Crypto exchanges aren’t the only way to buy Bitcoin and other cryptocurrencies. Find out why peer-to-peer marketplaces like Binance P2P provide the best method to buy crypto.
- P2P marketplaces like Binance P2P enable users to directly trade crypto with one another using their preferred payment method and local currency.
- Binance P2P offers more than 300 different payment methods and more than 70 local currencies.
- In this article, we’ve provided ten reasons why P2P marketplaces like Binance P2P are the best way to buy crypto.
Peer-to-peer (P2P) marketplaces and traditional crypto exchanges are both platforms that allow users to swap their Bitcoin and other cryptocurrencies for a preferred currency. The two platforms offer similar services in essence, but the trading experiences have fundamental differences. Your traditional crypto exchange uses an automated engine to complete buy and sell transactions; however, P2P marketplaces like Binance P2P enable users to directly trade crypto with one another using their preferred payment method and local currency.
In this article, we’ve provided ten reasons why P2P marketplaces like Binance P2P are the best way to buy crypto, providing more control and precision over your crypto to fiat conversions and vice-versa.
1. Live Trade Chat
Chat with your trading counterparty before you complete any transaction. Clarify payment requirements, follow up with delayed transactions or get to know who you’re trading with. For more information, you can read our helpful tips for using Binance P2P chat.
2. Personalize Your Offers: Ad Posting
Through our ad posting feature, buyers and sellers can personalize their offers according to their preferred price, payment method and local currency. Create strong ad postings and provide suitable trading terms for crypto users around the world.
3. Security: Escrow Service
P2P trading is more convenient than your traditional crypto exchange, but trading with other users also comes with its own set of risks. At Binance P2P, we provide an escrow service that ensures safe and fair trading. Once a buyer completes their order, we handle the seller’s cryptocurrency in a temporary deposit until both parties confirm the transaction is successful.
4. Customer Support
If you encounter a problem with your P2P trading counterparty, you can quickly seek assistance from Binance’s customer support team, who will contact you via email. Our customer service team will come in to mediate between both parties and solve the issue. You can read this article to learn more about the appeal process.
5. Zero Fees
Traditional crypto exchanges serve as intermediaries and will collect a small fee from all crypto transactions. On a P2P marketplace like Binance P2P, you can buy or sell Bitcoin and other popular cryptocurrencies from other users with zero fees.
6. More Ways to Pay
7.Local and Global Marketplace
Whereas many other P2P platforms target specific markets, Binance P2P provides a truly global trading experience with support for more than 70 local currencies. Despite our international emphasis, we also strive to meet the needs of local markets via multi-language customer support and support for regional payment providers.
8. External Restrictions
Regulatory restrictions have historically intervened with traditional crypto exchanges. Transactions are facilitated interpersonally on P2P marketplaces, which means users are not affected by these restrictions.
9. Fast Transaction Speeds
P2P transactions can last from 20 minutes to one to three working days, depending on the payment method you use. Typically, online wallet transactions are quick and easy; however, some local banks may take one day to process the transfer, and in the case of International Swift transfers, you may need to wait up to three days.
10. Flexible amount
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