![]() ![]() Enter the amount you need to transfer to your P2P wallet.In front of the respective asset, click on the “Transfer Button”.Now, you need to transfer funds that you need to withdraw to your P2P wallet. Enter respective wallet or bank details.Your preferred payment methods are updated.Your 2FA (2 Factor Authentication is active).To withdraw funds from Binance P2P, you need to ensure three things as follows: Once USDT is transferred into your spot wallet, you can use it for trading on the Binance Exchange. ![]() Of course, you can do it directly from your wallet as well. Now, click on the “Transfer to Spot” button to transfer USDT from your P2P wallet to Spot wallet. Once the transaction is complete, you would receive confirmation as follows: Once payment is made, you need to confirm the transaction by clicking on “Transferred, Next” and then clicking on “Confirm”. As a buyer, you would get 30 minutes to transfer the payment and confirm. Step 5 – Once the purchase is confirmed, you will get details of the buyer and the payment address on which you need to transfer the money. In the express mode, all these things are taken care of, and you need to choose the method of payment you want to use. The mode of payments they are willing to acceptįor Example, in the above image, Hari’s minimum limit is INR 36,800 which means You need to find someone who wants to sell USDT worth a small amount of INR 100.In the case of P2P option, you need to choose a person from whom you would want to purchase USDT depending on Express – Here Binance chooses the best offer for you.P2P – Here you need to find out people and choose a best offer to purchase your asset.Step 1 – Complete your KYC (Know Your Customer) and activate your 2FA (2 Factor Authentication) of Binance. Following are the steps to deposit funds through Binance P2P: Let’s assume that you want to purchase USDT worth INR 100 from Binance P2P. To give you an understanding of the complete process I would explain the process of depositing and withdrawing funds using Binance P2P with an example. If you like it, do share this infographic on social media and tag us let us understand the process of depositing and withdrawing funds from Binance P2P. To summarize, here’s an infographic, illustrating where Binance P2P shines and where it lacks. A user needs to complete his KYC on Binance before he can use Binance P2P.Transactions may take longer time in comparison with an exchange.Binance P2P has lower liquidity and lower trade volumes in comparison with the Binance Exchange.24/7 customer support – If you ever run into a problem, you can reach out to Binance customer support for resolutions.Seller’s assets are locked up by Binance till the transaction is complete.You do not need to use your bank account to buy from Binance P2P.You can create a trade advertisement to buy or sell at your own price.There are over 700+ such different methods supported by Binance. Sellers can decide the mode in which they want to be paid such as bank, wallets, cash, etc.Binance charges no trading fee for P2P trading.Benefits and Risks of Binance P2Pīy now, you must have realized that Binance P2P brings a number of benefits for Crypto investors and traders, but it comes with its fair share of limitations that you should consider before using it ![]() Now let us understand the benefits and possible limitations of Binance P2P. List of Supported Fiat Currency on Binance P2P The list of supported Fiat currencies is as follows: AED What all Fiat Currencies are supported for a Binance P2P trade? Which Crypto Assets can be bought on Binance P2P?Īt the time of writing this, the list of supported crypto assets is as follows: Thus, improving the security and reliability of the process. Binance locks up the seller’s crypto assets from the time he initiates a selling advertisement till these assets are actually transferred into the buyer’s account. There are over 150 different methods through which fiat currency can be paid or received by a user on Binance P2P. Here Binance acts as an intermediary only to improve the security of the process of exchange of assets.įor example: If you want to buy USDT with INR, then you would have to find someone on Binance P2P who wants to sell his USDT and also accepting INR for this exchange. Binance P2P is a Peer to Peer marketplace where buyers and seller directly exchange their crypto assets for fiat currencies. ![]()
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