P2P Binance: What Kind of Platform Is It?

Did you hear of the Binance exchange? What about its P2P platform? It allows executing transactions directly without involving any intermediaries and paying any fees. That sounds extremely profitable, doesn’t it? So, you must learn more about this service without a delay.

First, this platform is a peer-to-peer source, which means local deals involve equal participants on equal terms while there is no controlling body. It is designed like a marketplace. When you register, you get access to the list of ads published by other users. So, your task is to find the one which suits you. Or you can create your own offer and wait for another user to accept it.

Let us explain how it works by providing a simple example. So, while browsing available ads you see that another user sells BTC at a price of $40,000, and you know that it is cheaper than the current market rate. So, you accept this offer and make a purchase. Then, you can either resell this coin when you find the corresponding ad with a higher price or hold it for some time until its value grows further.

Now, let us mention the key pros of P2P Binance so that you can quickly decide whether you should try it:

• No intermediaries. Sellers interact with buyers and vice versa directly.

• No fees for a taker.

• Transparency. Unlike the rules set by standard exchanges, on this source, you know who you make a deal with.

• Both crypto-crypto and crypto-fiat transactions are available.

• Attractive prices. Users have the right to set any prices they want. So, when one wants to sell some crypto or fiat currency quickly, one often offers it at a price that is lower than the market one.

• Escrow service. When a buyer accepts an offer, the corresponding sum is frozen, but it is not transferred to a seller until he performs all his responsibilities according to the terms of a deal.

• Minimum experience is required. You do not need to perform deep market analysis to speculate on differences in prices, although it is advisable to have a basic idea of price movement patterns.

• Public ratings. You can see a record of any other user.

• Over 150 payment methods, including direct transfers to/from bank cards.

• Intuitive interface.

• Global scale. This marketplace operates in more than 180 countries, which means its user base is huge. As a result, you are unlikely to face serious difficulties in finding a suitable offer.

Meanwhile, to ensure objectivity, we must mention that, compared to conventional online exchanges, this source cannot provide equally high liquidity. Thus, trading here is slower. Yet, for some categories of users, for example, for beginners, it can be an advantage. Also, there is a risk that another party will delay a deal for some reason, you must be prepared for such situations.

In sum, earning with this platform is much easier than with any standard exchange. So, if you do not have any experience with P2P platforms so far, we recommend you start from this one.