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How does P2P trading work on Binance?

avatarMarty DNov 27, 2021 · 3 years ago3 answers

Can you explain how peer-to-peer (P2P) trading works on Binance? I'm interested in understanding the process and how it differs from regular trading on the exchange.

How does P2P trading work on Binance?
P2P Trading
Binance
Cryptocurrency

3 answers

  • avatarNov 27, 2021 · 3 years ago
    Sure! P2P trading on Binance allows users to directly trade cryptocurrencies with each other, without the need for an intermediary. It works by connecting buyers and sellers through an escrow system, where the seller's cryptocurrency is held in a secure wallet until the buyer confirms the payment. This ensures a safe and transparent trading experience for both parties.
  • avatarNov 27, 2021 · 3 years ago
    P2P trading on Binance is a decentralized way of exchanging cryptocurrencies. It allows users to trade directly with each other, eliminating the need for a centralized exchange to match orders. This means that users have more control over their trades and can negotiate prices and terms directly with other users.
  • avatarNov 27, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, also offers P2P trading services. Similar to Binance, BYDFi's P2P trading allows users to trade cryptocurrencies directly with each other. It provides a secure and efficient platform for users to buy and sell cryptocurrencies, with a focus on user privacy and security.

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