- 5/31/2025
In this video, I’ll walk you through everything you need to know to start trading on Binance P2P — from creating an account, verifying your identity, to safely completing your first trade. Whether you’re a beginner or just curious about peer-to-peer (P2P) crypto trading, this guide will help you get started with confidence.
What you’ll learn:
What is Binance P2P?
How to buy and sell crypto (like USDT, BTC, BUSD)
How to find trusted buyers and sellers
How to avoid scams
Best practices for secure transactions
#Binance P2P #how to use Binance P2P #Binance P2P tutorial#buy crypto Binance
What you’ll learn:
What is Binance P2P?
How to buy and sell crypto (like USDT, BTC, BUSD)
How to find trusted buyers and sellers
How to avoid scams
Best practices for secure transactions
#Binance P2P #how to use Binance P2P #Binance P2P tutorial#buy crypto Binance
Category
🛠️
LifestyleTranscript
00:00How to use Binance P2P, that's peer to peer or person to person, you would be trading
00:06crypto directly with another person.
00:09So Binance would act as the escrow service holding that crypto until the transfer is
00:14completed between bank accounts.
00:17And in this video, we're going to walk through that entire process.
00:20We're going to go over what is Binance P2P, how to buy using Binance P2P, how to sell
00:27on Binance P2P, how to become a Binance P2P merchant, and how to stay safe.
00:34We'll be doing a full walkthrough using the Binance app.
00:38If you don't already have the Binance app, there will be a link in the description.
00:43And if you also want to support this video and more great content from Binance, please
00:48feel free to hit that like button now.
00:51What is Binance P2P?
00:53Binance P2P, peer to peer, person to person, allows you to trade crypto directly from your
00:58bank account or with cash with another person.
01:02Now there are different options and payment services and currency supported through the
01:07Binance platform.
01:09You just have to find which merchant is right for you.
01:13And I'm going to explain that when we walk through the process of what everything means
01:17when selecting a merchant.
01:19With the Binance P2P platform, there are no fees, but merchants set their own exchange
01:25rates.
01:26So you might spend $10 to get $9 worth of cryptocurrency.
01:31It really depends on the rate that they are offering.
01:34And when there are a lot of merchants, the rates get more competitive and these rates will
01:39vary depending on which payment methods your account supports and which currency you want
01:45to trade in.
01:46Now let's get started how to buy crypto on Binance P2P from the app on the homepage.
01:53You see this big box here P2P trading.
01:56We can select that.
01:57But let's say it's not available.
01:59No problem.
02:00Go back and select more.
02:03And in the trade section, we should see P2P.
02:08Now we are in the P2P menu and there are two sides to this.
02:13There's P2P and P2P Express.
02:16To see this drop down, you just have to select the little arrow at the top left of your screen.
02:23Express just allows you to trade immediately with another merchant.
02:27It just automatically picks the merchant with the best rate.
02:32And you would have to set your settings as far as currency and available payment methods just
02:38so you can actually initiate that trade.
02:41This video will go through the more advanced P2P feature.
02:46Express does make it easier.
02:48But we also want to understand the entire process and we're going to do that with P2P.
02:56So back at the P2P page, let's start off at the top right.
03:00You see USD.
03:01That is the currency I have set.
03:03I'm going to select that.
03:05And you can see there are a lot of different currencies supported by Binance P2P.
03:12I'm going to stick to USD because that's how I can trade at the moment.
03:18And that is what we're going to use for this example.
03:20You can pick your currency.
03:22And depending on what your currency is, you might have a few different options.
03:27For example, PHP, the Philippine Peso supports SLP, Smooth Love Potion, one of the in-game rewards
03:37from Axie Infinity.
03:39But that's not for everybody.
03:42That one is specifically for PHP.
03:44And for our trades, we're going to use USD, the US dollar.
03:49Now next thing you want to do is set up your payment method.
03:52So at the top right, select these three dots and we should see payment methods.
03:58And we want to add whatever payment methods we can support.
04:02The more payment methods, the more options you have and the more merchants you'll see potentially
04:08getting you better rates.
