market, you will earn 1,039 euros (39,029 euros – 37,990 euros)
Earn funds instantly with Binance P2P
Trade cryptocurrencies now? Sign up for a Binance account or download the Binance app. After successfully registering and completing the identity verification, visit Binance P2P to start the trading journey.
If you are an experienced P2P trader, you are welcome to apply here to become a certified merchant.
Go to Binance’s Official Website
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...