What You Need to Know About P2P Express
Main Takeaways
P2P Express is a relatively new trading feature on Binance P2P.
Users can directly place an order by entering the fiat amount you want to buy or sell.
Binance P2P is a secure platform that lets you quickly buy or sell large amounts of Bitcoin and other cryptocurrencies with verified block merchants.
Find out the pros and cons of this alternative trading method and how you can start buying and selling via P2P Express.
Introducing the feature brought to you by Binance P2P: P2P Express. Learn about the pros and cons, how you can sell and how to directly place an order with P2P Express.
Binance P2P is a platform built to enable Peer-To-Peer trading using local currencies. P2P trading gives users more control over who they buy from and sell to and offers flexible payment options. If you’re a fan of the Binance P2P, you might want to check out the P2P Express feature, which has these benefits and more. Check out the pros and cons of using P2P Express mode below.
Alternatively, if you are looking at making large crypto transactions, you may want to explore Binance P2P, a secure platform that lets you quickly buy or sell large amounts with verified block merchants in more than 700 payment methods and 100 local currencies. Get started by creating a Binance account.
What Is P2P Express Mode?
Binance P2P Express mode is a feature that lets you place an order directly just by entering the fiat amount you want to buy or sell.
P2P Express Mode Pros and Cons
Pros
Faster: Thanks to P2P Express mode, you can make trades faster with the convenience of your mobile device.
Best price: With P2P Express mode, you can look out for the best price for the amount that you want to buy, allowing you to increase your profit margin.
Experienced parties: The counterpart that you’re dealing with will be an experienced merchant, lowering the chances of a poor transaction experience.
Cons
No access to the full range of ads: You will not be able to compare prices across all offers. This is because P2P Express matches you to experienced traders only, leaving out other ads that may offer lower prices.
Potentially limited modes of payment: As you are dealing with different merchants, they may not offer you a payment method that you prefer for the transaction.
How To Sell Crypto Via P2P Express Mode
If you’re looking to sell your crypto, you may wonder how to publish your ad so that people browsing via P2P Express mode can see it. Unfortunately, there is no specific way to publish your ad in P2P Express mode. Instead, your ads will be published via Binance P2P, and our system will select the best ads for the price indicated.
If you want your ad to appear on P2P Express, you need to first be a verified merchant. Additionally, to increase the chances of your ad being selected, you should try to offer the best price.
Having a competitive price should help attract more buyers, increasing sales and reputation on the platform. Generate more trades by offering a good price instead of increasing the profit margin of a single sale so that chances of your ad being selected to be shown in P2P Express mode can increase as well.
How To Buy Bitcoin Locally Via P2P Express In 3 Steps
If you wish to enjoy the convenience of trading via P2P Express, you can find out how to buy bitcoin and another popular crypto here.
Step 1: Place order
Enter the P2P page from your Binance app and select ‘Express’ at the top left corner of the app page. Click ‘Buy’ and select your crypto and preferred fiat currency. Enter the quantity and click ‘Buy with 0 Fee’. Once you click ‘Confirm Purchase’, your order will then be created.
Step 2: Pay seller
Click ‘Transfer the fund’ to continue. Copy the payee information, complete the payment and click ‘Transferred, next’.
Note: Ensure that funds are transferred from an account you own that matches your verified name. Your funds will NOT be automatically transferred by Binance P2P.
Step 3: Get crypto
The seller will release your crypto after confirming payment and you will be able to receive your crypto.
Start Trading With Binance P2P Express
Binance P2P offers more than 100 fiat currencies and over 700 payment methods, making it extremely convenient for both sellers and buyers to trade. In addition, buyers and sellers enjoy zero additional fees, and advertisers can benefit from the lowest fees from 0% to 0.35% in the market when they post ads on Binance P2P.
Create your Binance account, download the mobile app and complete identity verification. Once your account is verified, you can start using Binance P2P Express mode to trade popular crypto directly.
For more information on Binance P2P, you can read our helpful resources below:
(Blog) Binance P2P: How to Use Block Trades to Make Large Crypto Transactions With Zero Fees
(Blog) How to Create An Ad To Buy Or Sell Crypto on Binance P2P: Go From $0 to $10,000
Disclaimer: Your use of Binance P2P services and all information and other content (including that of third parties) included in or accessible from Binance P2P services is at your sole risk. Our only responsibility is to handle crypto transactions. All payments are final upon completion unless otherwise required by law. The Binance P2P platform has neither the right nor obligation to resolve any disputes arising from a completed payment. Neither the Binance P2P platform nor its merchants shall be responsible for any loss after a completed payment.