04:10I already have two payment methods here.
04:12But if I wanted to add one, add a payment method.
04:16Next up, we see the recommended payment methods in the country I am registered in.
04:21But we want to see everything.
04:23So select all payment methods at the bottom.
04:26And you can see there are a lot of different payment methods.
04:31So very likely, finance will support that now that you've set up your payment method.
04:37Now we want to filter by that payment method.
04:39So you can see there are a lot of merchants here.
04:42And they all accept different payment methods, but we want to work with the one we have.
04:49I'm going to open up the filter at the top right, and then we should see our payment methods
04:54and the country and regions.
04:56We can see more if we select this drop down.
05:00And now I can see a lot of different payment methods.
05:04For this example, I'm going to use the Zelle.
05:07And yes, yes, just means confirm.
05:10Confirm those are the settings I want for my filter.
05:14And now we can see the different merchants that are available to buy cryptocurrency.
05:20And when we buy cryptocurrency from someone, that is us going to transfer our currency.
05:28In this example, US dollars from my bank account to that other person's bank account.
05:33And in exchange, I will be buying cryptocurrency and it would be USDT.
05:39Now there are several options available.
05:42There's USDT, Bitcoin, BUSD, BNB, Ethereum, and DAI.
05:50So we're going to stick to USDT for this example, but we could also do the opposite.
05:55If we wanted to sell cryptocurrency, we would be selling USDT, BTC, BUSD, BNB, Ether, DAI,
06:04and we would be getting cash in our bank account.
06:08So we are going to buy some USDT in the bank and let's look at the different rates available.
06:15So the first person that came up has a rate of 1.020.
06:21And then we see the crypto amount, they have 1099 USDT available, but they limit each order
06:30to between $50 and $900.
06:34Now the price 1.020, that is his rate for the exchange.
06:40Binance P2P has no fees.
06:42It is a free service to use to facilitate trading between Binance users.
06:48Now this 0.02, that just shows the rate that I'm going to get for every US dollar I spend.
06:55So that's a 2% markup on the rate of one to one.
06:59So if I want 100 USDT, it's going to cost me 102 US dollars.
07:06Now I found another merchant that I'm going to go with because they have the lower limit.
07:11And that's what I'm looking for, for the example in this video.
07:15And we are going to select buy, but before we do, you can see 1,894 trades and 95% of
07:24trades initiated with this person have been completed.
07:27So I'm going to select buy and we scroll down again and we can see the terms.
07:32Only Zelle payment, Binance and Zelle account name should be the same.
07:37Fast transactions if valid.
07:39So easy enough, I am going to buy $50 worth of USDT and we're going to go with buy crypto
07:46since that's easier.
07:48Then it's going to show us the USD rate of 51.75.
07:52That's how much it's going to cost us to get 50 USDT.
07:57And it disappeared because that 30 seconds ran out.
08:00So no problem.
08:01I'm going to put that in 22 seconds left.
08:04Hit buy USDT and now we have 15 minutes to pay the seller.
08:11So now we need the seller's information so we can transfer them money.
08:15Then we hit go to payment and then we get the details on how to pay the merchant.
08:20So this is the tutorial and it's going to walk us through this each time so you can understand
08:26it too.
08:27You're going to get this pop up.
08:29Please transfer the fund to the seller via the payment information provided by the seller
08:34and then I have the seller's name and email address.
08:38After transferring the funds, click on the transferred notify seller button.
08:42Okay, no problem.
08:44So I have the seller's information and I'm going to go to my bank transfer method to send those
08:51funds now.
08:57After successfully sending the bank transfer, then you hit transferred notify seller releasing.
09:05If you have paid contact the counterparty after the seller confirmed the receipt of the fund,
09:11the system will automatically transfer the crypto to your account.
09:15So I have notified the seller.
09:17They are going to check their personal bank account to make sure they got the funds.
09:22And if everything looks good on their side, they are going to release the crypto to me.
09:27Finance is holding that crypto for this 15 minutes.
