What is P2P Transaction?

P2P trading is a form of Peer to Peer trading, which is a type of cryptocurrency exchange where buyers and sellers directly exchange crypto assets and fiat money with the help of an online marketplace and escrow services. The exchange will act as an intermediary to ensure the interests of both parties.

How P2P works?

Buy Cryptocurrencies:

  • Place order: After placing an order, crypto assets will be deposited into Binance P2P.
  • Merchant Payments: Send money to merchants via suggested payment methods. When completing the fiat transaction and click “Transferred, notify seller” on Binance P2P.
  • Get your crypto: after the merchant confirms receipt of the funds, the escrow crypto will be unlocked.

Sell Cryptocurrencies:

  • Place an order: After you place an order, your crypto assets will be deposited into Binance P2P.
  • Payment confirmation: Check the transaction information in the provided payment account and make sure you receive the payment from the buyer.
  • Unlock Cryptocurrencies: After you confirm receipt of funds, unlock crypto for buyers on Binance P2P.

Detailed Instructions on how to trade P2P

Buy Cryptocurrencies

– After logging in, move your mouse to the “Buy Crypto” area, then select “P2P Trading”:

– You will see an important interface as below:

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1: The area you will choose to buy or choose to sell

2: You can enter the amount of cryptocurrencies you want to quickly filter who is eligible to trade.

3: The fiat currency you choose to pay for when buying or selling cryptocurrency.

4: Payment method between buyer and seller (Depending on each country, there will be different payment methods)

5: Cryptocurrencies that you can buy P2P. The Binance exchange is supporting 7 coins: USDT, BTC, BUSD, BNB, ETH, ADA, SLP.

6: This is where you need to check about the buy or sell limit, the right price ratio, the reliability that you can buy or sell via P2P.

With the above overview, you choose a cryptocurrency, choose a fiat currency, a payment method, enter the amount of money you want to buy to quickly filter the number of people who can meet your needs.

– Suppose you want to buy USDT in VND currency with Bank Transfer. After filtering who can sell to you, you check the quantity limit, the fiat price you feel is reasonable. Then you click “Buy USDT” as below

– You enter the amount of cryptocurrency or fiat money you want to buy, Then click “Buy USDT”.

From now to the end of the transaction only 15 minutes. If more than 15 minutes, the transaction will expire, at which point you will come back to make another transaction.


– You pay attention to check the seller’s information such as the legal amount to be transferred, bank card information, money transfer content. Then transfer fiat money to them.

After successfully transferring money, you should take a photo of the invoice and send it to the seller’s messenger to speed up the transaction process.

After you successfully transfer the specified amount to the seller, click on the confirmation “Transferred, notify seller” and wait for the USDT deposit amount to be sent to your “Funding” wallet.

If you do not receive money in your Funding account after transferring money, you can complain to the Bianace exchange staff, they will help you solve the problem.

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Sell Cryptocurrencies

– Similar to buying cryptocurrency, at this interface you choose “Sell”, then you choose the cryptocurrency, Fiat currency and payment method you want to sell. You can filter the amount of cryptocurrencies you want to sell so you can find the right buyer.


– Let’s say you want to sell USDT. After selecting buyers, you check the quantity and price ratio that you find most suitable. Then you choose “Sell USDT”

– Here you enter the amount of USDT you want to sell, check the amount of fiat you receive. Then click “Sell USDT”.

Now you wait for the buyer to transfer the legal money to you. After receiving the money, you “confirm unlock” to complete the transaction.

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We’ve just gone over how to conduct P2P transactions using web browsers in detail. We’ll do the same thing on mobile devices.

Instructions on how to withdraw and deposit cryptocurrency on Binance exchange here

Best of luck!

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