One of the easiest and most cost-effective ways to buy and sell cryptocurrency is through Binance P2P (Peer-to-Peer) Trading. Unlike traditional exchanges, P2P lets you trade directly with other users, using your preferred local payment methods — and without any extra transaction fees.
In this guide, we’ll break down what Binance P2P is, how it works, and how to safely buy and sell crypto step by step.
What Is Binance P2P?
Binance P2P (Peer-to-Peer) is a platform where buyers and sellers exchange cryptocurrencies directly. Binance acts as a trusted escrow service, holding the crypto safely until both sides complete payment.
You can trade major cryptocurrencies like:
- USDT (Tether)
- BTC (Bitcoin)
- ETH (Ethereum)
- BNB (Binance Coin)
- BUSD (Binance USD)
- SOL, DOGE, and more
And you can use over 100 local currencies — including LKR, INR, USD, EUR, and more.
Why Use Binance P2P?
✅ Zero Fees: Buy and sell crypto without paying transaction fees.
✅ Local Payment Methods: Bank transfer, mobile wallets, cash, etc.
✅ Escrow Protection: Binance holds the crypto until both parties confirm.
✅ Global Access: Available in 100+ countries.
✅ Freedom: Negotiate prices and payment methods directly.
How Binance P2P Works
Here’s how the system ensures secure trading:
- Buyer places an order to purchase crypto.
- Seller’s crypto is automatically locked in Binance escrow.
- Buyer makes payment via agreed local method.
- Seller confirms payment, Binance releases the crypto to the buyer.
This system eliminates trust issues because neither party can cheat — Binance manages the process transparently.
Step-by-Step: How to Buy Crypto on Binance P2P
Step 1: Log in to Binance
- Visit binance.com or open the Binance app.
- Complete KYC verification (required for P2P trading).
Step 2: Go to P2P Section
- On the homepage, click Trade → P2P.
- Choose your preferred currency (e.g., LKR, USD, INR).
Step 3: Choose “Buy”
Select the coin you want (e.g., USDT).
You’ll see a list of verified sellers with:
- Price per unit
- Available amount
- Payment methods
Step 4: Select a Seller
Choose one with:
- High completion rate (≥ 90%)
- Many completed trades
- Trusted badge if available
Step 5: Enter Amount
Type how much crypto you want to buy.
Confirm the total price and click Buy Now.
Step 6: Make Payment
Follow the seller’s payment instructions.
Use only the method shown on Binance.
✅ Do not click “Transferred” until you’ve actually sent payment.
Step 7: Confirm and Wait
After you send the payment, click Transferred, Notify Seller.
The seller will verify payment and release the crypto.
Your purchased crypto appears in your P2P wallet.
How to Sell Crypto on Binance P2P
- Go to Trade → P2P → Sell
- Choose the coin you want to sell (e.g., USDT)
- Select a buyer with a good reputation
- Enter the amount you want to sell
- Wait for the buyer to send payment
- Confirm receipt of payment
- Click Release Crypto
Once released, Binance transfers the crypto from escrow to the buyer instantly.
Security Features on Binance P2P
- Escrow System: Prevents fraud by locking funds until payment is confirmed.
- KYC Verification: Ensures only verified users can trade.
- Appeal Process: If a dispute arises, Binance support resolves it fairly.
- Reputation Scores: Each trader’s rating helps you identify reliable users.
- Chat Feature: Safe communication between buyer and seller (no external links allowed).
Tips for Safe P2P Trading
💡 1. Trade with Verified Users Only
Always check the seller’s history and completion rate.
💡 2. Avoid Off-Platform Deals
Never make payment outside Binance chat — it voids protection.
💡 3. Use Instant Payment Methods
Choose bank transfers or payment wallets for quick confirmation.
💡 4. Double-Check Payment Details
Ensure account names match exactly to prevent issues.
💡 5. Never Click “Release Crypto” Before Receiving Payment
Once you release, it can’t be reversed.
Supported Payment Methods
Depending on your country, Binance P2P supports:
- Bank transfers
- Paytm / GPay / PhonePe (India)
- Cash App / Zelle (USA)
- eWallets / Mobile Money (Africa)
- Local payment gateways (e.g., FriMi, eZ Cash in Sri Lanka)
You can also add custom methods under “Payment Settings.”
Advantages of Binance P2P Over Exchanges
| Feature | Binance P2P | Normal Exchange |
|---|---|---|
| Fees | 0% | 0.1%–0.5% |
| Payment | Local & flexible | Limited |
| Speed | Fast, user-to-user | Depends on exchange |
| KYC | Required | Required |
| Control | Direct trading | Exchange-controlled |
Binance P2P gives you complete control and cost-free trading flexibility.
Common P2P Scams to Avoid
🚫 Fake Payment Screenshots – Always confirm funds in your account.
🚫 Off-platform Communication – Keep all chat within Binance.
🚫 Too-Good-To-Be-True Offers – Unrealistic prices usually mean fraud.
🚫 Reversal Scams – Wait for full payment confirmation before releasing crypto.
Binance’s escrow and appeal system protect you from these risks — but vigilance is still essential.
Earning as a Binance P2P Merchant
Want to take it further? Become a P2P Merchant and earn profits from spreads (buy low, sell high).
Benefits include:
- Customizable advertisements
- Priority listing
- Higher trade limits
- Access to Binance support team
You can apply directly on Binance’s Merchant Program page.