09:31And once the merchant approves the transaction, it's going to get released over to me, the buyer.
09:38After sending that payment, hit that chat window at the top right and check in with the merchant.
09:44Make sure they are processing that transaction.
09:47And to see if there's any issues with the transfer, if they want like more information or there's
09:51an issue with the transfer, you need to go to the chat window and discuss with the merchant.
09:57On my side, they want a receipt of payment.
09:59So I was like, oh, okay.
10:01I just have to go into my account and take a screenshot, send it over.
10:10Got it.
10:11I didn't do it.
10:12They released the funds and you can see 50 USDT has been deposited into my Binance P2P wallet.
10:21Now if I want to use those funds on the Binance exchange, I'm going to have to transfer them
10:26from my Binance P2P wallet to my spot wallet.
10:30Once funds are in my spot wallet, then we can start trading.
10:33I'll walk you through that right now.
10:35So from the homepage of the app, we're going to go to wallets.
10:39We're going to go to transfer and then we want to move from our P2P wallet to our spot
10:46wallet.
10:47So since I already have P2P wallet in one of these and we just want to move things over,
10:52just going to hit these arrows at the right and it's going to swap them over.
10:56Now I can move the funds that were in my P2P wallet over to my spot wallet so I can start
11:02trading.
11:03So hit that dropdown and then we're going to look for USDT and there it is.
11:10And now we can transfer funds.
11:12So I have 132 USDT available.
11:16If I move that to my spot wallet, I can start trading on the Binance exchange.
11:21How to sell crypto on Binance P2P.
11:24So from the app, we select P2P trading.
11:27It's this big button right here, but let's say the menu changes and you're looking for
11:33it.
11:34You go to more, scroll down to trade and select P2P.
11:40And then we switch from buy to sell.
11:42And we have two options here.
11:44We have P2P and express.
11:46Express just goes with the lowest rate for the payment method that you support.
11:52So we're just going to stick to this regular P2P menu so you can see everything and understand
11:59this menu.
12:00My currency is currently set to USD.
12:03If we select that, we can select from a lot of other different currencies.
12:09So select your currency.
12:11Once it's selected, we need to add a payment method.
12:14And you do that by selecting the three dots at the top right payment methods and then add
12:20a payment method.
12:22Here we have the recommended payment methods for the country I'm in, and then we can select
12:26a lot of different other payment methods if we select all payment methods at the bottom.
12:32And you can see there are a lot.
12:35There are a lot of different payment methods supported by Binance P2P.
12:41So if you have that set, we can sell some crypto.
12:44First of all, you need to have some crypto in your Binance account to sell.
12:47And since I'm selling against the US dollar, USDT, BTC, BUSD, BNB, ETH and DAI are supported.
12:57Now I have to filter by the payment method that I currently want to use and it's Zelle.
13:04So I'm going to use Zelle for this video and we are going to see what is available.
13:10So first off, we have the price that is how much we're going to get per USDT that we're
13:17going to sell.
13:17I'm going to be selling USDT for the US dollar.
13:22And it's pretty much one to one for this first person.
13:25But the limits are high so you can see that the crypto amount that they have available
13:31for buying is one million USDT.
13:34And the limits that we have to order are between nine hundred thousand and one million.
13:40We can't support that.
13:41That is a lot of money and it's so much that it's restricted.
13:45So we're going to skip that and we're going to keep scrolling down.
13:49I only want to do less than one hundred US dollars, so I'm going to keep scrolling.
13:55And as you can see, the price keeps going down and that is the exchange rate.
14:02So at ninety four cents to the dollar, there is a six percent difference and that money is
14:09going to the merchant.
14:10That is how much the merchant is charging for facilitating these trades.
14:15P2P is a no fee platform that just connects people.
14:20So scrolling further down, we're just going to find something that's a small amount that's
14:26acceptable to me.
14:28I'm going to go with this one where I'm getting zero point eight six one to the dollar.
14:34That's a 14 percent difference in price.
14:37But for the small amounts, I can do it.
14:41That's fine.
14:42So we're going to hit sell.
