HOW TO TRADE ON BINANCE P2P
HOW TO TRADE ON BINANCE P2P: Binance is one of the largest cryptocurrency exchanges in the world, offering a wide range of trading services to its users. In recent years, the exchange has launched its peer-to-peer (P2P) trading platform, which allows users to trade cryptocurrencies directly with each other, without the need for an intermediary.
HOW TO TRADE ON BINANCE P2P
Binance P2P trading is now available in Nigeria, and it has quickly become a popular option for Nigerians looking to buy and sell cryptocurrencies. In this article, we will take a closer look at Binance P2P trading for Nigerians, including its features, benefits, and how it compares to other trading platforms, such as DartAfrica.
Binance P2P trading is a decentralized trading platform that allows users to buy and sell cryptocurrencies directly with each other. This means that Binance does not act as an intermediary, and users can set their own prices and negotiate directly with other users. Binance P2P trading is available in Nigeria and supports several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and USDT.
The benefit of Trading on Binance p2p
One of the benefits of Binance P2P trading is that it is a safe and secure way to buy and sell cryptocurrencies. Binance provides an escrow service, which means that the cryptocurrency being traded is held in a secure account until both parties have completed the transaction. This ensures that both parties are protected from fraud and that the transaction is completed successfully.
Another benefit of Binance P2P trading is that it is a fast and convenient way to buy and sell cryptocurrencies. Transactions can be completed quickly, and users can choose from a wide range of payment methods, including bank transfers, mobile money, and cash payments.
Binance P2P trading is also user-friendly, with a simple and intuitive interface that makes it easy for users to buy and sell cryptocurrencies. The platform is available on both desktop and mobile devices, making it easy for users to access it from anywhere.
DartAfrica is another crypto-fiat trading platform that is available to Nigerians. Unlike Binance P2P trading, DartAfrica allows users to instantly sell cryptocurrencies directly and get fiat deposited in their local bank, without the need for an intermediary. However, there are some differences between the two platforms.
One of the main differences between Binance P2P trading and DartAfrica is the range of cryptocurrencies that are supported. DartAfrica crypto-fiat exchange supports several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), USDC, and USDT, while Binance supports a wider range of cryptocurrencies, including Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP).
Another difference between the two platforms is the payment methods that are supported. Binance P2P trading supports a wide range of payment methods, including bank transfers, mobile money, and cash payments, while DartAfrica supports only bank transfers.
How to trade on Binance p2p
Binance P2P is available in many countries, including Nigeria, making it a popular option for Nigerians who want to trade cryptocurrencies without the need for a middleman. To trade on Binance P2P:
Step 1: Register on Binance
The first step to trading on Binance P2P is to register on the Binance exchange. To register, visit the Binance website and click on the “Register” button. You will be required to provide your email address and create a password. Once you have registered, verify your email address and set up two-factor authentication (2FA) for added security.
Step 2: Verify your account
Before you can start trading on Binance P2P, you need to verify your account. To do this, log in to your Binance account and click on the “Verify” button. You will be required to provide some personal information, including your name, address, and government-issued ID. You may also be asked to provide a selfie to verify your identity. Once your account is verified, you can start trading on Binance P2P.
Step 3: Deposit funds
To start trading on Binance P2P, you need to deposit funds into your Binance account. Binance supports a wide range of payment options, including bank transfers, debit and credit cards, and digital wallets like Paystack, Flutterwave, and Paxful. Choose your preferred payment option and follow the instructions to complete the transaction.
Step 4: Navigate to the P2P marketplace
To access the Binance P2P marketplace, click on the “Trade” button on the Binance website and select “P2P Trading” from the dropdown menu. This will take you to the Binance P2P marketplace where you can buy and sell cryptocurrencies.
Step 5: Choose a trade
Once you are in the Binance P2P marketplace, you can browse the available trades and choose one that suits your needs. You can filter the trades by currency, payment method, and location. Once you find a trade that you are interested in, click on the “Buy” or “Sell” button to initiate the trade.
Step 6: Complete the trade
Once you initiate a trade, you will be connected with the other party. Follow the instructions provided by the other party to complete the transaction. Make sure you read the trade terms carefully before agreeing to the trade. Once the transaction is complete, the cryptocurrencies will be transferred to your Binance account.
Trading on Binance P2P is a simple and straightforward process. By following these steps, You can easily buy and sell cryptocurrencies using your local currency. It is important to note that trading cryptocurrencies involves a high degree of risk and you should only invest what you can afford to lose. Always do your research and make informed decisions before trading.
Overall, both Binance P2P trading and DartAfrica are safe, secure, and convenient ways for Nigerians to buy and sell cryptocurrencies. Binance P2P trading offers a wider range of cryptocurrencies and payment methods, making it a more versatile platform for cryptocurrency trading. DartAfrica is faster and there are no hidden charges like in Binance P2P where when you open a trade is when you only get to know that the buyer may decide to charge a fee for crediting your local bank.
Click here to download Dart Africa mobile app
Most users have recently begun making use of DartAfrica because you don’t need to have a wallet address with them, all you just need to do is deposit the amount you wish to convert to fiat (min $20), and you are provided with a wallet address to send the corresponding cryptocurrency to.
HOW TO TRADE ON BINANCE P2P – HOW TO TRADE ON BINANCE P2P