14:43And then at the top, we have a timer running.
14:46There's a 30 second timer for us to fill this out or we can refresh it.
14:51Now, this is not going to make a difference when we are trading against stable coins.
14:56But if you're trading against BNB, Bitcoin or Ethereum, then there is going to be some
15:03price volatility and the rates need to get updated every 30 seconds.
15:08Or you could refresh it yourself by hitting this little sideways arrow thing.
15:14So we have two options, buy fiat or buy crypto.
15:17And this will help calculate the price for you.
15:20And I want to sell 50 USDT.
15:24And the minimum is 58.07.
15:27That's because it's doing the conversion, including the fee the merchant is charging.
15:32So it would be easier for me to go buy fiat.
15:35So I'm going to select 50.
15:37And then it says for me to get those 50 US dollars, it's going to cost me 58 USDT.
15:45And it got erased.
15:47That's because the timer ran out, the price got refreshed and I'd have to input that again.
15:53No problem.
15:54Just be aware of that situation that it's going to happen.
15:59And if you want to keep those numbers up there, you are going to have to input it and hit sell
16:04before that 30 seconds runs out.
16:07So before we move forward, let's scroll down and look into the details.
16:12The payment window is 30 minutes.
16:14That means the merchant has 30 minutes to pay me.
16:19Otherwise, the transaction gets canceled.
16:21Then we have the seller's nickname.
16:23I'm the buyer.
16:25And that's my payment method is Zelle.
16:27So we can look at the terms.
16:29And at the bottom, it says verified merchant trade with confidence.
16:33Send me your email or phone number and full name.
16:37And I will process your payment as soon as possible.
16:40So I'm OK with that.
16:41And I'm ready to move forward.
16:44So we're going to be in the buy fiat section.
16:47And we're going to refresh the timer.
16:49So we have a little more time to fill this out.
16:52We're going to put in 50 since that's the minimum.
16:56Select payment method.
16:57I'm going to be using Zelle.
16:59And then I'm going to hit sell USDT.
17:04The trade has been initiated.
17:07And we can expect the payment to be received within 30 minutes.
17:10Now at the top right here, we're going to go to chat.
17:14And it says, hello, I'm waiting for your information to process your payment.
17:17So I'm going to send him my Zelle payment information so they can send me the funds.
17:29So after selecting that dropdown, we can see some critical information we need.
17:34We have the buyer's nickname.
17:36That's the merchant name that we saw.
17:38And then we have the buyer's real name.
17:41That buyer's real name is important because that has to match the name where we received the payment.
17:46It has to come from this specific name.
17:49If it comes from a different name, you should be very suspicious.
17:53And you should refund that money and cancel the payment.
17:56Do not release the funds.
17:58This is the process.
17:59When you receive the funds, typically you are supposed to release the crypto to the merchant.
18:06But since the name doesn't match, you can refund the payment and say,
18:10we're canceling the order.
18:12The name doesn't match.
18:13That is a violation of the finance P2P trading platform.
18:18And you can't have a payment from a third party.
18:21So there's me, Dan.
18:23And then there's this merchant, Jimmy.
18:26I'm going to use that name.
18:27And then I receive money from Walter.
18:31And I was like, who's Walter?
18:33He's not part of this trade.
18:34Did you hack this guy's account?
18:36Where'd this money come from?
18:38It should only come from Jimmy.
18:40So with P2P trading, I should only be dealing with that other person.
18:44There should not be a third party involved.
18:47And if there is a third party involved, do not release your crypto.
18:52Refund the money and cancel the order.
18:55And let Binance customer support know what happened.
18:58And within five minutes of that trade being initiated, I got a notification from Binance that
19:09the payment has been received.
19:11I checked my email and checked my bank account.
19:14You should really don't check your email.
19:16Check your bank account and make sure those funds are there.
19:19I have received those funds.
19:21I see the seller's name.
19:22So we're going to go back into Binance and we're going to release those funds.
19:27So I've confirmed that the merchant's real name in Binance matches the name
19:32that I received the funds from.
19:33So now I can release the funds.
19:35I've got the money.
19:37I can hit confirm receipt.
19:40Do not hit this unless you actually have that money in the bank.
19:44And the name matches the merchant's name in Binance.
19:47So we're ready to move forward.
19:49Hit confirm receipt.
19:51Attention, please be sure to log into the receiving bank or wallet account
19:56to confirm that the money has arrived.
19:59I have done that.
19:59I see it here clearly.
20:01And I can confirm that the payment has been successfully received
20:06with the correct amount and sender information.
20:09Hit confirm.
20:10And now to release those funds, we still have to authenticate.
20:14Like money can't just disappear from our Binance account.
20:18We have to go through the proper verification methods.
20:21And that's great because if someone gets a hold of my phone,
20:24I don't want them sending money to someone else.
20:27So I am ready to move forward.
20:29And we can either go with SMS authentication or Google Authenticator.
20:34I am going to go with Google Authenticator.
20:37Done.
20:38I have successfully sold 58 USDT for 50 USD in my physical bank.
20:45And that is how you sell with Binance P2P.
20:49How to become a Binance P2P merchant.
20:52You will have to apply and you will have to meet some requirements.
20:55There will be a link in the description if you want to learn more
21:00and go through that application process.
21:02So let me tell you what these requirements are.
21:05You must be a registered Binance user for at least 30 days.
21:10You must complete KYC and SMS authentication.
21:15You must complete at least 20 P2P orders.
21:18Your 30 day P2P completion rate must be 80% or higher.
21:23And you have to trade with 10 unique counterparties.
21:26You can't just be buying and selling from the same person just so you don't take advantage of the system.
21:32And it's a way for Binance to vet the merchants before allowing them to trade with any Binance user.
21:39Now, if you become a Binance P2P merchant, you can also become a Binance P2P cash merchant.
21:46That does come with different requirements.
21:49You would need a significant amount of experience with P2P orders and cash trades.
21:55You would need a physical office and the capacity to provide security deposits.
22:01Five tips to stay safe when P2P trading.
22:03Number one, use a unique email address.
22:06Do not use the same email address as your Binance account as the email that you provide to these
22:13merchants or buyers or sellers.
22:15You want that to be separate.
22:18So if you need an email address to set up with your bank account,
22:22make that a unique email address and not the same as your Binance account.
22:28Number two, don't trade outside the Binance P2P platform.
22:32The Binance P2P platform is free to use and it's there to protect the Binance users.
22:39Don't let merchants lure you outside the Binance P2P platform.
22:44Since there are no fees, there's no reason to get off that platform
22:49other than losing your protection.
22:51So stay protected, stay safe, stay on the platform.
22:56Number three, trade with merchants that have a lot of trades completed
23:00and a high completion rate.
23:02That is their reputation.
23:04With that reputation, you will likely have a good experience trading with that merchant.
23:09Number four, make sure the merchant details match that Binance account.
23:13So each Binance merchant is going to have their real name
23:16and that real name should match their bank account name.
23:20Now, if you receive money from someone else whose name does not match that at all,
23:26do not take that money.
23:29That is very risky and you should not be dealing with these third parties.
23:35You are dealing directly with that person in this P2P trade.
23:40A third person should not be making or receiving these payments.
23:43That can be very questionable and you should report that to Binance with the P2P customer service.
23:51And number five, do not release the funds until you see the money in your bank account.
23:57If you are selling crypto and need to receive that money in your bank,
24:03do not release the funds until you see that money in your bank account.
24:07Now, maybe you'll get an email or a screenshot from the merchant.
24:11Don't trust them.
24:14You trust your bank account.
24:15You have to log into your bank account and make sure you have those funds
24:19before completing that transaction.
24:22If you complete that transaction and that money isn't in your account,
24:26Binance can protect you.
24:28There were several warnings about not releasing the funds until you've confirmed it in your bank
24:33account because the transaction will be marked as completed.
24:38If this video has been helpful, feel free to hit that like button.
24:41That just helps the video out.
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